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Nov 20, 2013
Nov 20, 2013

Euro falls after report on ECB deposit rates; Fed minutes hint taper

NEW YORK (Reuters) – The euro tumbled across the board on Wednesday after a report that the European Central Bank is considering negative deposit rates to boost inflation closer to its target.

Additional selling pressure on the euro ensued after the release of minutes from the U.S. Federal Reserve’s October interest rate policy-setting meeting. The minutes showed many members felt the downside risks to the economic outlook have diminished and if data warranted it could decide to slow the pace of quantitative easing at one of its next few meetings.

Nov 19, 2013
Nov 18, 2013

Argentina loses bid for U.S. court rehearing in bondholder case

NEW YORK, Nov 18 (Reuters) – A U.S. appeals court on Monday
declined to reconsider an order requiring Argentina to pay $1.33
billion, ruling in favor of bondholders who refused to
participate in two debt restructurings spinning out of the
country’s 2002 default.

The 2nd U.S. Circuit Court of Appeals in New York denied a
petition by Argentina for rehearing by all of the judges sitting
on the court.

Nov 18, 2013

Argentine exchange bondholders to offer solution to end default litigation

NEW YORK, Nov 18 (Reuters) – Investors holding restructured
Argentine sovereign debt are in the final stages of formalizing
a proposal aimed at ending more than a decade of litigation by
holdout investors who have refused to participate in two prior
sovereign debt exchanges.

“In an attempt to create a solution for a decade-old
standoff, exchange bondholders have held several meetings over
the last couple of weeks and are forming an ad hoc group and a
steering committee to formalize a proposal for a global
resolution, end litigation and avoid a default by Argentina,”
Robert Koenigsberger, managing partner and chief investment
officer at Gramercy Funds Management, said in an emailed
statement.

Nov 8, 2013

Colombia’s Ecopetrol seeks 63 pct production rise by 2020

Nov 8 (Reuters) – Ecopetrol, Colombia’s publicly
traded, state-controlled oil company, said on Friday it will
spend as much as $75 billion by 2020 to lift oil and gas
production to 1.3 million barrels of oil equivalent per day
(boed).

The investment, outlined in a presentation to investors and
the media in New York, would represent a rise of more than 60
percent over output levels of 800,000 boed in the third quarter.

Nov 8, 2013

Colombia’s Ecopetrol aiming for 63 pct rise in production by 2020

Nov 8 (Reuters) – Ecopetrol, Colombia’s publicly
traded, state-controlled oil company, said on Friday it will
spend as much as $75 billion by 2020 to lift oil and gas
production to 1.3 million barrels of oil equivalent per day
(boed).

The investment, outlined in a presentation to investors and
the media in New York, would represent a rise of more than 60
percent over output levels of 800,000 boed in the third quarter.

Nov 7, 2013

MSCI reclassifies stocks in emerging, frontier market indexes

NEW YORK (Reuters) – Equity index provider MSCI on Thursday reclassified equities across a broad spectrum of emerging, developed and frontier markets as part of its November semiannual index review.

The changes will be made effective as of the close of business on November 26, MSCI said in a statement.

Nov 5, 2013
Nov 5, 2013

M&A not a must to grow Malaysia’s Maybank: CEO

NEW YORK (Reuters) – The new head of Malaysia’s largest lender, Malayan Banking Bhd (Maybank), poured cold water on speculation he was readying a bid to buy assets in Thailand, calling that nation’s banking sector over-valued in an interview on Tuesday.

Since being named president and chief executive officer of Maybank (MBBM.KL: Quote, Profile, Research, Stock Buzz) in August, Abdul Farid Alias, has faced questions on how the bank intends to meet its goal of increasing the share of earnings from outside Malaysia to 40 percent.

    • About Daniel

      "I'm a New York-based global investment correspondent with over 20 years of experience covering financial markets, business and foreign policy. My current post lets me roam across all asset classes and geography, from the developed to the emerging markets. I've reported and taught business and economic journalism from Asia, Europe, Latin America and the United States. Prior to joining Reuters I was a producer at CNN Business News in New York."
      Joined Reuters:
      1997
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