News
Bank of Spain denies Spanish banks are delaying losses by acquiring NPAs
The Bank of Spain defends Spanish banks' hands-on risk management of non-performing assets related to the property sector.
Limits on metal derivatives meet opposition
The commodity market is divided on position limits for metal derivatives.
Gazprom hones in on LNG, carbon and Asia
Russian energy giant Gazprom has secured its foothold in Asia by opening a new office in Singapore, to focus on global liquefied natural gas (LNG) shipping and trading, as well as portfolio development and carbon credit origination projects for Asian…
China secures big Angola oil deal
Chinese oil refining, producing and trading company China Petroleum and Chemical (Sinopec) has acquired deep-water oil assets in Angola by buying a 55% stake in Sonangol Sinopec, in a bid to further secure its diverse portfolio of oil import security.
Negative carry presents corporate hedging conundrum
Steep interest rate yield curves cause corporate treasurers to focus on the cost of carry.
Basel Committee proposals could break IASB loan-loss deadlock
The Basel Committee has revealed its thinking on loan loss accounting to standard-setters and industry experts.
All Europe’s electricity could be from renewables by 2050, says PwC report
Europe and North Africa could be powered solely by renewable electricity by 2050 through the implementation of a SuperSmart Grid, according to a report issued this week by global advisory firm PricewaterhouseCoopers.
$500 billion reserve drain made crisis worse: IMF’s Ferhani
Deputy director says IMF research shows central bank reserve managers withdrew $500 billion from deposits at commercial banks during crisis
UK building societies fear new FSA guidance impedes competition
Sector fears new rules will make it harder to compete
IEA: Power prices 2010 will depend on government finance spend & carbon prices
The cost of electricity for 2010 onwards will depend heavily on how governments plan to raise financial capital for electricity generation as well as the price of carbon, say the International Energy Agency (IEA) and the OECD Nuclear Energy Agency (NEA)…
