United States

Fact-Checking Trump’s Recent Economic Tweets

Forbes | Mar 16, 2019 at 12:00 AM
  • President Trump frequently tweets that the U.S. has the “Best Economy” and he signed the “Biggest tax cut.” Unfortunately for him, the tax cut doesn’t even make the top 10, and he conveniently overlooks other countries or natural growth that would occur no matter who is President.

Singapore

Mechanics Bank to buy Rabobank US retail unit for US$2.1b

The Business Times | Mar 16, 2019 at 12:00 AM
  • Mechanics Bank agreed to buy much of Dutch lender Rabobank Group’s US operations for about US$2.1 billion, bringing together two California lenders and extending the combined company’s reach throughout much of the state.
  • Mechanics is controlled by Dallas-based private equity firm Ford Financial Fund.
  • Lazard Ltd served as financial adviser to Rabobank NA, and Credit Suisse Group AG advised Mechanics.

United States

Russian metals tycoon Deripaska sues U.S. over sanctions

Reuters | Mar 15, 2019 at 10:55 PM
  • Russian tycoon Oleg Deripaska sued the United States on Friday, alleging that it had overstepped its legal bounds in imposing sanctions on him and made him the “latest victim” in the U.S. probe into Moscow’s alleged election interference.
  • In what legal experts called a long shot attempt, Deripaska asked a federal court in Washington to block the U.S. Treasury Department from using the “devastating power” of such sanctions.
  • It asks the court to order OFAC to hand over evidence and other records and remove Deripaska from the sanctions list.

United States

How Asset Inflation Will End – This Time

Zero Hedge | Mar 15, 2019 at 9:50 PM
  • Life after death for asset inflation: this is what happens when “speculative fever” remains high even after monetary inflation has paused.
  • In many past business cycles, analysts in search of when the expansion and asset inflation are set to wane look for areas of unsustainable rises for key economic aggregates.
  • The illusion of economic moderation has fanned the carry trade into high yield credit and more broadly equity market valuations – and so the fall will be all the greater.

United States

Punjab & Sind Bank to raise equity capital of Rs 500 cr via QIP

Money Control | Mar 15, 2019 at 9:17 PM
  • State-owned Punjab & Sind Bank on Friday said it would raise up to Rs 500 crore by issuing fresh equity shares through qualified institutional placement.
  • The decision was taken at the extraordinary general meeting of shareholders held here.
  • Stock of Punjab & Sind Bank closed 0.33 per cent down at Rs 30.15 on the BSE.

Pakistan

Apna Bank earns Rs100.5m profit

The Nation | Mar 15, 2019 at 8:52 PM
  • The Board meeting of Apna Micro Finance Bank Limited was conducted at its head office here on Friday.
  • Shahid and attended by its Board of Directors Immad Mohammad Tahir, Saleem Sheikh, Mohammad Asghar, Imam Bakhsh Baloch and Syed Rahat A Shah.
  • From management side the meeting was attended by President and CEO Mr. Gulistan Malik and Chief Financial Officer Mr. A. Murtaza.