News

03.06.2016

Protected Friday Nights for bankers Credit Suisse

Credit Suisse requires its employees too busy at work to take a breather over the weekend. An internal directive recommends employees to leave the office Friday to the maximum at 7 pm and returning at the earliest at 12 on Sunday. The document entitled "Protecting Friday Night" was sent on May 23 by e-mail to all staff of the investment banking sector in Europe, Middle East and Asia. Exceptions are possible only if there is at stake a big deal. The legislation, which in other sectors of the private or the public could probably generate surprise, is apparently regarded as necessary in a world where there are plenty of so-called "workaholic", people who are too devoted to work. These include in particular many young people, who remain in the bank behind their screens until the wee hours.

 
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03.06.2016

High Net Worth Individual undecided where to invest its assets

The wealthy clientele, given the low interest rates and the uncertainty on the financial markets, do not know where to invest their assets. The proportion of undecided, according to a study published by the Liechtenstein bank LGT, reaches 40%. Almost everyone agrees that there are no alternatives to the equity markets, but few have increased investment in this sector: the share is so remained unchanged at 44%. The study, which examined a representative sample of wealthy investors in Switzerland, Austria and Germany, shows that 25% of holders of securities judge the overvalued stock market. For the property market rises proportion to 52%.

 
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03.06.2016

Bank of England unveils untearable £5 note

It had been known for months and yesterday the Bank of England has officially unveiled the design of the new 5-pounds banknotes that will come into circulation from September 13. On one side appears the irreplaceable face of Queen Elizabeth, and on the other that of the statesman Winston Churchill, selected to replace Elizabeth Fry, nineteenth-century reform of the penitentiary system in the United Kingdom.

 
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03.06.2016

ECB upbeat but rates remain low

Interest rates will remain at current levels or lower for an extended period and the quantitative easing program will last at least until March 2017. This was stated by President of the ECB Mario Draghi stating that the Q and will last as long as there will be a correction significant inflation and that stimuli have rebalanced the risks and the economy is gradually advancing. The ECB, Draghi added, will not hesitate to act if necessary. And it recalled that the low rates are a symptom of a weak economy and that they are the right fit for restoring growth. In addition, the ECB will use all the instruments available within the framework of its mandate if necessary.

 
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03.06.2016

China: negative signals from service sector

Negative signals still come from China, with the service sector, in May shows a slower pace. While the manufacturing industry continues to falter, the indicator on services adds uncertainty about the direction of the second largest economy in the world. In May, the Purchasing Managers Index (PMI) service managers developed by Caixin and Markit fell to 51.1 from 51.8 in April, indicating a slowdown in the nation's service sector. It has disappointed the expectations were for a level 52. The figure differs slightly from the official services PMI, which, in May, fell to 53.1 from 53.5 in April.

 
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02.06.2016

OPEC: Vienna Summit didn't lead to any conclusion

OPEC fails to take any decision regarding the production, despite the efforts of Saudi Arabia's accession to merge towards a freeze of the production ceiling. The oil is reacting very badly to this news and collapses on today's minimum: WTI yields 1.7% to $ 48.16 a barrel and Brent 1.2% to $ 49.09. After 4 hours of debate, the 13 OPEC oil ministers have not found the agreement. At the opening of the debate this morning, the Minister of Qatar Mohammed Bin Saleh al-Sada said that the cartel expects a sharp decline in non-OPEC production in 2016.

 
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02.06.2016

Only five redundancies at Greubel Forsey in final

The manufacturer of luxury watches Greubel Forsey, for the first time in its history, is forced to lay off, but the deleted jobs are only five, compared to the ten originally planned. This was stated in an interview with "L'Agefi", co-founder Stephen Forsey society. "We were 115 and now we have 110," but "our priority is to maintain the continuity." Greubel Forsey produces watches, only cent a year, whose prices range from 200,000 to 1.5 million Swiss francs, made for a high range of collectors.

 
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02.06.2016

Zhukovsky airport in Moscow will be quoted on the Stock Exchange in 2017

The Zhukovsky airport, the fourth Moscow International site, opened its doors despite the decline in air traffic caused by the economic downturn and the international sanctions imposed on Russia. Inaugurated by Prime Minister Dmitry Medvedev, the airport is located in the small town of Ramenskoye, near Moscow; it is the only airport in the Russian capital belongs to foreign investors, and by 2017, it will be quoted on the Stock Exchange, the first airport in the country. The first airport operator is the Air Kyrgyzstan, Kyrgyz airline, whose flights are being transferred to the new airport in the airport Domodedovo. The airport management company, Ramport Aero, said that will have a capacity of 4 million passengers a year.

 
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02.06.2016

ECB keeps rates unchanged after Vienna meeting

According to market expectations, the European Central Bank left interest rates unchanged at the end of the Monetary Policy Council. The main rate remains stuck at a record low of 0.00%, the rate on bank deposits to -0.40% and the marginal lending facility at 0.25%. The ECB announced after the meeting that was held in Vienna. The plan of the corporate bond purchases ECB will start on June 8 and June 22 will be the turn of the maxi-Tltro loans to banks.

 
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02.06.2016

Uber: Saudi Arabia strongly believes in the Californian app

The Saudi Arabia sovereign fund invested $ 3.5 billion in Uber, bringing in $ 11 billion for the investment reserves of the American app, now owning 5% of Uber. This is the largest investment ever made in a private company by the fund: its general director Yasir Al Rumayyan will enter the board of directors. While in the Middle East Uber is spreading more peaceful and comprehensive way, one of the cities where it is growing most is Cairo. As the Financial Times notes, in Saudi Arabia, Uber is popular as a result of the transport needs, due to the fact that women are forbidden to drive.

 
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