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| Brazil says will cancel Africa debt worth $900 mln Sunday, May 26, 2013 12:37 AM PDT ADDIS ABABA (Reuters) - Brazil will cancel or restructure almost $900 million in debt owed by African countries, a Brazilian official said on Saturday, as part of a plan to increase future funding to the continent. Latin America's economic powerhouse is increasingly expanding its economic ties with Africa, a sign of how crises in the rich world are pushing faster-growing emerging economies to trade and invest among themselves, economists say. ... Full Story | Top |
| Dubai retailer MAF eyes at least $500 million from hybrid bond Sunday, May 26, 2013 12:31 AM PDT DUBAI (Reuters) - Dubai mall developer Majid Al Futtaim Holding (MAF) is looking to raise at least $500 million from the issue of a hybrid debt sale to finance its buyout of French hypermarket chain Carrefour's stake in a regional venture. MAF, sole franchisee of Carrefour hypermarkets in the Middle East, said last week it was buying out the company's 25 percent stake in the joint venture for $680 million. In an investor presentation seen by Reuters, MAF said it had enough liquidity at hand to finance the purchase. ... Full Story | Top |
| BOJ's Kuroda says pain from bond yield rise is manageable Saturday, May 25, 2013 11:42 PM PDT  By Leika Kihara TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said the country's financial institutions have sufficient buffers against losses they may incur from rises in bond yields, as long as the market moves are driven by prospects of an economic recovery. The central bank will also be vigilant to any signs of overheating of asset prices or excessive risk-taking by financial institutions, the BOJ chief said, adding that there were no signs of that now. ... Full Story | Top |
| CA-BUSINESS Summary Saturday, May 25, 2013 10:10 AM PDT Valeant deal sparks share jump, helps TSX ends week higher TORONTO (Reuters) - Canada's main stock index reversed earlier losses on Friday after several stocks jumped on takeover moves, helping the TSX shrug off uncertainty over U.S. central bank monetary policy that hurt U.S. indices. Shares in Valeant Pharmaceutical International Inc jumped more than 13 percent to C$86.91 after a source said the company is close to a $9 billion deal to acquire eye care company Bausch & Lomb. ... Full Story | Top |
| Blackstone notifies Cohen's SAC it intends to pull money: pension consultant Saturday, May 25, 2013 10:10 AM PDT  By Matthew Goldstein (Reuters) - Billionaire hedge fund manager Steven A. Cohen is losing the financial support of Blackstone Group Inc, the largest outside investor in his embattled SAC Capital Advisors, which is yanking much of its client money, according to a letter reviewed by Reuters. A pension consultant, in a May 21 letter to clients, said Blackstone has notified Cohen that it intends to "fully redeem" a significant portion of the roughly $550 million the investment firm has invested with the $15 billion hedge fund. ... Full Story | Top |
| African Development Bank to issue second Uganda shilling bond Saturday, May 25, 2013 05:00 AM PDT NAIROBI (Reuters) - The African Development Bank (AfDB) is to launch a 12.5 billion shillings bond on the Ugandan market, the second such issue from its 125 billion shilling issuance programme launched last year. The second tranche, which is to be sold as a tap sale on the original medium-term note issued in July last year, will be open for subscription until May 27. The coupon will be 85 percent of the yield on Uganda's benchmark two-year government bond, African development bank said in statement late on Friday. ... Full Story | Top |
| Egypt to return taxes collected from Qatar bank deal Saturday, May 25, 2013 04:37 AM PDT CAIRO (Reuters) - Egypt will refund taxes collected from Qatar National Bank's acquisition of National Societe Generale Bank to shareholders on Sunday, an official from a clearing company told Reuters on Saturday. The clearing company will return 10.2 million Egyptian pounds total in taxes it collected from NSGB shareholders, said Tariq Abdel Bari, managing director of Misr for Central Clearing, Depository and Registry. ... Full Story | Top |
| Egyptian tycoon to buy MTS fiber network in new Canada push Saturday, May 25, 2013 01:13 AM PDT  By Alastair Sharp and Euan Rocha TORONTO (Reuters) - Manitoba Telecom Services Inc will sell its Allstream fiber optic network to a company controlled by telecom tycoon Naguib Sawiris for C$520 million (US$503 million), a deal that signals the Egyptian magnate is still keen on Canada. Under an agreement announced on Friday, Accelero Capital Holdings, which was founded by Sawiris and is stacked with executives from telecom companies he owns or in which he is invested, gets Allstream landline network and its 50,000 business customers. ... Full Story | Top |
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