Monday 28th July 2014
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TICKER: MONDAY July 28th 2014: The Union Bank of the Philippines (UBP) released a 49% drop in net earnings in the first half of 2014, as it came in to just PHP3.2bn, almost half of its net earnings in the same period last year. In the April to June period alone, net income fell 36% from PHP2.18bn in the second quarter of 2013 to PHP1.6bn in the second quarter of 2014. However, it is important to note that net interest income grew by 29% year-on-year, as it came in at PHP5.2bn in the half of 2014 – Rangold chief executive Mark Bristow will present the firm’s Q2 results at noon on Thursday this week at The Forum, London Stock Exchange Around 10.00 am today some traders on Moscow Exchange’s Derivatives Market reportedly experienced difficulties entering orders via the FIX protocol, with some valid messages rejected with an error code. The FIX protocol has been functioning as usual since 11:37 am says the exchange. Moreover, the exchange stresses other protocols to access the Derivatives Market’s trading system have been functioning as usual - Société Générale Securities Services in Luxembourg has been mandated by wealth manager Bedrock, with $6bn in assets under management, to provide custody, fund administration and registrar services for its range of UCITS funds - Moody's Investors Service has assigned a first-time provisional (P)B3 corporate family rating (CFR) to Empik Media & Fashion SA Group. At the same time, Moody's has assigned a provisional (P)B2 rating to the firm’s proposed senior secured notes due 2019 to be issued at EM&F Financing AB, a wholly owned and guaranteed subsidiary of EMF, reflecting its overall ranking within the debt capital structure. The outlook on the ratings is stable. This is the first time Moody's has assigned ratings to EMF - Lithuania will adopt the euro on January 1st next year. Lithuania will become the 19th member state to adopt the euro. "Lithuania's consistent efforts have paid off: today the eurozone has opened the door for us," said Algirdas Butkevičius, prime minister of Lithuania, on the announcement. The entry of Lithuania into the euro family is of great importance for the whole euro area. "It's a demonstration of the continuing attractiveness of the single currency project and its relevance for the future of our community," added Sandro Gozi, State Secretary for European Affairs of Italy and President of the Council of the EU. The conversion rate has been set at 3.45280 Lithuanian litas to the euro – Global macro hedge fund manager Atreaus Capital is now live with SunGard’s Hedge360 Risk Reporting Service. Delivered as a managed service, the Hedge360 Risk Reporting Service provides highly customized daily risk reports, offering transparency to investors and integrated internal risk management to hedge funds. Trading a broad range of products with an emphasis on FX and commodities, in the form of both OTC derivatives and futures - AnaCap Financial Partners LLP, the specialist European financial services private equity firm, together with HIG and Deutsche Bank, have completed the acquisition of a €495m portfolio of non-performing and sub-performing loans from Volksbank Romania. Under terms of the agreement, funds advised by AnaCap will jointly acquire the entire portfolio with HIG and Deutsche Bank. The portfolio of 3,566 loans in total is backed by a mix of primarily residential, commercial real estate and development land. APS Romania will be appointed as Master Servicer. The transaction is the largest of its kind in Romania to date, and came about as a result of the ongoing pressure on financial institutions across Europe to restructure and divest assets in order to clean up balance sheets and comply with new capital requirements. After a prolonged correction following the financial crisis, the property market in Romania is now showing strong signs of improvement. GDP and unemployment have recovered on the back of labour market reforms in 2011 and an IMF financing package. House prices, which declined 38% since their peak in mid-2008, are now on the rise, with the areas surrounding central Bucharest and other main cities increasing 4% for 2013.

NeMa 2012

NeMa 2012 12 - 13 June 2012Network Risk Summit11 June 2012InterContinental, Budapest http://www.ftseglobalmarkets.com/


With over 350 attendees from the Network Management and Securities industry in 2011, NeMa has become THE most important event of the year for the network management community - bar none.

This year's forum promises to be a very important gathering for taking stock of your strategy in these challenging times, whilst forging invaluable business relationships.

Attend to benefit from:

● Fresh Insights From Senior Industry Practitioners & Advisors
● Top Level Networking That Is Considered The Most Beneficial In The Industry…And The Most Fun! In 2011 we welcomed 350+ Brokers, Global Custodians, Regional & Local Agent Banks, Regulators, Exchanges, CSDs. How else will you meet all these industry players – in just 2 days?
● Brand New Market Information Gather all the information you needed to take your business strategy forward into 2012 and beyond…
● Interactive Electronic Polling Sessions Find out how your views compare with those of your peers
Off The Record” Roundtable Lunch Discussion Groups Your chance to network with those most relevant to your prime business focus

For the latest programme and speaker line-up or to register at a 10% discount, please visit:
http://www.informaglobalevents.com/FKP2326FTSEWB

RECORD NUMBERS EXPECTED!

NeMa 2012 IS EXPECTED TO ATTRACT MORE INTEREST THAN NORMAL
GIVEN THE ATTENTION FOCUSED ON SUB-CUSTODIAN AND COUNTERPARTY RISK-MANAGEMENT: SO PLEASE BOOK EARLY

Quote VIP Code: FKP2326FTSEWB for a 10% Discount. To register, contact the organisers:
Tel: +44 (0)20 7017 7200 Fax: +44 (0)20 7017 7807 Email: info@icbi.co.uk">info@icbi.co.uk

Or book online at: http://www.informaglobalevents.com/FKP2326FTSEWB

 

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