Commercial insurers are facing hefty claims from the coronavirus crisis but are also seeing a steep rise in premiums tempting companies and industry veterans to raise capital, launch new businesses or expand into new lines. New insurance ventures sprang up after Hurricane Andrew in 1992, the 9/11 attacks in 2001 and Hurricane Katrina in 2005.
The Lebanese central bank will provide foreign currency at a fixed exchange rate of 3,900 Lebanese pounds per dollar for importers and manufacturers of essential food items, it said on Monday.
* Companies issue most convertible bonds since 2007. * Hedge funds make up smaller proportion of convertibles market. * Market could grow by $80-100 billion this year. By Elizabeth Howcroft and Abhinav Ramnarayan. The volume of convertible bond sales has reached its highest levels since 2007 this year as companies rush to raise cash to see them through the economic impact of COVID-19.
* Companies issue most convertible bonds since 2007. * Hedge funds make up smaller proportion of convertibles market. * Market could grow by $80-100 billion this year. By Elizabeth Howcroft and Abhinav Ramnarayan. The volume of convertible bond sales has reached its highest levels since 2007 this year as companies rush to raise cash to see them through the economic impact of COVID-19.
Ukraine's Central Bank Governor Yakiv Smoliy said on Friday he had resigned as a protest against the "systematic political pressure" being exerted on the bank to take decisions that were economically unsound. He accused politicians of trying to strong-arm him into cutting interest rates, letting the currency devalue and letting inflation rise, while smearing the bank with "information attacks".
Ukraine postponed its planned Eurobond sale after fund managers asked to cancel orders or for the deal to be re-priced following the resignation of the central bank governor, investor sources told Reuters.
Ukraine decided to pause a Eurobond sale after learning of the resignation of Central Bank Governor Yakiv Smoliy and consulting investors, Finance Minister Serhiy Marchenko said on Thursday.
* Smoliy complains of "systematic political pressure" * Exit could jeopardise $5 billion deal with the IMF. * Finance minister says no threat to financial stability. By Matthias Williams, Natalia Zinets and Tom Arnold.
Ukraine must maintain the independence of the central bank following the resignation of governor Yakiv Smoliy, the International Monetary Fund said on Thursday. Smoliy unexpectedly resigned on Wednesday, citing "systematic political pressure" that was preventing him from fulfilling his duties as governor.
Jefferies Financial Group (JEF) said it expects a jump in mergers of equals in the current coronavirus-stricken economic environment as companies look at cost-effective ways of increasing their scale to survive the crisis.
News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.
PDF’s require Adobe® Reader® and will open in a new window.
