Standard Chartered Plc’s Asian private-bank asset growth has stagnated this year as the lender focused on wealthier clients and investment returns were curtailed by volatility in regional financial markets.
For those accustomed to the raucousness of elections in the Indian subcontinent, Europe’s own periodic festivals of democracy can seem to have the solemn bearing of a funeral. No less than the future of Europe appeared to be at stake as Germany went to the polls last weekend. The prospect of four more years for Angela Merkel, the chief enforcer of austerity, concentrated the minds of unemployed youth in Greece and Spain as well as derivatives traders in London.
Tullow Oil Plc, a U.K. explorer with most of its licenses in Africa, expects to find oil in Madagascar when it begins drilling in the south of the Indian Ocean island next year, a company official said.
Sugar prices will stay above 21 cents a pound in the next two or three years to encourage producers to boost output and meet increased demand, according to the London-based International Sugar Organization.
Oversea-Chinese Banking Corp.’s private-banking arm said its assets under management and loans will continue to grow after expanding more than 30 percent on an annualized basis in the first five months of the year.
DP World Ltd., the world’s third- largest port operator, increased container volumes at its terminals 7.5 percent in the first half, with its Asia Pacific and Indian subcontinent operations driving growth.
MTN Group Ltd., Africa’s largest wireless carrier, and Reliance Communications Ltd. of India have put negotiations over a potential linkup on hold, according to three people with knowledge of the situation.