Greece's Tsakalotos to be sworn in as finance minister: source

JUL 6, 201511:33 PM

[ATHENS] Greece's top negotiator in aid talks with creditors, Euclid Tsakalotos, will be sworn in as finance minister on Monday after the shock resignation of Yanis Varoufakis, a Greek presidency source said.

"Tsakalotos will be sworn in with the political oath as finance minister," the presidency official said.

REUTERS

    
 

Greece to extend bank holiday for at least a few more days: bankers

JUL 6, 201510:00 PM

[ATHENS] Greece's government plans to extend the closure of banks beyond Monday by at least a few more days, four banking sources said ahead of a meeting between bankers and the finance minister later on Monday.

Last week, Greece issued a decree imposing capital controls and ordered banks to shut after the European Central Bank froze a vital financial lifeline following the breakdown of bailout talks between Athens and its foreign creditors.

The decree expires on Monday and the government is expected to issue a new decree to replace it. "The bank holiday will be extended, until Friday or next Monday," one senior banker told Reuters.

REUTERS

Manulife US Reit IPO delayed: source

By

Kelly Taykellytay@sph.com.sg@KellyTayBT

In light of increased volatility in the equity capital market, the initial public offering (IPO) of Manulife US Reit (real estate investment trust) has been delayed, a banking source told The Business Times. 

PHOTO: MANULIFE SINGAPORE

JUL 6, 20159:03 AM

IN light of increased volatility in the equity capital market, the initial public offering (IPO) of Manulife US Reit (real estate investment trust) has been delayed, a banking source told The Business Times.

Depending on market conditions, the IPO is expected to proceed at a later date.

The US Reit, which was set to launch its S$629 million IPO in Singapore in the second half of 2015, had earlier lodged its preliminary prospectus with the Monetary Authority of Singapore.