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July 27 (Reuters) – Vietnam will leave its benchmark base rate unchanged at 8 percent in August, a senior central bank official said on Tuesday.
The State Bank of Vietnam raised the base rate to 8 percent from 7 percent at the start of December.
Last week the government reported annual inflation of 8.19 percent for July. [ID:nSGE66N00E] (Reporting by Hanoi Newsroom)
July 22 (Reuters) – Japan’s Nikkei slipped 0.6 percent to its fifth straight day of losses and a three-week closing low on Thursday, hurt by a stronger yen after Federal Reserve Chairman Ben Bernanke expressed concern about the U.S. economy.
Investors awaiting the results of European bank “stress tests” later this week were closing positions, while the yen’s rally hit shares of exporters.
The benchmark Nikkei .N225 shed 57.95 points to 9,220.88, its lowest close since July 2, while the broader Topix lost 0.5 percent to 825.48.
Credit Suisse raises UK equities to 5 percent overweight, citing better economic and earnings momentum than global peers.
The broker says in a note that it keeps continental European equities holding at 13 percent overweight as the region “has the best economic momentum of any region and less aggregate leverage than the U.S., the UK and Japan, while concerns over the euro and fiscal tightenting are overstated.”
It downgrades Japanese equities to benchmark, saying the Japanese equity market “typically underperforms four months after lead indicators peak,” though it increase its overweight on Asia excluding Japan to 25 percent from 20 percent.
“We believe the next two years will be about balance sheet concerns — and private sector, banks, government and central bank balance sheets all look in much better shape in the developed world,” Credit Suisse analysts say.
Reuters Messaging rm://dominic.lau.reuters.com@reuters.net
July 15 (Reuters) – Japan’s Nikkei average fell 1.1 percent on Thursday after the Federal Reserve’s caution on the U.S. economic recovery and souring near-term technicals prompted investors to take profits after a jump this month to three-week highs.
The benchmark Nikkei shed 109.71 points to 9,685.53, after falling as low as 9,667.00 at one stage. On Wednesday, the index rose nearly 3 percent to hit its highest close since late June.
The broader Topix lost 1.6 percent to 856.60 on Thursday. (Reporting by Aiko Hayashi)
July 14 (Reuters) – Japan’s Nikkei surged 2.7 percent on Wednesday to break above key resistance, with chip-related shares powering higher after Intel results beat expectations to ease fears about the U.S. economic recovery.
In active trade, the benchmark also got a boost from Komatsu (6301.T), which lifted its full-year forecast by 14 percent, citing better-than-expected first-half sales in Asia and Latin America, as well as a pick up in demand in Japan and the United States. [ID:nTOE66C04V]
The benchmark Nikkei .N225 climbed 258.01 points to 9,795.24, cracking resistance at the level of its 25-day moving average around 9,660. The broader Topix rose 1.9 percent to 870.73. (Reporting by Elaine Lies)
July 13 (Reuters) – Japan’s Nikkei edged lower on Tuesday, weighed down as Shanghai shares fell after China said it had no plans to relax tougher property measures anytime soon, though falls were checked by hopes for U.S. earnings later in the day.
China’s key stock index .SSEC fell 1.6 percent after the government said it would continue to rein in speculation in the country’s red-hot property sector, weighing on shares throughout Asia. [ID:nTST000264]
The benchmark Nikkei .N225 shed 0.1 percent or 10.88 points to 9,537.23 after earlier rising nearly 1 percent. The broader Topix fell 0.4 percent to 854.39.
Sustainability or CSR professionals state that factors other than compensation are largely what drew them to the field; however, they still want to be compensated fairly. As a CSR recruiter, I work directly with hiring managers. It’s my experience that hiring managers want to compensate CSR professionals fairly. Yet, I have also found that neither job seekers nor hiring managers know what is fair.
Given that transparency is a tenet of CSR, it’s ironic that CSR salaries are not more transparent. The truth is that human resources policies, and salaries for that matter, still function on the traditional operating principles of the corporate sector.
In addition, CSR is still a relatively small and nascent field with scant salary information available. Worth noting is a well done 2010 survey conducted by U.K.-based Acre Resources [PDF], which had 595 respondents, of which 150 were based in North America. However, the report does not provide information specific to the United States, nor does it provide salary information by sector or job title. Also, a valuable new report is the just-released Profile of the Profession [PDF] from the Business Council on Climate Change (BCCC), which includes a gender-specific salary comparison, and is definitely worth checking out.
What is the Truth?
I’m hoping to shed light on CSR salaries with the purpose of helping hiring managers and employees benchmark what is fair. The source of this information is the hundreds of sustainability professionals I have interviewed during my searches. In the course of the recruitment process, these professionals disclose their salary.
While the information is anecdotal, I have observed consistency across so many candidates that I am confident that the salary information I share here is valid. As such, this article has useful information for both employers and employees.
Salaries Vary at the Surface; Dig Deeper for Enlightenment
Overall, salaries vary. The salary range that I have observed for sustainability professionals ranges from $48,000 to $500,000. Not too helpful.
However, this wide range narrows when one adjusts for key factors. After taking these into account, the salaries become much more consistent and predictable.
The key factors are:
* The employer (size, sector, industry)
* Job title
* Number of years post-graduation
* Number of years professional experience plus education
* Location (For example, NYC and San Francisco are among the most expensive cities and, therefore, one often finds higher salaries)
* Reporting relationship (number of direct reports and proximity in reporting relationship to CEO)
* The overall package (benefits, bonus, vacation, etc.)
In fact, when I take these factors into consideration, CSR salaries become so consistent that I am able to guess a candidate’s salary with amazing precision.
Next Page: What are the salaries?
!–pagebreak–
What, exactly, are the salaries?
Two of the most important factors are level of the position and experience. Clearly, these are also interrelated. Let’s take a look:
Heads of Sustainability / CSR: Based on my conversations with more than 30 Director-level CSR candidates, $150,000 is the average (mean) income for Director-level CSR positions. Most commonly, Director-level salaries fall in the range of $120K-$130K. A Vice President-level leader earns about $220,000. These positions can easily reach in the $300-$350K range for base salary.
Recent MBA graduates: Those with less work-related experience, such as recent MBA graduates, can expect to earn $100,000 plus or minus $20,000 for a CSR position.
The assumption that sustainability professionals earn less than other comparable positions is false if you hold all the factors listed above constant. I call this the ceteris paribus assumption, the Latin term for “all things being equal.” If you are a hiring manager wondering what salary to offer your new CSR hire, you don’t have to look far; rather, look at who this hire’s ” “near” colleagues will be.
A CSR professional is likely to earn a similar salary to those working in the same department for which sustainability falls. In other words, if the CSR Director sits within Public Affairs, their salary will be similar to their parallel level colleagues in Public Affairs.
To test the ceteris paribus assumption, let’s visit Salary.com. Note that while Salary.com publishes salary information for such seemingly obtuse titles as “Child Life Specialist, a keyword search for “sustainability” and “responsibility” return nothing at all. Salary.com estimates that a Director of Marketing based in San Francisco with an MBA will earn $147,000. This supports my finding, as discussed above, that other marketing salaries compare evenly with sustainability salaries.
Next Page: Three areas where CSR salaries fall short.
!–pagebreak–
CSR Salaries Don’t Always Measure Up
Still, despite the desire to be fair, CSR salaries are not all together fair. They fall short in three areas:
* Transferability
* Comparing to CSR professionals who fit in departments
* Start-ups
Transferability: Lack of internal upward mobility
Once the CSR professional gets her foot in the door and lands a job, eventually they will be concerned about their own career advancement. What comes next for a CSR Manager? Is it a CSR Director? Is there availability in your company for that role? Because the CSR department within any company tends to be relatively small, the employee has fewer options for professional advancement internally. Her non-CSR co-workers have greater flexibility and internal mobility options over time.
My experience leads me to conclude that CSR employees are more committed to sustainability than they are to their employer. This leaves the employee with fewer options with their company. They have fewer options to move within the company to other departments and are more likely to move to another employer. Taking that one step further to salaries, an employee with less room for advancement and mobility has equally fewer opportunities for salary increases that would accompany a promotion.
Comparisons to other departments within the same company
We have seen that a CSR professional’s salary is in line with that of other staff in the same department as CSR sits. But, CSR departments across companies are all over the org chart. Sometimes they fall under Supply Chain, sometimes Human Resources (HR), sometimes Public Affairs. This is where CSR salaries can fall short. For example, careers in human resources are notorious for low compensation. If a CSR position is based in the HR function, then it will likely fall short compared to a CSR department housed in another company’s legal department. Start-ups: Lack of resources
Where salaries clearly fall short is within start-up situations or amongst fledgling small businesses. The unfortunate reality is that some socially responsible businesses pay their hard-working staff unfair wages. Truth be told, the candidate does not have a lot of negotiating power. One would hope that the socially-responsible employer would compensate their employees fairly, but this is not always the case.
How Do the CSR Salaries at Your Company Measure Up?
Do they fall on the low end? This isn’t necessarily a negative. Low salaries can be good for the employee. A low salary increases the employee’s flexibility and security. She becomes more adept at changing jobs. Potential employers find it attractive when a candidate takes on a lot of responsibility with a relatively low salary. Also, in the time of layoffs, her job is more secure.
Do they fall on the high end? While high salaries sound like a favorable position, they are not all good for an employee. It is those with the high salaries that are more likely to be laid off. During a downsizing exercise, the firm will often let those earning high salaries go and then hire someone new at half the salary.
What Can You Do?
A good first step would be for all involved to be more transparent about salaries, just as the CSR field strives to be more transparent overall. As a hiring manager, benchmark other companies. As an employee, agree to share your salary with someone in a comparable role at a comparable company if they agree to do the same.
Secondly, consider the position in light of the factors identified above. A better understanding of these salaries will make both employees and employers feel they are being compensated fairly.
July 12 (Reuters) – Indian bond yields fell and the rupee weakened after industrial production in May rose just 11.5 percent, much below a consensus view of a 16 percent rise. [ID:nDEL003118]
At 11:07 a.m. (0537 GMT), the yield on the benchmark 10-year bond IN078020G=CC was down 2 basis point at 7.61 percent from before the data. It had closed at 7.65 percent on Friday.
The partially convertible rupee INR=IN was at 46.70/71 per dollar, weaker than 46.66/67 beforehand. (Reporting by Swati Bhat and Neha D’silva)
July 9 (Reuters) – Japan’s Nikkei average booked its best weekly rise in seven months on Friday and market players said more gains may be in store after it moved away from a seven-month low and held above a key retracement support.
The benchmark Nikkei .N225 added 0.5 percent to 9,585.32, while the broader Topix was flat at 861.21.
The Nikkei rose 4.1 percent this week, its best weekly performance since December, as pessimism about the outlook for the global economy subsided.
Inpex (1605.T), Japan’s top oil and gas explorer, ended the day down 12.8 percent, after hitting an all-time low, and weighed on the broader market after it said it would raise up to $6.7 billion via a global share offering, diluting the value of existing shares by more than 50 percent.
The share sale is the biggest equity financing deal by a non-financial company in Japan this year, according to research company Dealogic. [ID:nTOE66706N] (Reporting by Aiko Hayashi)
(Reuters) – Japan’s Nikkei share average edged up on Tuesday, paring losses to climb back above support at a key retracement level after falling to a seven-month low.
The benchmark Nikkei started trade below 9,200, key support around the level of a 50 percent retracement from its March 2009 low to its April high on fears over China’s property market, before hitting a seven-month low of 9,091.70 and coming within sight of its next support — 9,076, a trough touched last November.
But as the yen’s gains were tempered and as Chinese stocks rose the benchmark pared its losses, closing the day up 0.8 percent or 71.26 points at 9,338.04. The broader Topix gained 1.2 percent to 847.24.
(Reporting by Shinichi Saoshiro)
July 6 (Reuters) – Japan’s Nikkei share average edged up on Tuesday, paring losses to climb back above support at a key retracement level after falling to a seven-month low.
The benchmark Nikkei .N225 started trade below 9,200, key support around the level of a 50 percent retracement from its March 2009 low to its April high on fears over China’s property market, before hitting a seven-month low of 9,091.70 and coming within sight of its next support — 9,076, a trough touched last November.
But as the yen’s gains were tempered and as Chinese stocks rose the benchmark pared its losses, closing the day up 0.8 percent or 71.26 points at 9,338.04. The broader Topix gained 1.2 percent to 847.24. (Reporting by Shinichi Saoshiro)
(Reuters) – Japan’s Nikkei edged higher on Monday, with short-covering in exporters emerging after the benchmark marked its worst week in over a month and as a key retracement level continued to provide support.
Shares of consumer lenders such as Acom Co (8572.T) sky-rocketed, with many jumping by nearly a fifth in value after the Mainichi newspaper said Osaka prefecture may set up a special financial zone where tough new lending rules would be eased.
The market shrugged off U.S. nonfarm payrolls data that showed a loss of 125,000 jobs in June and a drop in the unemployment rate to 9.5 percent, the lowest level since July 2009, with charts showing the benchmark oversold.
In thin trade, the Nikkei rose further above support at 9,200, roughly a 50 percent retracement of the move up from its March 2009 low to its high in April.
“We’re seeing a bit of short-covering now that we’re past the jobs data, but the market is going to want to see a lot of the other indicators coming up this week, including those linked to consumer spending,” said Nagayuki Yamagishi, a strategist at Mitsubishi UFJ Morgan Stanley Securities.
“But if we can close above 9,200 for three straight days — Friday, today and tomorrow — we might even see a little bit of a rebound later this week.”
But others said gains were likely to be limited to Monday.
“Knowing that U.S. markets are shut today is giving some investors the assurance to buy, but we could well see a test of support at 9,076 later this week,” said Hideki Horikawa, a senior adviser at Himawari Securities.
The benchmark Nikkei .N225 rose 0.7 percent or 63.07 points to 9,266.78, while the broader Topix gained 0.7 percent to 836.89.
The Nikkei last week lost 5.5 percent, a decline that market players said underscored its oversold condition.
The Nikkei’s slow stochastic, a measure of how oversold the market is and whether it is in a short-term up or down trend, is deep in oversold territory but pointing slightly up, while its MACD, a measure of market momentum, is falling.
Its RSI is at 34, hovering near a six-week low. A figure of 30 or below would indicate that the Nikkei is in oversold territory. It is also just a bit above its lower Bollinger Band, indicating its short-term downtrend is slightly overstretched.
But there are a large number of option triggers on Nikkei futures at 9,000 and 8,500, and Horikawa said the market remains gamma short — meaning that traders need to follow market moves to hedge their books, often leading to volatile moves.
Orders placed through foreign securities houses before the start of trade showed foreign brokers were net buyers for the first time since June 21, but the amount was only 300,000 shares.
Market players said there were few signs of foreigners in the market, noting that U.S. markets are closed on Monday for a holiday, though some said the longer-term picture is not overly bleak.
“There’s a very small chance that the global economy will take a drastic turn for the worse under the current circumstances, unless something huge happens, for instance some big European bank goes under and that freezes money flows again,” said Masaru Hamasaki, a senior strategist at Toyota Asset Management.
“Many in the market had already expected economic stimulus measures taken around the world would peak out around midyear. Once the market calms down and reality starts to be reflected in stock prices, the Nikkei could return to the 10,000 level.”
Trade was thin, with some 1.4 billion shares changing hands on the Tokyo exchange’s first section, not far from the four-month low marked last Monday. Advancing stocks outnumbered declining ones by nearly 3 to 1.
CONSUMER LENDERS
Shares of Acom shot up 26.2 percent to 1,444 yen. Promise Co (8574.T) gained 17.1 percent to 685 yen and Takefuji Corp (8564.T) jumped 17.8 percent to 298 yen, bouncing back from a record low hit last week.
Consumer lenders, which offer unsecured loans to individuals and small business owners, have been struggling for survival amid a shrinking market and stricter lending regulations.
Shares of exporters gained broadly after many fell to multimonth lows last week, with the dollar climbing further above a seven-month trough against the yen, on demand from Japanese importers.
Sanyo Electric (6764.T) climbed 3.5 percent to 118 yen after sources said on Friday the company is close to finalizing the sale of its chip unit to ON Semiconductor (ONNN.O), its latest move to shed noncore businesses to focus more on promising areas.
But shares of Fast Retailing (9983.T) slumped 1.8 percent to 13,190 yen after the company said on Friday that same-store sales at its Uniqlo casual-clothing chain fell 5.8 percent in June from a year earlier, the first year-on-year decline in two months.
Nomura Securities downgraded its rating on the firm to “neutral” from “buy,” citing falling domestic sales growth and its possible impact on earnings over the short-term.
(Editing by Chris Gallagher)
TOKYO, July 5 (Reuters) – Japan’s Nikkei edged higher on Monday, with short-covering in exporters emerging after the benchmark marked its worst week in over a month and as a key retracement level continued to provide support.
Shares of consumer lenders such as Acom Co (8572.T) sky-rocketed, with many jumping by nearly a fifth in value after the Mainichi newspaper said Osaka prefecture may set up a special financial zone where tough new lending rules would be eased.
The market shrugged off U.S. nonfarm payrolls data that showed a loss of 125,000 jobs in June and a drop in the unemployment rate to to 9.5 percent, the lowest level since July 2009, with charts showing the benchmark oversold. [ID:nN01165161]
In thin trade, the Nikkei rose further above support at 9,200, roughly a 50 percent retracement of the move up from its March 2009 low to its high in April.
“We’re seeing a bit of short-covering now that we’re past the jobs data, but the market is going to want to see a lot of the other indicators coming up this week, including those linked to consumer spending,” said Nagayuki Yamagishi, a strategist at Mitsubishi UFJ Morgan Stanley Securities.
“But if we can close above 9,200 for three straight days — Friday, today and tomorrow — we might even see a little bit of a rebound later this week.”
But others said gains were likely to be limited to Monday.
“Knowing that U.S. markets are shut today is giving some investors the assurance to buy, but we could well see a test of support at 9,076 later this week,” said Hideki Horikawa, a senior adviser at Himawari Securities.
The benchmark Nikkei .N225 rose 0.7 percent or 63.07 points to 9,266.78, while the broader Topix gained 0.7 percent to 836.89.
The Nikkei last week lost 5.5 percent, a decline that market players said underscored its oversold condition.
The Nikkei’s slow stochastic, a measure of how oversold the market is and whether it is in a short-term up or down trend, is deep in oversold territory but pointing slightly up, while its MACD, a measure of market momentum, is falling.
Its RSI is at 34, hovering near a six-week low. A figure of 30 or below would indicate that the Nikkei is in oversold territory. It is also just a bit above its lower Bollinger Band, indicating its short-term downtrend is slightly overstretched.
But there are a large number of option triggers on Nikkei futures at 9,000 and 8,500, and Horikawa said the market remains gamma short — meaning that traders need to follow market moves to hedge their books, often leading to volatile moves.
Orders placed through foreign securities houses before the start of trade showed foreign brokers were net buyers for the first time since June 21, but the amount was only 300,000 shares.
Market players said there were few signs of foreigners in the market, noting that U.S. markets are closed on Monday for a holiday, though some said the longer-term picture is not overly bleak.
“There’s a very small chance that the global economy will take a drastic turn for the worse under the current circumstances, unless something huge happens, for instance some big European bank goes under and that freezes money flows again,” said Masaru Hamasaki, a senior strategist at Toyota Asset Management.
“Many in the market had already expected economic stimulus measures taken around the world would peak out around midyear. Once the market calms down and reality starts to be reflected in stock prices, the Nikkei could return to the 10,000 level.”
Trade was thin, with some 1.4 billion shares changing hands on the Tokyo exchange’s first section, not far from the four-month low marked last Monday. Advancing stocks outnumbered declining ones by nearly 3 to 1.
CONSUMER LENDERS
Shares of Acom shot up 26.2 percent to 1,444 yen. Promise Co (8574.T) gained 17.1 percent to 685 yen and Takefuji Corp (8564.T) jumped 17.8 percent to 298 yen, bouncing back from a record low hit last week.
Consumer lenders, which offer unsecured loans to individuals and small business owners, have been struggling for survival amid a shrinking market and stricter lending regulations.
Shares of exporters gained broadly after many fell to multimonth lows last week, with the dollar climbing further above a seven-month trough against the yen, on demand from Japanese importers.
Sanyo Electric (6764.T) climbed 3.5 percent to 118 yen after sources said on Friday the company is close to finalising the sale of its chip unit to ON Semiconductor (ONNN.O), its latest move to shed noncore businesses to focus more on promising areas. [ID:nTOE66105C]
But shares of Fast Retailing (9983.T) slumped 1.8 percent to 13,190 yen after the company said on Friday that same-store sales at its Uniqlo casual-clothing chain fell 5.8 percent in June from a year earlier, the first year-on-year decline in two months.
Nomura Securities downgraded its rating on the firm to “neutral” from “buy”, citing falling domestic sales growth and its possible impact on earnings over the short-term. (Editing by Chris Gallagher)
July 5 (Reuters) – Japan’s Nikkei edged higher on Monday, with short-covering in exporters emerging after the benchmark marked its worst week in over a month and as a key retracement level continued to provide support.
Shares in consumer lenders such as Acom Co (8572.T) sky-rocketed, with many jumping by nearly a fifth in value after the Mainichi newspaper said Osaka prefecture may set up a special financial zone where tough new lending rules would be eased.
The benchmark Nikkei .N225 rose 0.7 percent or 63.07 points to 9,266.78, ending the day above support at 9,200, which is roughly a 50 percent retracement of the move up from its March 2009 low to its high in April.
The broader Topix gained 0.7 percent to 836.89. (Reporting by Aiko Hayashi)
July 1 (Reuters) – Japan’s Nikkei average fell 2 percent on Thursday, breaking a key support to hit a seven-month closing low, with market players citing a rise in risk avoidance underscored by falls on Wall Street, a higher yen and slower China manufacturing growth.
Market players said the Nikkei’s next target is just above 9,000, a low tested in November and July 2009, after the index broke 9,200, near the 50 percent retracement from the Nikkei’s March 2009 low to its high in April.
The benchmark Nikkei .N225 shed 191.04 points to 9,191.60, its lowest close since late November. It fell as low as 9,147.68 at one stage.
The broader Topix fell 1.6 percent to 828.39. (Reporting by Aiko Hayashi)
June 29 (Reuters) – Japan’s Nikkei average slipped to a three-week closing low on Tuesday as exporters fell on a stronger yen and charts remained grim, with the benchmark poised for its worst quarter since Lehman Brothers failed in 2008.
Stocks | Financials
Canon Inc (7751.T) shed 2.7 percent to 3,395 yen, Tokyo Electron (8035.T) lost 1.6 percent to 5,010 yen and Honda Motor Corp (7267.T) fell 1.3 percent to 2,647 yen.
The benchmark Nikkei .N225 shed 1.3 percent to 9,570.67, its lowest close since June 10. The broader Topix lost 1 percent to 852.19.
June 29 (Reuters) – The U.S. benchmark 10-year Treasury yield touched its lowest level since April 2009 on Tuesday, as weakness in regional equities helped spur flight-to-safety buying of government debt.
The 10-year Treasury yield dipped to 2.998 percent US10YT=RR, down about 3 basis points from late U.S. trading on Monday.
Treasuries gained a lift after Asian shares shed earlier gains and turned negative, said a trader for a U.S. financial institution.
“Flow-wise, it’s not too convincing, a little below average,” the trader said, adding that some investors may be reluctant to trade actively ahead of the quarter-end.
Ten-year note futures rose 9.5/32 in price to 122-14/32 TYv1.
In the stock market, MSCI’s broad measure of Asia-Pacific shares outside Japan fell 1.1 percent .MIAPJ0000PUS. (Reporting by Masayuki Kitano; Editing by Chris Gallagher)
June 29 (Reuters) – The U.S. benchmark 10-year Treasury yield touched its lowest level since April 2009 on Tuesday, as weakness in regional equities helped spur flight-to-safety buying of government debt.
The 10-year Treasury yield dipped to 2.998 percent US10YT=RR, down about 3 basis points from late U.S. trading on Monday.
Treasuries gained a lift after Asian shares shed earlier gains and turned negative, said a trader for a U.S. financial institution.
“Flow-wise, it’s not too convincing, a little below average,” the trader said, adding that some investors may be reluctant to trade actively ahead of the quarter-end.
Ten-year note futures rose 9.5/32 in price to 122-14/32 TYv1.
In the stock market, MSCI’s broad measure of Asia-Pacific shares outside Japan fell 1.1 percent .MIAPJ0000PUS. (Reporting by Masayuki Kitano; Editing by Chris Gallagher)
June 25 (Reuters) – India’s 10-year benchmark bond yield rose as much as 3 basis points after television channels reported the government had approved market-driven prices for petrol.
At 2:17 p.m. (0847 GMT), the benchmark 10-year bond yield IN078020G=CC was at 7.62 percent, up from 7.60 percent before the report. It had closed at 7.57 percent on Thursday. (Reporting by Swati Bhat)
June 25 (Reuters) – Russian state-owned bank VEB will run a roadshow for its benchmark Eurobond from June 28 to June 30 in the United States and Europe, a banking source told Reuters late on Thursday.
Financials
VEB, an investment vehicle of the Russian government, had earlier said it would likely place the bond in mid-2010 with a potential size of around $1 billion.
The bank picked Barclays Capital, Citi, HSBC, Societe Generale, ING Bank, VTB Capital and Troika Dialog to arrange the deal.
(Reporting by Oksana Kobzeva; Writing by Dmitry Sergeyev; Editing by Kim Coghill)
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