China's shadow banking risk shifts to booming bond market SHANGHAI, Nov 29- A year after China's financial regulators squared up to the systemic perils of "shadow banking," the threat is shifting to a booming corporate bond market, and risky borrowers' debt is finding its way into products aimed at retail investors. New corporate bond issuance leaped to 914 billion yuan in the third quarter, accounting for 29 percent of all...
| By: Nathaniel Taplin and Engen Tham
Beijing aims to refill medicine chest with "Made in China" drugs *Local drugs intensify competition as China squeezes prices. SHANGHAI, Nov 29- China, already a global powerhouse in high-tech areas from solar panels to bullet trains, is turning its industrial might to the challenge of making more of its own drugs for a vast and aging population. That has made China a sweet spot for Denmark's Novo Nordisk; the world's biggest...
| By: Ben Hirschler and Adam Jourdan
Iran moves to entice more oil, gas investment Iran is offering more flexible terms on oil price fluctuations and investment risks to make the sector attractive, the Financial Times reports.
Source: Financial Times
| By: Najmeh Bozorgmehr in Tehran
How mystery's 'queen' has sold 100M books Mary Higgins Clark, the bestselling author who has written dozens of page turners, has two rules when beginning to write a thriller, she tells CNBC.
| By: Trent Gillies
Hamstrung by Congress, Obama tries to clinch climate pact WASHINGTON— President Barack Obama is trying to negotiate a legacy-making climate change pact this coming week in Paris with one hand tied behind his back. Congress can't even agree whether global warming is real. Senate Majority Leader Mitch McConnell, R- Ky., and other GOP leaders have warned other countries not to trust any deal Obama may strike; other GOP...
Source: The Associated Press
| By: By JOSH LEDERMAN and SETH BORENSTEIN, Associated Press
Iran lures foreign investors with new oil contracts TEHRAN, Iran— Iran unveiled a new model of oil contracts Saturday aimed at attracting foreign investment once sanctions are lifted under a landmark nuclear deal reached earlier this year, and said U.S. companies would be welcome to participate. Iran has sweetened the terms, hoping to bring in $30 billion in new investment. Iran will pay foreign oil companies...
Source: The Associated Press
UPDATE 2-Large China copper smelters agree to cut production in 2016 HONG KONG, Nov 28- Nine large copper producers in China have agreed an initial plan to cut refined metal production by more than 200,000 tonnes in 2016 or around 5 percent from this year's level, an executive at one of the producers said on Saturday. The agreement followed a meeting by the producers on Saturday in Shanghai to discuss coordinated output cuts to...
| By: Polly Yam
DIARY-Top Economic Events to Dec 11 TUESDAY, DECEMBER 1 EAST LANSING, United States- Federal Reserve Bank of Chicago President Charles Evans speaks on current economic conditions and monetary policy before the Lansing Regional Chamber of Commerce Economic Club Luncheon- 1745 GMT. LONDON- Bank of England announces the results of this year's bank stress tests and publishes Financial Stability...
FOREX-Dollar rises on ECB, SNB rate-cut expectations NEW YORK, Nov 27- The dollar rose across the board on Friday, hitting an eight-month high against a basket of currencies as speculation the Swiss National Bank would follow the European Central Bank in cutting deposit rates further pushed major competitors lower. The euro rebounded in afternoon U.S. trading to move back above $1.06 after falling near...
| By: Dion Rabouin