LATEST NEWS : MegaFon Shifts Cash to Hong Kong Dollars on Sanction Risk

OAO MegaFon (MFON), billionaire Alisher Usmanov’s wireless operator, said it has been shifting cash holdings into Hong Kong dollars, a move people say metals producer OAO GMKNorilsk Nickel (GMKN) is also undertaking, as the U.S. and Europe ratchet up sanctions against Russia. MegaFon decided to keep about 40 percent of its cash in Hong Kong dollars given the global […]

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Kazakhstan Devalues Amid Outflows From Emerging Markets

Kazakhstan’s central bank devalued the tenge by the most since 2009 as reduced bond buying by the U.S. Federal Reserve sparks capital outflows from emerging markets and the currency of its main trading partner weakens. continue reading at bloomberg.com

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