Finance news

• Caution as Hong Kong-Shenzhen share trading link launches

  04-12-2016 22:27 via news.yahoo.com
  
  A long-delayed trading link between the Chinese city of Shenzhen and Hong Kong launches Monday, opening another door to the mainland's cosseted stock markets but a China slowdown, weak yuan and expected US rate hikes have analysts sounding a note of caution. The tie-up, similar to one that kicked off between Hong Kong and Shanghai two years ago, is being touted as the latest effort by Beijing to prove to global investors that its capital markets are gradually opening. Hong Kong authorities have
  
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• EU accuses China of wrecking 'green' goods deal

  04-12-2016 17:53 via news.yahoo.com
  
  China has scuppered attempts by world trade heavyweights to eliminate or reduce tariffs on a list of environmentally friendly products, the European Union said on Sunday. A list of around 300 "green" products had been prepared by the US and EU to be presented at WTO talks on Sunday in Geneva for the 18 participants -- including Japan, Australia, South Korea, Singapore and Turkey -- to discuss. Talks on the Environmental Goods Agreement began in July 2014, based on a proposal at the World Economi
  
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• Demonstrators march in Brazil to support corruption crackdown

  04-12-2016 16:45 via news.yahoo.com
  
  Demonstrators marched in major cities across Brazil on Sunday, protesting government corruption and a recent vote in Congress that was widely perceived as an effort to intimidate judges and prosecutors currently leading graft probes. Dressed mostly in the national colors of yellow and green, thousands of residents of Rio de Janeiro gathered along the city's Copacabana waterfront waving banners with messages like "Thieves Out!" and "We are all Sergio Moro," the judge who has overseen a historic c
  
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• After Castro's death, dissidents see changes ahead

  04-12-2016 16:20 via news.yahoo.com
  
  By Sarah Marsh SANTIAGO, Cuba (Reuters) - Now that Cuban revolutionary leader Fidel Castro is dead, one of his most prominent critics says he sees big economic and political changes to the one-party Communist system, perhaps within four years. Jose Daniel Ferrer, who leads the Patriotic Union of Cuba (UNPACU), the country's largest dissident group, says he does not expect Communist rule to crumble quickly but that change will surely come. "We will have more repression in the short term," Ferrer
  
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• Bowing out, Hollande leaves successor to fix French economy

  04-12-2016 16:06 via news.yahoo.com
  
  By Leigh Thomas PARIS (Reuters) - French voters elected Francois Hollande in 2012 on promises to fix the floundering economy. The unpopular Socialist leader, who said on Thursday he would not run in next April's presidential election, can claim some success halting the economy's decline after the financial crisis of 2008-2009, and improving the public finances. Once in office, Hollande hiked taxes on households by more than 50 billion euros ($53.4 billion) - 2.5 percent of GDP - inadvertently sn
  
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• Venezuela confirms bigger bills amid world's highest inflation

  04-12-2016 16:02 via news.yahoo.com
  
  Venezuela will introduce six new notes and three new coins starting in mid-December to help alleviate practical problems in doing business with the world's most inflationary currency, according to the central bank. Currently, the OPEC nation's largest note is worth just 2 U.S. cents on the black market, meaning cash transactions are extremely cumbersome. The bolivar currency has suffered its most dramatic monthly fall in history, down 60 percent since early November against the dollar on the bla
  
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• Novartis CEO plays down prospects for Actelion bid: Blick

  04-12-2016 13:52
  
  VIENNA (Reuters) - Novartis Chief Executive Joe Jimenez has played down suggestions the Swiss drugmaker could bid for Swiss biotech group Actelion, which is in talks with U.S. healthcare group...
  
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• Iran's Rouhani proposes budget rise as Trump election threatens growth

  04-12-2016 12:40 via news.yahoo.com
  
  By Andrew Torchia DUBAI (Reuters) - Iranian President Hassan Rouhani proposed on Sunday a state budget of about $100 billion for next year, loosening the purse strings to support economic growth as Donald Trump's election threatens to put renewed pressure on Tehran. The U.S. president-elect said during his campaign that he would scrap last year's nuclear agreement between Iran and world powers, in what would be a big blow to the Iranian economy just as it emerges from years of sanctions. Rouhani
  
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• Egypt sharply increases customs duties as it seeks to curb imports

  04-12-2016 12:24 via news.yahoo.com
  
  Egypt has sharply raised customs duties on more than 300 goods, to 60 percent for many items, to encourage domestic production and curb a ballooning trade deficit, part of a broader government effort to reform the ailing economy. The finance ministry said in a statement that the tariff increases on 320 categories of goods targeted manufactured products that are also made locally, such as carpets, ceramics and cosmetics. The finance ministry said the new tariffs would boost customs revenues by 6
  
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