Finance news

• Australia's not-so Snowy Mountains: Why Vail bought a ski resort Down Under

  05-04-2015 23:24
  
  SYDNEY (Reuters) - When self-confessed snowboarding addict Risma Utami planned ski trips from her adopted hometown of Sydney, conspicuously absent from the wishlist of destinations were the fields in...
  
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• Abbas rejects Israel's partial transfer of Palestinian tax revenue

  05-04-2015 22:55 via news.yahoo.com
  
  Palestinian Authority President Mahmoud Abbas said on Sunday Israel had released frozen tax revenue to the Authority but that he had ordered the funds to be returned because money had been deducted to cover debts to Israeli utility companies. Israel started withholding around $130 million a month in tax and customs revenue in December. The move came after the Palestinians announced that they were joining the International Criminal Court (ICC), a move finalised on April 1. Under international pre
  
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• Mongolia approves new phase of Rio Tinto mine project: PM

  05-04-2015 19:51 via news.yahoo.com
  
  Mongolian Prime Minister Chimediin Saikhanbileg announced on Sunday that his Cabinet has decided to proceed with the second phase of a huge foreign-invested copper and gold mine that has divided opinion in the resource-rich Central Asian nation. Saikhanbileg said in a nationally televised address that the decision regarding the Oyu Tolgoi mine was in the national interest. "As a prime minister, I recognise my responsibility of making historic decisions essential to the country." Sprawl
  
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• Azeri opposition holds rally as economy slows

  05-04-2015 18:56 via news.yahoo.com
  
  About 1,000 Azeris held a rally on Sunday to protest against rising prices and a crackdown on human rights as economic problems mount ahead of a parliamentary election this year in the oil-producing former Soviet republic. Hit by the fall in global oil prices, the ruble's drop against the dollar in neighboring Russia and the separatist war in east Ukraine, the South Caucasus country devalued the manat currency in February. With hardship growing before November's poll, some discontent has already
  
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• Turkey's Kurdish southeast eyes economic dividend from peace

  05-04-2015 17:30 via news.yahoo.com
  
  By Daren Butler DIYARBAKIR, Turkey (Reuters) - Ending the Kurdish insurgency in Turkey's impoverished southeast would unlock trade with Iran, Iraq and eventually Syria, and kick-start a local economy long left behind by the rest of the country. Jailed Kurdish militant leader Abdullah Ocalan said last month it was time to end a three-decade armed struggle that has killed 40,000 people and stunted development in the region, bringing the prospect of peace closer. "The southeast is very fertile for
  
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• Holcim looked at HeidelbergCement before Lafarge deal: newspaper

  05-04-2015 15:51
  
  ZURICH (Reuters) - Holcimlooked at buying Germany's HeidelbergCementtowards the end of 2013 before agreeing to merge with France's Lafarge , a Swiss newspaper reported on Sunday, citing two...
  
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• Six Ukrainian soldiers killed as rebel uprising marks first anniversary

  05-04-2015 15:48 via news.yahoo.com
  
  At least six Ukrainian servicemen were killed in separatist attacks on Sunday in Ukraine's troubled eastern regions in a grim weekend marking the first anniversary of a rebellion against Kiev's pro-Western rulers. Four Ukrainian soldiers died when their vehicle was hit by a shell fired by the Russian-backed rebels as it drove across a bridge in the government-held town of Schastye, 170 km (105 miles) north-east of the big regional center of Donetsk, regional police said. The conflict erupted a y
  
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• China to step up urbanization along Yangtze River

  05-04-2015 14:57 via news.yahoo.com
  
  China's government released on Sunday a framework to develop sprawling urban areas along the Yangtze River as it moves forward with a decade-long ambition to turn the Chinese heartland into a major economic belt. Although no specific investment details were released, the State Council, China's cabinet, said on its website it would designate 317,000 square kilometers along the river to become urban areas, hosting transportation and energy projects. China's top leadership has outlin
  
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• MIDEAST MONEY-Saudi firms tighten controls in wake of Mobily scandal

  05-04-2015 12:35 via news.yahoo.com
  
  * Regulators taking harder line before bourse opening * Capital Market Authority, Commerce Ministry launch probes * "Alarm bills ringing" at some listed firms * Demand, fees for auditing services rise * Pressure to clarify supervision of auditors By Marwa Rashad and Hadeel Al Sayegh RIYADH/DUBAI, April 5 (Reuters) - When Saudi Cable Co said last month it was delaying the release of its 2014 earnings statement, because it was still compiling information required by an external auditor, it was a s
  
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• MIDEAST STOCKS-Saudi Arabia falls on oil price worries after Iran nuclear deal

  05-04-2015 10:59 via news.yahoo.com
  
  (Updates with Saudi, Egyptian markets opening) DUBAI, April 5 (Reuters) - Saudi Arabia's stock market fell in early trade on Sunday after Iran's nuclear deal with world powers fuelled concern about a further decline in oil prices, which would hurt margins at Saudi petrochemical firms. If confirmed in a final agreement by a June 30 deadline, the nuclear deal would ease sanctions and allow more Iranian oil onto the market, potentially pushing down crude prices. The main Saudi stock index fell 0.9
  
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• Erdogan to visit Iran despite tensions: presidency

  05-04-2015 10:41 via news.yahoo.com
  
  Turkish President Tayyip Erdogan will visit Tehran for high level meetings on Tuesday, despite recent tensions over the Saudi-led bombing operation in Yemen. The visit has been on the cards for some time but some Iranian lawmakers had called for it to be scrapped last week after Erdogan publicly backed Saudi Arabia's operation against Iran-allied Houthi rebels in Yemen and criticized Tehran for trying to "dominate the region." Erdogan, accompanied by a delegation of Turkish minist
  
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• MIDEAST STOCKS-Dubai leads Gulf markets up after Iran nuclear deal

  05-04-2015 09:16 via news.yahoo.com
  
  (Updates with markets opening) DUBAI, April 5 (Reuters) - Dubai's stock market led Gulf bourses higher in early trade on Sunday as investors reacted to Iran's deal with world powers on its disputed nuclear programme. If confirmed in a final agreement by a June 30 deadline, the nuclear deal could eventually hurt Gulf economies to some degree by lifting international sanctions and allowing more Iranian oil onto the market, pushing down crude prices. Brent oil plunged nearly 4.0 percent on Thursday
  
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• Lacklustre quarterly earnings may lead to subdued markets

  05-04-2015 08:36 via news.yahoo.com
  
  Mumbai, April 5 (IANS) Lacklustre quarterly earnings, coupled with an expected status quo on the monetary policy by the central bank, might lead to subdued market conditions in the week starting April 6. The Indian markets are in a situation where earnings need to catch up with the expectations of the investors," Devendra Nevgi, chief executive of ZyFin Advisors, told IANS. "The language that the RBI (Reserve Bank of India) uses in its outlook statement would also be another key trigger for the
  
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• Euro weakness sparks analyst clash over currency war

  05-04-2015 08:25 via news.yahoo.com
  
  The euro's slide against the dollar has reignited talk of a "currency war", with analysts in opposing camps over whether or not countries are consciously playing with their exchange rates. War language is no stranger to modern monetary policy. The massive bond buying programmes, or quantitative easing (QE), that central banks have used in response to the financial and economic crises that have rocked the global economy since 2008 are often referred to as a bazooka. After lowering
  
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• Japan's wary manufacturers resist Abe's urge to splurge

  05-04-2015 03:00
  * PM Abe wants corporate capital spending to help fuel growth
  
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• Morphosys CEO says MOR202 drug candidate still promising - newspaper

  05-04-2015 02:01
  FRANKFURT, April 5 (Reuters) - Morphosys still believes that its MOR202 compound has a good chance of becoming a success after U.S. drugmaker Celgene scrapped cooperation on the drug candidate, the...
  
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