Finance news

• China seen posting weakest growth since 2009 in third quarter, may spur more stimulus

  18-10-2015 23:05 via news.yahoo.com
  
  By Kevin Yao BEIJING (Reuters) - China is expected to post its weakest quarterly economic growth since the global financial crisis on Monday, raising pressure on policymakers to roll out more interest rate cuts and other support measures to avert a sharper slowdown. Chinese leaders have been trying to reassure jittery global markets for months that Beijing is able to manage the world's second-largest economy after a shock devaluation of the yuan and a summer stock market plunge fanned fears of a
  
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• Brazil's president backs finance minister, austerity drive

  18-10-2015 20:18 via news.yahoo.com
  
  Brazil President Dilma Rousseff on Sunday expressed support for Finance Minister Joaquim Levy and said the government will continue efforts to push austerity measures through Brazil's Congress. "Finance Minister Levy stays," Rousseff told reporters during a visit to Sweden, following a flurry of speculation in Brazilian media in recent days that the finance chief was getting ready to step down. The comments come as Rousseff, a beleaguered leftist struggling to revive an economy now in its worst
  
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• Canada's contenders rally voters as election enters final stretch

  18-10-2015 19:56 via news.yahoo.com
  
  By Rod Nickel and Allison Lampert NEWMARKET/TORONTO, Ontario (Reuters) - Canada's Conservative Prime Minister Stephen Harper and his allies called on voters to turn out to cast their ballot on Sunday as campaigning in the closely fought, prolonged election entered its final stretch. Fighting for a rare fourth term as prime minister and lagging behind Liberal leader and frontrunner Justin Trudeau in the polls, Harper used a rally in Newmarket-Aurora, just north of Toronto, to again tout his econo
  
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• Typically Greek, delayed land register is never-ending epic

  18-10-2015 17:26 via news.yahoo.com
  
  By Paul Taylor and Lefteris Papadimas ATHENS (Reuters) - When Greece applied for its first international bailout in 2010, only two countries in Europe lacked a computerized register of land ownership and usage. Experts from European Union and International Monetary Fund identified the lack of legal certainty about property rights and land usage as a major barrier to investment, proper taxation and economic development. Each of those program has made a priority of completing a land register, know
  
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• Canada's Harper rallies voters as election enters final stretch

  18-10-2015 17:06 via news.yahoo.com
  
  By Rod Nickel NEWMARKET, Ontario (Reuters) - Canada's Conservative Prime Minister Stephen Harper and his allies called on voters to turn out to cast their ballot on Sunday as campaigning in the closely fought, prolonged election entered its final stretch. Fighting for a rare fourth term as prime minister and lagging behind Liberal leader and frontrunner Justin Trudeau in the polls, Harper used a rally in Newmarket-Aurora attended by about 600 supporters to again tout his economic track record.
  
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• MIDEAST STOCKS-SABIC boosts Saudi after Q3 beat; FX fears hit Egypt

  18-10-2015 16:24 via news.yahoo.com
  
  * SABIC profit falls 9.4 pct but cost-cutting limits drop * Sahara Petrochemical shares jump on Q3 earnings * Other Gulf markets much more subdued * Egypt c.bank action may signal period of currency weakness By Andrew Torchia DUBAI, Oct 18 (Reuters) - Better-than-expected earnings at top petrochemical producer Saudi Basic Industries boosted the Saudi stock market on Sunday, while most Gulf bourses moved little and Egypt fell on fears of currency depreciation. SABIC reported a 9.4 percent drop in
  
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• China's Premier Li calls for ongoing financial reform, as economy slows

  18-10-2015 15:00 via news.yahoo.com
  
  China's Premier Li Keqiang has called for continued reform of the country's financial system, while admitting the government faces significant obstacles to achieving its economic targets. Li's comments, which were only released on Sunday, come a day before the Chinese government is due to release third-quarter gross domestic product (GDP) growth figures. Many economists expect China to report that July-Sept economic growth dropped below 7 percent for the first time since the global financial cri
  
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• INSIGHT-Typically Greek, delayed land register is never-ending epic

  18-10-2015 14:00
  * Bureaucracy, political interference, graft obstruct project
  
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• Sub-Saharan Africa debt issuance down a third so far this year

  18-10-2015 13:19 via news.yahoo.com
  
  Debt issuance in sub-Saharan Africa fell by nearly a third to $10.3 billion in the first nine months of the year, data from Thomson Reuters showed on Sunday, as sinking currencies and faltering economies forced borrowers to take a breather. South Africa, the continent's most advanced economy, was the biggest issuing country, accounting for almost half of the activity, followed by the Ivory Coast with 25 percent, Thomson Reuters' quarterly investment banking analysis showed. The value of merger a
  
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• MIDEAST STOCKS-SABIC Q3 beat lifts Saudi; FX fears pull down Egypt

  18-10-2015 10:59 via news.yahoo.com
  
  DUBAI, Oct 18 (Reuters) - Saudi Arabia's stock market rose early on Sunday after top petrochemical producer Saudi Basic Industries Corp beat earnings estimates, while Egypt continued dropping on fears of more currency depreciation. SABIC reported a 9.4 percent drop in third-quarter net profit to 5.6 billion riyals ($1.49 billion) due to slumping product sales prices, but it beats analysts' average forecast of 4.36 billion riyals because of cost-cutting. That was enough to boost the stock by 2.9
  
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• Bank of China votes for IPO of aviation leasing unit in HK

  18-10-2015 09:52
  BEIJING (Reuters) - Bank of China Ltd, the country's fourth biggest commercial bank, has voted to spin off its aviation leasing unit in a Hong Kong share sale, the lender said in a statement to the...
  
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• Saudi's SABIC Q3 profit falls 9.4 pct, extends earnings slump

  18-10-2015 07:14 via news.yahoo.com
  
  Saudi Basic Industries Corp (SABIC), one of the world's largest petrochemicals groups, reported a 9.4 percent drop in third-quarter net profit on Sunday, extending a profit slump as product sales prices declined. SABIC made a net profit of 5.6 billion riyals ($1.49 billion) in the three months to Sept. 30, down from 6.18 billion riyals in the year-earlier period, the company said in a bourse statement. Although SABIC, which is 70 percent state-owned, attributed the profit fall to lower sales pri
  
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• China must hasten infrastructure investment to stabilize growth - state advisor

  18-10-2015 07:11 via news.yahoo.com
  
  Increased infrastructure investment is key to stabilizing China's economic growth, a top state advisor said on Sunday, while calling on the central bank to lower the cost of financing for companies and increase overall credit. "Keeping relatively high growth of infrastructure investment is key to stabilizing economic growth" since property and manufacturing investment remains weak, said Yu Bin, head of the micro economy research department at the State Council's Development Research Centre. Chin
  
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• Exclusive - China's Xi lauds Britain for 'visionary' openness, prods others to emulate

  18-10-2015 05:12 via news.yahoo.com
  
  Chinese President Xi Jinping heaped praise on Britain for what he called a "visionary and strategic choice" to strengthen commercial ties with China, as he prepared for a state visit to the United Kingdom that's expected to be richer in pomp and considerably warmer in tone than his recent trip to the United States. The trip comes at a time of global anxiety about China's slowing growth. China itself is worried about the slowing of the broader global economy, Xi said, even while he expressed conf
  
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• Exclusive Q&A with Chinese President Xi Jinping

  18-10-2015 05:11 via news.yahoo.com
  
  (Reuters) - Chinese President Xi Jinping arrives in Britain on Monday for a state visit at the invitation of Queen Elizabeth II, the first state visit to the United Kingdom by a Chinese leader since 2005. In advance of the trip, President Xi conducted a written interview with Reuters, providing written answers to questions posed in writing by Reuters. Q: Britain says it wants to be China's best partner in the West, and that its economy is wide open to Chinese investment.
  
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