Finance news

• Factbox: Canada's Alberta sees C$3 billion of new carbon tax revenue

  22-11-2015 23:18 via news.yahoo.com
  
  The Canadian province of Alberta, home to the country's oil sands, said on Sunday it would implement an economy-wide tax on carbon emissions in 2017, addressing long-standing criticism it is not doing enough to combat climate change. The oil sands are often criticized by environmental groups since the industry requires vast amounts of energy and water for production, exceeding pollution from more conventional sources of oil. CARBON TAX The tax would generate about C$3 billion ($2.25 billion) in
  
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• Opposition's Macri on course to win Argentine presidency: exit polls

  22-11-2015 23:08 via news.yahoo.com
  
  By Jorge Otaola and Sarah Marsh BUENOS AIRES (Reuters) - Conservative opposition candidate Mauricio Macri was on course to win Argentina's presidential election on Sunday after promising business-friendly economic reforms, three exit polls showed. Loud cheers erupted in Macri's campaign headquarters where party insiders estimated the center-right mayor of Buenos Aires had won by a margin of 5 to 8 percentage points. "This feels like a dream," said 43-year-old doctor Angela Torres inside the Macr
  
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• Slow road from Kabul highlights China's challenge in Afghanistan

  22-11-2015 23:07 via news.yahoo.com
  
  By Michael Martina and Mirwais Harooni KABUL (Reuters) - A new road linking the Afghan capital with a trade hub near Pakistan has been stuck in the slow lane since a state-owned Chinese company took the contract to build it two years ago, bedeviled by militant attacks and accusations of mismanagement. The 106 km (65 mile) highway section running most of the way from Kabul to Jalalabad had been slated for completion in April 2017, and delays will further hurt Afghanistan's ambition to promote eco
  
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• Canada's Alberta to introduce economy-wide carbon tax in 2017

  22-11-2015 21:17 via news.yahoo.com
  
  By Mike De Souza CALGARY (Reuters) - The Canadian province of Alberta, home to the country's controversial oil sands, said on Sunday it will implement an economy-wide tax on carbon emissions in 2017, addressing long-standing criticism it is not doing enough to combat climate change. The provincial government estimated the plan, including a pledge to phase out pollution from coal-fired electricity generation by 2030 and a limit on emissions from the province's oil sands industry, would generate C
  
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• Argentina's opposition takes on mighty Peronists in run-off vote

  22-11-2015 16:51 via news.yahoo.com
  
  By Sarah Marsh and Hugh Bronstein BUENOS AIRES (Reuters) - Argentines voted in a run-off election on Sunday that hands the center-right opposition, led by Mauricio Macri, its best chance in more than a decade to wrest the presidency from the populist Peronists and set the economy on a more free-market course. In a sign of Argentines' weariness with a spluttering economy, rising crime and corruption, Macri went into the country's first ever second-round ballot with a comfortable lead in opinion p
  
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• Swiss right-wing SVP's Blocher ready to compromise on EU immigration: paper

  22-11-2015 16:08 via news.yahoo.com
  
  Switzerland's right-wing Swiss People's Party (SVP) might be ready to compromise on immigration quotas adopted in a referendum last year that have led to tensions with the European Union, SVP figurehead Christoph Blocher said in a newspaper interview on Sunday. The February 2014 vote on quotas on immigration from the EU, spearheaded by the SVP, has jeopardized a host of Swiss-EU treaties governing bilateral economic ties because it undermines an agreement guaranteeing the free movement of worker
  
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• Algeria sees energy earnings, reserves dropping sharply in 2016

  22-11-2015 16:06 via news.yahoo.com
  
  By Hamid Ould Ahmed ALGIERS (Reuters) - Algeria's energy earnings are forecast to fall to $26.4 billion next year while foreign exchange reserves will dip to $121 billion after low oil prices cut into the OPEC nation's economy, Finance Minister Abderrahmane Benkhalfa said on Sunday. The North African state, a major gas supplier to Europe, has already said energy earnings will fall by 50 percent this year to about $34 billion. Algeria is considering higher taxes, import duties and a hike in subsi
  
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• ADVISORY-Global Telecom earnings snap withdrawn

  22-11-2015 15:57 via news.yahoo.com
  
  CAIRO, Nov 22 (Reuters) - The Nov. 22 snap on Global Telecom earnings has been withdrawn. It included the incorrect currency for the earnings and was previously reported on Nov. 6. STORY_NUMBER: nC6N0YN02L STORY_DATE: 11/22/2015 STORY_TIME: 14:15:05 GMT
  
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• ASEAN establishes landmark economic and security bloc

  22-11-2015 14:35 via news.yahoo.com
  
  Southeast Asian nations on Sunday established a formal community that attempts to create freer movement of trade and capital in an area of 625 million people with a combined economic output of $2.6 trillion. The community declaration was signed by leaders of the 10- member Association of Southeast Asian Nations (ASEAN) in Kuala Lumpur, this year's host of the group's annual summit. Twelve years in the making, the ASEAN community is a landmark in the 48-year history of a group founded at the heig
  
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• Argentina opposition eyes chance to win presidency after 12 years

  22-11-2015 14:02 via news.yahoo.com
  
  By Hugh Bronstein and Sarah Marsh BUENOS AIRES (Reuters) - Argentines voted on Sunday in a run-off election that hands the center-right opposition, led by Mauricio Macri, its best chance in more than a decade to wrest the presidency from the populist Peronists. A win by Macri would set Argentina's spluttering economy on a more free-market course that he promises would rebuild investor confidence. Outgoing President Cristina Fernandez, who was preceded in office by her late husband Nestor Kirchne
  
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• Crimea without power from Ukraine after electricity pylons 'blown up'

  22-11-2015 13:45 via news.yahoo.com
  
  By Jason Bush and Alessandra Prentice MOSCOW/KIEV (Reuters) - Crimea was left without electricity supplies from Ukraine on Sunday after pylons carrying power lines to the Russia-annexed peninsula were blown up overnight. It was not immediately clear who had damaged the pylons, but a Russian senator described the move as an "act of terrorism" and implied that Ukrainian nationalists were to blame. Crimea receives the bulk of its electricity from the Ukrainian mainland and its seizure by Russia las
  
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• SE Asia creates economic community, but challenges remain

  22-11-2015 10:21 via news.yahoo.com
  
  KUALA LUMPUR, Malaysia (AP) — Thirteen years after mooting the idea, Southeast Asian leaders on Sunday formally created a unified economic community in a region more populous and diverse than both the European Union and North America, and one that hopes to compete with China and India.
  
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• MIDEAST STOCKS-Saudi bounces further from chart support; Egypt edges up

  22-11-2015 10:13 via news.yahoo.com
  
  DUBAI, Nov 22 (Reuters) - Saudi Arabia's stock market bounced further from a technical support level early on Sunday, while Egypt's bourse edged up. The Saudi stock index has been rebounding in recent days from support at November's two-year low of 6,828 points. In the opening minutes of trade on Sunday it added 1.7 percent to 7,152 points, nearing resistance on the November high of 7,161 points. With Brent oil still below $45 a barrel and a lack of positive corporate news, an extended rally by
  
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• Argentina opposition has chance to win presidency after 12 years

  22-11-2015 09:17 via news.yahoo.com
  
  By Hugh Bronstein BUENOS AIRES (Reuters) - Argentina's center-right opposition, led by candidate Mauricio Macri, has its best chance in more than a decade to wrest the presidency from the populist Peronists in a run-off election Sunday and set the economy on a markedly different course. Outgoing President Cristina Fernandez, who was preceded in office by her late husband Nestor Kirchner, is as revered by the poor for her generous welfare programs as she is reviled by business for the strict cont
  
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• Brazil's new middle class faces plunge back to poverty

  22-11-2015 07:52 via news.yahoo.com
  
  Brazilian Monica de Oliveira thought she'd forever left behind those days of worrying about getting her daughter new clothes. As part of a wave of poor Brazilians to enter a basic sort of middle class in recent years, de Oliveira was a Latin American success story. Biting recession in the world's seventh biggest economy is starting to undermine the country's widely lauded progress in dragging some 40 million people out of poverty, starting in 2003.
  
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• Southeast Asia bangs the drum for single market

  22-11-2015 07:01 via news.yahoo.com
  
  Southeast Asian leaders on Sunday symbolically declared the establishment by year-end of an EU-style regional economic bloc, but diplomats admitted it will be years before the vision of a single market can be realised. At the group's annual summit, held this year in Kuala Lumpur, the heads of the Association of Southeast Asian Nations (ASEAN) signed a declaration that the bloc hailed as "a milestone in the integration process". Several years ago ASEAN set a 2015 target for launching the ASEAN Ec
  
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• ASEAN creates 'Community' at summit shadowed by terrorism worries

  22-11-2015 04:49 via news.yahoo.com
  
  By Trinna Leong and Praveen Menon KUALA LUMPUR (Reuters) - Southeast Asian nations on Sunday established a formal community that attempts to create freer movement of trade and capital in an area of 625 million people with a combined economic output of $2.6 trillion. The Community declaration was signed by leaders of the 10- member Association of Southeast Asian Nations in Kuala Lumpur, this year's host of the group's annual summit. The ASEAN Community includes a political, security and socio-cul
  
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