Finance news

• Vatican engages outside auditor as another financial reform

  05-12-2015 19:33 via news.yahoo.com
  
  VATICAN CITY (AP) — The Vatican has engaged an outside auditor for its consolidated financial statements as part of economic reforms.
  
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• PricewaterhouseCoopers to audit the Vatican

  05-12-2015 19:26 via news.yahoo.com
  
  The Vatican on Saturday announced that accounting giant PricewaterhouseCoopers will carry out its first external audit, as Pope Francis seeks to make the Holy See's finances more transparent. PwC will work "in close cooperation" with the Vatican's Secretariat for the Economy, headed by Australian cardinal George Pell, a statement said. On Thursday the pope unexpectedly took part in a meeting of his economy council to thank its members and encourage them to continue overseeing the Vatican's admin
  
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• Exclusive: ECB lowered stimulus ambitions after hitting opposition - sources

  05-12-2015 18:50 via news.yahoo.com
  
  Hints by Mario Draghi ahead of last Thursday's ECB rate meeting that the euro zone may need another big injection of money backfired, stiffening the resolve of more conservative central bankers who criticized him for raising expectations too high, sources familiar with the discussions said. The European Central Bank President and his chief economist Peter Praet stoked expectations with dovish speeches in the weeks before the meeting but the ECB’s Governing Council concluded that markets ne
  
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• Turkey seeks alternatives to Russian energy after plane crisis

  05-12-2015 17:46 via news.yahoo.com
  
  Turkey on Saturday said it was seeking alternatives to Russian energy as relations with Moscow plunge over the downing of a warplane, with President Recep Tayyip Erdogan vowing his country will "not collapse" under sanctions. Moscow has imposed a series of economic sanctions against Ankara after Turkish fighter jets shot down a Russian jet on the Syrian border on November 24, sparking the biggest crisis between the two countries since the Cold War. Turkey says the plane strayed into its airspace
  
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• Egypt lifts 2015-16 GDP growth forecast

  05-12-2015 12:30 via news.yahoo.com
  
  Egypt revised its GDP target for the current fiscal year to 5.5 percent from 5 percent on Saturday and said its economy grew at 4.2 percent in the 2014/2015 fiscal year, up from 2.2 percent the previous year. Total GDP for fiscal year 2014/2015, which ended in June, was 2.4 trillion Egyptian pounds ($307 billion), planning minister Ashraf al-Arabi told a press conference on Saturday. Egypt said on Saturday it would increase exports to Russia by 15 percent next year to take advantage of Russian r
  
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• South Africa says committed to reducing constraints on economy after ratings blows

  05-12-2015 12:27 via news.yahoo.com
  
  By Stella Mapenzauswa JOHANNESBURG (Reuters) - South Africa's Treasury said on Saturday it was committed to reducing constraints on the ailing economy, including chronic power shortages, hours after Fitch cut its credit rating while Standard & Poor's changed its outlook to negative from stable. "Government is aware that the country’s economic growth performance needs to be improved in a sustainable manner and has therefore made the resolution of the energy challenge an immediate priori
  
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• Malaysia's anti-graft agency questions Najib over multi-million dollar deposits

  05-12-2015 09:30 via news.yahoo.com
  
  Malaysian anti-corruption officials questioned Prime Minister Najib Razak on Saturday in an investigation into deposits of funds totalling 2.6 billion ringgit ($615.53 million) into his bank accounts that have prompted calls for his resignation. The Malaysian Anti-Corruption Commission (MACC) said in a statement that Najib cooperated with its officers during the meeting, which lasted two-and-a-half-hours. A graft scandal erupted around Najib in July when the Wall Street Journal reported that inv
  
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• Malaysia's anti-graft agency questions Najib over multi-million dlr deposits

  05-12-2015 08:53 via news.yahoo.com
  
  Malaysian anti-corruption officials questioned Prime Minister Najib Razak on Saturday in an investigation into deposits of funds totalling 2.6 billion ringgit ($615.53 million) into his bank accounts that have prompted calls for his resignation. The Malaysian Anti-Corruption Commission (MACC) said in a statement that Najib cooperated with its officers during the meeting, which lasted two-and-a-half-hours. A graft scandal erupted around Najib in July when the Wall Street Journal reported that inv
  
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• Fitch downgrades South Africa's credit rating to BBB-

  05-12-2015 08:47 via news.yahoo.com
  
  Rating agency Fitch cut South Africa's sovereign credit rating by one notch to BBB-, the lowest investment grade category, on Friday, citing the slowing economy and rising debt. It assigned a stable outlook to the rating. Earlier, Standard & Poor's had kept its rating for South Africa at BBB-, also one notch above "junk" grade but changed the outlook to negative from stable, saying this reflected the view that economic growth might be lower than expected.
  
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• Volatile week may set stocks for year-end rally

  05-12-2015 03:43 via news.yahoo.com
  
  This week's back-to-back equities selloff might have been a chance to ride a U.S. stocks rally toward the end of the year, amid the goldilocks economy scenario of a strong jobs market and falling oil prices. The data likely paved the way for the Federal Reserve to raise interest rates this month for the first time in nearly a decade, while still keeping the U.S. central bank committed to a shallow and slow pace of increases. "The story today in the U.S. is growth with modest inflation, which is
  
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• Peru's Keiko Fujimori launches new presidential bid

  05-12-2015 02:04 via news.yahoo.com
  
  By Mitra Taj and Marco Aquino PARACAS, Peru (Reuters) - Keiko Fujimori, the daughter of Peru's jailed former leader Alberto Fujimori, launched her second bid for the presidency on Friday, saying she would tap the government's rainy day fund to help spur an economic recovery. Fujimori, the only woman in a field packed with political old-timers, said she would not hesitate to issue new debt if needed after dipping into the $10 billion emergency fund to finance infrastructure projects. "We have one
  
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• UPDATE 4-U.S. Supreme Court agrees to hear Puerto Rico restructuring appeal

  05-12-2015 00:05
  
  WASHINGTON/SAN JUAN, Dec 4 (Reuters) - The U.S. Supreme
  Court on Friday agreed to hear Puerto Rico's bid to reinstate a
  law that would allow restructuring of the debt-burdened U.S.
  territory's public...
  
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