Finance news

• EU, Berlin oppose Chinese bid for German robotics maker: report

  30-05-2016 19:18 via news.yahoo.com
  
  Top officials in Brussels and Berlin oppose a Chinese takeover bid of German industrial robotics supplier Kuka, a newspaper reported Monday. "Kuka is a successful company in a strategic sector that is of key importance for the digital future of European industry," European Digital Economy Commissioner Guenther Oettinger told the Frankfurter Allgmeine Zeitung. Oettinger also questioned whether China would allow a foreign company to take a stake in such a strategic company and said "I'm afraid not
  
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• Moscow's fourth international airport opens despite downturn

  30-05-2016 18:38 via news.yahoo.com
  
  Moscow's fourth international airport Zhukovsky officially opened Monday, but public transport problems and the economic recession put a damper on celebrations. Prime Minister Dmitry Medvedev opened the Zhukovsky airport about 40 kilometres southeast of Moscow city centre, Russian television reported. The new airport has a capacity of 2 million passengers per year, Rostec, the Russian state conglomerate that controls the airport's operating company Ramport Aero, said in a statement.
  
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• Stocks firm as US rate fear loses grip

  30-05-2016 18:14 via news.yahoo.com
  
  Equities markets across the world firmed Monday as investors lost their fear of higher US interest rates, focusing instead on signs of economic recovery. Trading volumes were, however, sharply curtailed by London and Wall Street closures due to bank holidays. "While not exactly splendid, the outlook for the eurozone economy is quite satisfactory," said Holger Schmieding, an economist with Berenberg bank.
  
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• Big airline LATAM suspends flights to Venezuela

  30-05-2016 18:04 via news.yahoo.com
  
  Latin America's biggest airline LATAM said Monday it will suspend its flights to crisis-hit Venezuela for an indefinite period, following a similar move by German carrier Lufthansa. Chile-based LATAM Airlines group and its Peruvian and Brazilian subsidiaries decided to cut the flights "due to the complex macroeconomic situation that the region is currently going through," it said in a statement. It said challenging economic conditions in Latin America were prompting changes to its domestic and i
  
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• EU debate insults UK voters' intelligence, says ex-central bank chief

  30-05-2016 16:53 via news.yahoo.com
  
  Former Bank of England governor Mervyn King has criticised arguments in the debate over Britain's European Union membership that he said "insult the intelligence of voters," British media reported on Monday. King, who steered UK monetary policy for 10 years to 2013, was speaking at Britain's Hay Festival, an arts event. Britons will decide on June 23 whether to leave or stick with the EU, with important implications for the future of Britain's economic and trade relations and for the EU itself.
  
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• Pakistan shares end lower

  30-05-2016 14:52
  
  KARACHI, Pakistan, May 30 (Reuters) - Pakistani stocks
  closed lower on Monday as investors anticipated the introduction
  of additional taxes for those who do not file income tax in the
  country's...
  
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• Zimbabwe to introduce local bank notes in October

  30-05-2016 14:37 via news.yahoo.com
  
  Zimbabwe's central bank will start circulating local bank notes in October but the country will continue to use the dollar and other foreign currencies and will not be returning to a domestic currency abandoned in 2009, its governor said on Monday. Reserve Bank of Zimbabwe governor John Mangudya described the local notes as vouchers meant to boost exports and generate foreign exchange and dismissed talk of a return to the local currency as "unfounded rumours". "We have assured the public before
  
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• Eurozone economic sentiment improves for second month

  30-05-2016 12:40 via news.yahoo.com
  
  BRUSSELS (AP) — Economic confidence is up in the 19 European countries that use the euro, a survey showed Monday, thanks in particular to greater optimism among consumers that has led to a pickup in inflation expectations.
  
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• Japan PM's proposed tax hike delay receives lukewarm response

  30-05-2016 12:35 via news.yahoo.com
  Japan's prime minister pitched a plan to delay next year's sales tax hike to fellow ruling party members on Monday, some of whom expressed concerns that such a move would signal a failure of his policies to reflate the economy out of stagnation. Prime Minister Shinzo Abe met several senior lawmakers to convey his intention to postpone the tax hike - among them, Masahiko Komura, vice president of the ruling Liberal Democratic Party. While some within his party have expressed reservations about th
  
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• Botswana's economy to return to growth this year: cenbank

  30-05-2016 11:11 via news.yahoo.com
  
  Botswana's economy will return to growth this year after contracting in 2015 as water and electricity supply stabilise, the central bank said on Monday. Consumer prices in the southern African country will remain within the bank's target of between 3 and 6 percent, the Bank of Botswana's Kealeboga Masalila said at a conference. Botswana's economy contracted 0.3 percent in 2015 due to a sharp fall in mining output as global demand for commodities sank and a severe drought pushed up inflation.
  
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• Global stocks rise after Wall Street gains

  30-05-2016 11:02 via news.yahoo.com
  
  BEIJING (AP) — Major global stock markets were mostly higher Monday and China's currency weakened after the head U.S. central banker fueled expectations of an interest rate hike this year.
  
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• EU's Juncker plans to visit Russia in June

  30-05-2016 10:17 via news.yahoo.com
  
  By Alastair Macdonald BRUSSELS (Reuters) - European Commission President Jean-Claude Juncker has agreed to attend an event in Russia next month, a Commission spokeswoman said on Monday, in a move that may stir debate on the EU's fraught relations with Moscow. "President Juncker has been invited and plans to participate in the St. Petersburg International Economic Forum on June 16," the spokeswoman said. "He will use this opportunity to convey to the Russian leadership as well as to a wider
  
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• MIDEAST STOCKS-Dubai weakens in early trade, Saudi choppy

  30-05-2016 10:01 via news.yahoo.com
  Shares in Dubai dropped in early trade on Monday as investors cashed out of stocks which have made recent gains, while Saudi Arabia's stock market was choppy. In Dubai losers outnumbered gainers 14 to six and the index was down 1.0 percent. Blue-chips Emaar Properties, which has been rising for three session, lost 1.7 percent, while Dubai Islamic Bank, which was a top gainer on Sunday, dropped 2.2 percent.
  
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• South Africa's rand slips ahead of ratings decisions, stocks to inch up

  30-05-2016 09:25 via news.yahoo.com
  
  South Africa's rand was under pressure on Monday as a likely credit downgrade due in the week weighed on sentiment and solid economic data from the United States hurt emerging markets. By 0645 GMT the rand slipped 0.4 percent to 15.7860 per dollar following a closing at 15.7250 in New York. Government bonds were flat in early trade, with the yield on the benchmark paper due in 2026 unmoved at 9.435 percent.
  
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• DP World lands deal to manage port in Somaliland: WSJ

  30-05-2016 08:49 via news.yahoo.com
  (Reuters) - DP World has reached an agreement to manage the Berbera port in Somaliland, which would allow it to become a major hub for goods to transit to and from the Horn of Africa, the Wall Street Journal reported on Sunday. Under the terms of the deal, the newspaper citing a person who has seen the document, Somaliland will grant the Dubai-based company the right to manage the Red Sea port of Berbera for 30 years. A year ago, the territory's foreign minister, Mohamed Behi Yonis, said it was
  
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• Asia shares slip, dollar firms after Yellen's hike hint

  30-05-2016 08:48 via news.yahoo.com
  
  By Lisa Twaronite TOKYO (Reuters) - Asian shares edged down on Monday while the dollar marked fresh highs after Federal Reserve Chair Janet Yellen suggested that an interest rate hike in the United States could be around the corner. The Fed should raise interest rates "in the coming months" if economic growth picks up and the labor market continues to improve, Yellen said on Friday. Financial spreadbetters predicted Germany's DAX and France's CAC 40 to each open up 0.7 percent, after Friday's ga
  
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• Nigeria plans talks with oil region on grievances, continues army crackdown

  30-05-2016 08:45 via news.yahoo.com
  
  By Ulf Laessing and Tife Owolabi ABUJA/YENAGOA, Nigeria (Reuters) - Nigeria's president on Sunday said he would hold talks with leaders in the oil-producing Delta region to address their grievances in a bid to stop a surge in pipeline attacks, but that an army crackdown would continue. People in the southern Delta region, where oil giants such as Royal Dutch Shell and Chevron operate, have for years complained about the oil industry's pollution and of economic marginalisation by the state. Some
  
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• 'Tourists go home': Spain tourism surge brings backlash

  30-05-2016 08:33 via news.yahoo.com
  
  By Sarah White PALMA DE MALLORCA, Spain (Reuters) - On the walls of the grand old houses of this Balearic port which attracts millions of foreigners every year, a new kind of graffiti has flourished: "Tourists go home". Although still a minority protest, it points to tensions in Palma de Mallorca and elsewhere in Spain over rising numbers of visitors who are propelling the economy but also disrupting the lives of locals and straining services from transport to water. With tourism accounting for
  
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• Dalian Wanda makes $4.4 billion offer to take Hong Kong-listed property arm private

  30-05-2016 07:24 via news.yahoo.com
  
  China's Dalian Wanda Group, owned by tycoon Wang Jianlin, is offering HK$34.45 billion (3 billion pounds) in cash to buy out Hong Kong-listed unit Dalian Wanda Commercial Properties, taking it private before it relists in Shanghai. The company is planning to delist just 15 months after its stock market debut, unhappy with its share performance and preferring to place its bets on an upcoming Shanghai listing where it believes it will get better valuations.
  
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• Abe tells party official Japan will delay tax hike by two-and-a-half years

  30-05-2016 04:48 via news.yahoo.com
  Japanese Prime Minister Shinzo Abe said he would delay a sales tax hike scheduled for next April by two and a half years, a senior ruling party official said after a meeting with the premier on Monday. "The premier's determination to postpone the tax increase seems to be very strong," Masahiko Komura, vice president of the ruling Liberal Democratic Party, told reporters. Komura's comments confirm what sources had told Reuters on Sunday as Abe looks to avoid dealing a hammer blow to a fragile eco
  
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• Asia shares slip, dollar firm after Yellen's hike remarks

  30-05-2016 02:44 via news.yahoo.com
  
  By Lisa Twaronite TOKYO (Reuters) - Asian shares edged down on Monday and the dollar marked fresh highs after Federal Reserve chief Janet Yellen suggested that an interest rate hike could be around the corner. The U.S. central bank should raise interest rates "in the coming months" if economic growth picks up and the labor market continues to improve, Yellen said on Friday. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.25 percent as markets pondered the Fed outlook.
  
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• Australia shares seen extending gains, NZ shares steady in early trade

  30-05-2016 01:28 via news.yahoo.com
  
  SYDNEY (Reuters) - Australian shares are seen extending gains on Monday, following a solid finish on Wall Street last week, though natural stocks could put a lid on advances after gold and oil prices slipped. Local share price index futures inched up 0.4 percent to 5,433.0, a 27.1-point premium to the underlying S&P/ASX 200 index close on Friday. The benchmark climbed to a nine-month peak in the last session and was up 3 percent so far this month. Global miner BHP Billiton is expected to ope
  
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• New credit card scrutiny sends Indonesians back to cash

  30-05-2016 01:16 via news.yahoo.com
  
  By Gayatri Suroyo and Fransiska Nangoy JAKARTA (Reuters) - Indonesia's plan to track all credit card transactions in a bid to crack down on rampant tax evasion is pushing people back to cash, stifling government efforts to track illicit money flows. A new government decree requiring credit card providers to submit transaction details - including customer and merchant identities - to the tax office as of May 31 appears to be spooking consumers with card activity falling in April. The return to pa
  
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