Finance news

• Bosnia clears last obstacles to progress toward EU, win IMF deal

  31-07-2016 23:16 via news.yahoo.com
  By Daria Sito-Sucic SARAJEVO (Reuters) - Bosnia's rival leaders agreed on Sunday on the key conditions set by the European Union for accepting the country's membership application and cleared the way for winning a much needed IMF loan deal, which was delayed three weeks ago. Bosnia, an ethnically divided Balkan nation beset by economic woes, applied to join the 28-nation EU in February and hoped Brussels would consider its membership bid at its ministerial council in mid-July but was scuppered b
  
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• Monte dei Paschi's last-ditch rescue plan faces high hurdles

  31-07-2016 18:28 via news.yahoo.com
  
  With the ink barely dry on its bailout plan, Italian bank Monte dei Paschi di Siena faces a Herculean task convincing investors to back a third recapitalization in as many years and avert a banking crisis that would send shockwaves across Europe. The plan aims to clean up and bolster the bank's balance sheet once and for all, restoring to health a lender whose frailty threatens the wider Italian banking system, the savings of thousands of retail investors and the increasingly weak political stan
  
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• Israeli cabinet approves bank reform despite stability concerns

  31-07-2016 15:20 via news.yahoo.com
  
  By Steven Scheer JERUSALEM (Reuters) - Israel's cabinet on Sunday approved legislation aimed at loosening the grip of the country's three largest banks on the credit supply market, despite opposition by the IMF and a risk that the reform could flood the economy with excess credit. The draft law, which must be ratified by parliament, "paves the way for the entry of new players in the financial and banking sector to increase competition," the Finance Ministry said. The unanimous cabinet approval w
  
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• Fraport sells stake in St Petersburg airport to Qatar

  31-07-2016 14:59
  
  FRANKFURT (Reuters) - Germany's Fraportis selling a stake in the operator of the St Petersburg airport, which is ailing from low traveler numbers due to the weakness of the Russian rouble, to the...
  
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• Telecom Egypt board tentatively agrees to buy 4G license

  31-07-2016 14:55
  
  CAIRO (Reuters) - Telecom Egypt (TE), the state-owned landline monopoly, said on Sunday its board had tentatively approved plans to buy a fourth-generation mobile license and a company official said...
  
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• Telecom Egypt board tentatively agrees to buy 4G licence

  31-07-2016 14:44 via news.yahoo.com
  (Adds quotes from TE official, background on stock market) CAIRO, July 31 (Reuters) - Telecom Egypt (TE), the state-owned landline monopoly, said on Sunday its board had tentatively approved plans to buy a fourth-generation mobile licence and a company official said it would offer the services within a year of obtaining frequencies. Egypt is selling four 4G licences as part of a long-awaited plan to reform the telecoms sector. The reforms will potentially allow Telecom Egypt, which owns a 45 per
  
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• UAE telco du needs renewed prepaid momentum to end earnings slump - CEO

  31-07-2016 11:20 via news.yahoo.com
  * Need to regain lost ground in prepaid market - CEO * Q2 profit 445.4 mln dhs, down 11.3 pct y-o-y * Seventh successive quarter of falling profit * Revenue flat despite higher data usage, revenue (Recasts, adds detail, context) By David French DUBAI, July 31 (Reuters) - Du needs to regain momentum in the prepaid mobile market if it is to counteract higher government taxes and halt an earnings slump, the chief executive of the United Arab Emirates' No.2 telecom operator said on Sunday. Osman Sul
  
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• Tunisia premier faces no-confidence vote over new govt

  31-07-2016 09:58 via news.yahoo.com
  
  Tunisia's Prime Minister Habib Essid faces a vote of no confidence in parliament on Saturday after resisting the president's proposal to help form a new unity government to push through economic reforms. Essid, a technocrat who came to office less than two years ago, has been under fire for slow progress on a financial reforms package to create growth and jobs, initiatives demanded by Tunisia's multilateral lenders. President Beji Caid Essebsi has called for a new unity government to overcome po
  
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• Reclaimed city off Singapore triggers ecology fears

  31-07-2016 05:54 via news.yahoo.com
  
  A planned multi-billion-dollar new city near Singapore is attracting interest from investors with promises of luxury living but there are questions over its future owing to China's economic woes and warnings of environmental catastrophe. Forest City, a $42 billion futuristic "eco-city" of high-rises and waterfront villas, will sit on four man-made islands on the Malaysian side of the Johor Strait just an hour from Singapore. The venture is being developed by Hong Kong-listed real estate giant Co
  
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• Helicopter money talk takes flight as Bank of Japan runs out of runway

  31-07-2016 03:00
  
  TOKYO, July 31 (Reuters) - The Bank of Japan's review of its
  monetary stimulus programme promised for September has revived
  expectations it could adopt some form of "helicopter money",
  printing money...
  
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• UPDATE 1-Chinese consortium agrees $4.4 bln deal for Caesars online games

  31-07-2016 01:11
  
  July 30 (Reuters) - A Chinese consortium that includes game
  developer Shanghai Giant Network Technology Co Ltd and
  e-commerce company Alibaba Group Holding Ltd founder
  Jack Ma has agreed to acquire...
  
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• UK firms expect growth to stagnate over next 3 months - CBI

  31-07-2016 01:01
  
  LONDON, July 31 (Reuters) - British businesses expect
  economic growth to grind almost to a halt over the next three
  months due to weaker investment and consumer confidence after
  June's vote to leave...
  
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• Chinese consortium agrees $4.4 bln deal for Caesars online games-sources

  31-07-2016 00:56
  
  July 30 (Reuters) - A Chinese consortium that includes game
  developer Shanghai Giant Network Technology Co Ltd and
  e-commerce company Alibaba Group Holding Ltd founder
  Jack Ma has agreed to acquire...
  
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• Tunisia lawmakers vote to dismiss prime minister

  31-07-2016 00:03 via news.yahoo.com
  
  By Mohammed Argoubi TUNIS (Reuters) - Tunisian lawmakers voted on Saturday to dismiss Prime Minister Habib Essid from office during a no-confidence ballot in parliament, clearing the way for a new government that must push through delayed economic reforms. President Beji Caid Essebsi also called for a new unity government to speed up reforms. Out of the 191 lawmakers present for the vote, 118 voted to sack Essid.
  
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