Business

Russia pushes to rid itself of `Potemkin` banks by 2019

Russia pushes to rid itself of `Potemkin` banks by 2019

Published 06/03/2017

Russia's Deputy Central Bank Governor Vasily Pozdyshev speaks during an interview with Reuters in Moscow, Russia, September 20, 2016. Picture taken September 20, 2016. REUTERS/Sergei Karpukhin

Russia plans to extend a review of bank licenses for another two years, shutting down scores more banks after closing hundreds in the past four years, mostly for committing fraud or other crimes, a central bank deputy governor said in an interview.

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Indonesian, South Korean central banks renew local currency swap arrangement

Published 06/03/2017

The central banks of Indonesia and South Korea on Monday renewed a bilateral local currency swap arrangement to promote trade and financial cooperation between the two countries, Bank Indonesia (BI) said.

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China regulator asks banks to assess liquidity position, credit risks

Published 06/03/2017

China's banking regulator has asked banks to inspect how they monitor their liquidity positions and how much credit risk they are carrying, according to a notice seen by Reuters.

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South Korea`s Lotte says 4 retail stores in China closed amid political tension

South Korea`s Lotte says 4 retail stores in China closed amid political tension

Published 06/03/2017

A Lotte Mart is seen closed in Hangzhou, Zhejiang province, China, March 5, 2017. REUTERS/Stringer

South Korea's Lotte Group said on Monday four of its retail stores in China were closed after inspections by authorities, as Seoul protests at discriminating action by China after Lotte agreed to provide land for a U.S. missile defense system.

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Stocks drop as markets wary of Fed, geopolitical tensions

Stocks drop as markets wary of Fed, geopolitical tensions

Published 06/03/2017

People walk past an electronic board showing Japan's Nikkei average outside a brokerage in Tokyo, Japan, November 18, 2016. REUTERS/Toru Hanai

U.S. stock futures dropped and Asian shares were on the defensive on Monday as investors weighed the near-certain prospect of an interest rate hike in the United States this month against news of slower growth in China this year.

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Euro zone Feb business growth fastest in nearly six years: PMI

Euro zone Feb business growth fastest in nearly six years: PMI

Published 03/03/2017

A man works at the assembly line in the truck production plant of truck and bus-maker MAN AG in Munich, Germany July 30, 2015. REUTERS/Michaela Rehle

Activity in euro zone businesses grew at its quickest pace in nearly six years in February and job creation reached its fastest in almost a decade, driven by robust demand and exports, a survey found.

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LSE-Deutsche Boerse HQ would be in London: LSE CEO

LSE-Deutsche Boerse HQ would be in London: LSE CEO

Published 03/03/2017

London Stock Exchange CEO Xavier Rolet reacts during a conference on financial regulation, in London, Britain November 11, 2015. REUTERS/Suzanne Plunkett

If the merger of the London Stock Exchange and Deutsche Boerse goes ahead, it would have its head office in London as planned, LSE Chief Executive Xavier Rolet said on Friday.

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French private sector grows at fastest pace since May 2011: PMI

French private sector grows at fastest pace since May 2011: PMI

Published 03/03/2017

Businessmen are seen on the esplanade of La Defense, in the financial and business district in La Defense, west of Paris, September 19, 2014. REUTERS/Christian Hartmann

Activity in the French private sector picked up in February to expand at a pace not seen since 2011, helped by a recovery in the hotel and restaurant business that had been hit by declining tourism, a survey showed on Friday.

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German services sector growth strengthens in Feb: PMI

German services sector growth strengthens in Feb: PMI

Published 03/03/2017

Loading cranes are seen at a shipping terminal in the harbour in Hamburg September 18, 2014. Picture taken September 18. REUTERS/Fabian Bimmer

Growth in Germany's services sector accelerated in February after weakening to a four-month low at the start of the year, a survey showed on Friday, suggesting Europe's largest economy will post healthy growth in the first quarter.

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Germany offers Egypt $500 million to support economy

Published 03/03/2017

Germany has offered Egypt $500 million to support its economic program and medium-sized and small businesses, the Egyptian ministry of investment and international cooperation said on Friday.

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