News

Wed, 30 May 2018 19:48:16 GMT

Egypt's debts rise to $82.9B in 2017

Egypt's total foreign debts rose to $82.9B in end of the year 2017, a 4.9% increase compared to the previous six months, the Central Bank of Egypt says.

Wed, 30 May 2018 19:35:37 GMT

South Sudanese President visits Ethiopia

The South Sudanese President Salva Kiir on Wednesday arrived to Addis Ababa, Ethiopia for a state visit, media reports.

Wed, 30 May 2018 19:34:42 GMT

Lithuania to hold large military drill

Lithuania plans to conduct the largest military drill, named Thunder Storm 2018, in the country's history amid security tensions in the region, the country's Defence Ministry says.

Wed, 30 May 2018 18:00:18 GMT

BoC holds rates unchanged, signals more hikes

The Bank of Canada announced its decision to keep interest rates unchanged, but signalled future rate hikes to come in the next meeting, sending the Loonie higher.

Wed, 30 May 2018 17:59:52 GMT

Mapbox partners Intel, Microsoft to provide maps for self-driving cars

Mapping startup Mapbox stated that it was teaming up with Intel, Microsoft and Softbank Group's ARM Holdings' chip unit to strengthen its push into securing maps for self-driving vehicles.

Wed, 30 May 2018 16:51:04 GMT

J.P. Morgan raises US GDP forecast to 2.75% in Q2

J.P. Morgan updated its forecast for the US economic expansion in the June quarter to 2.75% from 2.25% after the trade balance data release for April.

Wed, 30 May 2018 16:50:57 GMT

RCom plans $2.68B sale of assets to Brookfield, Jio in following weeks

Indian company Reliance Communications stated that it anticipates to finish the sale of assets to Canada's Brookfield and Reliance Jio Infocomm in coming weeks.

Wed, 30 May 2018 16:22:03 GMT

China to diminish tariffs on consumer goods imports

China is set to diminish tariffs on imports of a row of consumer goods including cosmetics, apparel, fitness products and home appliances from July 1, the government stated.

Wed, 30 May 2018 16:20:35 GMT

Russia's CB warns of higher volatility, weaker oil risks

The Central Bank of Russia stated that the country's financial sector is facing higher market volatility risks along with lower prices of oil.

Wed, 30 May 2018 15:23:58 GMT

US Q1 growth revised lower

The US economy showed sightly weaker expansion pace than initially anticipated in the Q1 due to downward revisions to consumer spending and inventory investment.

Wed, 30 May 2018 15:23:24 GMT

AirAsia shares fall as India's probe threatens plans for IPO

AirAsia Group shares decreased after India's Federal Police filed the case against the company accusing the airline of corruption, threatening to delay Indian unit's IPO and international expansion.

Wed, 30 May 2018 13:46:26 GMT

Adidas wins in a competition against Nike

Adidas have declared themselves winners in a competition against its rival Nike. Adidas have sold more World Cup shirts.

Wed, 30 May 2018 13:45:22 GMT

Beijing security fair shows off new inventions

The Beijing security fairs was at its peak on Wednesday, as various firms presented products from surveillance cameras to instant phone hackers.

Wed, 30 May 2018 13:28:00 GMT

Hedge funds differ in opinions on Italy

Various hedge funds are expressing different views on how to manage billions of US Dollars that they have bet on the Italian banking sector.

Wed, 30 May 2018 13:25:27 GMT

European Central Bank will not intervene in Italian crisis

The ECB announced on Wednesday that the central bank sees no need to react to the Italian political developments.

Wed, 30 May 2018 12:01:59 GMT

ICICI Bank to investigate allegations against CEO

India's ICICI Bank Ltd will open an inquiry into allegations that an anonymous whistle-blower made against its Chief Executive Officer Chanda Kochhar.

Wed, 30 May 2018 12:00:57 GMT

India, Indonesia to strengthen defence and maritime cooperation

India and Indonesia have agreed to strengthen their defence and maritime cooperation by constructing a naval port in the Indian Ocean and developing an economic zone at Sabang.

Wed, 30 May 2018 11:09:17 GMT

Turkey to buy jets elsewhere if the US blocks Lockheed deal

The Turkish Foreign Minister Mevlut Cavusoglu told media on Wednesday that Turkey would get jets elsewhere if the US government blocked its purchase of Lockheed Martin F-35s.

Wed, 30 May 2018 11:03:09 GMT

Greece sells 5% stake in OTE for €284M

Greece has sold a 5% stake in the country's biggest telecommunications operator OTE to Deutsche Telekom for €284M.

Wed, 30 May 2018 10:16:52 GMT

Nomura pushes back ECB rate hike forecast

The Japanese investment bank Nomura has pushed back the estimated timing for a rate hike by the European Central Bank from March 2019 to September 2019.

Wed, 30 May 2018 10:09:53 GMT

Inflation in German states jumps above ECB target in May

The Federal Statistical Office of Germany reported that inflation in five German regions, including North Rhine-Westphalia and Bavaria, exceeded the ECB target rate of 2% in May.

Wed, 30 May 2018 09:14:11 GMT

Chinese officials lash out at US threats

The Chinese authorities on Wednesday scolded the renewed US trade threats, which come just before the US Commerce Secretary visits China.

Wed, 30 May 2018 09:13:39 GMT

IMF sees risks for China

The International Monetary Fund on Wednesday announced that trade frictions are creating a significant risk for the Chinese economy.

Wed, 30 May 2018 08:02:15 GMT

Bayer gets US approval for Monsanto deal

Bayer has won the US approval for the planned Monsanto takeover, after it had agreed to sell around $9B in assets, clearing major impediments for the $62.5B deal.

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