Category: INTERNATIONAL
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Malaysia Keeps Benchmark Rate on Hold as Currency Faces Pressure
Malaysia’s central bank kept its benchmark interest rate unchanged for a third straight meeting to help bolster the currency as policymakers in emerging economies gird themselves for tighter U.S. monetary policy. Bank Negara Malaysia held its key rate at 3 percent, it said in a statement in Kuala Lumpur Thursday, as predicted by all 17…
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London Banker Stakes Claim in Ancient Mining Area on Lithium Bet
A London banker has joined the rush for one of the world’s hottest metals by staking a claim in an ancient U.K. mining region. Jeremy Wrathall, head of mining research at Investec Plc, secured exploration rights to swathes of land in Cornwall, where mining dates back to before the Roman Empire. He says the region…
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European Stocks Steady as Banks Advance Ahead of ECB Meeting
European stock benchmarks were little changed as investors awaited the European Central Bank’s policy meeting, when they’ll look for clues as to when the institution may begin curtailing its stimulus measures. The Stoxx Europe 600 Index rose fractionally to 363.1 at 08:14 a.m., with the banking sector climbing 0.6 percent. The Stoxx 600 has been…
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U.K.’s Hammond Says Confident Pound Will Find Appropriate Level
U.K. Chancellor of the Exchequer Philip Hammond said he’s confident the pound will find an “appropriate level” as Britain progresses with its plan to exit the European Union. While short-term movements in the currency “can be irritating at times,” the U.K. government has “a high degree of confidence in forex markets,” Hammond said in an interview…
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U.S exchanges rent helicopter, drape banner in pursuit of Snapchat IPO
This past November, Nasdaq Inc (NDAQ.O) hired a helicopter to film Manhattan’s skyline using Snapchat’s new video-camera sunglasses and sent the aerial footage to its social media followers. The New York Stock Exchange – its arch-rival – on the same day tweeted a video shot from the floor of its exchange, showing that it too…
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Indian government wants Apple, but not all officials are biting
Some Indian officials have baulked at Apple’s (AAPL.O) demands for concessions before it assembles iPhones there, raising doubts about a spring deadline to launch a key project in Prime Minister Narendra Modi’s campaign to lure foreign investors. The country is still keen for the U.S. tech giant to produce its signature smartphones there, and Information…
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China says it can resolve trade disputes with new U.S. government
China and the United States can resolve any trade disputes through talks, the government said on Thursday, as a Chinese newspaper warned U.S. business could be targets for retaliation in any trade war ushered in by President-elect Donald Trump. Trump, who is sworn into office on Friday, has criticized China’s trade practices and threatened to…
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Asian shares down, dollar firms on Yellen’s rate hike signal
Asian shares slipped on Thursday and the dollar rebounded after Federal Reserve Chair Janet Yellen signaled that the U.S. central bank is poised to pursue a path of steady interest rate hikes. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS slumped 0.3 percent. Financial spreadbetters see modest opening gains for European bourses. On Wall…
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Carlyle to become largest shareholder in S.Africa’s Global Credit Ratings
Carlyle Group has agreed to become the largest shareholder in Johannesburg-based Global Credit Ratings (GCR), the U.S. buyout fund said on Tuesday, looking to broaden the pan-African ratings agency’s services. Terms of the deal, which was first reported by the Financial Times, were not disclosed. Carlyle is set to buy around half of the equity…
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Kenya Railways Dismisses Comparisons Between SGR and Morocco, Ethiopia Projects
Kenya Railways Corporation (KR) has come to the defence of the construction of the Standard Gauge Railway following concerns over the cost compared to other railway projects in the continent. The Corporation Managing Director Atanus Maina says the Standard Gauge Railway (SGR) is built based on the needs of the country which is to primarily…