Financial News

By Julien Ponthus LONDON – The euro’s gains fizzled and the dollar received a safe-haven boost on Monday after the Kremlin said there were no concrete plans for a summit …

BEIJING – Luxshare Precision Industry Co Ltd, an Apple Inc supplier, said on Monday it aims to raise up to 13.5 billion yuan ($2.13 billion) to fund six projects, including …

By Jesús Aguado MADRID – Under pressure from a campaign by a 78-year-old pensioner against financial exclusion of elderly people in the digital age, Spanish banks have agreed to extend …

-McDonald’s Corp on Sunday said Carl Icahn has nominated two members to its board of directors in an escalating fight over the treatment of pigs by the burger chain’s suppliers. …

By Victoria Waldersee and Ilona Wissenbach BERLIN -Mercedes-Benz expects to have factories producing exclusively electric vehicles (EVs) by the second half of the decade but will steer clear of building …

By Lisa Barrington DUBAI – Natural diamond supply has peaked and will remain stable for the next few decades, the CEO of mining giant De Beers told Reuters on Monday, …

By Elena Fabrichnaya MOSCOW – Russian ratings agency ACRA estimates that the country’s banks imported $5 billion worth of banknotes in foreign currencies in December, up from $2.65 billion a …

LONDON -OPEC+ compliance with oil output cuts rose to 129% in January, a source from the group told Reuters, as producers fell further behind their target and signalling a tight …

SEOUL – South Korea’s National Assembly approved a 16.9-trillion-won ($14.2 billion) supplementary budget on Monday aimed partly at funding the response to COVID-19 and supporting businesses hit by pandemic restrictions. …

By Mohammed Benmansour RIYADH -Oil giant Saudi Aramco is in talks with partners in China about further investments in the country, CEO Amin Nasser said on Monday. “China is an …

By Alexandra Alper and Karen Freifeld WASHINGTON/NEW YORK – President Joe Biden’s administration has prepared an initial package of sanctions against Russia that includes barring U.S. financial institutions from processing …

BERLIN -German producer prices rose in January at their fastest rate since modern records began, soaring 25% and extending a run of sharp increases likely to keep businesses under financial …

BERLIN – Germany does not think it is affected by a leak of Credit Suisse client data that was published by an investigative journalism network, a spokesperson for the finance …

BEIRUT – Lebanon’s parliament on Monday extended a law that lifts banking secrecy regulations to facilitate a forensic audit of the country’s central bank, a key condition for foreign aid …

BEIJING -China’s four biggest banks lowered mortgage rates in Guangzhou city by 20 basis points on Monday, two people familiar with the matter said – a fresh move aimed at …

By Marwa Rashad and Ron Bousso LONDON -The global liquefied natural gas (LNG) market is expected to remain tight this year following last year’s volatility which saw demand rise 6% …

By Pratima Desai LONDON – The United States and European Union countries are unlikely to impose blanket sanctions on Rusal if Russia invades Ukraine as that would exacerbate aluminium shortages, …

FRANKFURT – The German economy will probably shrink again in the current quarter as a new wave of coronavirus infections stops many people from going to work, the Bundesbank said …

(This Feb. 18 story corrects year of assessment in 18th paragraph, corrects paragraph 34 to show figure is S$1.8 bln (not S$1 bln) and removes reference to RFP in paragraph …

By Ahmed Hagagy KUWAIT CITY -State-owned Kuwait Airways on Monday announced it would now purchase 31 jets from Airbus instead of 28 as part of a restructured deal in which …

KUWAIT – Kuwait Airways has signed a $6 billion deal with Airbus, which includes the purchase of 31 new planes, Sky News Arabia said on Monday. Kuwait Airways has already …

NEW DELHI -State-run Life Insurance Corp Of India (LIC), which is planning the country’s largest IPO next month, may not sell its entire stake in IDBI Bank and can use …

SAO PAULO – Brazilian planemaker Embraer SA said on Monday its firm order backlog ended 2021 at $17 billion, the highest level since the second quarter of 2018, even after …

BEIJING -China has placed Lockheed Martin Corp and Raytheon Technologies Corp under sanctions over arms sales to Taiwan, the government said on Monday, at least the third time it has …