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Iceland’s last capital controls may be gone by year-end

Iceland’s last capital controls may be gone by year-end

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LONDON, - Iceland’s remaining capital controls should be ended by the end of the year, a top finance official said, dovetailing with a potentially radical overhaul of monetary policy that may include a peg. The country’s recovery from its crippling 2008 banking crisis was confirmed this year when it relaxed…

Moody’s warns Pakistan against growing government debt

Moody’s warns Pakistan against growing government debt

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ISLAMABAD: Pakistan’s external debt will grow to a whopping $79 billion by June this year, higher than initial estimates suggested, Moody’s Investors Service has warned. Due to increasing debt, the country’s weak fiscal strength will weigh in on its ability to afford the ever growing debt burden. In its latest…

Rising yields boost dollar, euro after French vote

Rising yields boost dollar, euro after French vote

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LONDON, – Currency markets swung back to bets on improving growth and tighter monetary policy, lifting the dollar and euro against traditional safe havens for capital including the yen and the Swiss franc. Emmanuel Macron’s election as French president turned attention away from the political concerns on both sides of…

Stocks dip as North Korea, France keep investors on edge

Stocks dip as North Korea, France keep investors on edge

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LONDON, European shares fell and the dollar dipped against the yen as tensions over North Korea and the coming weekend’s knife-edge presidential election in France kept investors nervous. Low-risk government debt, a favoured investment in uncertain times, was in demand, while gold held firm close to five-month highs touched, the…

Britain’s FTSE set for worst fall in three months as commodities weigh

Britain’s FTSE set for worst fall in three months as commodities weigh

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LONDON, British shares followed European markets down, set for their worst day’s fall in three months as lower metals and crude prices weighed on the commodities-heavy index. The FTSE 100 hit a seven-week low, down 0.9 percent, though it pared some losses after sterling fell to a day’s low as…

Bosnia’s Serb region to issue $27.2 mln-worth 5-yr bond on May 3

Bosnia’s Serb region to issue $27.2 mln-worth 5-yr bond on May 3

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SARAJEVO, Bosnia’s autonomous Serb Republic said it would issue a five-year domestic bond worth 50 million marka ($27.2 million) on May 3, increasing the amount previously planned to finance maturing debt due to the delay in release of IMF cash. The region had announced the auction of a seven-year domestic…

Canada, Ontario face hard choice as Toronto home bubble builds

Canada, Ontario face hard choice as Toronto home bubble builds

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TORONTO, Officials from Canada and its most populous province will meet to bring Toronto’s hot housing market to heel, under pressure from voters angry that speculators or foreigners are fueling a bubble in Canada’s largest city. While no immediate action is expected from the gathering of Sousa and Toronto Mayor…

Compal takes stake in subsidiary of LeEco’s Leshi Internet Information

Compal takes stake in subsidiary of LeEco’s Leshi Internet Information

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TAIPEI, Taiwan’s Compal Electronics, a supplier to Chinese technology conglomerate LeEco, has bought a 700 million yuan ($102 million) stake in a subsidiary of LeEco’s Leshi Internet Information and Technology Corp, the companies said. After the investment, Compal will hold a 2.15 percent stake in the subsidiary, Leshi Zhixin, which…

Tesco boss defends Booker deal, says many investors on board

Tesco boss defends Booker deal, says many investors on board

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LONDON, Tesco, Britain’s biggest retailer, remains committed to its agreed 3.7 billion pound ($4.7 billion) takeover of wholesaler Booker despite opposition from some big shareholders, its boss said, Tesco’s third and fourth largest investors – Schroders and Artisan Partners who together hold 9 percent of its equity – called on…

Major oil traders see high likelihood of output cuts being extended

Major oil traders see high likelihood of output cuts being extended

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LONDON, Major oil traders gathered in Switzerland this week said they expected OPEC and non-OPEC producers to extend their pact to curb output in the second half of this year, providing Russia complies. “I think the surprise so far this year is how quickly shale came back on a relatively…

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