First woman to head the ECB? Not likely now, but here are some who could
The head of the European Central Bank, Mario Draghi, steps down at the end of October and the 19 euro zone countries are now looking for his replacement. Twenty-three of the 25 members of its governing council are men, including 18 of the 19 heads of national central banks of euro zone member countries. The only woman who runs ...
Belgian central bank cuts growth forecasts, warns on deficit
BRUSSELS: Belgium?s central bank cut its forecasts for growth in the euro zone?s sixth-largest economy for this year and next, principally due to slowing international trade, and said the budget deficit would deepen without action. The bank cut its forecasts for growth in gross domestic product (GDP) in 2019 to 1.2% from a previous 1.4% and in 2020 to ...
UBS switches stance with plan to offer $113 mln tax settlement in Italy
ZURICH/MILAN: UBS looks set to agree a 100 million euro ($113 million) settlement of a money laundering and tax case in Italy within the next few weeks, according to people familiar with the matter, in contrast to a similar case in France. In Italy, sources are saying it is close to clinching a settlement with the country?s tax authority, ...
Turkish central bank net international reserves at $27.92bn as of May 31
ISTANBUL: The Turkish central bank?s net international reserves stood at 165.38 billion lira ($27.92 billion) as of May 31, data showed on Friday.
Policy Of Unlimited Economic Egoism Leads To Endless Conflicts, Trade Wars - Putin
ST. PETERSBURG (UrduPoint News / Sputnik - 07th June, 2019) Unlimited economic egoism leads to endless conflicts, trade wars and other types of confrontation that goes without any rules, President said at the International Economic Forum (SPIEF) on Friday. But this is the path toward endless conflicts, including trade wars and other wars, but this is ...
Ukraine Ready For Gas Talks With Russia Only If EU Participates - Naftogaz Head
KIEV (UrduPoint News / Sputnik - 07th June, 2019) Ukrainian Naftogaz is ready to hold talks with only if the participates and any new contracts between and should meet European standards, Naftogaz CEO Andriy Kobolev said on Friday.
Russia To Continue Liberalizing Legislation On Business-State Relations - Putin
ST. PETERSBURG (UrduPoint News / Sputnik - 07th June, 2019) will continue liberalizing its legislation related to relations between law enforcement agencies and , President said on Friday at a plenary session of the International Economic Forum (SPIEF). "As for relations between and law enforcement structures, we will stick to such a logic: further ...
Russia Interested In Expanding Chinese Firms' Presence On Russian Market - Putin
ST. PETERSBURG (UrduPoint News / Sputnik - 07th June, 2019) is interested in expanding the presence of companies on its and highly appreciates the willingness of 's businesses to work jointly, President said Friday. So that foreign investors, including investors, feel most comfortable here, we continue to work on improving the climate, ...
Germany’s Opel town shows struggle for Europe to plug in electric cars
The central German city of Ruesselsheim, home to carmaker Opel, wants to build 1,300 electric car charging points by 2020, plans that would make it a frontrunner on the continent. ?But we cannot afford to top up the government money.? The number of electric cars on German roads grew fivefold between 2015 and 2018, and have risen strongly across Europe. ...
German industrial production plunges in April
BERLIN: Industrial production in Europe?s powerhouse economy Germany fell back in April, official data showed Friday, in the latest sign manufacturers are suffering from global uncertainty and trade wars. Output at producer firms fell 1.9 percent compared with March, federal statistics authority Destatis said in figures adjusted for price, seasonal and calendar effects ? the first drop since January. ...
UK clamps down on banks’ high overdraft charges
The Financial Conduct Authority (FCA), which oversees matters of consumer protection, said Britain?s ?dysfunctional overdraft market? will face the biggest shake-up in a generation with the introduction of new rules from April. ?Vulnerable consumers are disproportionately hit by excessive charges for unarranged overdrafts?Consumers cannot meaningfully compare or work out the cost of borrowing as a result of complex and ...
China has tools to handle trade war: central bank chief
There is ?tremendous? room to counter the deepening trade war, People?s Bank of China governor Yi Gang said in an interview with Bloomberg TV. ?The trade war would have a temporary depreciation pressure on renminbi, but you see, after the noise, (the) renminbi will continue to be very stable and relatively strong compared to emerging market currencies, even compared ...
Russian Gazprom, Austrian OMV Sign Memorandum Of LNG Cooperation At SPIEF
ST. PETERSBURG (UrduPoint News / Sputnik - 07th June, 2019) energy giant Gazprom and Austrian OMV signed on the sidelines of the Economic Forum (SPIEF) on Friday a memorandum of cooperation on liquefied natural (LNG), a Sputnik correspondent reported the signing ceremony.
Rising grain prices hit Asian wheat importers, but corn buyers prepared
Flour millers in Asia have been caught on the wrong side of a rally in wheat prices as they waited for the market to decline, a stark contrast to animal feed producers who booked cargoes of corn several months before prices for that grain jumped. ?Some flour millers are scrambling to get hold of supplies now (after earlier holding ...
Bundesbank slashes German growth forecasts on industry’s plight
The Bundesbank now sees 2019 GDP growth at just 0.6%, well below the 1.6% it forecast in December and it expects growth rebounding only to 1.2% next year, short of the 1.6% projected earlier. ?For economic growth and, to a lesser extent, for the rate of inflation, it is the downside risks that predominate as things stand today.? Inflation ...
Asian stocks trail US rise on US-Mexico trade deal optimism
Japan?s Nikkei 225 gained 0.5% to finish at 20,884.71, while Australia?s S&P/ASX 200 rose nearly 1.0% to 6,443.90. A modest Wall Street rally gained strength in the final hour of trading after Bloomberg reported that the US was considering delaying a 5% tariff on Mexican goods, set to go into effect on Monday. The Dow Jones Industrial Average rose ...
Europe saved $8 billion on gas bill in 2018 due to LNG, reforms – IEA
Europe saved $8 billion (?6.3 billion) on its natural gas bill last year because surging US shale production and a shake-up in EU energy markets forced Russia to change its gas pricing mechanism, the head of the International Energy Agency said on Friday. The change began, he said, when rising US gas output led Qatar, the world?s largest LNG ...
Solid US jobs report could allay fears of weakening economy
Economists have forecast that the government will report that employers added 185,000 jobs The economy is showing signs of sluggishness after having expanded at a healthy 3.1 percent annual rate in the April-June quarter With worries rising about trade wars and slower global growth, Friday?s jobs figures for May could serve as a reminder that the US economy is still mostly ...
Russian, German Energy Ministers Discuss Russian Gas Transit Via Ukraine- Russian Ministry
ST. PETERSBURG (UrduPoint News / Sputnik - 07th June, 2019) Energy Minister Alexander Novak and his counterpart, Peter Altmaier, have discussed at the Economic Forum (SPIEF) transit through , and Novak has noted that the are several options to adapt Stream 2 project to the amended EU Directive, the Energy Ministry ...
Russia's Gazprom Ready For Talks On Direct Gas Supplies To Ukraine At Lower Price - CEO
ST. PETERSBURG (UrduPoint News / Sputnik - 07th June, 2019) energy giant Gazprom is ready to start talks on direct supplies to at a reduced by 25 percent, Gazprom CEO Alexey Miller said Friday on the sidelines of the International Economic Forum (SPIEF). "We confirm the level discussed at previous meetings, the level at ...
