Archive for the January 13, 2016
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Hungarian competition watchdog GVH has fined the local Banking Association 4 billion forints ($13.7 million) for running a database that allowed its members to share crucial business data in an unlawful way, GVH said in
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Exchange bureaus in Turkmenistan stopped selling foreign currency on Tuesday, citing an order from the central bank and prompting a jump in black market rates as ordinary Turkmens fear a fresh devaluation. Clerks at two
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American Airlines Group Inc on Tuesday said it has written off more than half a billion dollars in revenue stuck in Venezuela because of currency controls. American, the world's largest airline, said in a regulatory
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Ratings agency Moody's has downgraded Credit Suisse's debt rating while raising that of cross-town rival UBS, highlighting the contrasting stages of the two big Swiss banks' restructuring drives. Under Credit Suisse Chief Executive Tidjane Thiam,
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British industrial output suffered its sharpest fall in almost two years in November and retail spending disappointed over Christmas, denting hopes that the economy bounced back from a mid-year slowdown at the end of 2015.
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India's annual industrial output contracted in November, its worst performance in more than four years, while retail inflation picked up, complicating the central bank's task of steering monetary policy at a time of international deflation.
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Russia has nationalised a major commercial bank operating in Crimea, which had been sanctioned by the West for funding the peninsula's integration into Russia after Moscow's annexation in March 2014. The Russian National Commercial Bank
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Indonesia has allowed foreigners to own houses for up to 80 years in an effort to show a friendlier face to people who might come and bring investment with them. The Cabinet Secretariat said on
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Further interest rate hikes by the US Federal Reserve should be gradual or they risk hurting already fragile emerging economies, where many companies borrow in dollars, the head of the International Monetary Fund said on
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Chinese conglomerate Dalian Wanda Group has bought US film studio Legendary Entertainment for about $3.5 billion, turning its chairman into a Hollywood movie mogul as China's richest man steps up a drive to diversify his
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