ADDIS ABABA () – Ethiopia plans to award two telecoms licenses to multinational mobile companies by April 2020, the new communications regulator said on Tuesday, an apparent delay in the timeline officials had previously set. Balcha Reba, director general of the Ethiopian Communications Authority, gave the date at a press conference. In June, reported that
JERUSALEM () – For the first time in a decade, someone other than Benjamin Netanyahu will be asked to form a government in Israel. Israeli Prime Minister Benjamin Netanyahu speaks during a memorial ceremony held at the supreme court honouring former Supreme Court president Meir Shamgar who died on Saturday in Jerusalem October 22, 2019.
(Corrects rate cuts since beginning of 2019 to 1.5 percentage points) By Heather Timmons WASHINGTON, Oct 19 () – Ukraine’s economy is being buffeted by the trade conflict between China and the U.S, low interest rates in developed countries, and relatively low energy costs. The bank still plans to cut its key interest rate in
NEW YORK () – U.S. companies are responding to the lowest unemployment rate in almost 50 years by increasing their focus on automation in order to maintain healthy margins as labor costs tick higher, a analysis of corporate earnings transcripts shows. The attempt to save money through technology does not come down to just installing
STRASBOURG () – The European Commission said France and Italy draft budgets for next year might breach of European Union fiscal rules and it asked for clarification by Wednesday in letters sent to the countries’ finance ministers. FILE PHOTO: European Commissioner for Economic and Financial Affairs Pierre Moscovici presents the EU executive’s economic forecasts during
TORONTO () – The Canadian dollar weakened against the greenback on Tuesday and its heavily weighted energy sector fell on the Toronto stock market, as investors worried that a minority government would make building of new oil pipelines more difficult. FILE PHOTO: A Canadian dollar coin, commonly known as the « Loonie », is pictured in this
() – WeWork’s board has accepted a takeover plan proposed by SoftBank Group, handing control of the office-sharing startup to the Japanese firm, according to a source directly familiar with the matter. FILE PHOTO: The WeWork logo is displayed outside of a co-working space in New York City, New York U.S., January 8, 2019. /Brendan
() – PR Newswire owner Cision Ltd CISN.N will be acquired by an affiliate of private equity firm Platinum Equity in an all-cash deal valued at $2.74 billion, the company said on Tuesday. The offer represents about 18% premium to Cision’s Monday closing price of $8.45. Earlier this year, reported reut.rs/2Xzk6UJ that the company was
TORONTO () – The Canadian dollar weakened against its U.S. counterpart on Tuesday after domestic data showed a surprise drop in retail sales and as investors worried that a minority government would make building of new oil pipelines more difficult. FILE PHOTO: A Canadian dollar coin, commonly known as the « Loonie », is pictured in this
NAIROBI, Oct 22 () – Ethiopia plans to award two telcoms licences to multinational mobile companies by April 2020, breaking the state monopoly by April, the new communications regulator said on Tuesday, an apparent delay in the timeline officials had previously set. Balcha Reba, director general of the Ethiopian Communications Authority, gave the date at
LONDON () – Accounting firms have not shown a “learning curve” from the collapse of travel company Thomas Cook and builder Carillion, with urgent reform the only way to improve audit quality, a senior British lawmaker said on Tuesday. The logo of of accounting firm PricewaterhouseCoopers (PwC) is seen on a board at the St.
SARAJEVO, Oct 22 () – Bosnia’s autonomous Bosniak-Croat Federation on Tuesday raised 20 million Bosnian marka ($11.4 million) through an auction of 12-month treasury bills, aimed at helping it plug budget gap and finance maturing debt, the Finance Ministry said. Below are the auction details: 22/10/19 28/11/17 YIELD -0.195% 0.02% OFFER 20 million marka 20
LONDON, Oct 22 () – Investor Cat Rock Capital said Prosus’ 710 pence-a-share offer “dramatically undervalued” Just Eat, and offered none of the potential upside for shareholders of the agreed merger between Just Eat and Takeaway.com. “Based on historical transaction precedents and market multiples, Prosus should pay at least 5.0x Just Eat’s fiscal year 2020
STRASBOURG () – The European Commission said next year’s draft budgets for France and Italy could be in breach of European Union fiscal rules and it asked for clarification by Wednesday in letters sent to the countries’ finance ministers. FILE PHOTO: European Commissioner Valdis Dombrovskis of Latvia speaks as he attends his hearing before the
VIENNA () – Austrian sensor maker AMS (AMS.S), still has its sights on German lighting firm Osram (OSRn.DE) but is aiming to seal a cooperation agreement before remounting its bid for an all-out takeover, CEO Alexander Everke said on Tuesday. FILE PHOTO: The logo of Austrian sensor specialist AMS is seen on their factory in
() – U.S. homebuilder PulteGroup Inc (PHM.N) reported better-than-expected third-quarter profit and revenue on Tuesday, as lower mortgage rates boosted demand. The housing market, the most sensitive sector to interest rates, has perked up in recent months as the Federal Reserve’s monetary policy easing has pushed down mortgage rates from last year’s multi-year highs. Shares
STRASBOURG () – The European Council president said on Tuesday that London’s request for an extension of its deadline for divorce from the EU should be taken seriously, and the bloc’s other members would never take a decision that forces Britain out with no deal. Donald Tusk told the European Parliament that he was discussing
Oct 22 () – U.S. homebuilder PulteGroup Inc reported a 5.7% fall in third-quarter profit on Tuesday, hit by higher costs. The company’s net income fell to $273.1 million, or 99 cents per share, in the quarter ended Sept. 30, from $289.5 million, or $1.01 per share, a year earlier. Total revenue rose 2.3% to
FILE PHOTO: Brazil’s state-run Petrobras oil company headquarters is pictured in Rio de Janeiro, Brazil October 16, 2019. /Sergio MoraesZURICH () – Switzerland has pressed charges against a person in a corruption probe of Brazilian state oil company Petrobras (PETR4.SA) and construction firm Odebrecht, the attorney general’s office said, adding it was seeking to conclude
STRASBOURG () – The European Commission said next year’s draft budgets for France and Italy could be in breach of European Union fiscal rules and it asked for clarification by Wednesday in letters sent to the countries’ finance ministers. FILE PHOTO: European Commissioner Valdis Dombrovskis of Latvia speaks as he attends his hearing before the
BERLIN, Oct 22 () – Berlin’s city senate on Tuesday adopted bill which will freeze rents in the German capital for five years, public broadcaster rbb reported, citing senate sources. Berlin’s parliament still needs to formally adopt the bill. The new law is expected to come into effect in January 2020. Reporting by Riham Alkousaa
MANILA () – Philippine President Rodrigo Duterte was forced to cut short his attendance of the enthronement of Japan’s emperor on Tuesday, due to what his office said was “unbearable pain” in his lower back after a motorcycle mishap last week. Philippines President Rodrigo Duterte arrives to attend the enthronement ceremony of Japan’s Emperor Naruhito
STRASBOURG () – European Commission President Jean-Claude Juncker said on Tuesday that Brexit has been a “waste of time and energy”, and it has irked him that he could not have spent more of his five-year mandate on making the bloc serve its citizens better. European Commission President Jean-Claude Juncker speaks during a debate on
DUBAI, Oct 22 () – Saudi Arabia has hired banks, including JPMorgan and Standard Chartered, to manage a $2.5 billion issuance of sukuk, or Islamic bonds, a document by one of the banks leading the deal showed. The deal would be the kingdom’s first international debt transaction since attacks on its oil facilities last month
* Q3 funds at 112.8 bln stg vs 109.3 bln at end-June * Net inflows of 2.1 bln stg; pensions get 1.5 bln * Shares up 0.9% (Recasts, adds detail from statement, background, CEO quote, share reaction, analyst reaction) By Simon Jessop LONDON, Oct 22 () – British wealth manager St. James’s Place said funds
FILE PHOTO: Traders work at Frankfurt’s stock exchange in Frankfurt, Germany, October 17, 2019. /Ralph Orlowski() – European shares inched lower on Tuesday as investors sifted through a mixed bag of corporate earnings and eyed latest developments on U.S.-China trade talks and Britain’s progress towards some form of orderly departure from the European Union. Germany’s
SHANGHAI, Oct 22 () – China stocks recouped earlier losses to end higher on Tuesday, bolstered by tech firms as investors cheered their solid earnings as Beijing seeks to support the sector amid a bruising trade war. ** The blue-chip CSI300 index rose 0.4%, to 3,895.88, while the Shanghai Composite Index added 0.5% to 2,954.38.
BEIJING/SHANGHAI, Oct 22 () – Chinese police are investigating financial technology firm 51 Credit Card Inc for allegedly hiring debt collectors that used intimidation and harassment, part of a broader crackdown on the peer-to-peer lending (P2P) sector. Police said they had received an abnormally large number of complaints about Hangzhou-based 51 Credit Card, which started
(Updates to close) Oct 22 () – Australian shares advanced on Tuesday on signs that Washington and Beijing had made some headway in resolving a protracted trade row, while miners also benefited from a strong tailwind of higher commodity prices. The S&P/ASX 200 index tacked on 0.3%, or 19.70 points, to 6,672.20, having ended flat
TORONTO () – The Canadian dollar held near a three-month high on Tuesday as the market took in stride the prospect of a re-elected Liberal government, although some investors worried about the Liberals’ need to rely on a left-leaning opposition party for support. FILE PHOTO: The Canadian five and 10 dollar bills, made of polymer,
