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Merkel says expects Lagarde to push for IMF role in Greek rescue

Merkel says expects Lagarde to push for IMF role in Greek rescue

BERLIN: German Chancellor Angela Merkel said on Sunday that she expected the IMF to participate in a new rescue package for Greece, saying the Washington-based institution’s chief Christine Lagarde had promised to lobby for this with the IMF board. “The IMF took part in the negotiations. It supports (the Greece deal),” Merkel told German public […]

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Investors to look at Fed, earnings with China filter

Investors to look at Fed, earnings with China filter

NEW YORK: Investors will comb through Wednesday’s minutes of the most recent Federal Reserve meeting for indications on how the U.S. central bank will react to the recent yuan devaluation and the further decline in oil prices. The recent outperformance of bank stocks and underperformance of utilities, both on expectations of higher Treasury yields, support […]

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Dutch parliament recalled to debate new Greece bailout

Dutch parliament recalled to debate new Greece bailout

AMSTERDAM: Dutch lawmakers have been recalled from their summer break to vote on the latest emergency funding package for Greece, parliament said on Sunday. Euro zone finance ministers agreed on Friday to lend Greece up to 86 billion euros (US$96 billion) after Greek lawmakers accepted their stiff conditions Assuming approval by Euro zone parliaments, 13 […]

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China yuan to move both ways, more ‘adjustments’ unlikely

China yuan to move both ways, more ‘adjustments’ unlikely

August 16, 2015 SHANGHAI: China’s move to weaken the yuan last week could head off further similar “adjustments”, and the yuan is likely to move in both directions as the economy stabilizes, Ma Jun, chief economist at the central bank said on Sunday. The People’s Bank of China (PBOC) shocked global markets by devaluing the […]

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China Minsheng Investment aims to double planned SEA investment

China Minsheng Investment aims to double planned SEA investment

SINGAPORE: China Minsheng Investment Corp (CMI), the country’s biggest private investment group, and partners aim to double planned investment in Southeast Asian infrastructure to $10 billion, a senior executive said on Friday. Beijing-based CMI said in March it and 10 partners would invest $5 billion to develop an industrial park in Indonesia. It is now […]

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Ringgit volatility tests foreign bond investors’ faith in M’sia

Ringgit volatility tests foreign bond investors’ faith in M’sia

They sold some assets in July as the ringgit’s losses mounted, cutting holdings to 206.8 billion ringgit ($50.7 billion), the lowest since August 2012. SINGAPORE: Foreign investors in Malaysia’s bond markets have stayed put through months of economic and political uncertainty but a sudden spurt in currency volatility appears to be testing that allegiance. Foreign […]

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China yuan to move both ways, more 'adjustments' unlikely: Central bank economist

China yuan to move both ways, more 'adjustments' unlikely: Central bank economist

BEIJING: China’s move to weaken the yuan last week could head off further similar “adjustments”, and the yuan is likely to move in both directions as the economy stabilizes, Ma Jun, chief economist at the central bank said on Sunday. The People’s Bank of China (PBOC) shocked global markets by devaluing the yuan by nearly […]

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Germany's Mann + Hummel buys US peer for US$1.3-1.4 billion: Source

Germany's Mann + Hummel buys US peer for US$1.3-1.4 billion: Source

FRANKFURT: German car parts maker Mann + Hummel is buying U.S. firm Affinia’s auto filter unit for US$1.3-1.4 billion, a person familiar with the transaction said on Sunday. The deal is the third within a year in which a U.S. auto supplier is bought by a German peer, following ZF’s takeover of TRW and Mahle’s […]

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The falling yuan, tax inversions and college debt

The falling yuan, tax inversions and college debt

THIS week’s print edition has an array of economics articles that may be of interest. The following have particularly caught our eye: The devaluation of the yuan: The battle of midpoint (Finance) Tax inversions: All my bags are packed (Business) College debt: More is less (United States) And don’t forget to take a look at this week’s Free Exchange column, which […]

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Argentine’s Scioli defends central bank currency controls

Argentine’s Scioli defends central bank currency controls

August 16, 2015 BUENOS AIRES: Argentine ruling party presidential candidate Daniel Scioli defended the central bank’s control of the exchange rate on Saturday, saying it was necessary to avoid foreign exchange volatility. Scioli’s comments came two days after his main rival said he would allow the peso to float freely and would welcome the resignation […]

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