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(MENAFN - AFP) Business confidence in Germany appears to be stabilising after long months of decline, with the Ifo business climate index rising in November for the first time since April, data showed on Monday.

The closely watched barometer rose to 104.7 points in November from 103.2 points in October, the Ifo think-tank said in a statement.

"The downturn in the German ...

 
(MENAFN - AFP) Russia is losing around $40 billion (32 billion euros) per year due to Western sanctions over the Ukraine conflict, its finance minister said Monday although President Vladimir Putin dismissed the economic damage as "not fatal".

"We are losing around $40 billion per year due to geopolitical sanctions," Finance Minister Anton Siluanov said in a speech at an ...

 
(MENAFN - AFP) Lithuania said on Monday that Russia was refusing entry to both commercial and private cars and trucks from its territory amid heightened tension over the crisis in Ukraine.

Lithuanian "cars and trucks are virtually not allowed into Russia," Interior Minister Saulius Skvernelis told reporters after a government meeting.

The national road carriers' association ...

 
(MENAFN - AFP) Shares in Intesa Sanpaolo leapt Monday following a report the Italian bank is mulling a bid for Coutts, the British private bank that counts Queen Elizabeth II among its clients.

In mid-morning trading on the Milan bourse, shares in the bank were up 1.69 percent as dealers digested remarks by its chief executive, Carlo Messina indicating that he was keen to ...

 
(MENAFN - AFP) Spain's debt-laden construction group FCC said Monday it is in talks with Mexican telecoms magnate Carlos Slim to take a stake in its 1 billion-euro capital hike, after negotiations with billionaire investor George Soros failed.

FCC's biggest shareholder Esther Koplowitz said in a statement that "exclusive negotiations with the Soros fund have ended without ...

 
(MENAFN - AFP) Business confidence in Germany appears to be stabilising after long months of decline, with the Ifo business climate index rising in November for the first time in seven months, data showed on Monday.

In an encouraging sign for Europe's biggest economy, and therefore the eurozone as a whole, the closely watched barometer beat expectations and rose to 104.7 ...

 
(MENAFN - AFP) Russia is set to lose around $40 billion per year due to Western sanctions over Ukraine, Finance Minister Anton Siluanov said Monday.

"We are losing around $40 billion per year due to geopolitical sanctions and we are losing some $90 to $100 billion per year due to oil prices falling 30 percent," Siluanov said in a speech at an economic forum in Moscow, quoted ...

 
(MENAFN - AFP) When a village in the conflict-torn hills of eastern Myanmar was asked to pay authorities more than $10,000 to plug into an electricity grid, families put themselves in debt to find the cash.

Ten months later children there are still squinting over their homework by candlelight and dinners are cooked on open fires as the work to connect their homes to power ...

 
(MENAFN - AFP) Asian markets rallied Monday after China's surprise move last week to cut interest rates for the first time in more than two years as its leaders try to strengthen growth.

The euro struggled following a sell-off Friday in response to comments from the head of the European Central Bank hinting at further stimulus measures to fight off deflation.

Shanghai ...

 
(MENAFN - AFP) BHP Billiton on Monday outlined plans to cut costs further as the world's biggest miner battles falling commodity prices, pointing to its planned demerger as helping to drive productivity gains.

The Anglo-Australian resources group is aiming to simplify and strengthen its business, and said it was looking to save $US4 billion a year in running costs -- US$500 ...

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