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(MENAFN - AFP) The ruble hit a new record low on Friday, falling to more than 43 rubles to the dollar, despite defensive action by the central bank which raised interest rates a short time earlier.

The ruble was trading at 43.03 to the dollar at around 1330 GMT, after strengthening slightly on Thursday following central bank intervention and briefly on Friday after the central ...

 
(MENAFN - AFP) European stocks rallied Friday, as investors welcomed the Bank of Japan's stimulus boost and upbeat earnings, but gold hit a four-year low on strength of the dollar and improving risk sentiment.

Nearing midday, London's FTSE 100 index jumped 1.12 percent to 6,535.55 points, while Frankfurt's DAX 30 gained 1.73 percent to 9,272.31 points and the Paris CAC 40 ...

 
(MENAFN - AFP) The Cypriot supreme court ruled as unconstitutional Friday four bills on bank foreclosures whose passage by parliament prompted international lenders to halt payments on the country's 10-billion-euro ($12.7-billion) bailout.

The decision should open the way for Nicosia to receive the next tranche of 436 million euros, which was blocked last month.

EU ...

 
(MENAFN - AFP) Boosting growth, cutting near-record jobless queues and making member states stick to tough budget rules are just some of the tasks the new European Commission must quickly get to grips with.

The Commission, led by former Luxembourg prime minister Jean-Claude Juncker, formally takes office Saturday, with fixing the European Union's stalling economy the number ...

 
(MENAFN - AFP) US energy giant ExxonMobil reported slightly higher third-quarter earnings on Friday as better results in refining and chemicals offset lower profits from exploration and production.

The largest US publicly-traded oil company, Exxon reported net income of $8.1 billion, up 2.5 percent from the same period a year ago.

Earnings from the upstream division, ...

 
(MENAFN - AFP) Eurozone inflation edged up to 0.4 percent from multi-year lows while unemployment was little changed, official data showed Friday, providing only limited reassurance that a modest economic recovery remains on track.

Analysts said the figures were far from encouraging, with the European Central Bank likely to come under additional pressure from anxious governments ...

 
(MENAFN - AFP) French bank BNP Paribas surprised investors with a sharp rise in third-quarter net profit on Friday, sending its shares up more than 2.0 percent.

The bank has just been cleared as financially solid by eurozone-wide stress tests, but its nine-month performance is still suffering from the cost of a record US fine for breaking sanctions.

Net profit for the ...

 
(MENAFN - AFP) The European Union will "fully play its role" to implement the gas deal signed by Ukraine and Russia on Thursday, the French and German leaders said in a joint statement.

Francois Hollande and Angela Merkel said they had spoken with Russian President Vladimir Putin and his Ukrainian counterpart Petro Poroshenko earlier in the evening, and all four "have welcomed ...

 
(MENAFN - AFP) Russia's central bank on Friday said it would raise its interest rates to 9.5 percent from 8 percent, as Western sanctions and falling oil prices sent the ruble plunging.

"The board of directors of the Bank of Russia on October 31 took a decision to raise the key interest rate to 9.50 percent," the central bank said in a statement. The new rate will take effect ...

 
(MENAFN - AFP) European stocks rallied at the start of trading on Friday, as investors welcomed the Bank of Japan's surprise stimulus boost, dealers said.

In initial deals, London's benchmark FTSE 100 index gained 1.24 percent to 6,543.59 points, Frankfurt's DAX 30 soared 1.85 percent to 9,283.40 points and in Paris the CAC 40 jumped 1.74 percent to 4,213.47.

The BoJ ...

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