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(MENAFN - AFP) Even as the fighting rages in east Ukraine, the unrecognised Donetsk People's Republic says it's pushing on with ambitious plans to roll out a fully independent financial system within two months.

The self-declared government of the rebel republic has set up a People's Bank to handle the improbable task - a sort of nascent rebel central bank for a shrinking ...

 
(MENAFN - AFP) Europe's stock markets dipped on Wednesday in cautious deals before crucial US economic data and the outcome of the latest Federal Reserve policy meeting.

Investors also digested news of more Western sanctions on Russia over the Ukraine crisis, with the euro at eight-month lows against the dollar owing to concerns about the impact on the eurozone economy.

In ...

 
(MENAFN - AFP) Italian car maker Fiat, which is merging with US group Chrysler, said net profit more than halved in the second quarter, undermined by a higher tax charge in the United States.

Net profit in the first three months of 2014 was 197 million euros ($264 million), down 54.7 percent from the equivalent figure last year.

Operating profit fell by 10.4 percent ...

 
(MENAFN - AFP) French car maker Peugeot Citroen showed sharp acceleration on the road to recovery on Wednesday, boosted by a new tie-up with Chinese group Dongfeng.

The group, which was in severe financial difficulties in the last two years, launched a strategic plan called "Back in the race", in April, and on Wednesday announced a "very strong" turnaround.

The group ...

 
(MENAFN - AFP) Ukraine's economy, already in deep recession, shrank even further in the second quarter as the country remained mired in crisis, official figures showed Wednesday.

Gross domestic product contracted 2.3 percent after shrinking 2.0 percent in the first quarter, according to seasonally adjusted data.

Year-on-year, it plunged 4.7 percent.

Ukraine has ...

 
(MENAFN - AFP) Britain's scandal-hit lender Barclays posted surging first-half net profits on Wednesday, sending its share price soaring, as it pushed ahead with a restructuring that will shrink its investment bank division.

Earnings after tax surged 68 percent to £1.13 billion ($1.9 billion, 1.4 billion euros) in the six months to June.

That was up from £671 million ...

 
(MENAFN - AFP) Airbus Group showed stellar performance in the first half of the year, raising net profits by half thanks to strong sales of airliners, it reported on Wednesday.

The results coupled with a confirmed outlook for performance, pushed Airbus shares up sharply.

The group said that net profit jumped by 50 percent from the equivalent figure last year to 1.4 ...

 
(MENAFN - AFP) Japanese videogame giant Nintendo on Wednesday posted a $97 million quarterly net loss, with higher costs tied to sales of its Wii U console digging into its bottom line while sales weakened.

The shortfall comes after the firm logged its third straight year of operating losses, underscoring the challenges faced by the one-time industry titan.

The maker ...

 
(MENAFN - AFP) French oil group Total reported Wednesday it suffered a profit and production setback in the second quarter, but said it expected output to rebound despite uncertainty over the impact of sanctions on Russia.

The key quarterly net profit on a current cost basis, excluding the effects of changes in inventory values, fell by 12.0 percent to $3.15 billion (2.3 ...

 
(MENAFN - AFP) Britain's scandal-hit Barclays bank posted a 68-percent jump in first-half net profits on Wednesday, as it pushed ahead with a major restructuring that will shrink its investment bank division.

Earnings after taxation surged to £1.13 billion ($1.9 billion, 1.4 billion euros) in the six months to June, from £671 million a year earlier, Barclays said in a results ...

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