News Wire

South Africa's retail sales jump in May ahead of expected rate cuts

17/07 South Africa's retail sales rose more than expected in May as sales of household goods, furniture and appliances expanded quickly, a hint that pressure on consumers was easing ahead of an expected lending rate cut that may further support spending.  Full story

Soybeans fall to 9-day low as cooler weather expected

03h23 U.S. soybean futures fell to a nine-day low on Thursday as forecasts for cooler weather across a major growing region calmed fears that hot, dry conditions could hurt yields.. . .  Full story

Stocks wobble, bond yields fall on earnings woes, trade worries

03h20 Asian shares wobbled in early Thursday trading as Wall Street stocks dropped on early signs that the U.S.-China trade war could hurt corporate earnings, helping to underpin solid demand for safe-haven U.S. Treasuries.. . .  Full story

Bank of Korea unexpectedly cuts key interest rate

03h07 South Korea's central bank unexpectedly cut its policy interest rate for the first time in three years on Thursday, as uncertainties from a trade dispute with Japan add to growing concerns over the economy's. . .  Full story

COLUMN-Nickel jumps but fear of Indonesia export ban is unfounded: Andy Home

03h00 Nickel is enlivening an otherwise torpid summer for the base metals complex.. . .  Full story

Crude futures fall after strong build in U.S. oil products stocks

02h58 Oil prices fell on Thursday, extending declines into a fourth day, after official data showed U.S. stockpiles of products like gasoline rose sharply last week, suggesting weak demand during the peak driving season.. . .  Full story

Australian property firm LendLease lands $15 bln deal with Google

02h55 Australian construction firm LendLease Group on Thursday said it has secured a contract from Alphabet Inc's Google to jointly undertake development of properties worth $15 billion in the U.S. state of California.. . .  Full story

Japan may take S.Korea wartime labour dispute to International Court of Justice-NHK

02h53 Japan is considering taking a dispute with South Korea over its compensation of wartime forced labourers to the International Court of Justice as the deadline for seeking third-country arbitration passes on Thursday, public broadcaster NHK. . .  Full story

Sliding Japan exports, manufacturing gloom heighten economic risks

02h44 Japan's exports fell for a seventh straight month in June, pressured by Sino-U.S. trade frictions, slowing China growth and rising trade protectionism, as manufacturers' business confidence hit a three-year low.. . .  Full story

Dollar held back by lower U.S. yields, rebound in pound

02h36 The dollar nursed light losses on Thursday, weighed down by lower U.S. yields and a rebound in the pound from 27-month lows.. . .  Full story

"Expect craziness" as China readies debut of Nasdaq-style board

02h17 In a packed Shanghai classroom on a hot afternoon, nearly a hundred "mom-and-pop" investors were honing their trading skills ahead of the first opening bell for China's Nasdaq-style tech board.. . .  Full story

U.S. officials to brief diplomats on maritime security initiative for Gulf

02h11 U.S. officials will speak to members of the Washington diplomatic corps on Friday about a new initiative to promote freedom of navigation and maritime security around the Strait of Hormuz, the State Department said on. . .  Full story

ECB to cut rates in Sept, QE 2.0 still on the cards

02h05 The European Central Bank will cut its deposit rate in September after signalling a bias to do so this month, according to economists in a Reuters poll who do not expect a turnaround in. . .  Full story

Japan urges G7 to think beyond existing rules in dealing with Libra

02h03 Japanese Finance Minister Taro Aso on Wednesday urged his G7 counterparts to make a comprehensive assessment of Facebook Inc's Libra digital currency for any fresh challenges that could be overlooked by existing regulations.. . .  Full story

Netflix shares plunge as global growth falls short, U.S. customers shrink

01h57 Netflix Inc said on Wednesday it lost U.S. streaming customers for the first time in eight years and missed targets for new subscribers overseas, an announcement that jarred investors ahead of looming competition.. . .  Full story

U.S. plans different approach in leading G7 in 2020 -W.H. official

01h30 The Trump administration plans to adopt shorter communiques and generally revamp how the Group of Seven rich nations does its work when the United States leads the body in 2020, a White House adviser. . .  Full story

Woodside Petroleum second-quarter revenue falls 32% on Pluto roadblock

01h24 Australia's Woodside Petroleum Ltd reported a 32% drop in second-quarter revenue on Thursday, the first decline in six quarters, as it was hit by an extension of planned maintenance at its Pluto liquefied natural gas. . .  Full story

Australia's South32 posts 69% rise in annual coking coal production

01h22 Australia's South32 Ltd on Thursday reported a 69% jump in full-year coking coal production, beating analyst estimates, as the diversified miner ramped up production at its Illawarra project.. . .  Full story

Japan manufacturers' mood hits three-year low - Reuters Tankan

01h00 Japanese manufacturers' business confidence hit a three-year low in July, highlighting the fragility of the export-led economy as external demand slackens in the face of cooling global growth and trade friction, the Reuters Tankan showed.. . .  Full story

Japanese official says negotiators working hard on US-Japan trade deal

00h48 U.S. and Japanese officials are working hard to reach agreement on a bilateral trade agreement, a senior Japanese official told Reuters on Wednesday, adding he was looking forward to news on the deal in. . .  Full story

Cloud growth fuels IBM profit beat

00h34 International Business Machines Corp beat analysts' estimates for second-quarter profit on Wednesday, propped up by recurring growth in its high-margin cloud business.. . .  Full story

Australia shares poised to open lower, New Zealand up

00h11 Australian shares are expected to fall at open on Thursday in line with overnight losses on Wall Street as weak results from railroad operator CSX Corp. . .  Full story

EBay beats estimates as more shoppers flock to site, shares rise

00h10 EBay Inc beat Wall Street estimates for quarterly revenue and profit on Wednesday, as efforts to make its platforms easier to navigate attracted more customers, coupled with growth in its advertising and payments businesses.. . .  Full story

G7 finance leaders voice scepticism over Libra -Japan finmin

17/07 Japan's Finance Minister Taro Aso said on Wednesday that various voices of scepticism over Facebook Inc's Libra digital currency surfaced at a gathering of Group of Seven (G7) finance leaders.. . .  Full story

Bank of America trims net interest income guidance

17/07 Bank of America Corp lowered its annual net interest income guidance on Wednesday to reflect a weakened interest rate environment as the second-largest U.S. lender reported higher-than expected earnings fueled by strong consumer trends.. . .  Full story

Wheat, soybeans end slightly lower after mid-day rise

17/07 Chicago wheat and soybean futures settled slightly lower on Wednesday as forecasts for cooler weather lifted expectations for better crop conditions after this week's hot spell, though corn edged higher.. . .  Full story

Boeing to make $50 mln in payments to 737 MAX crash victims' families

17/07 Boeing Co said on Wednesday it will dedicate half of a $100 million fund it created after two crashes of its 737 MAX planes to provide payments to families of those killed, with veteran. . .  Full story

Cloud growth fuels IBM profit beat, shares rise

17/07 International Business Machines Corp beat analysts' estimates for second-quarter profit on Wednesday, propped up by recurring growth in its high-margin cloud computing business, sending its shares up as much as 4% in extended trading.. . .  Full story

Netflix shares tumble as it misses global subscriber forecasts

17/07 Netflix Inc added fewer quarterly subscribers than Wall Street expected and its U.S. customer base shrank as its programming failed to draw new viewers, jarring investors ahead of looming competition.. . .  Full story

Turkish parliament passes law on central bank legal reserves -state news agency

17/07 Turkey's parliament on Wednesday ratified an economy law including amendments to allocation of central bank legal reserves and debt restructurings, state-owned Anadolu news agency said.. . .  Full story

Latam's 2020 growth may turn negative due to U.S.-China trade war -IADB

17/07 Latin American and Caribbean economies could shrink in 2020 on average if U.S.-China trade tensions are not resolved, because the world's two largest economies are major trading partners for the region, a senior economist said. . .  Full story

Climate activists disrupt London concrete plant

17/07 Climate activists from Extinction Rebellion on Tuesday disrupted London Concrete, the British capital's biggest supplier of ready-mixed concrete.. . .  Full story

Latam FX firms as dollar softens, stocks drop on trade jitters

17/07 A soft dollar aided gains in Latin American currencies on Wednesday, although stock markets in the region came under pressure from an escalation in trade tensions between the United States and China.. . .  Full story

U.S. lawmakers challenge Facebook over Libra cryptocurrency plan

17/07 U.S. lawmakers bashed Facebook on Wednesday over its planned cryptocurrency, saying the company had not shown it could be trusted to safeguard the world financial system and consumers' data.. . .  Full story

G7 finance chiefs pour cold water on Facebook's digital coin plans

17/07 Group of Seven finance chiefs cast a cloud over prospects for Facebook's Libra digital coin on Wednesday, insisting tough regulatory problems would have to be worked out first.. . .  Full story

Wall St falls as CSX results signal damage from trade tensions

17/07 U.S. stock indexes fell on Wednesday as weak results from CSX Corp stoked concerns that the protracted trade war between the United States and China could hurt corporate earnings.. . .  Full story

Fed: Sunny outlook for U.S. despite shade thrown by trade

17/07 The U.S. economy grew at a "modest" rate in recent weeks, with consumers continuing to spend and a "generally positive" outlook overall even in the face of disruptions caused by U.S. trade policy, the. . .  Full story

Trade, earnings worry drag on stocks; U.S. Treasury yields fall

17/07 A gauge of global equities retreated for a second straight session and U.S. Treasury yields fell as simmering trade concerns gained steam and the pace of the U.S. corporate earnings season picked up.. . .  Full story

Venezuela's debts to China, Russia would be restructured through Paris Club -Guaido advisor

17/07 Loans to Venezuela from President Nicolas Maduro's allies Russia and China would be renegotiated though the Paris Club if Maduro leaves power, an advisor to the opposition said on Wednesday, responding to concerns about favorable. . .  Full story

'Artificial snow' could save stricken Antarctic ice sheet -study

17/07 Governments could stop the West Antarctic Ice Sheet from sliding into the ocean and submerging coastal cities by launching a last-ditch engineering project to blanket its surface with "artificial snow", according to a study released. . .  Full story

U.S. hog futures climb on renewed hopes for pork exports to China

17/07 Chicago Mercantile Exchange lean hog futures soared by the daily limit and approached a one-month high on Wednesday on renewed hopes that China will increase pork imports to compensate for pigs killed in a widespread. . .  Full story

Dollar slips with lower U.S. yields in tight ranges

17/07 The dollar softened against most major currencies on Wednesday in step with lower U.S. bond yields and expectations the Federal Reserve would lower interest rates, reversing some of the prior day's gains tied to stronger-than-forecast. . .  Full story

Oil prices fall more than 1% after U.S. fuel inventories build

17/07 Oil futures fell more than 1% on Wednesday, extending a more than 3% drop in prices the previous session, after U.S. government data showed large builds in refined product stockpiles.. . .  Full story

Yields fall on U.S.-China trade concerns, weak housing

17/07 U.S. Treasury yields fell on Wednesday as concerns about the U.S.-China trade war boosted demand for safe haven debt and after data showed weakness in the U.S. housing market. U.S. President. . .  Full story

U.S. housing market stuck in a rut even as mortgage rates fall

17/07 U.S. homebuilding fell for a second straight month in June and permits dropped to a two-year low, suggesting the housing market continued to struggle despite declining mortgage rates.. . .  Full story

South American bloc eyes fast-track for EU trade deal

17/07 Leaders from countries in South America's Mercosur trade bloc met on Wednesday in Argentina, with plans as to how to push forward a recently struck free-trade deal with the European Union at the center of. . .  Full story

Oil service firms eye new survival tactics amid weak U.S. market

17/07 Packers Plus Energy Services, a company built on the North American shale oil boom, is turning to the Middle East to weather a new round of spending cuts by producers amid warnings of a. . .  Full story

EDF will not communicate Flamanville 3 reactor cost and timeline for now - nuclear chief

17/07 French utility EDF will need several months to analyse and work out how to fix faulty weldings at its under construction Flamanville 3 nuclear reactor before communicating costs and a possible start-up date.. . .  Full story

Gold rises 1% after weak U.S. data boost rate cut bets

17/07 Gold prices rose more than 1% on Wednesday as weaker-than-expected U.S. data increased prospects for an interest rate cut by the U.S. Federal Reserve, dragging the dollar lower.. . .  Full story

Von der Leyen cracks EU parliament nut, national leaders will prove tougher

17/07 Ursula von der Leyen had to dangle a range of promises on migration, taxes, climate change and the rule of law to secure even a wafer-thin margin of support in the European Parliament. . .  Full story

IMF sees dangers from trade tensions, overvalued dollar

17/07 The International Monetary Fund said on Wednesday the U.S. dollar was overvalued by 6% to 12%, based on near-term economic fundamentals, while the euro, the Japanese yen and China's yuan were seen as broadly. . .  Full story

EssilorLuxottica seeks majority stake in Dutch eyewear firm GrandVision

17/07 Dutch optical retailer GrandVision NV said on Wednesday it was approached by EssilorLuxottica SA and HAL Holding NV for a possible transfer of HAL's majority stake in the company to the French eyewear group.. . .  Full story

U.S. Senate approves four long-delayed tax treaties

17/07 The U.S. Senate on Wednesday approved long-delayed updates of tax treaties with Switzerland, Japan and Luxembourg, a day after ratifying a similar update of a treaty with Spain in a victory for businesses.. . .  Full story

Ryanair's British pilot union to vote on possible August strike

17/07 Ryanair's British pilot union is to ballot members on possible strike action in coming weeks in a dispute over working conditions, the British Airline Pilots Association (BALPA) announced on Wednesday.. . .  Full story

Another $860 mln recovered for Madoff customers in Kingate settlement -trustee

17/07 The court-appointed trustee liquidating Bernard Madoff's firm on Wednesday said another $860 million may soon be returned to the swindler's customers, under a settlement with offshore funds that funneled money to Madoff for 14 years.. . .  Full story

Home furnishing chain of Philippines' richest man files for up to $404 mln IPO

17/07 Philippines' AllHome Corp, owned by the country's richest man, said late on Wednesday it plans to raise up to $404 million in the country's largest initial public offering (IPO) this year, as the bourse. . .  Full story

Downbeat Swedish earnings, oil slide hurt European shares

17/07 European stock markets lost ground on Wednesday after three straight days of gains, with Swedish share prices hit by a slew of poor quarterly results and oil majors across the region reeling from this. . .  Full story

Turkey's restructuring stalls as banks, government wrestle with bad debt

17/07 Efforts to clean up Turkey's bad debt have stalled after bankers rejected or put on hold initial plans, according to people familiar with the matter, frustrating the country‚Äôs attempts to leave behind the worst. . .  Full story

New man on the board to clean up Deutsche Bank's act

17/07 The Qatari-backed lawyer tasked with trying to draw a line under Deutsche Bank's regulatory scandals has risen rapidly at the German bank, jumping to the management board after three years as a "sparring partner" on. . .  Full story

Takeda kicks off sale of Western European drugs - sources

17/07 Japan's Takeda Pharmaceutical Co has reached out to prospective bidders for a portfolio of drugs for sale in western Europe as it seeks to trim its debt following the $59 billion purchase of Shire, sources. . .  Full story

Consensus among G7 ministers to tackle Facebook's Libra - French chair

17/07 G7 ministers meeting in France on Wednesday agreed on the need to confront the emergence of digital currencies following Facebook's plans to launch its Libra digital coin, a French G7 presidency source said on Wednesday.. . .  Full story

Italian banks ready to avert another Carige funding failure - sources

17/07 Italian banks are set to fund the bulk of a 900 million euro ($1.01 billion) rescue plan for troubled regional lender Carige in a last-ditch attempt to avert liquidation, three sources close to. . .  Full story

Copper tumbles from two-week peak as Trump renews China tariff threat

17/07 Copper retreated from a two-week high on Wednesday after U.S. President Donald Trump threatened to impose further tariffs on China, a move which could dent demand for metals.. . .  Full story

Ross says U.S., China must still address 'big ticket' items

17/07 The United States and China still have to work through major issues to reach any trade agreement, including intellectual property theft, structural reforms and subsidies, U.S. Commerce Secretary Wilbur Ross said on Thursday.. . .  Full story

World's policymakers ready for action to control Libra: Italy's Tria

17/07 The world's top financial policymakers gathering in France on Wednesday are worried about Facebook's plans to launch a digital currency and have decided to act to keep this initiative in check, Italy's finance minister said. . .  Full story

Russia's Transneft, oil firms clash over pipeline system clean-up

17/07 Major Russian oil companies have challenged a plan by Transneft that aims to resolve a problem of tainted oil stuck in Russia's pipeline and storage system by diluting it with clean crude, four company. . .  Full story

IMF says regulators must address possible risks from Facebook's Libra

17/07 Facebook Inc's planned cryptocurrency, Libra, could help boost financial inclusion, but also raises concerns about consumer protection, data privacy, and potential "backdoor dollarization," the IMF's chief economist said on Wednesday.. . .  Full story

Oil majors, poor earnings hammer FTSE 100

17/07 The FTSE 100 index tumbled on Wednesday amid sharp falls in oil majors as investors priced in an overnight slide in crude to one-week lows, while downbeat trading updates knocked chemicals group Johnson Matthey. . .  Full story

-Blue Apron beefs up menu with Beyond Meat, shares surge 35%

17/07 Blue Apron Holdings Inc's beleaguered stock closed 35% higher on Tuesday after the meal-kit subscription service said it would add Beyond Meat Inc's plant-based burgers to its menu, betting on a growing market for premium. . .  Full story

One direction: Brexit-hit pound facing gravity of parity

17/07 Currency traders who were wary of positioning outright for a hard Brexit outcome may finally be throwing in the towel: heavy selling has hit sterling this month and metrics such as derivatives and positioning. . .  Full story

Abbott hits record high as diabetes device fuels profit beat

17/07 Abbott Laboratories beat analysts' estimates for quarterly profit and lifted its full-year earnings forecast on Wednesday, boosted by a near 64% jump in sales of its blood sugar monitoring device.. . .  Full story

U.S. crude oil stockpiles drop amid Barry, fuel posts large builds - EIA

17/07 U.S. crude oil stockpiles fell more than expected last week, while gasoline and distillate inventories rose sharply, the Energy Information Administration said on Wednesday, due to the impact of the first major hurricane to hit. . .  Full story

Euro zone bond yields renew slide, Italian yields at lowest since 2016

17/07 Euro area government bond yields tumbled on Wednesday after U.S. Federal Reserve officials reinforced expectations they would cut interest rates this month and suggested they are debating how deep that cut should be.. . .  Full story

Woodford biotech stakes first off block in asset sale -source

17/07 British fund manager Neil Woodford is looking to kick off the sale of his unlisted biotech investments at the end of July, but faces months of negotiations to offload the portfolio, a source familiar. . .  Full story

Bulgaria steps up measures to prevent spread of African swine fever

17/07 Bulgaria has stepped up measures to prevent the spread of deadly African swine fever and protect the country's 600-million lev ($344 million) pig-breeding industry, the agriculture minister said on Wednesday.. . .  Full story

Sterling touches two-year low as investors hedge rise in Brexit risk

17/07 Sterling fell below $1.24 on Wednesday, levels not plumbed for more than two years, as investors continued to price the growing risk of Britain's crashing out of the European Union without a transition agreement in. . .  Full story

UK PM May says compromise deal remains best way to prevent Iran getting nuclear weapon

17/07 A compromise deal remains the best way to prevent Iran acquiring a nuclear weapon, British Prime Minister Theresa May said on Wednesday.. . .  Full story

Investors offload emerging-market bonds with negative yields

17/07 Global investors plan to ditch emerging-market bonds whose yields have been dragged into negative territory by the renewed commitment of the world's major central banks to continue monetary easing if necessary.. . .  Full story

C$ strengthens as domestic data points to rebounding growth

17/07 The Canadian dollar gained against the greenback on Wednesday, paring some of the previous day's decline, as oil prices rose and domestic data supported the view that the economy is recovering after a slow. . .  Full story

UK PM May says Brexit must be delivered in a way that brings country back together

17/07 Whatever path Britain takes to leaving the European Union must be sustainable for the long term, outgoing Prime Minister Theresa May said on Wednesday, urging compromise over increasing polarisation.. . .  Full story

India's Wipro tops profit forecast on demand from key clients

17/07 Indian software services exporter Wipro Ltd reported a 13% rise in first-quarter profit thanks to robust demand from financial clients and said its main information technology business could show modest growth in the current. . .  Full story

Huawei says Italy's new 5G powers discriminate against it

17/07 Chinese telecoms equipment group Huawei Technologies criticised the Italian government's newly beefed-up powers to intervene in the development of fifth-generation (5G) telecom services, saying they discriminated against the company.. . .  Full story

Egypt says economy on right track after 5.6% growth in 2018/19

17/07 Egypt's economy grew 5.6% in the 2018/19 fiscal year and is "on the right track" as it completes IMF-backed reforms, Prime Minister Mostafa Madbouly said on Wednesday.. . .  Full story

TSX propped up by gains in materials stocks

17/07 Canada's main stock index rose on Wednesday as shares of precious metal miners were boosted by higher gold prices.. . .  Full story

Long-delayed Finland nuclear reactor to start July 2020 - TVO

17/07 Finnish Teollisuuden Voima Oyj (TVO) said in a statement on Wednesday that the long-delayed Olkiluoto 3 nuclear plant would start generating electricity in July 2020.. . .  Full story

Mexican president to meet US congressional delegation, promote USMCA trade deal

17/07 Mexico's President Andres Manuel Lopez Obrador said on Tuesday he will tell a delegation of U.S. lawmakers visiting Mexico later this week that the USMCA trade deal is important for the region, and he. . .  Full story

Eni officials tried to tamper with witness in Nigeria case - prosecutor

17/07 Officials from Eni sought to convince a witness, a former Eni manager, to withdraw some statements he made during investigations into a Nigerian corruption case involving the Italian oil group, a court heard on Wednesday.. . .  Full story

Russia, under sanctions, looks for rouble offshore market -official

17/07 Russia aims to establish an offshore rouble market to boost its currency's global role and help offset the impact of Western sanctions, deputy finance minister Alexei Moiseev told Reuters.. . .  Full story

German finmin: Libra cryptocurrency must wait for regulatory clarity

17/07 Facebook cannot go ahead with its plans to launch its digital coin Libra until all regulatory issues are dealt with, German Finance Minister Olaf Scholz said on Wednesday as he met with counterparts from G7. . .  Full story

Japan to reject South Korea's request for meeting on export curbs - Kyodo

17/07 Japan will reject South Korea's request to hold another working-level meeting on Tokyo's recent tightening of export controls, Kyodo News reported on Wednesday, citing government sources.. . .  Full story

Weaker scrubber demand takes shine off Alfa Laval's results

17/07 Sweden's Alfa Laval reported a fall in quarterly orders on Wednesday on weaker-than-expected demand for ship exhaust cleaners and pumping systems, sending its shares sharply lower.. . .  Full story

Nickel jumps but fear of Indonesia export ban is unfounded: Andy Home

17/07 Nickel is enlivening an otherwise torpid summer for the base metals complex.. . .  Full story

Russia's Transneft signed off on alleged supplier of tainted oil: documents

17/07 A small oil transport firm accused of pumping toxic chemicals into Russia's crude pipeline network that then polluted oil exports to Europe received daily documents from Russian state pipeline monopoly Transneft giving its oil deliveries. . .  Full story

Lockmaker Assa Abloy wary on some markets as savings lift Q2 profit

17/07 Assa Abloy, the world's biggest lock maker, reported a 28% jump in quarterly profit as savings and price hikes offset higher raw material costs but said uncertainty had increased in some markets such as Brazil,. . .  Full story

U.S. housing starts fall; permits hit two-year low

17/07 U.S. homebuilding fell for a second straight month in June and permits dropped to a two-year low, suggesting the housing market continued to struggle despite lower mortgage rates.. . .  Full story

Polish refiner PKN's Q2 net profit seen down 31% y/y

17/07 Poland's biggest oil refiner PKN Orlen is expected to report a 31% drop year on year in second-quarter net profit due to an impairment. . .  Full story

Nine companies weighing bids for Vedanta's Zambian assets - minister

17/07 Zambia expects nine companies to submit bids for Konkola Copper Mines (KCM) within weeks, mines minister Richard Musukwa said on Wednesday, even as a court case with Mumbai-listed Vedanta over its ownership was underway.. . .  Full story

CVS enters home dialysis care with clinical trial of new system

17/07 CVS Health said on Wednesday it will start a clinical trial of its new home dialysis system this week, setting it up to compete directly with the two largest operators of U.S. dialysis centers, Fresenius. . .  Full story

Zambia expects bids for Konkola Copper Mines within weeks -minister

17/07 Zambia's Minister of Mines Richard Musukwa said on Wednesday nine companies would submit bids for Konkola Copper Mines - which is at the centre of an ownership dispute with Mumbai-listed Vedanta. . .  Full story

Sri Lanka stocks hit over 3-month high on local buying; rupee steady

17/07 Sri Lankan shares rose for the sixth straight session on Wednesday to hit a more than three-month closing high, as diversified and banking stocks gained, while the rupee ended steady. ** The benchmark stock index. . .  Full story

Seeking to avoid escalation, ships deploy unarmed guards to navigate Gulf

17/07 Shipping companies are hiring unarmed security guards for voyages through the Middle East Gulf as an extra safeguard after a wave of attacks in the region, security companies involved said.. . .  Full story

Egypt says its economy on right track after 5.6% growth in 2018/19

17/07 Egypt's economy grew 5.6% in the 2018/19 fiscal year and is "on the right track" as it completes IMF-backed reforms, Prime Minister Mustafa Madbouli said on Wednesday.. . .  Full story

Activist hedge fund Elliott takes stake in UK's Saga

17/07 Activist investor Elliott has disclosed a stake in Saga Plc less than a month after the specialist tourism and insurance firm warned discounting was hurting its tours business.. . .  Full story

South African subsidiary of carmaker Ford to add 1,200 jobs

17/07 The South African unit of Ford Motor Co said on Wednesday it would hire an additional 1,200 staff at one of its local assembly plants, an increase of over 25 percent,. . .  Full story