Egypt signs MOUs with developers for $12.7 billion in projects: minister
SHARM EL-SHEIKH, Egypt (Reuters) – Egypt has signed preliminary deals with four Arab real estate developers for four projects worth a total of $12.7 billion, the country’s housing minister said on the sidelines of an economic summit on Sunday.
China consumer show targets Volkswagen, Nissan
SHANGHAI (Reuters) – Carmakers including Volkswagen AG , Nissan Motor Co Ltd and Daimler AG were scrambling late on Sunday after China’s annual consumer rights day TV show said the firms oversold repairs and spare parts to drivers.
Monte Paschi’s chairman aims to step down after cash call: paper
MILAN (Reuters) – Alessandro Profumo wants to step down as chairman of Monte dei Paschi di Siena once the troubled Italian bank has completed its 3 billion-euro ($3 billion) share sale, according to Italian daily Il Sole 24 Ore.
Has the Fed’s ‘patience’ been exhausted?
LONDON (Reuters) – For a world economy coming to terms with a soaring dollar and a plunge in oil prices, this week will be all about the U.S. Federal Reserve’s policy meeting and its intentions on interest rates.
Egypt’s Sawiris to diversify Orascom, invest $500 million in Egypt
SHARM EL SHEIKH, Egypt (Reuters) – Top Egyptian businessman Naguib Sawiris said he was ready to invest $500 million in Egypt and was diversifying his telecoms business into infrastructure, energy and transportation, sectors which need major funds in th…
Dreary home market spurs Spanish banks on to foreign climes
MADRID (Reuters) – Subdued growth prospects at home are pushing mid-sized Spanish banks into foreign acquisitions that would have been impossible a few years ago as they struggled under the weight of bad loans.
Rise of Turkish Islamic banks chimes with Erdogan’s ideals
ISTANBUL (Reuters) – Selling fruit from a cart in a working-class neighborhood of Istanbul hasn’t made Mehmet rich, but he’s adamant his modest savings won’t ever see the inside of a bank.
Credit Suisse not planning new capital raising: newspaper
GENEVA (Reuters) – Credit Suisse Group AG has no plans to raise more capital, its chairman said in an interview published in the SonntagsZeitung newspaper on Sunday.
No more Blue Banana, Europe’s industrial heart moves east
BRUSSELS (Reuters) – Once depicted as a “Blue Banana” stretching from Manchester to Milan, Europe’s industrial heartland has moved eastwards just as its political center of gravity has shifted to Germany.
Greece’s Varoufakis says QE to fuel unsustainable equity rally
CERNOBBIO, Italy (Reuters) – The European Central Bank’s bond purchases will create an unsustainable stock market rally and are unlikely to boost euro zone investments, Greek Finance Minister Yanis Varoufakis warned on Saturday.
