Cuba sees slow economic recovery at 4% in 2022 – official

© Reuters. FILE PHOTO: A vendor shows Cuban pesos notes in a public market in Havana, Cuba, June 12, 2021. REUTERS/Alexandre Meneghini By Marc Frank HAVANA (Reuters) – A cash short and crippled Cuban economy will grow 4% next year as the Communist-run country struggles to recover from an economic crisis, according to a report by the prime minister posted over the weekend. Prime Minister Manuel Marrero’s annual report said the economy began a slow recovery of around 2% this year after declining 10.9% in 2020 and stagnating for several…

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Life after PEPP: Five questions for the ECB

2/2 © Reuters. FILE PHOTO: President of the European Central Bank (ECB) Christine Lagarde speaks as she takes part in a news conference on the outcome of the Governing Council meeting, in Frankfurt, Germany, October 28, 2021. REUTERS/Kai Pfaffenbach/File Photo/File Phot 2/2 By Dhara Ranasinghe and Saikat Chatterjee LONDON (Reuters) – Thursday\’s European Central Bank meeting looks like a crucial one – officials are set to call time on pandemic-triggered stimulus. The question now is how much support to leave in its place given the emergence of the Omicron COVID-19…

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Israeli banks may resume regular dividends in 2022, regulator says

© Reuters. FILE PHOTO: The Bank of Israel building is seen in Jerusalem June 16, 2020. REUTERS/Ronen Zvulun/File Photo By Steven Scheer JERUSALEM (Reuters) -Israel\’s banking regulator said on Monday that Israeli banks could resume regular divided payouts starting in 2022, cancelling a temporary directive made at the outset of the COVID-19 pandemic while cautioning banks over market uncertainty caused by the virus. \”With the return to orderly economic activity, the need for providing easings to banking corporations in their banking activities declined,\” the Bank of Israel said. \”Therefore, beginning…

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Russia expecting progress on Iran nuclear deal – RIA

© Reuters. FILE PHOTO: Russian Deputy Foreign Minister Sergei Ryabkov arrives for a meeting with U.S. special envoy Marshall Billingslea in Vienna, Austria June 22, 2020. REUTERS/Leonhard Foeger MOSCOW (Reuters) – Russia on Monday said it had reason to expect some progress on the revival of a 2015 nuclear deal with Iran and that the likelihood of reaching an agreement had increased, the RIA news agency reported, citing Deputy Foreign Minister Sergei Ryabkov. Talks have resumed in Vienna to try to revive the nuclear pact, with both sides trying to…

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France\’s Le Maire: economic growth will be better in 2021 than current 6.25% forecast

© Reuters. FILE PHOTO: French Economy and Finance Minister Bruno Le Maire attends a joint news conference with Paschal Donohoe, Eurogroup President and Irish Finance Minister, (not seen) after a meeting at the Bercy Finance Ministry in Paris, France, November 29, 20 PARIS (Reuters) – French Finance Minister Bruno Le Maire said on Monday that France\’s economic growth this year will be better than the government\’s forecast of 6.25%, even though inflation was currently strong and weighing on people\’s spending power. \”Let\’s stick to the official forecast of 6.25% but…

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Philippines secures $250 million loan from ADB for COVID-19 vaccines

© Reuters. FILE PHOTO: People queue at a vaccination centre amid the coronavirus disease (COVID-19) outbreak, in San Juan City, Metro Manila, Philippines, November 29, 2021. REUTERS/ Peter Blaza MANILA (Reuters) – The Asian Development Bank (ADB) has approved a $250 million loan for the Philippines to purchase COVID-19 vaccines, it said in a statement on Monday. The ADB said the loan would allow the government to purchase 40 million additional COVID-19 vaccine doses for eligible children and booster shots for adults. The Philippines is aiming to fully vaccinate at…

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Libor limbers up for \’Y2K\’ walk into a $265 trillion sunset

© Reuters. FILE PHOTO: The City of London financial district is seen in London, Britain, October 22, 2021. REUTERS/Hannah McKay/File Photo By Huw Jones and John McCrank LONDON/NEW YORK (Reuters) – Bankers and regulators will be at their screens on New Year\’s Eve to see if what was once dubbed the world\’s most important number slips quietly into the history books. The London Interbank Offered Rate, or Libor, is finally being switched off, ending its role pricing derivatives and loans ranging from mortgages and student loans to business funding and…

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Take Five: Ready for a central bank bonanza?

© Reuters. FILE PHOTO: Federal Reserve in Washington, U.S., November 22, 2021. REUTERS/Kevin Lamarque/File Photo (Reuters) -It\’s a bumper week for central banks in the United States, the euro zone, Japan, Britain, Mexico and Russia. And will Turkey\’s central bank deliver more cuts? The China Evergrande Group saga moves into the next stage after ratings agency Fitch calls a default. Plus: Is SPAC-mania back from the dead? Here\’s your week ahead in markets from Kevin Buckland https://www.reuters.com/journalists/kevin-buckland in Tokyo; Ira Iosebashvili in New York; Abhinav Ramnarayan https://www.reuters.com/journalists/abhinav-ramnarayan, Dhara Ranasinghe https://www.reuters.com/journalists/dhara-ranasinghe…

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Fitch puts 13 Turkish banks on downgrade warnings

© Reuters. FILE PHOTO: The offices of Fitch Ratings building appears empty in Canary Wharf, following the outbreak of the coronavirus disease (COVID-19), London, Britain, May 27, 2020. REUTERS/Dylan Martinez LONDON (Reuters) – Credit rating agency Fitch has put 13 Turkish banks on downgrade warnings following a similar move on the government\’s sovereign rating last week. The moves come after three central bank interest rate cuts in quick succession despite inflation topping 21% has triggered a more than 40% slump in the lira since September. \”We believe that the risks…

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Fed to pivot on inflation fears in the face of another uncertain year

© Reuters. FILE PHOTO: Federal Reserve Chair Jerome Powell prepares to testify before a Senate Banking Committee hybrid hearing on oversight of the Treasury Department and the Federal Reserve on Capitol Hill in Washington, U.S., November 30, 2021. REUTERS/Elizabeth By Lindsay (NYSE:LNN) Dunsmuir (Reuters) – The U.S. Federal Reserve, stung by persistently high inflation and encouraged by lower-than-expected unemployment, is set on Wednesday to chart a path of higher interest rates next year as policymakers show their hands on just how soon and how much they think borrowing costs will…

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