LONDON (Reuters) – Lithuania’s budget deficit will be higher than originally forecast this year, but it still expects to meet the criterion for joining the euro zone, the country’s finance minister said on Tuesday.
Lithuania hopes to join the euro in 2015, and to qualify its deficit must not exceed 3 percent of gross domestic product. The deficit should come in just below that, Rimantas Sadzius said in interviews with Reuters Insider television and Reuters.
LONDON, Nov 13 (Reuters) – Emerging stocks dropped more than
1 percent to two-month lows and currencies fell on Wednesday on
renewed speculation of a withdrawal of risk-supporting U.S.
The Indian rupee hit two-month lows before suspected
central bank intervention, and the Indonesian rupiah hit
4-1/2 year lows.
LONDON, Nov 12 (Reuters) – Britain is considering setting up
a London-based clearing bank for the offshore yuan market to
improve liquidity, a government minister said on Tuesday.
Finance minister George Osborne has been leading a drive to
develop London as an offshore trading centre for the yuan, and
last month eased the rules for Chinese banks to set up in
LONDON (Reuters) – The European Bank for Reconstruction and Development cut its growth forecasts for central and eastern Europe and North Africa on Monday, citing weak demand for their exports and unfinished reforms.
Deflationary pressures were also coming from the euro zone, but internal risks of deflation were limited, the bank’s chief economist said.
LONDON (Reuters) – Three years ago, a trip to the Southern Kenya production facilities of Canadian company Africa Oil attracted only seven potential investors. Two months ago, 60 boarded the flight.
The investor trip, described by sales staff at Citi following a recent client conference, is just one illustration of the swelling interest in the most esoteric frontier markets.
LONDON, Nov 6 (Reuters) – Three years ago, a trip to the
Southern Kenya production facilities of Canadian company Africa
Oil attracted only seven potential investors. Two months
ago, 60 boarded the flight.
The investor trip, described by sales staff at Citi
following a recent client conference, is just one illustration
of the swelling interest in the most esoteric frontier markets.
LONDON (Reuters) – Poland’s transfer of privately-run pensions to the state will go ahead early next year, despite a legal opinion that the move could be unconstitutional, finance minister Jacek Rostowski told Reuters on Monday.
Rostowski, who is also deputy prime minister, said in an interview that the economy would grow by around 1.5 percent this year and 2.5 percent next year, helped by a recovery in the euro zone.
LONDON, Nov 1 (Reuters) – Kazakhstan will complete its
planned transfer of pension funds into a state entity in the
middle of next year, its central bank governor said on Friday, a
delay from the previous timetable of the end of 2013.
The oil-rich country wants to hold all its pension assets in
a single, state-run fund to allow the government to mobilise
billions of dollars for large projects to help sustain fast
economic growth without raiding the strategic National Fund,
which manages windfall revenues from oil exports.
LONDON, Oct 30 (Reuters) – The United Arab Emirates central
bank governor said on Wednesday he was not worried about a new
house price bubble similar to one which burst in 2008, halving
property prices in the following two years and pushing Dubai
close to default.
Prices have risen again in the past year and the central
bank imposed limits on mortgage loans this week to prevent
another boom-and-bust cycle in the property market.
LONDON (Reuters) – Euro zone entry in January will likely boost Latvian inflation by 0.2-0.3 percentage points next year, its central bank governor said on Friday, after two dips into deflationary territory this year.
The Baltic country has been recording strong economic growth and has relatively low debt levels after a deep recession during the 2008 global credit crisis, when it slashed spending and encouraged lower wage costs to keep its currency pegged to the euro.