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Sri Lanka needs to raise fiscal revenue to maintain stability, IMF says

Sri Lanka needs to raise fiscal revenue to maintain stability, IMF says Aug 2 (Reuters) - Sri Lanka must make further efforts to raise fiscal revenue if it is to maintain macroeconomic stability and restore debt sustainability, the International Monetary Fund said on Friday, after wrapping up a staff visit to the country. After September's presidential election in the Indian Ocean nation, the global lender will discuss the timing for a review of progress in meeting key commitments as part of a $

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Sri Lanka needs to raise fiscal revenue to maintain stability, IMF says

Sri Lanka needs to raise fiscal revenue to maintain stability, IMF says Aug 2 (Reuters) - Sri Lanka must make further efforts to raise fiscal revenue if it is to maintain macroeconomic stability and restore debt sustainability, the International Monetary Fund said on Friday, after wrapping up a staff visit to the country. After September's presidential election in the Indian Ocean nation, the global lender will discuss the timing for a review of progress in meeting key commitments as part of a $

London's FTSE 100 falls amid broader declines as investors cautious ahead of US data

London's FTSE 100 falls amid broader declines as investors cautious ahead of US data For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window FTSE 100 down 0.4%, FTSE 250 off 1.2% Investment banking and brokerage, personal goods sectors lead declines U.S. payrolls data on tap Aug 2 (Reuters) - London stocks inched lower on Friday amid broader declines as investors were cautious ahead of a crucial jobs report in the United States, while an uptick
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Rouble strengthens as Russia says oil price comfortable

Rouble strengthens as Russia says oil price comfortable MOSCOW, Aug 2 (Reuters) - The Russian rouble edged up against the dollar on Friday following Russia's statement that current prices of oil, the country's primary export commodity, were comfortable. By 0730 GMT, the rouble was 0.7% higher at 85.50 RUB= against the dollar. Russian Deputy Prime Minister Alexander Novak said on Thursday the current level of oil prices was comfortable for Russia, its budget, and other participants in the market.
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European semiconductor stocks fall on weak US earnings, wider sell-off

BUZZ-European semiconductor stocks fall on weak US earnings, wider sell-off ** Shares in European semiconductor companies decline, following disappointing earnings from U.S. heavyweights and weaker-than-expected U.S. factory data ** The STOXX tech index .SX8P falls 3.2% to January lows, region-wide STOXX 600 .STOXX is down 1.4% ** The declines trac
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SoftBank, Naver JV to tender 2% stake in Line operator's $1 bln buyback

SoftBank, Naver JV to tender 2% stake in Line operator's $1 bln buyback TOKYO, Aug 2 (Reuters) - A joint venture of Japan's SoftBank Corp 9434.T and South Korea's Naver 035420.KS will sell back about 2% of its 64.42% stake in LY Corp 4689.T , which operates the popular messaging app Line, LY said in a share buyback disclosure on Friday. The stake of LY owned by the SoftBank-Naver venture "A Holdings" will be down to 62.50% when LY's 150 billion yen ($1.01 billion) buyback program is completed, t

Swiss annual inflation holds steady, spurs rate cut bets

UPDATE 1-Swiss annual inflation holds steady, spurs rate cut bets Updates with analyst comment paragraphs 5-7 ZURICH, Aug 2 (Reuters) - Switzerland's annual inflation rate held steady at 1.3% in July, in line with analysts' expectations, figures from the Federal Statistics Office showed on Friday, encouraging bets that the central bank could lower borrowing costs again next month.
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Tesla registers insurance brokerage in China, national corporate database shows

Tesla registers insurance brokerage in China, national corporate database shows BEIJING, Aug 2 (Reuters) - Tesla TSLA.O registered an insurance broking firm in China at the end of July, based on a national corporate information database, in a sign that the U.S. automaker may be trying again to gain approval to sell insurance products in the country. The new company, located in Beijing's Central Business District, was set up on July 30 with a registered capital of 50 million yuan ($6.92 million),
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Japan futures climb on supply concerns but post weekly loss

RUBBER-Japan futures climb on supply concerns but post weekly loss Updates with closing prices, adds analyst quote SINGAPORE, Aug 2 (Reuters) - Japanese rubber futures gained on Friday, buoyed by concerns over supply-side obstacles, although the contract for January delivery posted a weekly decline as a stronger yen and oil price movements weighed.
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UK's Capita falls on lower HY revenue, dour forecast

BUZZ-UK's Capita falls on lower HY revenue, dour forecast ** Shares of British outsourcing firm Capita CPI.L down 10.5% at 17.12p, lowest since March 6 and top loser on FTSE smallcap index ** HY revenue fell 16% to 1.24 bln pounds ** Sees a low to mid-single digit percentage adjusted revenue reduction in 2024 vs prior forecast which was broadly in
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Air Europa To Continue With Strategic Plan After IAG Scraps Proposed Takeover

BRIEF-Air Europa To Continue With Strategic Plan After IAG Scraps Proposed Takeover Aug 2 (Reuters) - Air Europa: TO CONTINUE IMPLEMENTING ITS STRATEGIC PLAN AFTER IAG'S WITHDRAWAL FROM ACQUISITION OF AIR EUROPA Source text for Workspace: nL4N3JO24V Further company coverage: ICAG.L (Gdansk Newsroom)

Rescuers in China race to find the missing, seal dykes after deadly floods

UPDATE 1-Rescuers in China race to find the missing, seal dykes after deadly floods Typhoon Gaemi brought record rainfall to southern Hunan province Floods devastated Hunan, with city of Zixing faring the worst Thirty deaths reported in Zixing, 35 still missing Adds difficulty reaching worst-hit areas; paragraphs 9-10 By Ryan Woo BEIJING, Aug 2 (Reuters) - Rescuers in China scrambled on Friday to locate dozens of people still missing a week after the year's most powerful typhoon roared into the

UniCredit says it faces second court case in Russia over guarantee payments

UniCredit says it faces second court case in Russia over guarantee payments MILAN, Aug 2 (Reuters) - UniCredit CRDI.MI faces a second court case in Russia linked to guarantee payments the Italian bank was not able to honour due to Western sanctions imposed in the wake of Russia's invasion of Ukraine, it said in its half year report. Reporting by Va
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India's TTK Prestige rises on 2 bln rupees share buyback

BUZZ-India's TTK Prestige rises on 2 bln rupees share buyback ** Shares of TTK Prestige TTKL.NS are up 4% in high vols ** Cookware maker approves share buyback of up to 2 billion rupees ($24 million) ** Sets buyback price at 1,200 rupees per share, a near 25% premium on last close ** Nearly 500,000 shares traded, 4x the 30-day avg ** TTKL has gaine

India's Expleo Solutions jumps on Q1 profit rise

BUZZ-India's Expleo Solutions jumps on Q1 profit rise ** Shares of Expleo Solutions EXPL.NS jump 4.7% to 1,353.45 rupees, their highest since late-Feb ** Consulting service firm reports 18% jump in Q1 profit, with revenue up 12% ** Stock eyes busiest trading day since early-Feb., with more than 156,000 shares traded; 30-day avg is 17,799 ** EXPL up

PARIS OLYMPICS 2024: What you need to know right now

PARIS OLYMPICS 2024: What you need to know right now Updates with Friday schedule PARIS, Aug 2 (Reuters) - Track action kicks into full gear at the Olympics on Friday, while home crowd favourite Leon Marchand goes for his fourth title of the Paris Games and French judo great Teddy Riner eyes a fourth Olympic gold medal. Olympic champions will also be crowned in badminton, equestrian, rowing, windsurfing and shooting.

Indonesia's H1 biodiesel consumption at 6.12 million kilolitres, says energy ministry

Indonesia's H1 biodiesel consumption at 6.12 million kilolitres, says energy ministry JAKARTA, Aug 2 (Reuters) - Indonesia's biodiesel consumption in the first half of 2024 reached 6.12 million kilolitres, data from the energy ministry showed on Friday. Indonesia allocated 13.4 million kilolitres of palm-oil based biodiesel for a B35 blending manda

India's Everest Industries slips after Q1 profit fall

BUZZ-India's Everest Industries slips after Q1 profit fall ** Shares of Everest Industries Ltd EVRI.NS fall as much as 5.8% to 1,132.55 rupees ** Building products maker reported a 9.5% fall in Q1 consol profit to 159.1 mln rupees ($1.90 mln) ** Cost of raw materials rose 14.2% y/y and rev from ops increased 7.9% y/y ** Stock on track to lose for third straight day and 4th week ** More than 35,000 shares traded as of 12:42 p.m.

South Korean shares post worst day in four years on tech rout

South Korean shares post worst day in four years on tech rout KOSPI falls 3.65%, biggest drop since Aug 2020 Samsung Electronics posts worst day since June 2020 Korean won weakens against dollar South Korea benchmark bond yield falls For the midday report, please click nL1N3JP019 SEOUL, Aug 2 (Reuters) - Round-up of South Korean financial markets: ** South Korean shares on Friday posted their worst session in four years, as chip stocks plunged after Wall Street's overnight slump on worries about

Volvo Cars' July sales rise 6%

UPDATE 1-Volvo Cars' July sales rise 6% Adds detail and quote from statement in paragraphs 2-3 COPENHAGEN, Aug 2 (Reuters) - Volvo Cars' VOLCARb.ST sales rose 6% year-on-year in July to 57,447 cars, driven by an increase in fully electric vehicles in Europe, the Sweden-based automaker said on Friday. Volvo Cars, which is majority-owned by China's Geely Holding, said in a statement that sales of fully electric and plug-in hybrid models were up 49% compared to the same period of 2023 and also acco

Japan's Nikkei sinks nearly 6% on US slowdown fears

Japan's Nikkei sinks nearly 6% on US slowdown fears Updates at 0600 GMT By Junko Fujita and Ankur Banerjee TOKYO/SINGAPORE, Aug 2 (Reuters) - Japan's Nikkei share average fell nearly 6% on Friday to post its worst session in more than four years, as fears of a U.S. slowdown and uncertainties over the Japanese central bank's tightening path soured appetite for risk assets.
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