Ryan Chilcote News
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VTB Group, Russia’s second-largest state bank, is calling on policy makers to lower interest rates to help spur credit just as Bank Rossii reiterates its commitment to refrain from monetary easing.
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Zimbabwe won’t hold elections next month because the ruling coalition has failed to agree on changes to security and media laws needed to ensure for a fair vote, Prime Minister Morgan Tsvangirai said.
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Aliko Dangote, Africa’s wealthiest man, says he has negotiated loans of $4.25 billion from banks to build a refinery to help the continent’s largest crude oil producer reduce gasoline imports.
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Africa, one of the least Internet-connected places on the planet, has a growing interest in online retailing.
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AngloGold Ashanti Ltd. Chief Executive Officer Srinivasan Venkatakrishnan, appointed yesterday, is tasked with boosting value for investors in the world’s third- biggest producer of the metal, Chairman Tito Mboweni said.
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South African Finance Minister Pravin Gordhan said the rand’s weakness is related to “unnecessarily negative” sentiment toward the country and the currency may be weaker than it should be.
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The Cypriot government plans to sell part of its gold reserves within the next months, a decision that needs to be approved by the country’s central bank, Finance Minister Haris Georgiades said.
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OAO Rosneft said a plan to step up Arctic exploration will help increase shareholder value at the same time the world’s largest publicly traded oil producer starts exporting liquefied natural gas.
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Brooklyn Nets owner Mikhail Prokhorov said the team needs “one more good player” to reach the top level of the National Basketball Association, and that it remains on track to fulfill his prediction of a title by 2015.
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The International Swaps & Derivatives Association, a financial industry derivatives group, is being probed as part of a European Union antitrust investigation into how data on credit derivatives is shared.
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