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European stocks slip

London (AFP) – European stock markets weakened Friday as poor Chinese trade data sparked fresh concern about slowing economic growth in the Asian powerhouse nation. London’s FTSE 100 index of top companies dipped 0.08 per cent to 5,846.37 points in morning deals, Frankfurt’s DAX 30 dropped 0.37 per cent to 6,939.68 and the Paris CAC …

Daily News Egypt

Once-resilient Germany catches Europe’s crisis fever

Frankfurt (AFP)  — Germany long appeared immune to Europe’s debt crisis, as deep reforms undertaken years ago helped steel the economic powerhouse against the current financial storms lashing its neighbours. But a raft of new economic data suggest that Germany, too, is slowly succumbing to the crisis fevers and could even fall back into recession …

Daily News Egypt

France heads back into recession

Paris (AFP) — France is headed back into recession for the second time in three years, its central bank warned Wednesday in a setback for the recovery prospects of the stricken eurozone. In a downbeat survey of the outlook for Europe’s second biggest economy, the Bank of France predicted a 0.1 percent contraction in gross …

Daily News Egypt

European stocks firm despite mounting global economic woes

London’s benchmark FTSE 100 index added 0.24 percent to 5,512.68 points in midday trade but was off earlier highs following dire news that Britain’s recession deepened in the second quarter of 2012. British gross domestic product slumped by a worse-than-expected 0.7 percent in the three months to June, according to official data published just ahead …

Daily News Egypt

IMF scales back global growth forecast for 2012

The International Monetary Fund stepped up its warnings Monday on risks to the global economy, especially from Europe, as it trimmed its growth forecast for the rest of the year. The IMF said the world economy appeared weaker since its assessment just three months ago, and while growth was only slightly off the expected pace, …

Daily News Egypt

Hungary prepares for tough credit talks with IMF-EU

Budapest (AFP) – Hungary and the International Monetary Fund (IMF) will take a new stab at a 15-billion-euro credit line deal, starting on Tuesday, following months of delay due to controversial central bank reforms. A delegation of representatives from the IMF and European Union (EU) is due to arrive in Budapest Tuesday for negotiations until …

Daily News Egypt

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Deutsche Bank to co-operate with Libor probe

Berlin (AFP) – Deutsche Bank wants to cooperate with European investigators probing the manipulation of interbank interest rates to limit damage to its reputation and bottom line, a newspaper said Sunday. Germany’s biggest bank has asked the European Commission and Swiss authorities to give it the status of cooperating witness in their investigation of the …

Daily News Egypt

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