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    LONDON, Dec 5 (Reuters) – Pension funds and other ‘non-bank’ financial firms have more than $80 trillion of hidden, off-balance sheet dollar debt in FX swaps, the Bank for International Settlements (BIS) said. The BIS, dubbed the central bank to the world’s central banks, also said in its latest quarterly report that 2022’s market upheaval ...
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    Dec 6 (Reuters) – Saudi Arabia will host a China-Arab summit on Dec. 9 attended by Chinese President Xi Jinping, with the leaders of the two countries expected to discuss trade ties and regional security. Xi’s visit comes at a time when U.S.-Saudi ties are at a nadir, uncertainty weighs on global energy markets with ...
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    NEW YORK, Dec 6 (Reuters) – As the U.S. dollar tumbles from multi-decade highs, some investors are betting emerging market currencies will be big winners from a sustained reversal in the greenback. The MSCI International Emerging Market Currency Index (.MIEM00000CUS) is up nearly 5% from its lows and notched its best monthly gain in about ...
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    HANOI, Dec 6 (Reuters) – South Korean electronics giants Samsung (005930.KS) and LG (066570.KS) plan to pour billions of dollars of additional investment into Vietnam, state media reports and the Vietnamese government said on Tuesday. The announcement comes after Samsung cut smartphone production in Vietnam twice this year in response to weaker global demand. Samsung ...
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    LAGOS, Dec 4 (Reuters) – The anti-establishment candidate for Nigeria’s presidency will reform its system of costly subsidies and unify the local naira currency’s multiple exchange rates if elected in February, his manifesto released on Sunday showed. Nigeria operates multiple exchange rates that allow some companies to get dollars cheaply while the majority of forex ...
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    No discussions about Russian price cap – delegates Oil prices have come under pressure from weak economy Next meetings to take place Feb. 1 and June 3-4 LONDON/DUBAI, Dec 4 (Reuters) – OPEC+ agreed to stick to its oil output targets at a meeting on Sunday as the oil markets struggle to assess the impact ...
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    BEIRUT/ANKARA, Dec 2 (Reuters) – Syria is resisting Russian efforts to broker a summit with Turkey’s President Tayyip Erdogan, three sources said on Friday, after more than a decade of bitter enmity since the outbreak of Syria’s civil war. However two Turkish sources, including a senior official, disputed that Damascus was delaying and said that ...
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    DUBLIN, Dec 2 (Reuters) – Ireland’s domestic economy shrank by 1.1% quarter-on-quarter from July to September, following the strong investment driven growth of 4.7% in the second quarter of the year, data from the Central Statistics Office showed on Friday. Modified domestic demand (MDD), which strips out some of the ways Ireland’s large multinationals distorts ...
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    Dec 1 (Reuters) – TotalEnergies (TTEF.PA) will cut its investment in British North Sea oil and gas projects by a quarter next year after the UK government hiked a windfall tax on the sector, the French firm’s British exploration and production chief said on Wednesday. Energy giants Shell (SHEL.L) and Equinor (EQNR.OL) have also said ...
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    LONDON, Dec 1 (Reuters) – HSBC (HSBA.L) has identified $1.7 billion of extra costs that can be stripped out next year, Chief Executive Noel Quinn said on Friday, as the bank battles to improve returns amid calls for it to be broken up by its biggest shareholder. The cuts – on top of existing targeted ...