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World Bank announces $200 billion for Climate Action

World-Bank-news

The World Bank Group today announced a major new set of climate targets for 2021-2025, doubling its current 5-year investments to around $200 billion in support for countries to take ambitious climate action. The new plan significantly boosts support for adaptation and resilience, recognizing mounting climate change impacts on lives and livelihoods, especially in the world’s poorest countries. The plan ...

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IMF endorses crpto currency

IMF Managing Director - Christine Lagarde

IMF head Christine Lagarde has dedicated a new blog post to the “potential benefits” of “crypto-assets such as Bitcoin.” The head of the International Monetary Fund (IMF) Christine Lagarde was buoyant about cryptocurrency in a blog post in support of the technology, published Monday, April 16. The post, which comes roughly one month after Lagarde cautioned against the “dark side” ...

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Exclusive: China’s Wanda mulls sport unit IPO and sale of overseas assets – sources

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China’s Dalian Wanda Group is considering a Hong Kong listing for its sports assets as part of efforts to rationalize its portfolio that could also include other sales, according to five people familiar with the situation. The conglomerate last month tapped investment banks for a potential initial public offering of its sports businesses, three of the sources said. Citic Securities, ...

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Asian shares scale ten-year peak, oil elevated on Iran unrest

Asia

Asian shares vaulted to 10-year highs on Thursday as solid economic data from the United States and Germany reinforced investors’ optimism, while oil prices hovered at a 2-1/2-year high with unrest in Iran stoking supply disruption concerns. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.3 percent, extending its gains so far this year to 2.4 percent. Japan’s ...

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China’s war on smog, risk, taking edge off Asia’s growth sprint

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Growth in China’s manufacturing output slowed in October, threatening to chill activity across Asia, as tough steps to reduce air pollution forced factories to reduce production and a crackdown on financial risk-taking weighed on smaller firms. While business surveys on Wednesday suggested Asia’s export-driven expansion still has legs, the readings are starting to reflect signs of fatigue after an impressive ...

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Asia shares mount 10-year top on strong economy, oil gains

asia

Asian shares scaled a 10-year high on Wednesday on the back of solid economic growth globally, while oil prices extended a bull run on hopes that major producers will maintain their output cuts. European shares are expected to rise, with spread-betters looking at a higher opening of 0.4 percent in France’s CAC and 0.3 percent in Britain’s FTSE. MSCI’s broadest ...

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Japan transport ministry raids two Nissan plants over improper checks

toyo

Japan’s transport ministry said on Wednesday it had carried out spot inspections at two plants producing Nissan Motor Co Ltd (7201.T) vehicles as part of a probe into final checks, days after irregularities forced the automaker to recall 1.2 million cars sold in Japan. The two inspections on Tuesday followed inspections at four more factories last week, the ministry said. ...

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Samsung scion Lee fights back tears as prosecutors seek 12 years’ jail

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Samsung Electronics Vice Chairman Jay Y. Lee fought back tears and denied wrongdoing on Monday as prosecutors sought a 12-year jail term on charges that include bribing the former president to help cement control of the South Korean tech giant. Lee, the de facto leader of one of Asia’s largest conglomerates, has been in detention since February on trial for ...

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Snapchat’s moment of truth is here

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Snapchat has seen much of its market value disappear since going public in March. Now the situation could go from bad to worse. Snap(SNAP), the parent company of Snapchat, fell as much as 5% in early trading Monday to a new low as some company insiders finally get the chance to cash out. The stock later rebounded and was flat ...

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Asia shares advance as investors look to data for proof of ‘goldilocks’

asia

Asian shares rose on Tuesday as investors looked to a barrage of economic data around the world to confirm recent signs the global economy is in fine fettle with inflation staying well contained. Spreadbetters expected a mostly stronger start for European shares, forecasting Britain’s FTSE to open 0.5 percent higher, Germany’s DAX to start up 0.1 percent and France’s CAC ...

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