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Businessman buys Russian unit of German DIY chain OBI for $10 after settling debts -Forbes
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Oil drops as China data weighs
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Germany’s Salzgitter seeks exemption from national gas rationing
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Overcoming the Risk of Relying on Email for Law Firms
Russia’s oil export duty to fall to $52/T in Sept -finance ministry
Date: August 15, 2022
MOSCOW (Reuters) – Russia’s oil export duty is set to decline to $52 per tonne in September from $53 per tonne in August, the finance ministry said on Monday, tracking global oil prices. The level of duty is calculated by the finance ministry and based on monitoring of seaborne Urals crude oil prices. The ministry...
Dollar jumps on safety flows after China data, yuan slips on rate cut
Date: August 15, 2022
By Joice Alves LONDON (Reuters) – The safe-haven U.S. dollar rose on Monday after a new batch of disappointing Chinese data bolstered global recession worries, while the yuan weakened following a surprise key rate cut by the People’s Bank of China. Chinese industrial output, retail sales and fixed-asset investment all fell short of analyst estimates...
Rouble falls past 61 vs dollar as conversion of depository receipts begins
Date: August 15, 2022
MOSCOW (Reuters) -The rouble slid past 61 to the dollar on Monday as the conversion of depository receipts in Russian companies to local shares got underway, and as foreign investors from designated “friendly” countries were able to return to the bond market. At 1029 GMT, the rouble was 1.5% weaker against the dollar at 61.49,...
Swiss sight deposits increase showing possible central bank activity
Date: August 15, 2022
ZURICH (Reuters) – Sight deposits held by the Swiss National Bank increased by 1.7 billion Swiss francs ($1.80 billion) last week, data showed on Monday, indicating the central bank could be intervening in the market to slow the franc’s surge in value. Total sight deposits held by the SNB increased to 751.28 billion francs from...
Meal-kit firm HelloFresh still aiming for higher 2022 targets, shares soar
Date: August 15, 2022
By Elena Vardon and Tristan Chabba (Reuters) – German meal-kit maker HelloFresh said on Monday it could still achieve its earlier 2022 outlook despite cutting the forecast last month, sending its shares up by as much as 10%. The Berlin-based company, which delivers boxes with ingredients and recipes directly to consumers’ doors, said in July...
Factbox – Why low water levels on the Rhine river hurt Germany’s economy
Date: August 15, 2022
BERLIN (Reuters) – Water levels on the Rhine river are very low because of unusually hot and dry weather, preventing many vessels from navigating the critical European shipping route fully loaded. Here are some facts about why shipping on the Rhine river is important for the economy: WHY IS RHINE RIVER SHIPPING IMPORTANT? Flowing from...