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DAE discloses further $201mn in insurance settlements

23 Dec 2024

(The Insurer) – Aircraft lessor Dubai Aerospace Enterprise (DAE) has revealed that it has received cash proceeds totalling approximately $201mn over the past three months from settlements with selected insurance companies over aircraft previously on lease to airline carriers in Russia. Having received the cash proceeds, DAE and its relevant affiliated entities have since released their claims …

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Louis Dreyfus to buy BASF’s food and health performance ingredients business

23 Dec 2024

PARIS (Reuters) – Commodity group Louis Dreyfus Company (LDC) said on Monday it had signed a binding agreement to buy German chemicals maker BASF’s Food and Health Performance Ingredients business as part of its diversification push. LDC has partly shifted its focus towards the consumer end of the food chain to become less reliant on …

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Ukraine says it received $1.1 billion from IMF in latest funding

23 Dec 2024

(Reuters) – Ukraine’s prime minister Denys Shmyhal said on Monday the country had received $1.1 billion from the International Monetary Fund, which would be used for key budget expenditure. Finance Minister Serhiy Marchenko said Ukraine had already received $5.4 billion from the IMF so far this year. Kyiv relies heavily on foreign financial aid to …

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Norway’s wealth fund invests $977 million to take 100% ownership of eight US properties

23 Dec 2024

OSLO (Reuters) – Norway’s sovereign wealth fund said on Monday it has acquired additional stakes of 50.1% in eight office properties in Boston, San Francisco and Washington D.C. for $976.8 million, raising its ownership in the real estate to 100%. The deal values the portfolio at $1.95 billion, the fund said in a statement. “In …

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Swiss business gets Christmas bonus from EU trade deal

23 Dec 2024

By John Revill ZURICH (Reuters) – Swiss business welcomed a new deal to overhaul the country’s relationship with the European Union, bringing Christmas cheer to an economy that is set to be one of Europe’s most resilient in a challenging 2025. Corporate lobbies, economists and firms say the agreement unveiled on Friday stabilises relations with …

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Italy’s antitrust opens probe into Snam-Edison gas storage deal

23 Dec 2024

ROME (Reuters) – Italy’s antitrust agency (AGCM) said on Monday it had opened an investigation into Edison’s sale of its gas storage unit to gas grid operator Snam. AGCM said in its weekly bulletin it would probe whether the deal could significantly restrict competition “by strengthening Snam’s dominant position in the gas storage market.” When …

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Spain’s Q3 GDP quarterly growth confirmed at 0.8% – final data

23 Dec 2024

(Reuters) – Spain’s gross domestic product grew 0.8% in the third quarter, the country’s National Statistics Institute (INE) said on Monday, confirming the expectations of analysts polled by Reuters and the preliminary reading. On an annual basis, Spain’s third-quarter economic output expanded 3.3%, a downwards revision from the preliminary reading of 3.4%, INE said. Analysts …

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German import prices up 0.6% y/y in November

23 Dec 2024

(Reuters) – German import prices grew by 0.6% year on year in November, the statistics office said on Monday. Analysts polled by Reuters had predicted a 0.3% increase. The statistics office offers more detailed economic data on its website. (Reporting by Bartosz Dabrowski, editing by Kirsti Knolle)

Lagarde says ECB very close to reaching its inflation goal, FT reports

23 Dec 2024

(Reuters) -European Central Bank (ECB) President Christine Lagarde said the euro zone was getting “very close” to reaching the central bank’s medium-term inflation goal, according to an interview published by the Financial Times on Monday. Earlier in December, Lagarde had said the central bank would cut interest rates further if inflation continued to ease towards …

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