UPDATE 1-Egypt targets 6.4% growth, 6.2% deficit in fiscal 2020/2021 – finance ministry

(Adds detail, background) CAIRO, Nov 11 (Reuters) – Egypt is targeting 6.4% growth and a budget deficit of 6.2% in fiscal year 2020/2021, the finance ministry said on Monday. Egypt is also targeting a debt-to-GDP ratio of 80%, the ministry said in a preliminary financial statement for next fiscal year’s budget. “The fiscal year 2020/21 budget is considered a structural […]

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Pound Euro exchange rate falls as BoE warns of global ‘rut’

The pound was left under pressure as two policymakers, Michael Saunders and Jonathan Haskel unexpectedly voted to lower rates, while BoE Governor Mark Carney warned that the global economic outlook had darkened, adding that the world was in “a low growth, low inflation rut”. He also explained that the bank might need to ease policy if global growth failed to stabilise […]

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UPDATE 1-Divided Czech central bank holds rates as weak growth abroad weighs

(Updates with bank statement, vote count, new outlook) By Jan Lopatka and Robert Muller PRAGUE, Nov 7 (Reuters) – A divided Czech National Bank (CNB) held interest rates on Thursday, with the knock-on effect of economic weakness abroad staying its hand as policymakers again debated whether a hike was needed to fight persistent domestic price pressures. Central European growth has […]

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Japan services sector shrinks for first time since 2016 as sales tax hike kicks in – PMI

TOKYO, Nov 6 (Reuters) – Activity in Japan’s services sector shrank for the first time in three years in October as a powerful typhoon and a sales tax hike weighed on demand, a survey showed on Wednesday, raising a red flag for the world’s third-largest economy. The final Jibun Bank Japan Services Purchasing Managers’ Index (PMI) dropped to 49.7 in […]

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‘A vote for the Brexit Party is a now vote for Corbyn’ – Brexiteers furious with Farage

Mr Farage has urged Mr Johnson to join him in a “Leave alliance”, suggesting such a move would result in a “stonking majority” by enabling his Brexit Party to target Labour seats where a majority of voters voted to quit the EU. However, crucially, Brexit Party leader Mr Farage said Mr Johnson must first pull the plug of his draft withdrawal […]

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China October factory activity shrinks for sixth month: official PMI

BEIJING (Reuters) – Factory activity in China shrank for the sixth straight month in October, official data showed on Thursday, pointing to further pressure on its manufacturers as they grapple with the weakest economic growth in nearly 30 years. The official Purchasing Managers’ Index (PMI) was at 49.3 in October, dipping from 49.8 in September, the survey from the statistics […]

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China's service sector activity grows at slower pace in October – official PMI

BEIJING, Oct 31 (Reuters) – Growth in China’s services sector activity slowed to the lowest since February 2016 in October, official data showed on Thursday, pointing to a further weakening in domestic demand and mounting pressure on the world’s second-largest economy. The official non-manufacturing Purchasing Managers’ Index (PMI) dropped to 52.8 from 53.7 in September, though it remained above the […]

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Pound Euro exchange rate: GBP/EUR flat, pre-Christmas election to break Brexit deadlock

The pound rose on hopes that the UK will avoid crashing out of the European Union without a deal after EU leaders granted the UK a three-month “flextension”. Meanwhile, MPs began to prepare themselves for the first pre-Christmas election in close to a century as Tuesday evening saw lawmakers approve Boris Johnson’s legislation and Labour leader Jeremy Corbyn concede to a […]

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