• China's economic growth the lowest in 27 years

      China's economic growth the lowest in 27 years

      China released on Monday its second-quarter figures on Monday and they are showing that country's economy slowed to 6.2% - the weakest rate in at least 27 years, as the country’s trade war with the US remains still unsolved. The 6.2% growth from a year ago is in line with the expectations of analysts polled by Reuters, but is way lower than the 6.4% year-on-year growth in the first quarter of 2019.

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    • Deutsche Bank with major restructuring plan

      Deutsche Bank with major restructuring plan

      Deutsche Bank announced Sunday that it will pull out of global equities sales and trading, scale back investment banking and slash thousands of jobs as part of a sweeping restructuring plan to improve profitability. The German bank's strategic transformation is now expected to cost €7.4bn by the end of 2022.

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    • US to dominate the global gaming market in 2019

      US to dominate the global gaming market in 2019

      This year the US is expected to surpass China as the largest gaming market by revenue for the first time since 2015, partly due to Beijing's freeze on new game approvals last year, according to a recent report. Yet, It might be also because of PlayStation and Xbox.

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    • EIB, Bpifrance to support high potential companies

      EIB, Bpifrance to support high potential companies

      The European Investment Bank (EIB), represented by its Vice-President Ambroise Fayolle and Bpifrance, represented by its Managing Director Nicolas Dufourcq, signed on Tuesday a financing agreement as part of the activities of the European Investment Advisory Platform, or Advisory Hub - a one-stop-shop platform, providing advice and technical assistance in support investment projects in the EU.

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    • Pakistan to receive $6bn IMF bailout

      Pakistan to receive $6bn IMF bailout

      Pakistan and the International Monetary Fund (IMF) have agreed on terms for a $6bn bailout package, to be disbursed over a span of 39 months. The IMF said last week that the programme of structural reforms will target increasing government revenues and reducing spending, bringing down the primary fiscal deficit - which excludes development spending - to 0.6 percent of the Gross Domestic Product (GDP) in Pakistan's upcoming budget.

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    • Mastercard, Visa to cut card fees

      Mastercard, Visa to cut card fees

      After a long-running battle with the European Commission, last week Mastercard and Visa finally agreed to cut their fees for tourists using their cards in the EU, news wires reported. Both firms will now charge retailers around 40% less on non-EU credit and debit cards payments. The EU has accepted the offer as fair. The Commission has insisted that the so-called interchange fees in which the merchant's bank pays a charge to the cardholder's bank, result in higher prices for consumers.

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    • Worldwide military spending rose in 2018

      Worldwide military spending rose in 2018

      Global military spending is continuing to increase, growing for the second year in a row and reaching the highest levels since reliable global figures became available in 1988. That's the finding of a new report out by the Stockholm International Peace Research Institute, which estimated that global spending on defense hit $1.82 trillion in 2018, up 2.6% on the previous year.

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    • UK assets worth 800bn pounds to move to EU

      UK assets worth 800bn pounds to move to EU

      Assets worth nearly £800bn are in the process of shifting from Britain to new financial hubs in the European Union due to upcoming Brexit, consultancy EY announced on Monday. EY has been tracking the Brexit plans of 222 financial firms since the UK voted in June 2016 to leave the bloc. In its latest update to the end of November 2018, it said that 80 firms are considering or have confirmed relocating assets and staff. This means that more than £800bn in assets would move, a fraction of Britain’s 8 trillion pound banking sector.

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    • Major banks invited to join new EU blockchain initiative

      Major banks invited to join new EU blockchain initiative

      The European Commission (EC) has invited five banks to join a new European association to promote the use of blockchain technology. Called International Association for Trusted Blockchain Applications’ (IATBA), the goal of the association is to reportedly garner support from private blockchain and distribued ledger technology (DLT) experts to contribute to outline the EU’s strategy regarding these technologies.

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