Adverse conditions in the global markets took a toll on Norway's Pension Fund, the world's largest sovereign fund, in the second quarter.
Tags: EU
China warns WTO on its cheaper exports hard to resist
Reacting to concerns over Chinese dumping, the world's second-largest economy has slapped a notice on complaints with World Trade Organization (WTO) that such baseless concerns about its cheaper exports should need to meet higher standards from December 2016.
Is Russia bottoming out?
The latest data for August shows that Russia's economy is showing signs of slowing down. But the rate of decline is moderating, the real sector data is giving a sigh of relief as the worst conditions in the economy are softening, if not improving.
Serbia cuts rates for 2nd time this month
With an objective of boosting economic growth, Serbia has slashed interest rate for a consecutive second month. The inflation rate is below the government's target and GDP growth rate was also eased in 2014. The decision of Serbia, the biggest former Yugoslav republic, to slash interest rate for a consecutive second month surprised everyone as it unexpected one both the times.
Athens goes for gas grid privatization
The crisis-hit European nation Greece is heading towards privatization of its energy sector. The country is also in favor of reforms in several sectors to give a new life to the ailing economy.
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Greek is heading towards a third round of bailout package when the crisis-hit nation is about to make repayment of euro 3.2billion to the European Central Bank. The third bailout plan for ailing Greece economy is creating tremors in the European Union (EU). German's decision is crucial on Wednesday.
Morgan Stanley, JPMorgan Chase and Goldman Sachs were the top-three beneficiaries in equity trading revenues during the second quarter of 2015.
Greek government officials discussed a draft of the country's third bailout agreement drawn up on the basis of discussions with EU/IMF lenders, a government official said on Saturday, boosting hopes a deal could be wrapped up in days.
China will pledge a multi-billion dollar investment in Europe's new infrastructure fund at a summit on June 29 in Brussels, according to a draft communique seen by Reuters - Beijing's latest round of chequebook diplomacy to win greater influence.
Timo Soini, the Finns Party leader and possible new finance minister of Finland, said on Friday it would make sense for Greece to leave the euro zone.
Greek Prime Minister Alexis Tsipras on Monday reshuffled his team handling talks with European and IMF lenders, a move widely seen as an effort to sideline embattled Finance Minister Yanis Varoufakis to a less active role in negotiations.
Greece offered some concessions on Friday on reforms demanded by international lenders in return for new funding before Athens runs out of money, but euro zone creditors said negotiations needed to speed up to get a deal by June.
The European Union accused Google Inc on Wednesday of cheating consumers and competitors by distorting Web search results to favor its own shopping service, after a five-year investigation that could change the rules for business online.
Germany's economy minister warned on Saturday against overblowing expectations for an economic boost from a trade deal between the United States and European Union but said the pact was needed to set high common standards for consumers.
