EU sustainable finance advisers say green means green

© Reuters. FILE PHOTO: EU flags flutter outside the European Commission headquarters in Brussels By Kate Abnett and Simon Jessop BRUSSELS (Reuters) – Economic activities should be labelled as green investments only if they truly contribute to science-based goals to fight climate change, European Union advisers said on Friday, as countries in the bloc battle […]

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Credit Suisse Asset Management suspends supply chain finance funds

© Reuters. FILE PHOTO: A logo of Credit Suisse is pictured on a building in Geneva (Reuters) – Credit Suisse (SIX:) Asset Management said on Monday that it has suspended redemptions from its supply chain finance funds. In a note to investors, the asset manager said that “a certain part of the subfunds’ assets is […]

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Exclusive: Chinese banks, Australia’s Macquarie tiptoe into Asian oil finance void

© Reuters. FILE PHOTO: An oil tanker is pictured in the waters off Tuas in Singapore By Chen Aizhu SINGAPORE (Reuters) – Chinese national banks and Australia’s Macquarie Group (OTC:) are quietly filling some of the multi-billion-dollar hole in Asian oil financing after the withdrawal of traditional European lenders, hurt by a raft of defaults […]

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Top finance trade groups join calls for U.S. carbon pricing

By Ross Kerber (Reuters) – Major U.S. financial trade groups on Thursday joined calls for some type of carbon pricing in the United States, underscoring the growing corporate enthusiasm for steps to slow the pace of climate change. “For markets to function you’ve got to have a price on carbon,” said Tim Adams, president of […]

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Kuwait names new oil and finance ministers in cabinet approved by new emir

© Reuters. FILE PHOTO: Sheikh Nawaf al Ahmed al Sabah is sworn-in as new Emir of Kuwait DUBAI (Reuters) – Kuwait’s emir on Monday approved the formation of a new cabinet that included new ministers of oil and finance for the OPEC member state, the government communications office said, following a parliamentary election this month. […]

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India’s economy is seeing a ‘strong recovery’ take root, finance minister says

© Reuters. Outbreak of the coronavirus disease (COVID-19) in Mumbai By Aftab Ahmed NEW DELHI (Reuters) – India’s economy is seeing a strong recovery taking root, Finance Minister Nirmala Sitharaman said on Thursday while announcing a third round of fiscal stimulus to help stressed sectors battling the COVID-19 pandemic. Latest measures included additional funding for […]

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Biden taps progressives, unions for economic, trade and finance transition

© Reuters. FILE PHOTO: Former CFTC chair Gensler testifies at a 2013 Senate Banking, Housing and Urban Affairs Committee hearing on Capitol Hill By Andrea Shalal and Michelle Price WASHINGTON (Reuters) – U.S. President-elect Joe Biden tapped finance, trade, and banking regulatory experts for his transition team that ranged from core Democrats to progressive activists, […]

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Turkish finance minister resigns in second surprise departure after lira slide

© Reuters. Turkish Treasury and Finance Minister Berat Albayrak attends a news conference in Istanbul By Nevzat Devranoglu and Orhan Coskun ANKARA (Reuters) – Turkish Finance Minister Berat Albayrak said on Sunday he was resigning for health reasons, the second surprise departure of a top economic policymaker in two days after the central bank chief […]

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Wealthy countries edge towards global climate finance goal

© Reuters. FILE PHOTO: Smoke and steam billows from Belchatow Power Station, Europe’s largest coal-fired power plant operated by PGE Group, near Belchatow By Kate Abnett BRUSSELS (Reuters) – Wealthy countries have ramped up financing to help developing countries cut carbon emissions and cope with the impact of climate change, although it is unclear if […]

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G20 finance leaders to debate debt relief on Nov 13, says Japan’s Aso

© Reuters. FILE PHOTO: Japan’s newly-appointed Finance Minister Taro Aso speaks at a news conference in Tokyo TOKYO (Reuters) – The Group of 20 finance leaders will discuss debt relief for emerging nations at their meeting on Nov. 13, Japanese Finance Minister Taro Aso said on Friday. “Fair burden among lenders is important” in addressing […]

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