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  • KAYSERI, Turkey, Feb 27- President Tayyip Erdogan's tirades against the central bank may be stoking turmoil in Turkish financial markets, but they are winning praise from a class of industrialists who have thrived over the past decade and see him as a pillar of their success. "Without the economic policies of last ten years, without the political stability, and the...

  • ISTANBUL, Feb 27- Turkish Central Bank Governor Erdem Basci sought to calm jittery investors on Friday, appearing to dismiss rumours that he would resign and giving a brief lift to the lira currency after it tumbled to a record low. In a sign of the pressure Basci faces, Economy Minister Nihat Zeybekci was quoted as saying on Friday that the main interest rate...

  • *J.C. Penney tumbles after earnings. NEW YORK, Feb 27- U.S. stock index futures were little changed on Friday, with major indexes on track for a fourth week of gains, ahead of readings on economic growth and consumer sentiment. *Later in the session at 10:00 a.m., the University of Michigan's final February reading on consumer sentiment is expected, along with pending...

  • MUMBAI, Feb 27- The firm behind Cafe Coffee Day, India's biggest homegrown coffee chain, is set for a market debut that could value it at almost $1 billion, even as the country's burgeoning cafe culture draws global giants Starbucks and McDonald's. Cafe Coffee Day, a cafe pioneer in India, aims to list a 20 percent stake, raising roughly $200 million, within the next...

  • *Dollar index eases from previous day's 1- month high. Jan CPI, durables goods data raise rate-hike bets. LONDON, Feb 27- The dollar index fell on Friday amid month-end selling but was still on track for a record eighth month of gains on better data and comments from Federal Reserve officials that bolstered bets for a rate rise later this year.

  • Georgia's GDP growth slows to 0.5 pct in Jan yr/yr Friday, 27 Feb 2015 | 7:17 AM ET

    TBILISI, Feb 27- Georgia's gross domestic product growth slowed down to 0.5 percent in January 2015 from 7.8 percent a year ago, the National Statistics service said on Friday. Georgia has also suffered a decline in exports and foreign investment and the government deficit is rising. Georgia may halve its economic growth forecast for this year to 2.0-2.5...

  • Armenia's GDP growth slows to 3.4 pct in 2014 Friday, 27 Feb 2015 | 7:16 AM ET

    YEREVAN, Feb 27- Armenia's gross domestic product growth slowed to 3.4 percent in 2014 from 3.5 percent in 2013, and was down from an initially projected 5.2 percent, the National Statistics Service said on Friday. It also belongs to Russian President Vladimir Putin's Eurasian Union, a bloc he hopes will rival the European Union. The International Monetary Fund...

  • By Swati Pandey and Patturaja Murugaboopathy SYDNEY/ BANGALORE, Feb 27- Australia's retailers, hit by tight-fisted consumers as wages grow at their slowest since at least the late 1990 s, face a worsening downturn in revenue that bolsters the case for another interest rate cut next week by the central bank. Australia's 16 retailers with market capitalisation...

  • Egypt's Sawiris readies digital revamp for Euronews Friday, 27 Feb 2015 | 7:08 AM ET

    PARIS, Feb 27- Egyptian tycoon Naguib Sawiris, unveiling plans for his majority stake in European broadcaster Euronews, said on Friday a cash injection would be used to expand onto digital platforms and better promote the brand. Part of the family that founded Egypt's giant Orascom group, Sawiris said he planned to retain Lyon, France- based Euronews's...

  • BERLIN, Feb 27- Annual inflation in Germany is likely to remain low in February but it looks set to be higher than in January, when prices fell for the first time since 2009, data from some federal states suggested on Friday. Jennifer McKeown, senior European economist at Capital Economics, said the HICP reading in Germany, the bloc's largest economy, would likely...

  • BEIJING/ WASHINGTON, Feb 27- China is weighing a far-reaching counterterrorism law that would require technology firms to hand over encryption keys and install security "backdoors", a potential escalation of what some firms view as the increasingly onerous terms of doing business in the world's second largest economy. The initial draft, published by the...

  • LONDON, Feb 27- Copper fell on Friday following sharp increases in inventories, reigniting concerns about oversupply weighing on the market and giving bearish Chinese speculators a chance to resume selling. Copper has been recovering from 5-1/ 2 year lows touched last month, partly driven by heavy selling by Chinese hedge funds due to concern about demand in...

  • LONDON, Feb 27- German bond yields bounced off record lows on Friday after data from some pockets of the euro zone showed inflation prospects, although still subdued, may not be as bad as previously thought. Consumer prices in Spain fell 1.2 percent on an annual basis in January, compared with a fall of 1.3 percent in a Reuters poll. "It looks like inflation will remain...

  • LONDON, Feb 27- British Airways-owner International Airlines Group raised its 2015 profit forecast by more than 20 percent, outperforming struggling continental rivals and sending its shares to an all-time high. IAG, which is trying to acquire Ireland's Aer Lingus, said on Friday that the profit increase would be driven by cost control across the group and...

  • LONDON, Feb 27- Emerging market stocks dipped on Friday but were heading for their third weekly gain in the last four as investors positioned for an extended era of cheap money ahead of the European Central Bank's looming bond-buying scheme. "There a bit of market pressure on Turkey," said Aberdeen Asset Management portfolio manager Viktor Szabo.

  • LONDON, Feb 25- A portfolio manger at PIMCO, the world's biggest bond investor, said on Wednesday fewer banks would be available to execute deals for asset managers in two years times, as regulation reduces the trading capabilities of many market makers. A lot of highly professional and experienced traders are being let go, "said Alex Struc, an executive vice...

  • BERLIN, Feb 27- Germany's parliament approved an extension of Greece's bailout on Friday after Finance Minister Wolfgang Schaeuble, who has voiced doubts about whether Athens can be trusted, promised he would not let Greece "blackmail" its euro zone partners. "We Germans should do everything to keep Europe together as far as we can and bring it together again and...

  • *Gold up 0.3 pct on week, could end 4- week losing streak. LONDON, Feb 27- Gold edged down on Friday and was heading for its biggest monthly loss since September as European shares traded near seven-year highs and upbeat U.S. data supported expectations of a rate hike by the Federal Reserve this year. Gold has fallen more than 7 percent from a five-month high above...

  • * "Now we know China better," deputy PM says. KRASNOYARSK, Russia, Feb 27- Russia may consider allowing Chinese investors more than 50 percent stakes in its strategic oil and gas fields, an official said on Friday, an about-face by Moscow that underlines its need for foreign help to develop energy reserves. But now that Western sanctions over Moscow's role in Ukraine...

  • MOSCOW, Feb 27- Russia plans to spend more than $50 billion from its emergency Reserve Fund in 2015 as falling oil prices and a slumping economy cause the government's deficit to rise. First Deputy Finance Minister Tatiana Nesterenko said on Friday the government would ask parliament to allow the spending of up to 3.2 trillion roubles from the Reserve Fund in...