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  • BRIEF-Russia's VTB hopes to make small profit for 2015 Tuesday, 18 Aug 2015 | 6:03 AM ET

    BRIEF- RUSSIA'S VTB HOPES TO MAKE SMALL PROFIT FOR 2015@. Aug 18- VTB Chief Financial Officer Herbert Moos told a conference call:. *Ukraine business didn't have material effect on H1 results; doesn't expect it to seriously affect full-year results.

  • LONDON, Aug 18- Gold traded little changed on Tuesday, as investor focus shifted back to the prospect of a rate rise by the Federal Reserve. Gold snapped a seven-week losing streak and scaled a three-week high of $1,126.31 last week after China's devaluation of its yuan fueled some speculation that the Fed could hold off on raising interest rates this year.

  • *VTB Bank has not reached a final agreement with mining company Mechel over restructuring of its debt, VTB Chief Financial Officer Herbert Moos told a conference call.

  • LONDON, Aug 18- A 6 percent drop in Chinese stocks on Tuesday drove currency investors into safe-haven currencies such as the yen and the Swiss franc, albeit in thin volumes. That bolstered expectations that the Bank of England will raise interest rates in coming months and helped sterling gain 0.6 percent against the dollar and the euro. Earlier, China's main...

  • ATHENS, Aug 18- Greeks can now transfer up to 500 euros abroad and pay more towards tuition fees under a new incremental easing of capital controls imposed in June to prevent an implosion of the country's banking system. Under a ministerial decree issued in the Official Gazette, bank accounts can be opened for debt repayments, while up to 8,000 euros for student...

  • *China stock markets plunge on economic worries. LONDON, Aug 18- U.S. oil prices fell towards six-year lows on Tuesday after stock markets tumbled in China, the world's largest energy consumer, adding to worries about global fuel demand at a time of heavy oversupply. U.S. crude futures were 35 cents weaker at $41.52 a barrel by 0850 GMT, close to their lowest since...

  • The move would be a significant demotion for Yakunin who has headed Russian Railways- a huge state corporation with more than $40 billion in annual sales- for ten years and known Putin since they founded an elite housing cooperative together in St Petersburg in the 1990 s. He will represent Russia's Kaliningrad region- an exclave sandwiched between Poland and...

  • COLOMBO, Aug 18- Former president Mahinda Rajapaksa's attempt to stage a comeback in Sri Lanka's general election has ended in defeat as results on Tuesday showed the alliance that toppled him making decisive gains. The ruling United National Party was likely to fall just short of an outright majority but Prime Minister Ranil Wickremesinghe should still...

  • China's yuan ends flat as market awaits trading clues Tuesday, 18 Aug 2015 | 4:46 AM ET

    HONG KONG, Aug 18- China's yuan closed flat against the dollar on Tuesday after the central bank set a slightly stronger midpoint as the market awaited clues of future yuan movements. The People's Bank of China set the midpoint at 6.3966 per dollar prior to market open, weaker than the previous day's closing quote of 6.3947. Morgan Stanley revised down its USD/CNY...

  • Tianjin blast to strain Chinese insurers - Fitch Tuesday, 18 Aug 2015 | 4:40 AM ET

    *Regional insurers to bear brunt of Tianjin claims. FRANKFURT, Aug 18- Insurance claims from devastating explosions at the Chinese port of Tianjin last week could exceed initial estimates and strain the finances of regional insurers, credit rating agency Fitch said on Tuesday. PICC Property and Casualty Company, Ping An Property& Casualty Insurance Company of...

  • LONDON, Aug 18- Stocks fell on Tuesday, with European markets buckling under heavy selling pressure carried over from Asia after Chinese shares slumped 6 percent and emerging market currencies and oil prices remained anchored at historic lows. "European equity markets are taking their cues from China, and traders' suspicion is that the second largest economy...

  • *Wirecard, Jyske Bank, L&S get results lift. LONDON, Aug 18- European equities opened slightly lower on Tuesday, with a buoyant set of corporate results offset by weak trade in Asia and a fall in commodities prices amid worries over China's growth outlook. Traders said volumes were relatively muted in Europe, with surprisingly weak U.S. data released on Monday also...

  • MELBOURNE, Aug 18- London copper subsided to fresh six-year lows near $5,000 a tonne on Tuesday, as sentiment worsened over China's economy, hitting demand already struggling due to slow summer factory activity and a stronger dollar. "Overall, there's no sign of positive news flow on the demand side for copper from China," said analyst Helen Lau of Argonaut...

  • LONDON, Aug 18- The dollar edged up on Tuesday, as focus shifted back to the prospect of the Federal Reserve raising interest rates and concerns eased that last week's devaluation of China's yuan could spark a global currency war. The data is likely to highlight subdued price pressures amid falling oil prices, and could raise doubts over when the Bank of England...

  • HONG KONG, Aug 18- Chinese stocks plunged on Tuesday as the yuan weakened against the dollar, reigniting fears that Beijing may be intent on a deeper devaluation of the currency despite the central bank's comments that it sees no reason for a further slide. Volatility in both indexes spiked in the afternoon in what is becoming a mysteriously recurring pattern in...

  • Bangkok blast threatens renewed pain for Thai economy Tuesday, 18 Aug 2015 | 3:27 AM ET

    BANGKOK, Aug 18- A bomb that ripped through a religious shrine in Bangkok's commercial heart, killing 22 people and wounding more than 100, could deal a heavy blow to a tourism sector that has been one of the few recent bright spots for Thailand's struggling economy. "Our Japanese customers have all checked out this morning and bookings have also been cancelled,"...

  • SINGAPORE, Aug 18- U.S. oil prices fell to their lowest in more than six years on Tuesday as traders braced for lower refinery consumption after the U.S. summer, while Asia's weakening economies and high global production stoked concerns about oversupply. BMI Research, a subsidiary of Fitch Ratings, said the market may have overshot to the downside, expecting a...

  • *Would be blow to key exporters Malaysia, Indonesia. NEW DELHI, Aug 18- India plans to spend $1.5 billion in the next three years to help farmers grow oil palm trees in an area the size of New Jersey, government sources said, with Prime Minister Narendra Modi pushing to make the nation self-sufficient in edible oils this decade. A successful Indian push into palm...

  • MOSCOW, Aug 18- Russia's second-largest bank VTB made net profit of 1.2 billion roubles in the second quarter, snapping a loss-making streak as a recovery in its interest margin and lower loan-loss provisions supported its bottom line. VTB has seen its profits evaporate as an economic downturn has caused a spike in bad loans and as Western sanctions over...

  • BEIJING, Aug 18- Chinese home prices rose for a third consecutive month in July, fuelled by a pick-up in sales and market sentiment, a rare counterpoint to a growing list of grim indicators in the world's second-largest economy. Average new home prices rose 0.3 percent in July versus June, according to Reuters calculations based on data released by the National...