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Wires

  • CAIRO, May 23- Egypt expects to raise EGP 7.2 billion through an initial public offering of Banque Du Caire by 2018, according to a draft budget for the 2017-18 fisal year posted on the finance ministry's website on Tuesday.

  • The number of homes sold rose to 1,638 from 1,304 in the quarter ended April 30. However, Toll Brothers said the average price of homes sold decreased to $832,400 from $855,500 a year earlier, partly as it rolled out a new line of lower priced homes, T-Select, to cater to millennials who are now entering their thirties and starting families. The Horsham, Pennsylvania-...

  • *Google wooing Beijing as it aims for China return. BEIJING, May 23- A Google artificial intelligence program defeated a Chinese grand master at the ancient board game Go on Tuesday, a major feather in the cap for the firm's AI ambitions as it looks to woo Beijing to gain re-entry into the country. Google pulled its search engine from China seven years ago after it...

  • LONDON, May 23- Nokia shares jumped more than 6 percent on Tuesday to their highest levels in more than a year, joined by a rise in banking stocks which helped European stock markets edge higher. Germany's DAX was up 0.3 percent while euro zone blue chips gained 0.6 percent. "It's a kind of risk-on environment, and Europe's benefits- relatively low currency, a...

  • LONDON, May 23- Emerging markets slipped on Tuesday after weaker Chinese import data hinted at economic slowdown in the world's second-largest economy and Brazil, in political turmoil, was threatened with a credit ratings downgrade. Brazil's real steadied after Monday's fall whilst the Europe- listed Brazil exchange traded fund DBX MSCI Brazil rose 2.7...

  • BEIJING, May 23- China's imports of North Korean goods in April fell below $100 million to the lowest in nearly three years, data showed on Tuesday, after China stopped buying coal from the isolated country and as calls mount for further economic sanctions. Neighbouring China is North Korea's biggest trade partner, and the data indicates that China's halt of...

  • PARIS, May 23- The head of France's biggest moderate trade union, CFDT, said on Tuesday he had told President Emmanuel Macron in talks not to try to rush through his labor reform plans this summer. Laurent Berger told journalists he had urged the newly-elected Macron in talks to "leave enough time for dialog" with the unions. "I asked him not to do it hurriedly, to do it...

  • PARIS, May 23- The head of France's biggest moderate trade union, CFDT, said on Tuesday he had told President Emmanuel Macron in talks not to try to rush through his labour reform plans this summer. Laurent Berger told journalists he had urged the newly-elected Macron in talks to "leave enough time for dialogue" with the unions. "I asked him not to do it hurriedly, to do it...

  • HELSINKI— Nokia and Apple have settled their numerous legal disputes after signing an agreement to work together. Nokia, once the world's No. 1 cellphone maker and now a networks provider after selling its ailing mobile phone sector to Microsoft in 2014, described the pact as "meaningful." Maria Varsellona, Nokia's chief legal officer said the agreement "moves...

  • EGYPT AIMS TO RAISE 7.2 BILLION EGYPTIAN POUNDS IN INITIAL PUBLIC OFFERING OF BANQUE DU CAIRE IN 2017-2018- BUDGET DRAFT.

  • HORSHAM, Pa. _ Toll Brothers Inc. on Tuesday reported fiscal second-quarter earnings of $124.6 million. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share. Toll Brothers shares have climbed 23 percent since the beginning of the year.

  • TOKYO, May 23- Japan must adhere to the government's goal to achieve a balanced budget by the fiscal year ending in March 2021, Finance Minister Taro Aso said, in a resolve to push for fiscal consolidation to fix the country's tattered finances. We are not allowed to take down the flag, "Aso said in a document submitted to the Council of Economic and Fiscal Policy.

  • FRANCE'S TRADE UNION CFDT SAYS IT URGES MACRON IN TALKS NOT TO PUSH HIS PROPOSED LABOUR REFORMS TOO HURRIEDLY, ALLOW TIME FOR FURTHER DISCUSSION.

  • And the good economic news could well add pressure on the European Central Bank to signal a withdrawal of its extraordinary stimulus measures. One of the indicators the ECB looks at when assessing its policy stance is the monthly survey of business activity from financial information company IHS Markit. Chris Williamson, IHS Markit's chief economist, says...

  • May 23- U.S. luxury homebuilder Toll Brothers Inc reported a 40 percent rise in quarterly profit, boosted by an increase in home sales. The company said its net income rose to $124.6 million, or 73 cents per share, in the second quarter ended April 30 from $89.1 million, or 51 cents per share, a year earlier. Revenue rose 22.2 percent to $1.36 billion.

  • *France election result viewed as major relief. BERLIN, May 23- German business morale brightened more than expected in May to hit its highest level on record since 1991, a survey showed on Tuesday, with the election of Emmanuel Macron as French president viewed as a major relief for Europe's largest economy. France is Germany's second-most important single...

  • HELSINKI, May 23- Nokia has settled its legal battle with Apple with a new patent licence agreement and also signed a business deal with the U.S. giant, surprising investors who had expected the dispute to drag on. Nokia shares, which fell in December when the patent dispute was announced, jumped as much as 8 percent to their highest since February 2016 and were 6.5...

  • *Market value shrivels to $400 mln from $6 bln in Feb 2015. SINGAPORE, May 23- Noble Group's troubles worsened after S&P warned of a risk the struggling commodity trader won't pay its debt and as sources told Reuters a potential investor backed out, triggering a one-third fall in its shares and a dip in its bonds. Citing sources, Reuters reported on Monday that...

  • LONDON, May 23- Sterling slipped against the dollar on Tuesday, with a suicide bombing in the English city of Manchester and concerns over the ruling Conservative Party's campaign for next month's election putting the currency on the defensive. The pound fell as low as $1.2954 in morning trade in London, down 0.3 percent on the day, before recovering to trade only...

  • LONDON, May 23- Sterling slipped against the dollar on Tuesday, with a suicide bombing in the English city of Manchester and concerns over the ruling Conservative Party's campaign for next month's election putting the currency on the defensive. The pound fell as low as $1.2954 in morning trade in London, down 0.3 percent on the day, before recovering to trade only...