Wires

  • CAIRO, Jan 23- Centamin Plc, which runs Egypt's only commercial gold mine, said it would not bid in the country's new gold exploration tender because the terms are not commercially viable. Egypt, which is hoping that gold production can be a future source of growth for its struggling economy, began accepting bids last week for five concessions in its first tender...

  • *OPEC, non- OPEC ministers say complying with output cuts. LONDON, Jan 23- Oil prices fell one percent on Monday as signs of a strong recovery in U.S. oil drilling activity outweighed news that OPEC and non- OPEC producers were on track to meet output reduction goals set in December. Ministers representing members of the Organization of the Petroleum Exporting...

  • Dubai- based Emirates already operates four daily flights to John F. Kennedy International Airport in New York, including one with a stop off in Milan. "We look forward to briefing President-elect Donald Trump and his new administration on the massive, unfair subsidies that the UAE and Qatar give to their state-owned Gulf carriers," said Jill Zuckman, chief...

  • BERLIN, Jan 23- Chancellor Angela Merkel's cabinet is expected to approve a measure on Wednesday to close a tax loophole used by foreign companies operating in Germany, according to legislation drafted by finance ministry and viewed by Reuters on Monday. The legislation, which would still need approval by the German parliament, is expected to take effect from...

  • CHICAGO— United Airlines says six flights were cancelled and 200 more were delayed because of a computer problem that forced a ground stop for all domestic flights that lasted about 2 ½ hours Sunday. Company spokeswoman Maddie King calls the glitch an "IT issue." Chicago- based United Airlines and United Express operate more than 4,500 flights a day to 339...

  • NEW DELHI, Jan 23- India's Supreme Court on Monday rejected a petition to delay the annual federal budget, which Finance Minister Arun Jaitley is scheduled to deliver on Feb. 1, dismissing concerns about potential giveaways ahead of critical state polls. A panel headed by Chief Justice J.S. Khehar found no merit in a public interest litigation by lawyer M.L. Sharma,...

  • *Beijing has relied on govt spending to stabilize growth. BEIJING, Jan 23- China had a significantly larger fiscal deficit in 2016 than it targeted, according to a Reuters calculation based on preliminary data released on Monday by the Finance Ministry. China had budgeted for a deficit last year of 2.18 trillion yuan- equivalent to 3 percent of GDP.

  • *OPEC, non- OPEC ministers say complying with output cuts. LONDON, Jan 23- Oil prices fell one percent on Monday as signs of a strong recovery in U.S. oil drilling activity outweighed news that OPEC and non- OPEC producers were on track to meet output reduction goals set in December. Ministers representing members of the Organization of the Petroleum Exporting...

  • LONDON, Jan 23- Emerging stocks gained and Mexico's peso led a currencies rally on Monday as markets took a breather following Donald Trump's inauguration as U.S. president, but Turkey's lira remained under pressure ahead of a crucial central bank meeting. MSCI's emerging markets index snapped a two-day losing streak to rise 0.6 percent, lifted by bourses in...

  • LONDON, Jan 23- Copper rose more than 1 percent on Monday, buoyed by dollar weakness and hopes that U.S. Three-month copper on the London Metal Exchange was up 1.1 percent at 1030 GMT at $5,812 a tonne. "What's helping copper is clearly the weaker dollar, and hopes that we'll get tax cuts, fiscal spending and infrastructure spending in the United States," Societe...

  • WARSAW, Jan 23- Poland's exports, which are included in calculating gross domestic product, were overestimated in 2015 and 2014 by as much as 30 billion zlotys each year due to tax scams, Finance Minister Mateusz Morawiecki said. A revision could affect GDP growth data for 2016 due to the base effect, as well as data showing the level of Poland's deficit and debt in...

  • LONDON, Jan 23- Britain is to adopt an interventionist approach to balancing its heavily services-based economy for the post-Brexit era, aiming to reinvigorate industrial production and stimulate investment in technology and R&D. "The modern industrial strategy will back Britain for the long term: creating the conditions where successful businesses can...

  • *Trump's protectionist comments push stocks to 2017 low. LONDON, Jan 23- European stocks and bond yields dropped on Monday and the dollar hit a six-week low after U.S. He also made it clear that he plans to hold talks with the leaders of Canada and Mexico to begin renegotiating the North American Free Trade Agreement.

  • *Ceri Powell to be replaced by Marc Gerrits- company. LONDON, Jan 23- Royal Dutch Shell's head of exploration Ceri Powell will step down next month, capping seven years in the role marked by sharp cutbacks in the company's search for new oil and gas reserves amid the industry's deep downturn since mid-2014. Her departure is part of a broad reshuffle of senior...

  • WARSAW, Jan 23- Poland's exports, which are included in calculating gross domestic product, were overestimated in 2015 and 2014 by as much as 30 billion zlotys each year due to tax scams, Finance Minister Mateusz Morawiecki said.

  • Dubai- based Emirates already operates four daily flights to John F. Kennedy International Airport in New York, with a stop off in Milan. "We look forward to briefing President-elect Donald Trump and his new administration on the massive, unfair subsidies that the UAE and Qatar give to their state-owned Gulf carriers," said Jill Zuckman, chief spokesperson for the...

  • LONDON— Britain's Supreme Court will rule Tuesday on whether the prime minister or Parliament has the right to trigger the process of taking Britain out of the European Union. Article 50, which has never been used before, starts the formal process of taking Britain out of the 28- nation EU bloc, a move favored by 52 percent of voters in the June referendum that has...

  • SINGAPORE, Jan 23- Siam Commercial Bank Pcl has begun to formally seek bids for its life insurance business in a sale that could raise about $3 billion for Thailand's third-biggest lender, said people with knowledge of the process. Thailand caps foreign companies' stakes in domestic insurance ventures at 49 percent, but may permit higher holdings on a...

  • THAILAND'S SIAM COMMERCIAL BANK FORMALLY SEEKS BIDS FOR AS MUCH AS 100 PCT OF ITS SCB LIFE BUSINESS.

  • SEOUL, South Korea— Samsung Electronics says flaws in the design and production of batteries used in its Galaxy Note 7 smartphone, not its hardware or software, made it prone to catch fire. Samsung said Monday that it was responsible for not ensuring the design specifications given to its suppliers were failsafe but believed its investigation into the problem...