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  • LONDON, Feb 19- Petroleum markets were hit by a heavy bout of profit-taking in the second week of February as hedge funds liquidated some of the record long positions they accumulated over the previous seven months. Hedge funds and other money managers cut their combined net long position in the six most important petroleum futures and options contracts by the...

  • LONDON, Feb 19- Global banking regulators signaled on Monday they were in no rush to adapt their rules to financial technology firms that have begun nibbling away at banks' markets. The regulators looked at how fintechs could disrupt banks' business models by offering payments services, crowdfunding, mobile banks and online trading. "Despite the hype, the large...

  • MOSCOW, Feb 19- Russian billionaire Oleg Deripaska plans to step down as the president of the two companies he controls- aluminum giant Rusal and En+ Group, two sources familiar with the matter told Reuters. En+ has invited international banks to pitch for the sale of $1 billion of shares in the company, three sources told Reuters last week. Deripaska's En+ owns assets...

  • SINGAPORE, Feb 19- Singapore's move on Monday to raise stamp duty on expensive home purchases is likely to dampen the recent wave of redevelopment sales in the city-state's recovering property market, analysts said. Singapore's central bank warned in November about "excessive exuberance" in the city-state's property market, urging developers to take into...

  • MUMBAI/ NEW DELHI, Feb 19- India's government has said the $1.77 billion fraud at state-run Punjab National Bank was a "manifestation of supervisory failure" at the country's central bank, local media reported on Monday. In a letter to the Reserve Bank of India, the government said the failure to detect the fraud, the biggest ever in India's banking sector, raised...

  • Feb 16- Global inflation is finally on the rise, the bond market has apparently declared, but the data do not yet point firmly to that conclusion, suggesting the low trend in place since the financial crisis may linger for a while. What the U.S. bond market appears to be reacting to as well is a different kind of worry: trillions of dollars worth of extra debt supply to...

  • Feb 16- Global inflation is finally on the rise, the bond market has apparently declared, but the data do not yet point firmly to that conclusion, suggesting the low trend in place since the financial crisis may linger for a while. What the U.S. bond market appears to be reacting to as well is a different kind of worry: trillions of dollars worth of extra debt supply to...

  • Feb 16- Global inflation is finally on the rise, the bond market has apparently declared, but the data do not yet point firmly to that conclusion, suggesting the low trend in place since the financial crisis may linger for a while. What the U.S. bond market appears to be reacting to as well is a different kind of worry: trillions of dollars worth of extra debt supply to...

  • Feb 16- Global inflation is finally on the rise, the bond market has apparently declared, but the data do not yet point firmly to that conclusion, suggesting the low trend in place since the financial crisis may linger for a while. What the U.S. bond market appears to be reacting to as well is a different kind of worry: trillions of dollars worth of extra debt supply to...

  • *Italy the laggard, traders cite election jitters. Greece was the exception following news on Friday that Fitch had upgraded Greece's long-term rating to' B' from' B-' and kept its outlook positive despite its debts. Sentiment has been boosted by expectations that Greece will exit its latest bailout in August and get debt relief from its international creditors.

  • BAKU, Feb 19- The first phase of the Southern Gas Corridor pipeline from Azerbaijan to Europe will open in July and could be expanded after it becomes fully operational in 2020, Azeri state energy company SOCAR said. SGC's three pipelines- the Trans-Adriatic Pipeline, the South Caucasus Pipeline through Georgia and the Trans-Anatolian Pipeline through...

  • SINGAPORE, Feb 19- Singapore said its sales tax will rise to 9 percent from 7 percent, but the change will only come "sometime" between 2021 and 2025, making it likely that the increase would kick in after the city-state's next general election. The bonus comes after Singapore's trade-reliant economy grew 3.6 percent in 2017, its best pace in three years.

  • LAUNCESTON, Australia, Feb 19- What do the moves by the Democratic Republic of the Congo to boost its share of the country's cobalt bounty have in common with the former Thai government's attempts to control the global market for rice exports? It's also likely that similar to the ultimate disaster that befell ousted Thai prime minister Yingluck Shinawatra, the...

  • "There's no question about the fact that there is a need for a regulatory framework," said Republican Senator Mike Rounds, a Senate Banking Committee member. Digital assets currently fall into a jurisdictional gray area between the Securities and Exchange Commission, the Commodity Futures Trading Commission, the Treasury Department, the Federal Reserve and...

  • LONDON, Feb 19- Petroleum markets were hit by a heavy bout of profit-taking in the second week of February as hedge funds liquidated some of the record long positions they accumulated over the previous seven months. Hedge funds and other money managers cut their combined net long position in the six most important petroleum futures and options contracts by the...

  • NEW DELHI, Feb 19- Hackers who tried to steal nearly $2 million from India's City Union Bank this month used tactics similar to those employed in the unsolved cyber heist of $81 million from Bangladesh's central bank in 2016, City's CEO said on Monday. In the case of Bangladesh Bank, hackers infected the system with malware that disabled the SWIFT printer.

  • RIGA, Feb 19- Latvia's anti-corruption authority said on Monday it had detained central bank governor Ilmars Rimsevics over the weekend for demanding a bribe. "The criminal procedure is about demanding a bribe of no less than 100,000 euros," Jekabs Straume, the head of Latvia's Corruption Prevention and Combating Bureau told reporters at a news conference.

  • LONDON, Feb 19- Britain's government is setting out what it wants to achieve from its future partnership with the European Union, Prime Minister Theresa May's spokesman said on Monday, countering criticism that ministers are still divided over Brexit.

  • *Aker aims to build significant oil business in Ghana. OSLO, Feb 19- Norwegian billionaire Kjell Inge Roekke's Aker Energy plans "significant" oil exploration and production in Ghana after a $100 million deal to buy Hess Corporation's business there. "Ghana is still in the early days of developing its oil and gas resources, so for us, it means we can quickly build up...

  • *Speculators cut net gold longs in the week to Feb. 13. LONDON, Feb 19- Gold prices were mostly flat on Monday as the dollar clawed back some recent losses and stocks rose, but U.S. inflation fears kept buyers in the metal. Spot gold was flat at $1,347.31 an ounce at 1124 GMT.