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Wires

  • SHANGHAI, Sept 25- Christie's sold nearly $15 million worth of art at its autumn auction in Shanghai on Sunday, with a painting by abstract master Zao Wou- ki fetching more than $5 million. Zao's " 24.12. 2002 Diptyque" sold for 33.6 million yuan, the most expensive work of art to be sold in Christies Shanghai. "We have presented both young and established artists to an...

  • BEIJING, Sept 25- The United States hopes there will be some "very good deliverables" when President Donald Trump visits China, U.S. Commerce Secretary Wilbur Ross told Chinese Premier Li Keqiang on Monday. Trump will likely visit China in November as part of a trip that will take him to an ASEAN summit in the Philippines and an APEC summit in Vietnam.

  • *Senate Finance Committee to hold hearing Monday. *Republican moderate worries about impact on Medicaid. Republican senators leading the effort plan to release a revised version of their bill that would send more money to Alaska and Maine, the states of two holdout senators, the Washington Post reported late on Sunday.

  • LONDON, Sept 25- Oil prices rose on Monday to their highest in seven months after major producers said at a meeting in Vienna the global market was well on its way towards rebalancing. The Organization of the Petroleum Exporting Countries, Russia and several other producers have cut production by about 1.8 million barrels per day since the start of 2017, helping...

  • *Madrid's IBEX underperforms as Catalonia weighs. LONDON, Sept 25- European shares edged higher in cautious trade on Monday after German Chancellor Angela Merkel secured a fourth term but saw her party weakened by a surge in support for the far-right. European bourses were mixed, with France's CAC 40 down 0.1 percent, Germany's DAX up 0.3 percent and Milan flat.

  • BEIJING, Sept 25- The growth of China's overall leverage ratio has been clearly slowing and is now stabilizing, the state planner said on Monday, days after S&P downgraded the country's sovereign debt rating. The NDRC cited the latest data from the Bank of International Settlements which showed China's overall leverage ratio is still growing, but at a slightly...

  • BEIJING, Sept 25- The growth of China's overall leverage ratio has been clearly slowing and is now stabilising, the state planner said on Monday, days after S&P downgraded the country's sovereign debt rating. The NDRC cited the latest data from the Bank of International Settlements which showed China's overall leverage ratio is still growing, but at a slightly...

  • fears@ BUDAPEST, Sept 25- The forint and zloty eased slightly on Monday ahead of a central bank liquidity tender in Budapest and on worries over Poland's judicial reforms, which have been criticised by European Union partners. Polish President Andrzej Duda is set to unveil his own proposals on Monday, which may be different from previously announced government...

  • JOHANNESBURG, Sept 25- South Africa's finance ministry said on Monday it did not request a government pension fund to provide 100 billion rand to help it bail out struggling state firms, calling any reports to that effect "malicious and unconstructive." Citing people familiar with the matter, Bloomberg reported on Friday that the Treasury needed at least 100...

  • *Euro weakens as Germany's Merkel faces fractured parliament. LONDON, Sept 25- Gold eased on Monday as the prospect of a fractured parliament in Germany following Chancellor Angela Merkel's less than resounding election victory over the weekend knocked the euro lower. "If the dollar continues to rally and North Korea stays quiet, gold can continue to fall," David...

  • *Flying to Brazil and Seychelles in summer 2018. It will then fly to Fortaleza in Brazil and the Seychelles from the end of March 2018. Single fares to the European cities will start from 39 euros, while fares to Brazil and the Seychelles will range from 249- 299 euros respectively.

  • *Tokyo Governor Koike launches new "Party of Hope". TOKYO, Sept 25- Japanese Prime Minister Shinzo Abe said he would dissolve parliament's lower house on Thursday for a snap election, as he seeks a fresh mandate to overcome "a national crisis". Abe, in power for five years, said he needed a mandate to shift some revenues from a planned future tax hike to social spending...

  • BRUSSELS— The European Union has ended its procedures meant to force Greece to reduce its deficit as the country gets its books back in order despite being mired in debt. EU headquarters said Monday that Greece's "deficit is now below 3 percent of GDP," the ceiling for European government deficits. Estonian Finance Minister Toomas Toniste said that "after many...

  • WASHINGTON— Poised to reveal a tax plan that is a pillar of "his economic policy and delivering on a campaign pledge, President Donald Trump is promising" The largest tax cut in the history of our country. He said the tax plan that the White House and Capitol Hill Republicans have been working on for months is "totally finalized. "He was speaking on the tarmac at the...

  • COPENHAGEN, Sept 25- Payments firm Nets on Monday welcomed a 33.1 billion Danish crown bid from U.S. firm Hellman& Friedman, marking what could be one of the largest European private equity takeovers in recent years. The Danish firm was taken public in Copenhagen a year ago and was valued at 30 billion crowns, or 150 crowns per share, double what Advent International,...

  • OSAKA, Sept 25- Bank of Japan Governor Haruhiko Kuroda said on Monday there were limits to how much central banks can deepen negative interest rates, highlighting the need to maintain the BOJ's current ultra-loose policy to continue pushing up inflation. He also warned that North Korea posed a risk to an otherwise brightening global economic outlook,...

  • NAIROBI/ LONDON, Sept 24- New laws and a crackdown on mining firms in Tanzania has slowed fresh investment in what has long been seen as one of Africa's brightest mining prospects as companies assess the consequences of government efforts to claim a bigger slice of the pie. The share prices of many firms listed in Australia, Britain, South Africa and Canada with...

  • LONDON, Sept 25- Emerging equities hit two-week lows on Monday, weighed down by global politics, the prospect of higher U.S. interest rates, a retreat in tech stocks and weak Chinese property shares. Falls were led by bourses in Asia, where heavyweight Hong Kong tumbled 1.3 percent and Chinese mainland stocks fell 0.5 percent led by property firms after some cities...

  • *ECB members including Mario Draghi due to speak on Monday. LONDON, Sept 25- Southern European government bonds underperformed on Monday after an unexpectedly weak election result for Germany's Angela Merkel led to concerns about the emergence of a more hardline stance towards the euro zone in the bloc's largest economy. "In exchange for debt relief, the FDP...

  • FRANKFURT, Germany— A closely watched survey says German business optimism took a dip in September ahead of federal elections and amid concerns about a stronger euro. Stephen Brown, European economist at Capital Economics, says the stronger euro may have weighed on sentiment. The euro has risen to around $1.20 from $1.05 at the start of the year.