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  • LONDON, Feb 22- This week saw the first outflows from emerging market debt and equity funds since October 2018, Bank of America Merrill Lynch strategists said on Friday, citing EPFR data. In the week to February 20, EM equity funds saw $0.5 billion outflows and EM debt funds lost $39 million. Overall flows showed a creeping risk aversion from investors facing a...

  • LONDON, Feb 22- Britain's Metro Bank, Starling Bank and ClearBank have been granted a total of 280 million pounds from a fund that aims to boost competition in lending to small firms. After assessing bids for the funds, the BCR said it awarded Metro Bank 120 million pounds, Starling Bank 100 million pounds and ClearBank 60 million pounds. "It's a relief to see this...

  • Japan's Financial Services Agency is the only major national regulator so far to have drawn up a definitive framework to govern digital assets and the platforms where they are traded. In January, OKC Holdings, a company controlled by Star Xu, the founder of crypto-exchange OK Coin, bought 60.5 percent of LEAP Holdings,, a Hong Kong- listed construction firm, for HK...

  • LONDON, Feb 22- The euro dipped on Friday after a survey showed German business morale fell for the sixth month in a row, while the Australian dollar rebounded after China denied it had banned imports of the country's coal. It hit a two-week high of $1.1371 on Wednesday, helped by hopes for an easing of the U.S.- China trade conflict. "In the end, it is mainly the prospect...

  • Feb 22- Gold held steady on Friday, on course for its second straight weekly gain, with weak economic data from the United States compounding worries about a global slowdown while investors await concrete signals on U.S.- China trade talks. Spot gold was little changed at $1,322.06 per ounce as of 1038 GMT. The U.S. unit, which was increasingly sought as a refuge for...

  • MOSCOW, Feb 22- Russia's Agriculture Ministry expects a new association of grain exporters to become a strong union and has no plan to exclude foreign trade houses, a ministry official and a source said, responding to concerns the new body could lack independence. "We expect the grain market will soon see the establishment of a strong association that...

  • Feb 22- Canada's Magna International Inc beat analysts' estimates for quarterly profit on Friday as the auto parts maker assembled more vehicles, benefiting from new launches by car makers Jaguar Land Rover and Daimler AG. The company partnered with ride-hailing company Lyft Inc last March, to co-develop hardware and software for self-driving cars.

  • BERLIN, Feb 22- German carmakers Daimler and BMW unveiled a joint ride-hailing, parking and electric car charging business on Friday to compete with mobility services provided by Uber and other tech firms. China's Didi Chuxing aims to build its business in Latin America and Uber is gaining a stranglehold on its U.S. market. "Further cooperation with other...

  • NEW YORK, Feb 22- JPMorgan Chase& Co is tearing down walls and moving its San Francisco investment bankers onto "hot desks," a space-saving layout that has long been a fixture at tech companies, while redesigning offices in Dallas and other cities. When JPMorgan renovated two floors at its Mission Street office in San Francisco last month, it replaced many offices...

  • LONDON, Feb 22- Oil prices were firm on Friday, supported by OPEC's ongoing supply cuts and hopes that Washington and Beijing may soon end their trade dispute. International Brent crude futures were at $67.18 per barrel at 1019 GMT, 8 cents above their last close, but below $67.38 per barrel reached earlier this week. Traders said prices were lifted by hopes that...

  • LONDON, Feb 22- This week saw the first outflows from emerging market debt and equity funds since October 2018, Bank of America Merrill Lynch strategists said on Friday, citing EPFR data. But in the week to February 20, EM equity funds saw $0.5 billion outflows and EM debt funds lost $39 million. Credit drew inflows with $2.3 billion going into investment-grade bond...

  • HARARE, Feb 22- Zimbabwe's central bank began trading a sharply discounted replacement currency on Friday, attempting to ease a cash crunch that has hobbled the economy and plunged millions deeper into poverty. The Reserve Bank of Zimbabwe said on Wednesday it would scrap the official 1: 1 peg between its quasi-currency bond note and the U.S. dollar, creating a...

  • President Donald Trump and North Korean leader Kim Jong Un will hold their second summit in the Vietnamese capital of Hanoi on Feb 27-28. Holding a signing ceremony during Trump's visit would help emphasise strengthening economic and military ties between the United States and Vietnam. President Barack Obama visited Hanoi in 2016..

  • SINGAPORE, Feb 22- Asia's cash discounts for 10 ppm gasoil narrowed on Friday amid a demand uptick in the Singapore physical market, while the front-month spread returned to a backwardated structure after more than three months. Cash differentials for the benchmark gasoil grade were at a discount of 31 cents a barrel to Singapore quotes on Friday, compared with...

  • Feb 22- Canada's Magna International Inc beat analysts' estimates for quarterly profit on Friday, benefiting from its complete vehicles segment and power and vision unit which contains its electric vehicle investments. It also set up two joint ventures last summer with Beijing Electric Vehicle Co, China's largest electric car maker, to engineer and build EVs...

  • Feb 21- Shares of Kraft Heinz Co slumped 20 percent late on Thursday after the food company posted a quarterly loss, disclosed an SEC investigation and wrote down the value of its iconic Kraft and Oscar Mayer brands as it highlighted the tough environment for the packaged food industry. "Kraft Heinz results confirmed all our worst fears plus more," Guggenheim...

  • BEIJING, Feb 22- State-owned oil company Saudi Aramco signed a $10 billion deal to build a refining and petrochemical complex in China on Friday, as Saudi Crown Prince Mohammed bin Salman wrapped up a two-day trip to Beijing. The crown prince will meet President Xi Jinping, who has made stepping up China's presence in the Middle East a key foreign policy objective,...

  • LONDON, Feb 22- Europe's main benchmarks barely budged on Friday but company results including Sweden's Elekta, Switzerland's Sika and France's Sopra Steria drove big swings in stocks as investors awaited news from crucial U.S.- China trade talks. The STOXX 600 and Germany's DAX were up 0.1 and 0.2 percent by 0930 GMT, with the main action at the share level.

  • *FTSE 100 up 0.2 pct. *FTSE 250 up 0.3 pct. The FTSE 100 rose 0.2 percent by 0949 GMT but still looked set for losses on the week.

  • Feb 22- Canada's Magna International Inc reported an 18.4 percent drop in quarterly profit on Friday, as the world's third-biggest auto parts supplier by sales was hit by tepid demand from China and Europe. Net income attributable to Magna fell to $456 million, or $1.37 per share, in the fourth quarter ended Dec. 31 from $559 million, or $1.54 per share, a year earlier.