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BUDAPEST (Reuters) - Hungarian Prime Minister Viktor Orban said on Saturday that Europe was "indirectly at war with Russ...
19/02/2023

BUDAPEST (Reuters) - Hungarian Prime Minister Viktor Orban said on Saturday that Europe was "indirectly at war with Russia" as several European countries pledge to send battle tanks to help Ukraine fight Moscow's invasion.

Nationalist Orban, who was reelected in 2022 for a fourth consecutive term, reiterated that being a NATO member was "vital" for Hungary, but said his government would not send arms to Ukraine or sever its economic relations with Moscow

BRUSSELS (Reuters) -Hungary must bolster the independence of its judiciary "very soon" to stand a realistic chance of ge...
19/02/2023

BRUSSELS (Reuters) -Hungary must bolster the independence of its judiciary "very soon" to stand a realistic chance of getting any of the 15.4 billion euros envisaged for Budapest from the European Union's COVID recovery stimulus, a senior EU official said.

Hungary can receive some 5.8 billion euros ($6.20 billion) in free grants and a further 9.6 billion euros in cheap loans from the EU, but the bloc has suspended any payments until Budapest implements reforms to improve judicial independence and tackle corruption.

African countries are getting a raw deal from the international financial system which charges them "extortionate" inter...
18/02/2023

African countries are getting a raw deal from the international financial system which charges them "extortionate" interest rates, the U.N. chief said on Saturday, as he announced $250 million in crisis funding, including for famine risk on the continent.
The United Nations Secretary-General Antonio Guterres wants far-reaching reforms to the structure of international finance to serve the needs of developing countries more efficiently, he told the opening ceremony of the annual African Union summit in Ethiopia.

Hungary must bolster the independence of its judiciary "very soon" to stand a realistic chance of getting any of the 15....
18/02/2023

Hungary must bolster the independence of its judiciary "very soon" to stand a realistic chance of getting any of the 15.4 billion euros envisaged for Budapest from the European Union's COVID recovery stimulus, said a top official in the bloc.
Hungary can get some 5.8 billion euros ($6.20 billion) in free grants and another 9.6 billion euros in cheap loans from the EU but the bloc has suspended any payments until Budapest implements reforms to improve judicial independence and tackle corruption.

Traders exchanged $47 billion worth of Tesla shares, accounting for a fifth of all transactions in S&P 500 stocks.Cisco ...
17/02/2023

Traders exchanged $47 billion worth of Tesla shares, accounting for a fifth of all transactions in S&P 500 stocks.

Cisco Systems Inc (NASDAQ:CSCO) rose 5.2% and hit a nine-month high after the network gear maker raised its full-year earnings forecast.

The Nasdaq declined 1.78% to 11,855.83 points, while Dow Jones Industrial Average declined 1.26% to 33,696.39 points.Tes...
17/02/2023

The Nasdaq declined 1.78% to 11,855.83 points, while Dow Jones Industrial Average declined 1.26% to 33,696.39 points.

Tesla (NASDAQ:TSLA) Inc slid 5.7% as the electric vehicle maker said it was recalling 362,000 U.S. vehicles and fixing them via an over-the-air software update after the U.S. auto regulator said its Full Self-Driving Beta software may cause a crash.

A recovery in China bodes well for broader Asian markets, given the country’s role as a key trading hub for the region. ...
16/02/2023

A recovery in China bodes well for broader Asian markets, given the country’s role as a key trading hub for the region. Optimism over China also helped regional markets look past better-than-expected U.S. retail sales and inflation data, which likely heralds more interest rate hikes by the Federal Reserve.

The People’s Bank of China said it will undertake more measures to boost economic growth this year, and will also shore ...
16/02/2023

The People’s Bank of China said it will undertake more measures to boost economic growth this year, and will also shore up lending as the economy recovers from three years of COVID-related disruptions, state media reports showed.

Optimism over a Chinese economic recovery was also aided by data showing that new home prices rose slightly in January from the prior month. But on a year-on-year basis, Chinese house prices slid 1.5%.

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