(Updates prices, adds BCS comment)
MOSCOW, March 22 (Reuters) - The Russian rouble tumbled towards 75 against the dollar in volatile trade on Monday, touching a more than two-week low as new sanctions against Moscow loomed and Turkey’s nose-diving lira led to a drop in risk appetite.
By 1519 GMT, the rouble was 1% weaker against the dollar at 74.88. Earlier, it slumped to 74.9300, its weakest mark since March 4.
It had lost 1.2% to trade at 89.30 versus the euro , crossing the 89 threshold for the first time since March 5.
Turkey’s lira briefly fell 15% to near its all-time low after President Tayyip Erdogan’s shock weekend ousting of a hawkish central bank governor sparked fears of a reversal of recent rate hikes, putting pressure on riskier assets.
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NEW DELHI (Reuters) -India has reversed its decision to lower interest rates by up to 1.1% on its state-backed small savings scheme, Finance Minister Nirmala Sitharaman said on Thursday, adding that orders to cut rates to a near five-decade low were issued due to an oversight.
Small savings are the lifeblood of India’s low and middle income groups, and cutting interest rates would have dealt a severe blow to hundreds of millions of Indians at a time when thousands have lost jobs and faced pay cuts due to the pandemic.
“India shall continue to be at the rates which existed in the last quarter of 2020-2021, i.e., rates that prevailed as of March 2021,” Sitharaman said in a tweet on Thursday.
Scotland's former political leader Alex Salmond said on Thursday his new pro-independence party, which could cost the ruling Scottish National Party votes in a May election, had nothing to do with his bitter row with the country's current leader.
Greensill Capital's administrator has been unable to verify invoices underpinning loans to Liberty Steel owner Sanjeev Gupta, the Financial Times reported on Thursday.
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ROME/MILAN (Reuters) -Italy is considering a less expensive route to win control of broadband operator Open Fiber, three sources familiar with the matter said on Wednesday, as it looks to play a steering role to boost connectivity across the country.
Open Fiber is jointly owned by Italy’s biggest utility, Enel, and state lender Cassa Depositi e Prestiti (CDP). Enel has been in talks to sell up to 50% of the fiber infrastructure group to Australian fund Macquarie for 2.65 billion euros ($3.11 billion) since last year and a deal is expected to be clinched by June.
The original scheme envisaged CDP buying 10% of Open Fiber from Enel and negotiating governance rights with Macquarie to secure control.