Euro zone countries should privide an additional fiscal stimulus of 3% of GDP in 2021-2022 to boost economic growth by 2% of GDP by the end of next year and reduce the negative effects of the pandemic, the International Monetary Fund said.
By Reuters Staff
3 Min Read
OSLO (Reuters) - Norwegian Air now aims to raise up to 6 billion crowns ($711 million) in fresh capital, up from a planned 4.5 billion, to bolster its resources before emerging from bankruptcy protection next month as the pandemic continues to curb travel.
FILE PHOTO: A Norwegian Air plane is refuelled at Oslo Gardermoen airport, Norway November 7, 2019. REUTERS/Lefteris Karagiannopoulos
Financed largely by debt, Norwegian Air grew rapidly, serving routes across Europe and flying to North and South America, Southeast Asia and the Middle East before the COVID-19 pandemic plunged the airline into crisis.
“We want to take a conservative approach at a time when the pandemic and travel restrictions continue to create unpredictability in the travel sector,” Chief Executive Jacob Schram said in a statement on Wednesday.
Turkey's Competition Board said on Wednesday it had fined Google more than 296 million lira ($36.65 million) for abusing its dominant position in the search engine services area.
Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Adds details, updates prices)
LONDON, April 14 (Reuters) - German government bond yields rose to two-week highs in late Wednesday trade, unwinding an earlier rally when manufacturing and industrial data in the euro zone and Japan signalled hurdles ahead as the global economy battles the coronavirus pandemic.
Euro zone industrial output declined in February after expanding in January, and Japanese machinery orders fell by the most in about a year.,
Euro zone bond yields - which have tracked U.S. Treasury yields higher on hopes for a strong economic recovery later this year and higher inflation - initially dropped.
6 Min Read
LONDON (Reuters) - Fund managers are trimming exposure to Russia and Ukraine on fears that years of tensions could finally erupt into outright war, bringing economic ruin for Ukraine and more sanctions on Russia.
FILE PHOTO: A Shmel-class gunboat of the Russian Navy s Caspian Flotilla sails along the Don River during the inter-fleet move from the Caspian Sea to the Black Sea, in Rostov-on-Don, Russia April 13, 2021. REUTERS/Sergey Pivovarov
But with largest build up of Russian troops on the Ukrainian border since Moscow’s annexation of Crimea in 2014, and uncompromising rhetoric from the Kremlin, some investors feel market positioning is still not cautious enough.