By Reuters Staff
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BERLIN, Jan 25 (Reuters) - The German economy, Europe’s largest, will likely reach its pre-pandemic levels in mid-2022, according to a draft document prepared by the economy ministry and seen by Reuters on Monday.
The world economy’s situation, underutilised production capacities and early indicators suggest a further recovery of the German economy, the ministry said in its draft annual economic report.
Germany’s budget deficit is seen at 7% this year when compared to gross domestic product, leading to a debt ratio of 72.5%, the ministry said, as Berlin is spending billions of euros to cushion the economic blow of the pandemic. (Reporting by Christian Kraemer and Andreas Rinke; writing by Thomas Seythal; editing by Riham Alkousaa)
Bahrain will likely need further financial support from its Gulf neighbours despite reform measures, Fitch Ratings' lead Bahrain analyst Toby Iles said on Monday.
Global bond funds lead inflows in the seven days to Jan. 20 as hopes of big fiscal stimulus packages under the new U.S. administration under President Joe Biden increased bets of a swift global economic recovery.
The European Central Bank should consider climate risk when buying assets or accepting them as collateral, top ECB policymakers said on Monday though Bundesbank President Jens Weidmann cautioned that price stability not saving the planet remained the ECB's top priority.
By Reuters Staff
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PARIS, Jan 25 (Reuters) - French media conglomerate Vivendi said on Monday it had raised its stake in Spanish rival Prisa, the owner of Spain’s influential El Pais newspaper and other media assets, to 9.9% from 7.6%.
On Friday, Vivendi had announced it had bought the 7.6% stake, saying the move responded to the group’s strategy to become “a global leader in content, media and communications” and to extend its reach in the Spanish-language markets in Europe, Latin America and United States.
Vivendi said it bought the stake hours after HSBC had agreed to sell a 7.89% stake in Prisa for 52 million euros ($63.3 million).