Greece to Submit 2019 Draft Budget, Hoping to Avoid Pension Cuts

Greece’s government will submit its 2019 draft budget to parliament on Monday evening, aiming to outperform its primary surplus targets for a fifth year and avoid implementing painful pension cuts agreed with creditors. Greece emerged from an international bailout in August. The government has promised its international lenders it will achieve a primary budget surplus,
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LONDON: It has been a tough year for carriers plying their trade on the key Asia to North Europe corridor as demand growth that has been evident elsewhere simply refuses to come, shipping consultancy Drewry said. After seven months of the year Westbound volumes from Asia to North Europe were down by 1% following lacklustre
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Karnataka Chief Minister HD Kumaraswamy today 17 September 2018  announced that his government is reducing the prices of petrol and diesel by Rs. 2. The decision comes at a time when the Centre is under attack from the opposition as the fuel prices are scaling new heights every day. Petrol prices crossed Rs. 90 in at least 11 towns
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Hopes in Greece that it will have fiscal leeway to cancel unpopular pension cuts due next year are in the balance, sources said on Wednesday, as the first inspection visit by its former lenders since it exited its bailout began. The country emerged from the biggest economic rescue in history in late August after almost
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Prices of steel and its raw materials fell sharply in China for a second session on Wednesday, hitting multi-week lows, as more investors liquidated positions with oversupply risks rising as Beijing mulls a flexible implementation of its output curbs. China is considering allowing its northern provinces to decide individual output cuts by heavy industry to
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Chinese steel futures fell more than 4 percent and coke prices also tanked on Tuesday after a source involved with China’s output-cut plan said the environment ministry may allow northern provinces to set their own production curbs over winter. The plan allows for a more flexible implementation of the anti-smog policy during the winter heating
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Chinese steel futures climbed to a two-week high on Monday, gaining for the third straight day amid ongoing restrictions on production to control pollution led by top steelmaking city Tangshan. Tangshan said last week it will extend summer output cuts across the steel, coke and power sectors into September. “The market remained focused on the
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China’s coke futures prices broke a four-day losing streak on Wednesday after China’s top steelmaking city, Tangshan, extended production cuts across heavy industry as part of its efforts to improve its toxic air. The most-active Dalian futures settled at 2,393 yuan per tonne, up 1.3 percent from the previous day’s settlement. Earlier in the session,
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China’s cabinet on Thursday announced new measures to cut costs for companies as policymakers look to support growth amid an escalating trade war with the United States that threatens exporters. The State Council announced tax cuts that should reduce firms’ costs by more than 45 billion yuan (5.06 billion pounds) this year, state radio reported.
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 During the first four months of the current fiscal the steel imports to India stood at 3.03MT is 8.2% higher compared to the level of last year. While Korea and Japan have together exported 1.5MT, nearly 50% of total imports at zero/near zero customs duty under RCEP agreement, China has exported 0.51MT of steel to
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