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Romania quietly catches up with richer neighbours, helped by EU cash

By Luiza Ilie and Gergely Szakacs BUCHAREST (Reuters) – Romania’s economy is set to outpace its stagnating neighbours this year, helped by European Union funding, currency stability and foreign investment driven in part by reshoring from Russia and Ukraine. The International Monetary Fund expects a 3.1% expansion, while even the European Commission’s 1.8% growth forecast …

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Lkw-Verkehr auf Autobahnen bricht ein – Auch wegen Grippewelle

Berlin (Reuters) – Der Lkw-Verkehr auf den deutschen Autobahnen ist im Dezember wegen der Grippewelle und tagelangen Minus-Temperaturen so stark eingebrochen wie seit Beginn der Corona-Pandemie nicht mehr. Die Fahrleistung mautpflichtiger Lastkraftwagen mit mindestens vier Achsen auf Bundesautobahnen nahm kalender- und saisonbereinigt um 4,9 Prozent zum Vormonat ab. “Dies ist der stärkste Rückgang seit dem …

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Czech central bank stayed out of FX markets in November

PRAGUE (Reuters) – The Czech National Bank stayed out of currency markets in November, the first month it did not sell foreign currency since it began interventions to prevent a weak crown in May 2022, central bank data showed on Monday. The crown has climbed to 12-year highs, on the strong side of 24 crowns …

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Spain’s govt to approve on Tuesday green hydrogen projects regulation in Spain

MADRID (Reuters) – Spanish Prime Minister Pedro Sanchez said on Monday his cabinet will approve on Tuesday a new decree to regulate the first four out of 11 green hydrogen projects to be carried out in the country. In a speech in Madrid, Sanchez said his government will approve a 74 million-euro ($79.12 million) initial …

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Vivendi’s Canal Plus clinches deal for Orange’s film and pay-TV arm

PARIS (Reuters) -Vivendi’s Canal Plus has finalised a deal to buy the OCS film and pay-TV division of Orange, France’s biggest telecoms group, the companies said on Monday without disclosing financial terms. The deal would mark the end of Orange’s venture into the movie industry and distribution of TV series, following years of losses at …

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France ready to back Pakistan in talks with creditors, says Macron

PARIS (Reuters) – French President Emmanuel Macron said Paris was ready to support Pakistan in its talks with financial institutions, as the country faces huge losses from recent floods. France will continue to provide expertise and some financial support to the country, Macron said in a video address as Pakistan and the United Nations held …

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ECB sees ‘very strong’ wage growth ahead in next few quarters

FRANKFURT (Reuters) – Wage growth across the euro zone is expected to be “very strong” over the next few quarters but real wages are still likely to decline given rapid inflation, a European Central Bank Economic Bulletin article argued on Monday. A historic surge in inflation has eroded real incomes over the past two years …

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Lidl GB expects more customers to switch from rivals after bumper Christmas

By James Davey LONDON (Reuters) -The British arm of German discounter Lidl said it expected more shoppers to switch to its stores from traditional supermarket groups in 2023 after its sales rose 24.5% in the four weeks to Dec. 25 compared to the previous year. The rise reflected new store openings and consumers’ search for …

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Pakistan seeks $8 billion in three years for flood recovery

(Reuters) – Pakistan needs $8 billion from its international partners over the next three years to rebuild the country that is reeling from last year’s devastating floods, Prime Minister Shehbaz Sharif said in Geneva on Monday. The floods, blamed on climate change, dealt a severe blow to Pakistan’s strained economy while displacing some 8 million …

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Johannesburg Stock Exchange top companies index hits historic high

JOHANNESBURG (Reuters) – The Johannesburg Stock Exchange Top 40 companies index hit an historic high of 72,161 points in early trading on Monday, up around 2%. The all-share index touched a 10-month high of 78,238 points, a rise of about 1.8%. (Reporting by Rachel Savage, editing by Karin Strohecker)