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EU Finds Seed Money for $392 Billion Investment Plan
The European Commission today will propose a 315 billion-euro ($392 billion) investment plan based on guarantees and a small amount of seed money in order to offer European Investment Bank funds to a wider range of projects.
The EIB will contribute 5 billion euros in start-up cash, accompanied by 16 billion euros in European Union guarantees, according to the plan, which commission President Jean-Claude Juncker will unveil in Strasbourg, France. The start-up money, which is expected to have an impact of 15 times its size, will serve as capital for a new EIB unit that can share risk with private investors.
Oil Volatility Here to Stay Regardless of OPEC Decision
Whatever the outcome of tomorrow's OPEC meeting, options traders are betting on oil-price swings.
That's because the decision from the Organization of Petroleum Exporting Countries isn't likely to make much difference. Slowing global demand and a U.S. shale-drilling boom has created a glut that won't fade any time soon, said Torbjoern Kjus of DNB ASA in Norway.
Russian c.bank to move towards rate cut after curbing inflationary expectations
Nov 26 (Reuters) - Russia's central bank will move towards cutting rates after it stabilises inflationary expectations, First Deputy Governor Ksenia Yudayeva said on Wednesday.
Annual inflation has risen to more than 8 percent because of a weaker rouble and an import ban on some Western food imports, put in place in retaliation to Western sanctions over Russia's role in the Ukraine crisis.
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