ICD boosting activity in Africa to widen Islamic finance appeal

(Reuters) - The private sector arm of the Jeddah-based Islamic Development Bank [ISDBA.UL] plans to increase its activities in Africa, part of plans to widen the appeal of Islamic finance across the region, its chief executive said.

Russian sanctions ripple through European boardrooms

(Reuters) - A deepening economic standoff between Russia and the west over the future of Ukraine has rippled through trading floors and boardrooms with exporters scrambling to protect revenues and global financial firms halting services.

Puerto Rico’s Second Cut to Junk Debt

Moody’s Investors Service downgraded Puerto Rico’s general-obligation debt to junk status on Friday, intensifying a cash squeeze on the island and prompting some residents to blame hard-nosed creditors for their mounting troubles.

Germany's finances in surplus as growth picks up

Germany's finances are back in surplus as growth rebounded in the second quarter, official data showed on Friday.