Norway, Qatar and Azeri Sovereign Wealth Funds Buy Into Russia's VTB

Russia's second-largest lender VTB Bank (VTBR.RS) said Monday its secondary public offering, scheduled for May, attracted demand from the sovereign wealth funds of energy giants Norway, Qatar and Azerbaijan.

Italy's new economy minister aims to cut taxes and spending

ROME (Reuters) - Italy's new economy minister Fabrizio Saccomanni plans to cut taxes and public spending and lower borrowing costs, according to an interview published on Sunday in daily la Repubblica.

Swiss central bank keeps some gold in UK, Canada

GENEVA: The Swiss National Bank has for the first time disclosed where it stashes its 1,040 tons of gold, saying almost a third is kept overseas, in Britain and Canada.

Russia's VTB set to approve terms for $3.2 billion share sale

MOSCOW (Reuters) - Russia's second-largest bank VTB (VTBR.MM) was set to push ahead with a 100 billion rouble $3.2 billion (2 billion pounds) share sale in the coming weeks to bolster its capital, even as its shares languish after a series of strategic missteps.

Post-Cyprus credit rebound hints at bounce for unloved banks

LONDON (Reuters) - A hasty scramble to ditch European banks after Cyprus took a contentious sovereign bailout drove some stocks lower than the credit market suggests they should be, potentially leaving them ripe for a rebound.

Greek privatisation bidder urged to improve offer

Greek-Czech investment fund Emma Delta has been given until 1 May to submit an improved bid for Greek gambling monopoly OPAP.

Forex Flash: Massive sovereign wealth fund gobbles up JGB – UBS

FXstreet.com (Barcelona) - Market attention is now shifting to the Government Pension Investment Fund in Japan. This giant asset manager has Y111.9trn ($1.19trn).

Knocking on EU's door, Serbia tries to tap investment potential

BELGRADE (Reuters) - Serbs pride themselves on their hospitality, and Abu Dhabi's crown prince got the full treatment this year: skiing in the mountains, a tour of Belgrade's Red Star soccer club and a parting gift of hand-knitted woollen socks.

ECB's Nowotny says too early to judge if rate cut needed

WASHINGTON: It is too early for the European Central Bank to judge whether a further interest rate cut is needed but the impact of Japan's easing must be closely monitored, ECB Governing Council member Ewald Nowotny said on Saturday.

Lloyds May Raise $1.2 Billion From Scottish Widows, Numis Says

Lloyds Banking Group Plc (LLOY), the U.K.’s biggest mortgage lender, may reap about 800 million pounds ($1.2 billion) from selling fund-management unit Scottish Widows Investment Partnership, Numis Corp. said.

Portuguese borrowing costs steady, show faith in bailout, ECB

LONDON: Growing public protests against austerity have not blown Portugal's borrowing costs off course, suggesting investors still believe the European Union will make the country's bailout work.

Angola misses deadline on $5 bln wealth fund, blames legal challenge

LISBON (Reuters) - Angola said on Tuesday it missed its own deadline to publish an investment policy for a planned $5 billion sovereign wealth fund due to a legal challenge, slowing efforts to diversify its oil-dependent economy.

China softens rules on bank lending to local govts: Sources

SHANGHAI: New rules from China's banking regulator aimed at restricting local government borrowing are weaker than a draft version circulated last month, according to a copy of the rules provided to Reuters by two industry sources.

Cordiant Raises $250 Mln to Invest in Emerging Market

Cordiant Capital Inc., a Montreal- based money manager, raised $250 million to invest in emerging market loans as it seeks to replace European and American banks that have cut lending.

Switzerland eyes compromise with EU in tax row

ZURICH: Swiss Finance Minister Eveline Widmer-Schlumpf signalled the country may be ready to make concessions to the European Union to end a long-standing conflict over EU citizens stashing untaxed money in Swiss bank accounts.

Cyprus president to ask EU for more help

NICOSIA: Cyprus' president said today that he will ask the European Union to provide more help for the crisis-hit country, which has to pay for most of its expected 23 billion euro (USD 30 billion) bailout.

China banks "significantly exposed" to shadow financing: Fitch

BEIJING (Reuters) - Chinese banks face growing risks as they are heavily exposed to the "shadow banking" being used by debt-laden local governments to raise funds, global ratings agency Fitch said on Wednesday.

Inflation likely to remain stable as recovery strengthens: IMF

WASHINGTON: Asserting that inflation is likely to remain stable as the recovery strengthens, the International Monetary Fund has said fears about high inflation should not prevent monetary authorities from pursuing highly accommodative monetary policy.

Gulf Funds Eye U.K. Banks as Rules Tighten, Staveley Says

Investment firm PCP Capital Partners LLP and the Gulf investors it works with are interested in the U.K.’s banking industry despite stricter rules imposed since the financial crisis, said Chief Executive Officer Amanda Staveley.

Qatar runs returns rule over fast cars and football

DUBAI (Reuters) - Bankers and politicians touting their countries' wares have to work hard to get the attention of Qatar's sovereign wealth fund, such is the range of its interests, from banks to cars to soccer clubs, and its exacting requirement for returns.

China Local Debt May Top Estimates, Former Minister Says

China’s local governments may have more than 20 trillion yuan ($3.2 trillion) of debt, former Finance Minister Xiang Huaicheng said, almost double the figure given in a 2011 report by the National Audit Office.

France wants banks to be core Euronext investors - sources

LONDON/PARIS (Reuters) - The French government has approached the country's banks and insurers about forming a consortium to buy at least 34 percent of the Euronext stock exchange, due to be spun off in a public offering, sources close to the matter said on Friday.

France, Germany seek to finesse growth vs rigor divide

(Reuters) - The finance ministers of France and Germany sought on Thursday to play down differences over the euro zone's economic policy mix, saying budgetary rigor and growth were not incompatible.

Cyprus crisis to deepen Greek recession: Business leader

ATHENS: The Cyprus crisis could tip Greece into an even deeper recession this year, the head of Greece's biggest business group said on Wednesday, urging a growth-boosting rethink of the country's bailout programme.

Ruble Tumbles Most in 12 Weeks as Europe Woes Stoke Outflows

The ruble sank the most in 12 weeks as concern over Europe’s economic and debt crisis spurred the strongest capital outflow from Russia in a year.

World stocks edge higher on US economy hopes

LONDON (AP) — Stock markets mostly rose on Tuesday on hopes that improvements in the U.S. economy will make up for the continued gloom in the eurozone, where the unemployment rate hit a new record high.

Yen Rises to Almost Four-Week High on Safety Demand

The yen climbed to the strongest level in almost four weeks against the dollar after a gauge of U.S. manufacturing expanded less than forecast, adding to haven demand and damping bets the Federal Reserve might slow its bond- buying under quantitative easing.

Investors shun emerging market equity funds: EPFR

NEW DELHI: Emerging market equity funds witnessed their biggest weekly redemption since early September, primarily due to Italy's inconclusive election and the Cyprus bank bailout, a report says.