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Bloomberg Czech policy makers will probably use negative interest rates only if they need another instrument to deter “excessive” capital inflows, according to Jiri Rusnok, the top candidate to become the next central bank governor. “We can’t give up that tool, but at the same time I think the probability of it being used is really low,” Rusnok, who joined ...

Madrid / AFP This year was supposed to be a good one for Spanish builders but the lack of a government three months after an inconclusive general election has put the brakes on economic activity. “Everything that has to do with construction in this country is blocked,” said Carlos Luaces, director general of Spain’s association of sand and gravel producers, ...

Washington / AFP In lowering its likely path of future interest rate increases this week, the Federal Reserve pushed down the dollar, perhaps aiming to ease strains caused by clashing monetary policies. Economists and investors alike were surprised when the US central bank announced on Wednesday that it only sees two rate hikes in 2016, half the number it envisioned ...

Bloomberg Six weeks ago, TransCanada Corp.closed a deal to buy a power plant in Pennsylvania. On Friday, the company put it back up for sale. The 704-megawatt Ironwood natural gas-fired power complex that TransCanada bought for $657 million from Talen Energy Corp. is back on the block as the company looks for ways to finance another acquisition worth 15 times ...

Bloomberg Mexico kept its overnight interest rate unchanged after the peso’s rebound from a record low eased inflation pressures and the Federal Reserve left borrowing costs on hold. Banco de Mexico’s Governor Agustin Carstens, held the overnight rate at 3.75 percent. The central bank said it will pay special attention to the exchange rate and its possible pass-through to consumer ...

Rio De Janeiro / AFP The Federation of Sao Paulo Industries is lit up in the green and yellow of the Brazilian flag, a giant black banner cutting across its facade with a blunt message: “Resign now.” The powerful industry group is not the only major player in the Brazilian economy that is openly hostile to embattled President Dilma Rousseff. ...

havana / AFP American Sue Pemberton rushed to Havana to experience authentic Cuba before the communist island gets swamped by capitalism. The only problem: millions of other foreigners had exactly the same idea. Already booming tourism is set to explode in the wake of President Barack Obama’s visit to Havana on Sunday, when he’ll bury an almost six decades-long conflict ...

DUBAI / WAM flydubai has announced that it is organising a programme of hardship payments to the families of the passengers of the plane which crashed early Saturday at Rostov-on-Don Airport, in Russia. The carrier said that it would allocate US$20,000 per passenger, in accordance with the Conditions of Carriage. The move aims to address any immediate financial needs of ...

The cabinet also approved a range of initiatives and projects, submitted by Ohoud Khalfan Al Roumi, Minister of State for Happiness, as part of the national happiness programme. The programme includes appointment of a CEO for happiness and positivity at all government bodies, and the establishment of councils for happiness and positivity at federal entities. Certain hours will be allocated ...

ABU DHABI / WAM HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance (MoF) has launched an internal initiative titled, ‘Ministry of Finance, Happiest Ministry,’ which includes a number of programmes in line with the country’s strategy to achieve people’s happiness, enhance the satisfaction levels of the Ministry’s employees, and develop services to ...