Lisbon /AFP The European Commission and Portugal said they have agreed on a 5-billion-euro deal to recapitalise the state-owned Caixa Geral de Depositos (CGD) bank, including through a 2.7-billion-euro injection of state funds. The deal was provisionally approved by European Union competition chief Margrethe Vestager to meet the 28-nation bloc’s tough rules on preventing unfair government aid for businesses. ...

  Bloomberg China’s central bank watchers have something new to puzzle over. The People’s Bank of China sold 50 billion yuan ($7.5 billion) of 14-day reverse-repurchase agreements on Wednesday, its first offering of anything with a tenor other than seven days since February. Officials are signaling they’re ready to curb leverage in the bond market by making it less profitable ...

  AFP Russia’s largest lender Sberbank on Thursday announced it almost tripled its profits in the second quarter and predicted further stabilisation of the economy this year despite credit growth slowing. The majority state-controlled bank made a net profit of 145.4 billion rubles ($2.23 billion, 1.98 billion euros) in the second quarter, up 166.3 percent on the same period last ...