The ruble fell to a new record low against the dollar and euro in early trading Wednesday despite a $2.5 billion intervention from the Russian central bank to prop up the currency. The Russian central bank has been forced to intervene once more in currency markets by using foreign exchange reserves to purchase rubles as it continued its slide…
Despite being one of the largest oil producers in the world, the extra heavy crude produced by Venezuela needs to be diluted before it can be exported. Until recently, the Venezuelan government had been buying naphtha on open markets to treat its oil. But a combination of falling oil prices (which makes the country’s major export less profitable) and devalued currency (which makes buying things abroad increasingly expensive) has created a conundrum…
MADRID, Oct 29 (Reuters) – Spain’s BBVA plans to issue more so-called additional Tier 1 bonds, or bonds that can be converted into capital, early next year, the bank’s head of strategy and finance Jaime Saenz de Tejada said on Wednesday.
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