Funding & Business
Divesting Russia Unit Not in Raiffeisen’s Hands: CEO
Raiffeisen Bank International AG’s chief executive officer says the bank wants to deconsolidate its business in Russia, but the decision is not necessarily up to the firm. “It’s not in our hands,” Johann Strobl told Lizzy Burden at a Bloomberg event in Vienna. The bank says it has been trying to figure out how to leave Russia for more than three years.
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The SEC is moving closer to giving its approval multi-share class structure. This would allow mutual funds to launch an ETF as a shared class of an existing product. Bloomberg’s James Seyffart has more on the story. (Source: Bloomberg)
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France’s central bank trimmed its economic outlook for the next two years, warning of downside risks from budget uncertainty following another government collapse.
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Nigeria’s naira hit a near seven-month high boosted by stronger oil export earnings and foreign demand for the high yields offered by the local debt market ahead of possible interest rate cut next week.
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