Halifax Water backtracks on request for rate increase in September

Halifax Water is reversing course on its February request to increase its rates for water and wastewater services. In a news release Monday, the utility said it has recommended to the Nova Scotia Utility and Review Board (NSUARB) that there be no increase in water rates for the next two years. “In addition, the utility is recommending no increase in […]

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UPDATE 2-Italian bond yields fall to six-week low; focus on recovery fund

* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Recasts, updates prices) By Yoruk Bahceli LONDON, May 25 (Reuters) – Italian bond yields shrugged off a paper from hawkish European Union states opposing a Franco-German proposal for a grants-based coronavirus recovery fund, dropping to six-week lows on Monday. Austria, Sweden, Denmark and the Netherlands outlined on Saturday their previously voiced opposition […]

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Vietnam plans $970m tax cut for small businesses amid coronavirus pandemic

HANOI (REUTERS) – Vietnam plans a 15.84 trillion dong (S$970 million) cut in corporate income tax for small-sized enterprises this year to help them overcome the impact of the coronavirus pandemic, the Ministry of Finance said on Monday (May 25). The ministry is seeking a 30 per cent cut in corporate income tax for companies with annual revenue of less […]

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Italy's daily coronavirus death toll drops but Lombardy not included

ROME, May 24 (Reuters) – Italy recorded 50 new deaths from the COVID-19 epidemic on Sunday against 119 the day before, the Civil Protection Agency said. However, it added that the data did not include deaths from the worst affected Lombardy region due to technical problems. The daily tally of new cases declined to 531 from 669 on Saturday. The […]

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Singapore sees negative rates creep in with flush liquidity

Negative interest rates are creeping into Singapore. The nation’s overnight borrowing rate was less than two basis points above zero on Tuesday, down from the year’s high of 1.68 per cent in January. The one-month swap offer rate, the cost to borrow the city’s currency for United States dollar investors, fell below zero on Wednesday for the first time in […]

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New Brunswick reverses ban on temporary foreign workers

New Brunswick has reversed its ban on temporary foreign workers almost a month after it was first announced. Premier Blaine Higgs said that the decision was made by the all-party cabinet committee on COVID-19 after consultations with public health professionals left them satisfied that the risk posed by workers is low. “Now that we have consulted with experts including public […]

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JGBs mixed as U.S.-China tensions heighten

TOKYO, May 22 (Reuters) – Japanese government bond prices were mixed on Friday with growing risk-off sentiment as investors were wary of diplomatic tensions between China and the United States. Benchmark 10-year JGB futures rose 0.08 point to 152.44, with a trading volume of 12,190 lots, while the 10-year JGB yield edged down half a basis point to minus 0.010%. […]

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Japan core consumer prices slip into deflation for first time in 3 years

TOKYO (REUTERS) – Japan’s core consumer prices fell for the first time in more than three years in April on an annual basis, as weak oil prices and coronavirus lockdown measures heightened deflation risks. The April data was released just before the central bank announced a new loan scheme on Friday (May 22) aimed at boosting lending to small and […]

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PRESS DIGEST- British Business – May 22

May 22 (Reuters) – The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times – New measures to keep the lights on as the pandemic takes its toll on electricity demand will cost about 500 million pounds ($611.05 million) this summer, National […]

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