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Eurogroup elects new head as Russian frozen assets debate rages
Eurogroup elects new head as Russian frozen assets debate rages
Economy
by  AFP

Finance ministers from Europe's 20-country single currency area are to choose the next Eurogroup chief on Thursday, as the EU weighs a tough decision on using frozen Russian assets to aid Ukraine. Created in 1997, the body coordinates the economic and budgetary policies of the 20 countries of the eurozone, which will soon number 21, as Bulgaria prepares to adopt the single currency on January 1.

Asian traders cheer US rate cut but gains tempered by outlook
Asian traders cheer US rate cut but gains tempered by outlook
Economy
by  AFP

Most Asian markets rose Thursday as traders welcomed the Federal Reserve's third straight interest rate cut, though the euphoria was tempered by an indication officials could hold off another reduction any time soon. However, traders have lowered their expectations for a string of further cuts in 2026 after the bank's statement used language used in late-2024 to signal a pause in more rate cuts.