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(MENAFN - AFP) Government support and lower costs will power stronger-than-expected global growth in renewable energy over the next five years, the International Energy Agency (IEA) said Tuesday.

After a record 2015, global renewable electricity capacity will grow by 825 gigawatts by 2021, a massive 42-percent rise, the IEA said.

The estimate is 13 percent higher than ...

(MENAFN - AFP) German business confidence defied predictions to climb to a new two-year high in October, the Ifo economic institute said Tuesday.

The Munich institute's headline business confidence index hit 110.5 points in October, up one point from the September reading of 109.5 and the highest level since April 2014.

Business people's mood beat the forecasts of analysts ...

(MENAFN - AFP) France's Canal du Midi was once a bustling commercial artery crowded with lock keepers, boatmen and barges weighted down by wine and wheat.

These days, 350 years after it was carved out of the soil of southwestern France, its banks and waters have become a haven for slow-living locals, artists and prosperous professionals.

They are passionate about this ...

(MENAFN - AFP) Italian bank Monte Paschi di Siena (BMPS) announced on Tuesday plans to cut 2,600 jobs and close around 500 branches in an effort to turnaround the troubled lender.

BMPS, the world's oldest bank still operating today, unveiled the overhaul as it posted a net loss of 1.15 billion euros ($1.3 billion) in the third quarter.

Losses linked to loans led to ...

(MENAFN - AFP) Eurozone officials announced on Tuesday they have approved 2.8 billion euros for Greece from its huge third bailout after the cash-strapped nation delivered the needed reforms.

Following the latest disbursement approved by the European Stability Mechanism (ESM), Greece will have received 31.7 billion euros of the 86-billion-euro bailout granted in July 2015, ...

(MENAFN - AFP) Japan's Kyushu Railway rocketed Tuesday as the former state-owned firm made its trading debut in Tokyo after scoring one of this year's biggest initial public offerings.

The firm soared as much as 20 percent in the morning before ending at 2,990 yen, up 15 percent from its IPO price.

The firm raised 416 billion yen ($4.0 billion), making it the world's ...

(MENAFN - AFP) The chairman of scandal-hit retail giant Lotte Group on Tuesday vowed to restore the company's image and promised a multi-billion dollar investment and job creation drive over the next five years.

Shin Dong-Bin, together with his father and brother, has been indicted on charges of tax evasion and embezzlement following a lengthy corruption probe.

The ...

(MENAFN - AFP) Shares in Tata Sons companies fell in early trade on Tuesday after India's biggest conglomerate shocked the Indian business world and abruptly sacked its chairman Cyrus Mistry.

In a statement Tata Sons, the holding company of the massive $100 billion Tata Group, said Monday its board had voted to replace Mistry, four years after he became its first chief from ...

(MENAFN - AFP) Hollywood may have kicked karate onto the world stage, but its first-ever Olympic inclusion at the Tokyo 2020 Games promises to shine a light on the rich history of the discipline.

At 78, sensei Masahiro Nakamoto has been waiting decades for this decision, insisting there is far more to the martial art than the caricature depicted in films such as Karate Kid ...

(MENAFN - AFP) A massive recall of Samsung smartphones and strikes at Hyundai Motor took a toll on South Korea's economy in the third quarter, with the slowest growth in more than a year.

Asia's fourth-largest economy expanded 2.7 percent on-year in July-September -- the weakest pace since the second quarter of 2015 -- the central Bank of Korea (BOK) said Tuesday.

"Growth ...

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