JERUSALEM (Reuters) - Israel's cabinet on Sunday approved the nomination of Amir Yaron for Bank of Israel governor, the prime minister's office said.The final decision lies with Israeli President Reuven Rivlin.gi The Israeli-born Yaron, 54, a professor at the Wharton School of the University of Pennsylvania and who has lived in the United States for two decades, was chosen by Prime Minister Benjamin Netanyahu last month.He would succeed Karnit Flug, whose five-year term concluded last week."I am aware of the heavy responsibility placed on my shoulders, and I will do all in my power to fortify the strength and continued growth of the Israeli economy," Yaron said in a separate statement from the Bank of Israel."I am excited to return to Israel after the years I spent in the United States pursuing my academic work, and I view this position as the pinnacle of my professional career."Israel's monetary policy committee next decides on interest rates on Nov 26. (Reporting by Steven Scheer; … [Read more...] about Israel cabinet approves Amir Yaron as central bank chief
By Charlotte Greenfield PORT MORESBY (Reuters) - Tonga has signed up to China's Belt and Road initiative and has received a reprieve from Beijing on its onerous debt repayment schedule, an official from the Pacific island nation told Reuters. Lopeti Senituli, political advisor to Tongan Prime Minister 'Akilisi Pōhiva, told Reuters by email on Sunday that Tonga had signed a Belt and Road memorandum of understanding, and that the concessional loan had been deferred for five years. Tonga is one of eight island nations in the South Pacific that owe significant debt to China. The deferment came just as Tonga was set to commence principal repayments on the debt, which is expected to put severe strain on its finances. China's ministry of foreign affairs did not immediately respond to request for comment on Sunday. (Reporting by Charlotte Greenfield in PORT MORESBY; Editing by Sam Holmes) … [Read more...] about China defers Tonga’s loan payments as Pacific nation signs up to Belt and Road
By Gergely SzakacsBUDAPEST (Reuters) - Eastern Europe's chronic labour shortage is feeding into corporate takeover activity, with some companies making acquisitions to snap up skilled workers or obtain expertise needed to expand their businesses. gi While the practice represents just a small part of the region's mergers and acquisitions market, it underlines concerns about the deepening labour crunch at a time of buoyant economic activity, advisors and executives said.When Hungarian poultry firm Tranzit-Food bought chicken plants from sector rival Gastor, the availability of 550 qualified workers was among the foremost factors considered, chief executive Akos Szabo said."Earlier, the key planks of a takeover were profitability, market share, branding, the stock of assets, the planned investments or the autonomy of management," he added. "Now, we are screening the entire workforce, and this ranks higher than physical assets. We are willing to pay a premium for a well-trained workforce." … [Read more...] about People are our greatest asset. Wanna buy them?
(Reuters) - Karey Burke will replace Channing Dungey as president of Walt Disney's <DIS.N> ABC Entertainment, the company said on Friday. Burke is currently head of original programming for Disney's cable channel Freeform. Dungey will stay through a transition period as Burke assumes her new role, Disney said. (Reporting by Munsif Vengattil in Bengaluru; Editing by Maju Samuel) … [Read more...] about Karey Burke to replace Channing Dungey as ABC Entertainment president
By David French(Reuters) - Warburg Pincus LLC is seeking to raise $2.5 billion (2 billion pounds) for its second energy-focused private equity fund, four years after its first $4 billion such fund, people familiar with the matter said on Friday.gi Private equity firms typically aspire to raise successor funds that are larger than their previous fund. Warburg Pincus' smaller target illustrates how suppressed oil prices have affected investment firms' strategies in the sector in recent years.Oil prices declined from a mid-2014 peak above $100 a barrel to around $26 a barrel in early 2016. This caused Warburg Pincus' first energy fund to deploy capital more slowly, meaning it is still holding on to assets and has yet to return cash to investors.However, oil prices are now hovering around $70, emboldening private equity firms to raise new funds. These include Apollo Global Management LLC <APO.N>, Blackstone Group LP <BX.N> and First Reserve Management LP. As with its maiden … [Read more...] about Warburg Pincus seeks $2.5 billion fund for new energy investments