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September, 1, 2016

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Business > Europe
It seems that the strong start to the year was another false dawn for the eurozone economy and that the European Central Bank will have more to do in the months ahead to shore up growth.
 
Turkey sees over 40% drop in visitors amid security crisis
The number of foreigners visiting Turkey dropped over 40 percent in June to its lowest level this year as the impact of attacks and previous tensions with Russia caused havoc for the vital tourism industry, statistics showed Thursday.
 
Credit Suisse bounced back into profit in the second quarter, earning 170 million Swiss francs (US$172 million), as it reported making progress on a major restructuring program.
 
Britain's vote to leave the EU has had a limited impact on business confidence in Germany, with belief in domestic strength still strong, a key survey showed on Monday.
 
Italy has 'no banking problem': finance minister
Italy does not have a problem with its banks, finance minister Pier Carlo Padoan said Sunday, despite investors fretting about nearly US$400 billion of bad debts weighing down the sector.
 
A 6 percent loss in value of its currency, a plunge on the stock market and a downgrade by a key ratings agency.
 
British business activity sank in July to its lowest level since April 2009, a survey showed Friday in the first indication of economic contraction since the shock EU exit vote.
 
Stock markets turned higher on Friday after surveys suggested the eurozone economy is proving resilient to the uncertainty surrounding Britain's Brexit vote.
 
Germany and Britain agreed Wednesday that Prime Minister Theresa May needed time to prepare for talks to leave the EU, after London took the first step toward Brexit by giving up its presidency of the European Council.
 
The European Central Bank left its key interest rates unchanged at record lows on Thursday as it assesses the impact on the economy of Britain's vote to leave the European Union.
 
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