LONDON (Reuters) – An International Monetary Fund (IMF) staff team will visit Colombo in a month’s time for the first review on Sri Lanka’s loan programme, a spokesperson said on Tuesday. The Washington-based lender approved a nearly $3 billion bailout for crisis-hit Sri Lanka in March. The Asian island is struggling with its worst financial …
IMF staff to visit Sri Lanka in Sept for first programme review Read More »
By Helen Reid and Amy Tennery LONDON/AUCKLAND (Reuters) – The unpredictability of the Women’s World Cup, with the U.S. knocked out early and a first-time champion assured, is forcing major global marketers such as Adidas and Nike to move fast to adapt to shoppers’ quick shifts in preferences and demand. The tournament in Australia and …
As World Cup breaks records, Adidas, Nike navigate bumps in retail demand Read More »
(Reuters) – China’s Tencent Music Entertainment Group said on Tuesday second-quarter revenue rose 5.5% from a year ago, driven by growth in paying users on its Spotify-like music streaming platform and a recovery in the advertising market. After months of conservative spending companies are starting to see a rebound on signs of cooling inflation and …
Tencent Music’s quarterly revenue rises as more Chinese users pay for music Read More »
SINGAPORE (Reuters) – Singapore Exchange (SGX) said on Tuesday that it will start trading structured certificates this month, making it the first in Asia to list the third-party issued financial instruments that are commonly traded in Europe. The first issue of the structured certificates is a yield enhancement product linked to Chinese tech giant Alibaba …
Singapore Exchange to list structured certificates linked to China’s Alibaba Read More »
BERLIN (Reuters) – Chinese manufacturers are increasingly giving German manufacturers a run for their money in their home European Union market, especially in the field of advanced industrial goods where Germany is a leader. A study by the employers’ economic think tank IW found that in some sectors China’s share of EU imports had risen …
China fast encroaching on Germany’s share of EU markets – study Read More »
LONDON (Reuters) – JPMorgan ramped its 2023 global emerging market corporate high yield (HY) default rate forecast to 9.7% from 6% on Tuesday following the latest wave of problems in China’s property sector. The U.S. investment bank said Chinese property firms were expected to account for nearly 40% of 2023’s corporate default volumes, followed by …
JPMorgan ramps up EM default rate forecast amid China property woes Read More »
BEIJING/HONG KONG (Reuters) -China Evergrande New Energy Vehicle Group (NEV) shares jumped nearly 50% on Tuesday after the electric vehicle unit of cash-strapped property firm China Evergrande Group announced a $3.2 billion plan to reduce debt and stay afloat. The plan unveiled late on Monday includes a new share sale worth nearly $500 million to …
China Evergrande NEV shares jump on $3.2 billion plan to lower debt Read More »
By Kevin Yao and Ellen Zhang BEIJING (Reuters) -A broad array of Chinese data on Tuesday highlighted intensifying pressure on the economy from multiple fronts, prompting Beijing to cut key policy rates to shore up activity but analysts say more support is needed to revitalise growth. Just before the release of a batch of July …
China cuts key rates as weak batch of July data darkens economic outlook Read More »
By Kevin Buckland TOKYO (Reuters) – As the yen slid past 145 per dollar with barely a murmur from Japanese policymakers during recent days, suspicion grew that they won’t be as quick to order intervention as they were last year as they now reap some benefits from a weaker currency. Surging exports helped economic growth …
Analysis-Japan’s policymakers hold fire as yen enters intervention range Read More »
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka on Tuesday lifted a ban on imports of trucks and other heavy vehicles for the first time since March 2020, according to a gazette notification. Sri Lanka has been gradually easing import restrictions, which were imposed as the country’s economy tottered from a financial crisis caused by a …
Sri Lanka lifts import ban on trucks, heavy vehicles Read More »
