By Hannah Lang WASHINGTON (Reuters) – The dollar pared earlier losses and sterling fell on Tuesday as traders reckoned banking stress could keep the Federal Reserve and the Bank of England from hiking interest rates much further, or at all, later in the week. Investors’ focus has moved to a slew of central bank meetings …
Dollar holds its breath as market awaits Fed policy decision Read More »
By Jorgelina do Rosario, Karin Strohecker and Uditha Jayasinghe LONDON/COLOMBO (Reuters) -Sri Lanka is ready to engage in debt restructuring talks with bilateral and private creditors to recover debt sustainability as “soon as possible”, state finance minister Shehan Semasinghe said on Tuesday. Sri Lanka this week secured a $2.9 billion programme from the International Monetary …
Sri Lanka ready to engage with all creditors after IMF deal – minister Read More »
(Reuters) – Tencent Music Entertainment Group beat quarterly revenue estimates on Tuesday, helped by continued growth in paying users and a recovery in advertising. The platform, China’s answer to Spotify, has seen torrid paid user growth as it invested heavily into music licensing deals and offering live shows and concerts on the platform. Tencent likely …
China’s Tencent Music beats quarterly revenue estimates Read More »
By Neil Jerome Morales MANILA (Reuters) – The Philippines’ gaming regulator is considering selling all 41 casinos it operates to raise 80 billion pesos ($1.47 billion) in government revenue and in order to focus on its regulatory functions, the agency’s chief said on Tuesday. The proposal by the Philippine Amusement and Gaming Corp (Pagcor) comes …
Philippines gaming regulator weighs sale of casinos for $1.47 billion Read More »
By Uditha Jayasinghe and Swati Bhat COLOMBO (Reuters) -Sri Lanka will get the first $330 million tranche of an International Monetary Fund bailout in the next two days, the global lender said on Tuesday, putting the onus on the cash-strapped country to rein in its debt to sustainable levels. Economic mismanagement coupled with the impact …
Debt-stricken Sri Lanka to get first tranche of IMF bailout funds in two days Read More »
SHANGHAI (Reuters) – BYD has reduced shifts at two auto assembly plants in China, people with knowledge of the matter told Reuters, in a sign of how weaker demand in the world’s largest auto market is affecting its best-selling electric vehicle brand. BYD, which outsells Tesla in China, asked some of the workers at its …
Exclusive-BYD reduces shifts at two EV assembly plants in China – sources Read More »
HANOI (Reuters) – Vietnam’s Be Group said on Tuesday it has signed an agreement with an electric vehicle leasing service that will make it the first ride-hailing firm in the country to use EVs. Be, a homegrown platform with nearly 10 million customers, and GSM, founded by the owner of Vietnamese EV maker VinFast, will …
Vietnam’s Be Group in deal to become country’s first ride-hailing firm to use EVs Read More »
BERLIN (Reuters) – German exports to China declined significantly in February, dampening hopes of a trade revival following the end of strict coronavirus measures at the end of last year, the federal statistics office said on Tuesday. Exports to China, Germany’s most important trade partner, decreased by 12.4% to 7.9 billion euros ($8.46 billion) compared …
German exporters’ dip in China trade dampens post-lockdown hopes Read More »
SHANGHAI (Reuters) -Liquidity conditions in China’s interbank money markets showed signs of stress on Tuesday as seasonal cash demand kicked in, while the central bank’s move to lower the amount of cash banks must set aside as reserves has yet to come into effect. Short-term primary money rates rose across the board, with volume-weighted average …
China’s overnight repo rate hits 2-year high on liquidity strains Read More »
By Selena Li HONG KONG (Reuters) – U.S. fund giant Vanguard Group is shutting its main Shanghai office and exiting from a joint venture with Ant Group, five sources with knowledge of the matter said, moves that will end its six-year presence in the world’s second largest economy. A complete exit from China’s 27 trillion …
Vanguard to exit China funds JV with Ant, close Shanghai office – sources Read More »
