Reuters Asia Business

Stocks, crude oil advances despite higher interest rate expectations

23 Feb 2023

By Chibuike Oguh NEW YORK (Reuters) -Global equities and crude oil rebounded from earlier losses on Thursday even as economic data continued to show the strength of the U.S. economy and validated the Federal Reserve’s tight monetary policy stance. A U.S. Labor Department report on Thursday showed that new claims for unemployment benefits unexpectedly fell …

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Yellen, G7 urge more aid for Ukraine and adherence to Russia sanctions

23 Feb 2023

By David Lawder and Aftab Ahmed BENGALURU (Reuters) -Finance ministers from the United States and its G7 allies called for more financial support for Ukraine on Thursday and vowed to maintain tough sanctions on Russia on the eve of the first anniversary of Moscow’s invasion. Speaking ahead of a meeting of the Group of 20 …

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Pakistan set to raise interest rates in off-cycle review, say investors

23 Feb 2023

By Ariba Shahid KARACHI, Pakistan (Reuters) -Pakistan’s central bank is set to raise interest rates as early as this week in an off-cycle review, investors said, as the South Asian nation faces pressure to mend its finances while seeking a $1 billion loan from the International Monetary Fund. Market participants in a recent treasury bill …

Pakistan set to raise interest rates in off-cycle review, say investors Read More »

Singapore’s Grab brings forward profitability goal, sees strong 2023

23 Feb 2023

(Reuters) -Grab Holdings Ltd, Southeast Asia’s biggest ride-hailing and food delivery firm, on Thursday forecast upbeat 2023 revenue and pulled forward its profitability timeline, betting on strong demand for its services and as cost cuts pay off. Shares of the company, however, fell about 9% on fears of a slower recovery as Grab projected a …

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Hong Kong’s Techtronic denies short-seller’s ‘profit manipulation’ allegations

23 Feb 2023

By Harshita Swaminathan (Reuters) – Hong Kong-listed power tools maker Techtronic Industries Co Ltd on Thursday denied short-seller Jehoshaphat Research’s allegations of profit manipulation and fraudulent accounting practices. In a research report published on its website on Wednesday, Jehoshaphat, which claims to “operate anonymously”, accused the company of “manipulative accounting” and inflating profit for over …

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Softbank-backed doValue flags $55 billion contract pipeline as profit stagnates

23 Feb 2023

(Reuters) – Italy’s doValue said its new contracts to recoup bad loans across southern Europe this year could reach 52 billion euros ($55 billion), after its loan portfolio shrank nearly by a fifth in 2022 due to the loss a key contract in Spain. The Verona-based debt recovery firm on Thursday reported a net profit …

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Netflix cuts prices in some countries to boost subscriptions, shares drop

23 Feb 2023

(Reuters) -Netflix Inc said on Thursday it has cut prices of its subscription plans in some countries as the streaming giant looks to maintain subscriber growth amid stiff competition and strained consumer spending. The stock fell nearly 5%, underperforming the broader market and on course for its worst day in more than two months. The …

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Yellen says U.S. to resume discussions on economic issues with China at ‘appropriate time’

23 Feb 2023

By David Lawder BENGALURU (Reuters) -U.S. Treasury Secretary Janet Yellen said on Thursday the United States would resume discussions with China on economic issues “at an appropriate time” but is continuing to warn Beijing of the consequences of violating U.S. sanctions on Russia. At a news conference ahead of a G20 financial leaders meeting in …

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