By Swati Bhat and Aftab Ahmed MUMBAI/NEW DELHI (Reuters) – The Indian government could consider reducing taxes on some items such as maize and fuel in response to the central bank’s recommendations to help rein in climbing retail inflation, two sources with knowledge of the discussions told Reuters. However, a decision will only be taken …
India may consider fuel, maize tax cuts to cool inflation – sources Read More »
SHANGHAI (Reuters) – The China Semiconductor Industry Association (CSIA), the country’s top chip industry trade group, opposes reported export controls from the United States, Japan and the Netherlands, it said on Wednesday. The restrictions, should they become a reality, “will cause serious harm to the semiconductor industry in China, with detriment to the global economy, …
Chinese chip trade group opposes export controls from U.S., Netherlands, Japan Read More »
TOKYO (Reuters) – Japanese ministries said on Wednesday that advertising giant Dentsu Inc and two other companies linked to a Tokyo 2020 Olympics corruption scandal will be unable to take part in bids for contracts for nine months. Prosecutors last week arrested an ex-Tokyo Olympic official and executives at the three advertising and event-planning firms …
Japan ministries bar Dentsu, others from bids for 9 months over Olympic scandal Read More »
BEIJING (Reuters) – Chinese provinces spent at least 352 billion yuan ($51.6 billion) on COVID-19 containment in 2022, according to annual budget reports from local governments, adding strains to provincial finances in a year when economic growth slowed. Of China’s 31 provinces, regions and municipalities, at least 20 have disclosed their expenditure on fighting the …
Chinese provinces spent at least $51.6 billion on COVID curbs in 2022 Read More »
SEOUL (Reuters) – South Korea’s import prices fell for a third consecutive month in January to bring the annual growth rate down to a near 2-year low, data showed on Wednesday, adding to signs of easing pressure on consumer inflation ahead. The import price index, measured in terms of the won, dropped 2.3% in January …
South Korea Jan import price growth at near 2-year low Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar hit a six-week high against the yen and recovered from a roughly two-week low against a basket of major currencies on Tuesday as data for January showing the smallest annual increase in U.S. consumer prices since October 2021 did not alter market expectations that interest rates …
Dollar hits six-week high vs yen; rises from two-week low after U.S. inflation data Read More »
By Shariq Khan BENGALURU (Reuters) -Oil prices settled more than 1% lower on Tuesday after the United States said it would boost supply in the market by releasing more crude from its Strategic Petroleum Reserve. On Monday, the U.S. Department of Energy (DOE) said it would sell 26 million barrels of oil from the SPR, …
Oil settles 1% lower as market braces for more supply from U.S. reserve Read More »
LAHORE, Pakistan (Reuters) – Pakistanis are queuing for hours to grab coffee and pastries from Canadian chain Tim Hortons, which opened its first outlet in the South Asian country this week just as its economic crisis took a turn for the worse. In less than a month, Pakistan’s currency has lost more than a quarter …
Coffee trumps economic crisis as Tim Hortons opens in Pakistan Read More »
By Alex Lawler LONDON (Reuters) -OPEC has raised its 2023 global oil demand growth forecast in its first upward revision for months, due to China’s relaxation of COVID-19 restrictions, and trimmed supply forecasts for Russia and other non-OPEC producers, pointing to a tighter market. Global oil demand will rise this year by 2.32 million barrels …
OPEC raises 2023 oil demand growth view, points to tighter market Read More »
SHANGHAI/PARIS (Reuters) – LVMH’s top fashion brand Louis Vuitton is expected to increase prices in China by as much as 20%, as luxury labels bank on a strong rebound of Chinese demand following the easing of COVID-19 lockdowns. Louis Vuitton, the world’s biggest luxury brand, last February led the way to a string of price …
Louis Vuitton expected to raise prices as much as 20% in China Read More »
