By Ariba Shahid and Asif Shahzad KARACHI, Pakistan (Reuters) – The Pakistani rupee fell by 1.2% on Wednesday after foreign exchange companies removed a cap on the currency, saying it was creating “artificial” distortions in the market as the South Asian country struggles to escape a deepening economic crisis. Pakistan is battling to meet its …
Pakistani rupee falls after market maker group removes currency cap Read More »
MUMBAI (Reuters) – India’s central government’s gross market borrowings for 2023/24 could come in below market expectations as a pool of securities raised to compensate states for a shortfall in goods and services tax may not be rolled over, a few economists said. However, there are chances of the central bank paying the government a …
India’s FY24 gross borrowing could be less than expected -economists Read More »
BANGKOK (Reuters) – The following is a statement from the Bank of Thailand after it unanimously raised its key interest rate by 25 basis points to 1.50% on Wednesday, as expected by economists in a Reuters poll. Piti Disyatat, Secretary of the Monetary Policy Committee (MPC), announced the outcome of the meeting on Jan. 25, …
Thai central bank hikes key interest rate by 25 bps Read More »
OSLO (Reuters) – Norway’s sovereign wealth fund, the world’s largest, said on Tuesday it has excluded China’s AviChina and India’s Bharat Electronics from its portfolio. The two were excluded due to “unacceptable risk that (the) companies are selling weapons to a state that uses these weapons in ways that constitute serious and systematic breaches of …
Norway sovereign wealth fund excludes AviChina, Bharat Electronics Read More »
By Herbert Lash and Alun John NEW YORK/LONDON (Reuters) – U.S. stock indexes were little changed, as was the dollar, on Tuesday after companies posted some profit beats but also warned of a tough year ahead, while data showed U.S. business activity contracted for a troubling seventh straight month in January. S&P Global’s Flash U.S. …
Stocks, dollar mostly flat on soft data, corporate outlooks Read More »
By Dan Burns and Jonathan Cable NEW YORK/LONDON (Reuters) – The downturn in U.S. business activity eased slightly in January even as it contracted for the seventh straight month while euro zone business activity made a surprise return to modest growth, as two of the world’s major economies hope to avert recession this year, surveys …
U.S business activity downturn eases slightly; euro zone back to growth Read More »
By Alessandro Diviggiano SANYA, China (Reuters) -Sophia Ong, owner of a small eatery in China’s tourist beach hotspot Sanya, thought she would be ideally placed to reap the benefits of the country scapping its zero-COVID policy in December last year. After almost three years of intermittent lockdowns and financial turmoil, Ong, who also owned a …
In China’s tourist hotspot Sanya, small vendors rue lukewarm recovery Read More »
By Lisa Pauline Mattackal and Medha Singh (Reuters) – Paranoid? The domino downfall of FTX and other crypto custodians is enough to make the most trusting investor grab their bitcoin and shove it under the mattress. Indeed, holders big and small are taking “self-custody” of their funds, moving them from crypto exchanges and trading platforms …
By Devjyot Ghoshal and Uditha Jayasinghe NEW DELHI/COLOMBO (Reuters) -The Export-Import Bank of China has offered Sri Lanka a two-year moratorium on its debt and said it would support the country’s efforts to secure a $2.9 billion loan from the International Monetary Fund, according to a letter reviewed by Reuters. Regional rivals China and India …
China offers Sri Lanka debt moratorium, IMF help still in doubt Read More »
By Akash Sriram (Reuters) – Tesla Inc on Wednesday is expected to report the slowest sales growth in 10 quarters on underwhelming deliveries, days after its move to stir demand and choke competition by slashing prices on its electric cars. The company’s margins will be hit though as Tesla looks to squash competition from traditional …
Tesla’s slowing sales, shrinking margins in focus in EV price war Read More »
