A look at the day ahead in European and global markets from Ankur Banerjee: Soft demand and weak economic activity remain a drag on China as the world’s second-biggest economy slowly but surely shakes off its COVID restrictions. The path to reopening is unlikely to be smooth and straight-forward, with some finding it difficult to …
By Laila Kearney NEW YORK (Reuters) -Oil settled lower for a fifth straight session on Thursday on the prospect of a major crude pipeline resuming service, which would return a hefty amount of crude to the market at a time when global economic slowdowns are raising fuel demand fears. Brent crude settled at $76.15 a …
Oil falls on prospect of Keystone resumption, weakening demand Read More »
By Aziz El Yaakoubi and Eduardo Baptista RIYADH (Reuters) -Saudi Arabia and China showcased deepening ties with a series of strategic deals on Thursday during a visit by President Xi Jinping, including one with tech giant Huawei, whose growing foray into the Gulf region has raised U.S. security concerns. King Salman signed a “comprehensive strategic …
Saudi Arabia signs Huawei deal, deepening China ties on Xi visit Read More »
By Herbert Lash NEW YORK (Reuters) – World stocks rose and oil prices initially rebounded on Thursday on hopes that China’s easing of its anti-COVID measures will help restore global supply chains and curb inflation. China’s shift in policy, announced on Wednesday, would allow the country’s economy to pick up pace, state media CCTV quoted …
Stocks rise on hope of revived China demand, oil wobbles Read More »
By Bianca Flowers (Reuters) – Farming and construction machine maker CNH Industrial’s decision to permanently halt construction sales in China was due to declining market share and competition from local companies, the company’s CEO said on Thursday. “We couldn’t see a path of future growth in a market where out brand presence wasn’t strong,” Chief …
CNH Industrial’s CEO sees lack of growth in China’s construction market Read More »
By David Lawder WASHINGTON (Reuters) – Low-income countries will need nearly $500 billion in external financing during the 2022-2026 period, the International Monetary Fund said on Thursday, an increase of about $57 billion from a year-ago estimate due largely to spillovers from Russia’s war in Ukraine. The IMF said in a new policy paper that …
IMF says poor countries need nearly $500 billion in external financing through 2026 Read More »
By Rowena Edwards and Julia Payne LONDON/MOSCOW (Reuters) – Azerbaijan’s state oil firm SOCAR has paused purchases of Russian crude oil for its Turkish refinery, industry sources said, in a sign Western sanctions are starting to hit steady streams outside Europe and the United States. An EU embargo on Russian seaborne crude oil imports took …
Azerbaijan’s SOCAR halts Russian crude supplies to Turkish refinery Read More »
TOKYO (Reuters) -The talks between Renault SA and Nissan Motor Co over alliance restructuring are certain to spill into next year, Bloomberg reported on Thursday, citing people familiar with the matter. The automakers are looking to make announcements toward the end of January, Bloomberg reported. In their talks, Renault is hoping to convince Nissan to …
Renault-Nissan alliance talk certain to spill into new year, sources say -Bloomberg Read More »
By David Shepardson and Karen Freifeld WASHINGTON/NEW YORK (Reuters) – The U.S. Commerce Department will continue to deny three U.S.-based firms’ export privileges, the government announced on Thursday, saying the companies had illegally exported satellite, rocket and defense technology to China. The extension came after new concerns about Quicksilver Manufacturing Inc, Rapid Cut LLC and …
U.S. extends three firms’ export ban over China exports Read More »
By Rodrigo Campos (Reuters) – Foreigners dumped the most cash into emerging market portfolios in November than any month since June 2021 even as Chinese debt continues to see outflows, the Institute of International Finance (IIF) said on Thursday. Overall, foreign investors added $37.4 billion to emerging market portfolios last month, with fixed income attracting …
Emerging markets November foreign inflows most since June 2021 – IIF Read More »
