By Stephanie Kelly NEW YORK (Reuters) -Oil prices fell 2% on Friday in thin market liquidity, closing a week marked by worries about Chinese demand and haggling over a Western price cap on Russian oil. Brent crude futures settled down $1.71, or 2%, to trade at $83.63 a barrel, having retraced some earlier gains. U.S. …
Oil prices fall 2% as Chinese demand worries linger Read More »
By Gibran Naiyyar Peshimam ISLAMABAD (Reuters) – Pakistan’s central bank unexpectedly raised its key policy rate by 100 basis points to 16% on Friday to ensure high inflation does not get entrenched. The move brings the State Bank of Pakistan’s (SBP) 2022 hikes to 625 basis points. It kept the rate unchanged at its last …
Pakistan central bank lifts key rate in surprise move on inflation Read More »
BEIJING (Reuters) -Chinese food delivery giant Meituan reported on Friday better than expected quarterly revenue growth of 28.2% as the company recovered from COVID-19 curbs. Meituan, whose services also include restaurant reviews and bike-sharing, said total revenue rose to 62.62 billion yuan ($8.74 billion) in the three months ended September, compared with analysts’ average estimate …
China’s Meituan beats quarterly revenue estimates Read More »
By Julie Zhu and Engen Tham HONG KONG/SHANGHAI (Reuters) -China’s central bank will offer cheap loans to financial firms for buying bonds issued by property developers, four people with direct knowledge of the matter said, the strongest policy support yet for the crisis-hit sector. The People’s Bank of China (PBOC) hopes the loans will boost …
Exclusive-China central bank to offer cheap loans to support developers’ bonds-sources Read More »
TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda will receive a meagre 0.4% pay rise in 2022 after two years of cuts, the central bank said on Friday, even as he has stressed the need for higher wages to sustainably meet the central bank’s inflation target. The 0.4% pay rise for the current fiscal …
BOJ’s Kuroda gets meagre pay bump even as he stresses need for higher wages Read More »
SHANGHAI (Reuters) – China launched a private pension scheme in 36 cities on Friday as it grapples with a rapidly ageing population. The move marked the official launch of the third pillar of China’s pension system, with the first batch of cities including Beijing, Shanghai, Guangzhou and Chengdu, the Ministry of Human Resources and Social …
China rolls out private pension scheme in 36 cities Read More »
TOKYO (Reuters) -Tokyo prosecutors raided the headquarters of ad agency Dentsu Inc and an events company on Friday, part of a widening scandal into corruption during the Tokyo 2020 Olympics. The companies are being investigated on suspicion of rigging bids for contracts related to Olympics test events, public broadcaster NHK and other domestic media reported. …
Tokyo prosecutors raid ad giant Dentsu as Olympics scandal widens Read More »
By Nia Williams (Reuters) -Benchmark Brent oil edged lower on Thursday while West Texas Intermediate (WTI) crude held steady, hovering in sight of two-month lows as the level of a proposed G7 cap on the price of Russian oil raised doubts about how much it would limit supply. A bigger-than-expected build in U.S. gasoline inventories …
Oil muted as price cap proposal eases supply concerns Read More »
By Yuka Obayashi and Miho Uranaka TOKYO (Reuters) – Nippon Steel Corp, the world’s No.4 steelmaker, is looking to buy more stakes in coking coal mines to secure stable supply of the key steel-making ingredient, its executive said. Japan’s biggest steelmaker already owns stakes in several coking coal mines and iron ore mines, procuring about …
Nippon Steel eyes more stakes in coking coal mines to secure stable supply Read More »
By Foo Yun Chee BRUSSELS (Reuters) – Microsoft is likely to face an EU antitrust investigation as regulators intensify their scrutiny into its practices in a case triggered by Salesforce.com’s workspace messaging app Slack, people familiar with the matter said on Thursday. Last year, Slack complained to the European Commission, saying that Microsoft has unfairly …
Exclusive-EU antitrust regulators ramp up Microsoft scrutiny, probe likely – sources Read More »
