By Ruma Paul DHAKA (Reuters) -Bangladesh raised fuel prices by around 50% on Saturday, a move that will trim the country’s subsidy burden but put more pressure on inflation that is already running above 7%. The South Asian country’s $416 billion economy has been one of the fastest-growing in the world for years. However, soaring …
Bangladesh announces fuel price jump, stokes inflation fears Read More »
By Nupur Anand MUMBAI (Reuters) -India’s financial crime-fighting agency said on Friday it had frozen the assets of WazirX, linked to the world’s largest digital currency exchange Binance, as part of its investigation into suspected violation of foreign exchange regulations. The federal Enforcement Directorate (ED) said that it froze assets worth 646.70 million rupees ($8.16 …
By Stephen Culp NEW YORK (Reuters) – The S&P 500 headed lower, Treasury yields advanced and the dollar rose on Friday after the U.S. July employment report blasted past expectations, raising the odds of continued monetary tightening from the Federal Reserve. Wall Street pared losses as the session progressed. At close, the Nasdaq joined the …
S&P 500 dips, Treasury yields rise and dollar rallies following robust U.S. jobs report Read More »
By Laura Sanicola (Reuters) -Oil prices settled higher on Friday, recouping some of this week’s losses on strong U.S. job growth data, but closed the week at their lowest levels since February, rattled by worries a recession could hit fuel demand. Brent crude settled up 80 cents to $94.92 a barrel, 11% off last Friday’s …
Oil prices end week on multi-month lows on recession fears Read More »
By Caroline Valetkevitch NEW YORK (Reuters) – The dollar rallied across the board on Friday, notching its biggest daily percentage gain since mid-June against the yen, after a stronger-than-expected U.S. payrolls report suggested the Federal Reserve may need to continue aggressively raising interest rates in the near term. The U.S. dollar index, which measures the …
U.S. dollar posts broad gains after unexpectedly strong jobs data Read More »
MUMBAI (Reuters) -Indian digital payments firm Paytm on Friday reported a wider first-quarter loss as expenses related to marketing and employee benefits rose, but reiterated its target of achieving operational profitability next year. The company’s parent firm One 97 Communications Ltd posted a consolidated net loss for Paytm of 6.45 billion rupees ($81.28 million) for …
By Uditha Jayasinghe and Channa Kumara COLOMBO (Reuters) – Sri Lanka is considering a restructure of local and sovereign debt, President Ranil Wickremesinghe said on Friday, as the island nation battles its worst financial crisis in its independent history. The country is due to restart bailout talks with the International Monetary Fund (IMF) in August …
Sri Lanka considering restructure of local and sovereign debt – president Read More »
By Anirban Sen and Greg Roumeliotis (Reuters) – The banks that agreed to finance Elon Musk’s $44 billion acquisition of Twitter Inc have a financial incentive to help the world’s richest person walk away but would face long legal odds, according to people close to the deal and corporate law experts. Twitter has sued Musk …
(Reuters) – The United Arab Emirates intends to invest $1 billion in Pakistani companies across various sectors, state news agency (WAM) reported citing an official source in Abu Dhabi. The UAE is keen to continue cooperation with Pakistan “in various fields, which include gas, energy infrastructure, renewable energy, health care,” the agency added. (Reporting by …
UAE to invest $1 billion in Pakistani companies – state news agency Read More »
(Reuters) – Talk of changes to the Bank of England’s powers has revived a debate on whether central banks should be independent of governments and in what way. Central bankers are tasked with preserving the value a currency by keeping inflation in check. For this purpose many of them are shielded from political pressure from …
