By Mohammed Salem and Mustafa Abu Ganeyeh MECCA, Saudi Arabia (Reuters) – Thousands of pilgrims started arriving in the holy city of Mecca in Saudi Arabia on Friday, among some one million Muslims expected to attend the 2022 haj pilgrimage season after two years of major disruption caused by the COVID pandemic. Wrapped in white …
Muslim pilgrims flock to Mecca for first post-pandemic haj Read More »
By Herbert Lash NEW YORK (Reuters) – Safe-haven demand strengthened the dollar on Tuesday to levels last seen in 2002 while the euro slumped to two-decade lows as the latest surge in European gas prices fueled recession concerns. The dollar index rose 1.6% at one point and the euro fell as much as 1.75% to …
Euro slumps to two-decade low as recession fears grow Read More »
By Sinéad Carew (Reuters) – The euro sank on Tuesday to its weakest level against the dollar in almost 20 years while oil futures tumbled and bond prices rose as investors sought safety after the latest data heightened fears of a global economic slowdown. Recession fears were exacerbated by concerns about an energy crisis and …
Euro slumps to two-decade low, oil tumbles as recession fears intensify Read More »
By Elizabeth Howcroft (Reuters) – The NFT dream isn’t dead, but it’s taken a big non-fungible beating. The market shone gloriously last year as crypto-rich speculators spent billions of dollars on the risky assets, pumping up prices and profits. Now, six months into 2022, it’s looking ugly. Monthly sales volume on the largest NFT marketplace, …
HONG KONG (Reuters) – Taiwan’s largest pension fund is seeking to hire global asset managers to run a bond portfolio totalling $3 billion. The Bureau of Labour Funds, administering $5.8 trillion ($190 billion) worth of Taiwanese pension assets, started to look for six foreign asset managers on Tuesday, the fund said in a statement. Each …
Taiwan’s largest pension fund hiring managers for $3 billion bond mandate Read More »
LONDON (Reuters) – Britain has reached an agreement with South Korea that will allow businesses to share data with fewer restrictions and no contractual safeguards, the government said on Tuesday. The in-principle deal marks Britain’s first independent data adequacy agreement with a priority country since leaving the European Union, the government added. “Our new agreement …
Britain, South Korea reach data sharing agreement Read More »
(Corrects spelling name of Eco professor from Asqad to Aqdas) ISLAMABAD (Reuters) -Pakistan’s central bank looks set to raise its key policy rate by 125 basis points at its review on Thursday, as it attempts to tackle 13-year high retail inflation, according to the median estimate in a snap poll of 10 economists and market …
Pakistan central bank may raise rates by 125 bps to tame 13-year high inflation Read More »
MOSCOW (Reuters) -Russia’s former president Dmitry Medvedev said on Tuesday a reported proposal from Japan to cap the price of Russian oil at around half its current level would lead to significantly less oil on the market and could push prices above $300-$400 a barrel. Commenting on the proposal, which was reportedly put forward by …
Russia’s Medvedev says oil could top $300-$400 if Japan’s price cap idea implemented Read More »
SINGAPORE (Reuters) – China’s Yantai Port Group started on Monday pumping oil into a newly expanded crude oil pipeline that connects the port of Yantai to a group of independent refineries in the country’s refining hub Shandong, state media reported on Tuesday. The 370-kilometre (229.91 mile) pipeline, with an annual transport capacity of 20 million …
China port group launches major pipeline in oil hub Shandong Read More »
SINGAPORE (Reuters) -Saudi Arabia, the world’s top oil exporter, raised August crude oil prices for Asian buyers to near record levels amid tight supply and robust demand. The official selling price (OSP) for August-loading Arab Light to Asia was raised by $2.80 a barrel from July to $9.30 a barrel over Oman/Dubai quotes, people familiar …
Saudi Arabia sets Aug crude prices to Asia at near-record high – sources Read More »
