By Nidhi Verma and Gavin Maguire NEW DELHI (Reuters) – There’s a split emerging in India’s refining sector as private refiners tap cheap Russian crude and boost profits from exports just as domestically focused state refiners get squeezed by high oil costs and government-capped domestic fuel prices. While many Western buyers are avoiding Russian crude …
BEIJING (Reuters) – Net profits at China’s central government owned firms in January-April rose 5.6% from a year earlier, data from the State-owned Assets Supervision and Administration Commission showed on Wednesday. That has slowed from a 13.7% growth in the first three months this year as China’s economy was hit hard by the stringent virus …
Net profits of China’s centrally-owned SOEs up 5.6% in Jan-April Read More »
A look at the day ahead in markets from Sujata Rao. From Wednesday, the U.S Federal Reserve starts allowing the bonds it holds to mature, and will no longer replace them — so called quantitative tightening (QT). Its aim is to allow $95 billion to roll off its balance sheet per month but it will …
BANGKOK (Reuters) – Thailand is expected to meet its revenue collection targets for the 2022 and 2023 fiscal years, helped by increased exports and a recovery in tourism, the finance minister said on Wednesday. Annual export growth of 12-15% in the first four months of this year was “satisfactory”, Arkhom Termpittayapaisith told the House of …
Thailand to meet revenue collection target this year and next – Finance Minister Read More »
KARACHI, Pakistan (Reuters) -Pakistan’s consumer price index (CPI) rose 13.8% in May from a year earlier, the country’s statistics bureau said on Wednesday, the highest pace in over two years. That compared with a rise of 13.4% in April from a year earlier. The CPI increased 0.4% in May from the previous month. The inflation …
Pakistan’s consumer prices rise 13.8% in May – statistics bureau Read More »
LONDON (Reuters) – Major Credit Suisse shareholder Harris Associates sees no need for the Swiss bank to raise fresh equity capital, it said on Tuesday after Reuters reported the bank was weighing options to shore up its balance sheet. “Given the strength of their balance sheet today, we agree with the company’s statement that no …
Shareholder Harris says Credit Suisse doesn’t need equity rise Read More »
By Oliver Hirt ZURICH (Reuters) – Credit Suisse is in the early stages of weighing options to bolster its capital after a string of losses has eroded its financial buffers, two people with knowledge of the matter told Reuters. The size of the increase would be likely to exceed 1 billion Swiss francs ($1.04 billion), …
Exclusive-Credit Suisse weighs options to strengthen capital – sources Read More »
By Chibuike Oguh NEW YORK (Reuters) -Global equity markets dipped while U.S. Treasury yields rose sharply on Tuesday as investors weighed the prospects of higher inflation following a phased ban of Russian oil imports by the European Union that has lifted crude prices to new highs. EU leaders agreed in principle to cut 90% of …
Global stocks fall, U.S. yields rise as oil prices reach new highs Read More »
By David Shepardson WASHINGTON (Reuters) – U.S. Commerce Secretary Gina Raimondo said on Tuesday the Biden administration is actively considering adding new Chinese companies to the government’s economic blacklist as it investigates what it calls efforts by China to evade U.S. sanctions. The Commerce Department’s Entity List restricts access to U.S. exports. Raimondo told reporters …
U.S. investigates Chinese companies over export sanction issues Read More »
(Reuters) – Meta Platforms Inc said on Tuesday its Class A common stock will begin trading on the Nasdaq under the ticker symbol ‘META’ prior to market open on June 9, replacing its current ticker symbol ‘FB’. The company changed its name from Facebook Inc to Meta Platform Inc in October last year in a …
Meta Platforms to trade under ‘META’ ticker from June 9 Read More »
