By Gayatri Suroyo and Fransiska Nangoy JAKARTA (Reuters) – Indonesia’s central bank announced on Tuesday more aggressive hikes in the reserve requirement ratio (RRR) for banks, expecting inflation to rise slightly above its target band this year, but kept interest rates unchanged at a record low. Bank Indonesia (BI) announced a quicker pace in RRR …
Indonesia central bank holds rates, to lift RRR more aggressively Read More »
By Sheila Dang (Reuters) -Snap Inc said the economy had worsened faster than expected in the last month and the social media company slashed its quarterly forecast, triggering an after-hours sell-off. Since late April, “the macroeconomic environment has deteriorated further and faster than anticipated. As a result, we believe it is likely that we will …
Snap says economy deteriorated fast, slashes forecast, stock plummets Read More »
LONDON (Reuters) – Rising borrowing costs and the global fallout of the Russia-Ukraine war could see up to 10% of riskier, ‘junk’-rated emerging market countries suffer debt crises this year, analysts at U.S. investment bank JPMorgan have warned. More acute balance of payment pressures and larger fiscal deficits are now compounding problems for heavily-indebted countries …
JPMorgan warns 10% of junk-rated emerging markets face debt crises Read More »
JAKARTA (Reuters) – Indonesia will remove its subsidy on bulk cooking oil after May 31 and replace it with a domestic price obligation on the raw materials used to produce it, an official told a parliamentary hearing on Tuesday. Putu Juli Ardika, Director General for agriculture at the Industry Ministry, was speaking a day after …
JAKARTA (Reuters) – Indonesia’s central bank has introduced more hikes for banks’ reserve requirement ratio (RRR), telling banks to park 7.5% of their reserves starting July and 9% from September, governor Perry Warjiyo told a news conference on Thursday. This is more aggressive than Bank Indonesia’s previously announced policy path for RRR, in which BI …
By Phuong Nguyen and Kevin Krolicki (Reuters) – Vietnam’s VinFast is shifting its headquarters to Singapore as the fledgling electric vehicle (EV) maker readies for a public listing and the first production run of cars for U.S. and European markets, its chief executive told Reuters. The three-year-old unit of conglomerate Vingroup JSC will start building …
Vietnam EV maker VinFast to shift HQ to Singapore ahead of IPO, first exports Read More »
BEIJING (Reuters) – China’s financail regulators pledged to keep property sector credit growth stable and support individuals affected by COVID-19 outbreaks, the central bank said in a statement on Tuesday. Official data showed that yuan loan growth tumbled in April while household loans, including mortgages, contracted by 217 billion yuan. (Reporting by Stella Qiu and …
China regulators aim to keep property sector credit growth stable Read More »
BEIJING (Reuters) – A leading entrepreneur in China who had questioned the wisdom of the country’s zero-COVID strategy was banned from posting on Weibo, with the social media platform accusing Trip.com co-founder James Liang of violating laws. Weibo, a platform similar to Twitter, did not specify which laws Liang had broken, and it was unclear …
China’s Weibo bans Trip.com co-founder who questioned zero-COVID strategy Read More »
BANGKOK (Reuters) – Thailand’s inflation is still relatively low and manageable as the economy recovers gradually and more foreign tourists return, the finance minister said on Tuesday. A planned tax on securities trades will have to wait until the economy is stable, Arkhom Termpittayapaisith told reporters. (Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing …
Thai inflation still low, manageable – Finance Minister Read More »
By Jeffrey Dastin and Dmitry Zhdannikov DAVOS, Switzerland (Reuters) -Palantir Technologies Inc and global commodities trader Trafigura have set sights on a new market, their chief executives told Reuters on Monday: tracking carbon emissions for the oil, gas, refined metals and concentrates sector. The companies are building a platform for oil majors and other commodities …
Palantir, Trafigura aim to track carbon emissions for the oil, metals industry Read More »
