TOKYO (Reuters) – Japan will take time to phase out Russian oil imports after agreeing on a ban with other Group of Seven (G7) nations to counter Moscow’s invasion of Ukraine, Prime Minister Fumio Kishida said on Monday. The G7 nations committed to the move “in a timely and orderly fashion” at an online meeting …
Japan to take time phasing out Russian oil imports, says PM Kishida Read More »
By Sam Nussey TOKYO (Reuters) – Japan’s SoftBank Group Corp is set to report a bruising loss at its Vision Fund investment unit on Thursday, analysts said, after investors sold off the high-growth stocks favoured by the fund with questions about their earnings potential. With the technology investor poised to post full-year earnings, comments from …
SoftBank seen posting bruising Vision Fund loss on tech sell-off Read More »
SHANGHAI (Reuters) – China’s banking and insurance regulator recently asked banks and insurers to develop pension financial services and invest the funds in areas in line with national strategies and industrial policies, the official Shanghai Securities News reported on Monday. The move comes as China launched its first private pension scheme last month, as it …
China asks banks, insurers to develop pension financial services – paper Read More »
By Min Zhang and Dominique Patton BEIJING (Reuters) – A slump in Chinese iron ore imports extended into April, as suppliers struggled with disruptions while a COVID outbreak suppressed demand. The world’s top iron ore consumer took in 86.06 million tonnes of the material in April, 12.7% less than a year earlier, implying ongoing weak …
China’s iron ore import slump extends into April – customs Read More »
How to dampen inflation without slamming the brakes on growth? That’s the tricky job central banks face. But as others grapple with soaring prices, we will see how hard China’s COVID lockdowns are snarling up trade and slowing its economy. And another complication — M&A deals worth over $400 billion are waiting for financing, but …
By Yoruk Bahceli (Reuters) – Already sitting on double-digit losses this year, stock market investors must brace for more, as the realisation sinks in that the U.S. Federal Reserve intends to tighten financial conditions to get on top of red-hot inflation. Essentially, financial conditions measure how easily households and businesses can access credit, so are …
Analysis: Markets must face up to tightening financial conditions Read More »
By Savyata Mishra and Indranil Sarkar (Reuters) -Australia’s Westpac Banking Corp said on Monday it was on track to meet its expense targets by 2024 even as inflation drives peers to abandon their cost-cut plans, while the lender’s half-year earnings beat estimates, sending its shares 3% higher. The country’s third-largest bank forecast second-half costs for …
Westpac maintains 2024 cost target, profit tops estimates Read More »
By Fransiska Nangoy and Stefanno Sulaiman JAKARTA (Reuters) -An historic rise in commodity prices and reopening of the economy from COVID-19 curbs helped Indonesia stay on a recovery path in the first quarter, but analysts say headwinds are growing from global monetary tightening and the war in Ukraine. Southeast Asia’s largest economy grew 5.01% in …
Indonesia’s economy stays on growth path in Q1 as price pressures loom Read More »
By Uditha Jayasinghe COLOMBO (Reuters) -The China-backed Asian Infrastructure Investment Bank is considering granting $100 million in emergency support to Sri Lanka, the country’s finance ministry said on Sunday. Sri Lanka has requested foreign-exchange liquidity support for state banks from the lender, it said in a statement. Hit hard by the pandemic, rising oil prices …
Sri Lanka in talks for $100 million emergency funding from Beijing-backed bank Read More »
By Helen Reid and Clara Denina JOHANNESBURG (Reuters) – The need to secure new sources of metals for the energy transition amid sanctions on top producer Russia has increased the Africa risk appetite for major miners, who have few alternatives to the resource-rich continent. Companies and investors are considering projects they may have previously overlooked, …
Global scramble for metals thrusts Africa into mining spotlight Read More »
