By Stephanie Kelly NEW YORK (Reuters) -Oil prices rose more than 1% on Monday, with Brent crude topping $114 a barrel, as outages in Libya deepened concern over tight global supply amid the Ukraine crisis. Adding to supply pressures from sanctions on Russia, Libya’s National Oil Corp on Monday said “a painful wave of closures” …
Oil rises over 1% as Libya outages add to Russia supply fears Read More »
By Kevin Yao and Stella Qiu BEIJING (Reuters) – China’s economy slowed in March as consumption, real estate and exports were hit hard, taking the shine off faster-than-expected first-quarter growth numbers and worsening an outlook already weakened by COVID-19 curbs and the Ukraine war. The biggest near-term challenge for Beijing is the tough new coronavirus …
China Q1 GDP tops forecast, but March weakness raises outlook risks Read More »
(Reuters) – Ant Group, the fintech unit of China’s Alibaba Group, is set to become the majority investor in Singapore-based payments platform 2C2P as part of a partnership, the companies on Monday. The deal will lead to the integration of Ant’s Alipay+ payment service with 2C2P’s platform used by merchants in Asia, Europe, the Middle …
China’s Ant Group to take up majority ownership of payments platform 2C2P Read More »
By David Lawder and Andrea Shalal WASHINGTON (Reuters) -The World Bank is reducing its global growth forecast for 2022 by nearly a full percentage point, to 3.2% from 4.1%, due to the impacts from Russia’s invasion of Ukraine, World Bank President David Malpass said on Monday. Malpass told reporters on a conference call that the …
World Bank says war to cut global growth, boosts financing target Read More »
(Corrects company RICs) BEIJING (Reuters) – Shanghai’s market regulator said on Monday it had summoned 12 e-commerce platforms including Meituan and eleme.me over topics including price gouging during the epidemic. Platforms were told to improve their management of delivery riders, and stop behaviours such as improper price increases by riders, the regulator said on its …
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda said on Monday the yen’s recent moves had been “quite sharp” and could hurt companies’ business plans, offering his strongest warning to date of the risks stemming from the currency’s depreciation. Kuroda said there was no change in his assessment …
BOJ’s Kuroda says yen’s ‘quite sharp’ moves may hurt businesses Read More »
By Gayatri Suroyo and Stefanno Sulaiman JAKARTA (Reuters) – Indonesia’s exports and imports hit record highs in March amid commodity price rises due to the impacts of the Ukraine war, helping the resource-rich country book a larger-than-expected trade surplus, statistics bureau data showed on Monday. March exports from Indonesia were worth $26.5 billion, up 44.36% …
Indonesia March exports, imports hit record highs amid commodity boom Read More »
SHANGHAI (Reuters) – Volkswagen Group China said on Monday its factories in the northeastern Chinese city of Changchun, which it runs via a joint venture with China’s FAW Group, have gradually resumed prodution as the city eases COVID curbs. It said it was still studying the feasibility of resuming production at its plant in Shanghai, …
Volkswagen China says its plants in Changchun resume production Read More »
SHANGHAI (Reuters) – Manufacturers including Tesla on Monday began preparing to reopen their Shanghai plants as China’s most populous city speeds up efforts to get back to normal after a nearly three-week COVID shutdown. The shutdown and measures to control the pandemic elsewhere in the country have hurt the economy and rattled global supply chains. …
Shanghai factories struggle with restarts as city aims to ease lockdown Read More »
SHANGHAI (Reuters) -China stocks closed down on Monday, with investors disappointed about a smaller-than-expected cut in the reserve requirement ratio (RRR) that many felt might not be enough to reverse a sharp economic slowdown. Unexpectedly strong gross domestic product data for the first quarter of 2022 failed to lift the market, with analysts saying the …
China stocks fall on COVID concerns, reserve ratio cut disappoints Read More »
