BEIJING (Reuters) – China’s interest rate regulatory body is encouraging smaller banks to lower the ceiling on deposit rates by 10 basis points, two sources with direct knowledge of the matter said on Friday. Under the guidance shift, smaller lenders would set a ceiling on time deposits of 65 basis points above the benchmark rate, …
China urges smaller banks to lower deposit rate ceiling by 10 bps – sources Read More »
By Guy Faulconbridge LONDON (Reuters) – Moody’s said Russia may be in default because it tried to service its dollar bonds in roubles, which would be one of the starkest consequences to date of Moscow’s exclusion from the Western financial system since President Vladimir Putin’s invasion of Ukraine. If Moscow is declared in default, it …
By Leika Kihara and Takahiko Wada TOKYO (Reuters) -The Bank of Japan (BOJ) is likely to raise its inflation forecast for this fiscal year to near 2% at this month’s policy meeting as global commodity inflation drives up energy and food costs, said three sources familiar with the bank’s thinking. While the upgrade will bring …
BOJ likely to raise inflation forecast near 2%, vow to keep easy policy – sources Read More »
(Reuters) – Russian potash producer Uralkali said it asked holders of its 2024 Loan Participation Notes (LPN) to contact it to discuss alternative options for a coupon payment due on April 22. Many Russian companies have struggled to service their debt due to Western sanctions imposed on Russia for what Moscow calls its “special military …
Russia’s Uralkali seeks ‘alternative options’ to pay April Eurobond coupon Read More »
SHANGHAI (Reuters) – SAIC Motor Corp, the Chinese partner of Volkswagen and General Motors, said on Friday it is preparing to resume production at its factories in Shanghai in line with the city’s COVID prevention requirements. The Shanghai government-controlled automaker said the timing of the production resumption is subject to change in line with the …
China’s SAIC Motor prepares to resume Shanghai production in line with COVID policies Read More »
By Josh Horwitz and Sarah Wu SHANGHAI/TAIPEI (Reuters) – Shipments of some Apple products, as well as Dell and Lenovo laptops are likely to face delays if China’s COVID-19 lockdowns persist, analysts said, as curbs force assemblers to shut down and closed-loop arrangements get harder to maintain. China’s race to stop the spread of COVID-19 …
Apple, others face shipment delays as China COVID curbs squeeze suppliers – analysts Read More »
TOKYO (Reuters) – Alternatives for Russian thermal coal are difficult to find as the market is getting tighter, the head of a group representing Japanese utilities said on Friday. “We want the government to provide maximum support (on the issue),” Kazuhiro Ikebe, the chairman of Japan’s federation of electric utilities, told a news conference. The …
Tough to find alternatives for Russian thermal coal, says Japan utilities group head Read More »
By Mei Mei Chu KUALA LUMPUR (Reuters) -Italian confectionary giant Ferrero said it will stop sourcing palm oil from Sime Darby Plantation after the United States found the Malaysian planter used forced labour, in a reputational blow for the palm producer and for Malaysia. Labour practices across the Southeast Asian country have come under scrutiny …
BEIJING (Reuters) -China’s banking sector’s non-performing loan (NPL) ratio was at 1.79% at the end of March, down 0.03 percentage points from the start of the year, the country’s banking and insurance regulator said on Friday. Outstanding NPLs totalled 3.7 trillion yuan ($580.54 billion) at the end of the first quarter, Wang Zhaodi, spokesperson of …
China’s banking sector NPL ratio eased to 1.79% at end-March – regulator Read More »
By Greg Roumeliotis, Uday Sampath Kumar and Chavi Mehta (Reuters) – Billionaire entrepreneur Elon Musk took aim at Twitter Inc with a $43 billion cash takeover offer on Thursday, with the Tesla CEO saying the social media company needs to be taken private to grow and become a platform for free speech. “I think it’s …
Musk makes $43 billion offer for Twitter to build ‘arena for free speech’ Read More »
