Reuters Asia Business

Taiwan central bank says rate rises will depend on inflation, will be ‘cautious’

13 Apr 2022

By Liang-sa Loh TAIPEI (Reuters) -Taiwan central bank governor Yang Chin-long said on Wednesday inflation would slow by the third quarter and any rate rise decisions would depend on consumer price data, but the bank would be very cautious on the pace of tightening. In a surprise move last month, the central bank raised its …

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China’s trade with Russia slows but still beats overall growth

13 Apr 2022

BEIJING (Reuters) -China’s overall trade with Russia rose over 12% in March from a year earlier, slowing from February but still outpacing the growth in China’s total imports and exports, as Beijing slammed Western sanctions on Russia following its invasion of Ukraine. Shipments to and from Russia increased 12.76% in March to $11.67 billion, Chinese …

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Diversifying supply chains from China ‘probably good for everyone’ -World Bank chief

12 Apr 2022

By Andrea Shalal and David Lawder (Reuters) – Countries around the world are working to diversify their supply chains and reduce their dependence on China, which is “probably good for everyone,” World Bank President David Malpass said on Tuesday. Malpass said cross-border trade would remain important to the global economy, and China – already the …

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Dollar rebounds as Brainard assures markets Fed will stay the course

12 Apr 2022

By Hannah Lang WASHINGTON (Reuters) -The dollar rebounded on Tuesday after digesting slightly softer-than-expected U.S. inflation data, while the euro extended losses ahead of a policy-setting meeting at the European Central Bank. Federal Reserve Governor Lael Brainard said on Tuesday that there were some signs of “welcome” cooling in the latest inflation readout, but emphasized …

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World Bank to send Ukraine $1.5 billion as food, energy prices spike

12 Apr 2022

By David Lawder and Andrea Shalal (Reuters) -The World Bank is preparing a $1.5 billion support package for war-torn Ukraine and plans to aid developing countries struggling to keep up with surging food and energy prices, World Bank President David Malpass said on Tuesday. In remarks at the Warsaw School of Economics in Poland, Malpass …

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Global stocks pare gains, bond yields slip on inflation data

12 Apr 2022

By Katanga Johnson WASHINGTON (Reuters) -Global equities reversed earlier gains on Tuesday, while U.S. Treasury yields slipped as data showing a jump in U.S. inflation was in line with expectations gave investors some relief. The U.S. consumer price index rose 1.2% last month, the biggest increase in 16-1/2 years and cementing the case for a …

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Sri Lanka unilaterally suspends external debt payments, says it needs money for essentials

12 Apr 2022

By Uditha Jayasinghe and Jorgelina do Rosario COLOMBO/LONDON (Reuters) -Sri Lanka’s central bank said on Tuesday it had become “challenging and impossible” to repay external debt, as it tries to use its dwindling foreign exchange reserves to import essentials like fuel. The island nation’s reserves have slumped more than two-thirds in the past two years, …

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Honda to spend $64 billion on R&D as it revs up electric ambitions

12 Apr 2022

By Satoshi Sugiyama and Maki Shiraki TOKYO (Reuters) – Japan’s Honda Motor Co Ltd plans to spend $64 billion on research and development over the next decade, the company said on Tuesday, laying out an ambitious target to roll out 30 electric vehicle models globally by 2030. Its goals include producing some 2 million electric …

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Exclusive – Franchise Group joins bidding for Kohl’s – sources

12 Apr 2022

By Svea Herbst-Bayliss (Reuters) – Franchise Group Inc, owner and operator of retail stores such as The Vitamin Shoppe and Buddy’s Home Furnishings, has entered the race for Kohl’s Corp with a $9 billion indicative offer, three people familiar with the matter said. Franchise Group has informed Kohl’s it would be willing to pay $69 …

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