By Noel Randewich and Bansari Mayur Kamdar (Reuters) – Wall Street ended sharply lower on Monday as investors fretted about a U.S. Federal Reserve gathering later this week in Jackson Hole, Wyoming, that is expected to reinforce a strong commitment by the central bank to stamp out inflation. All 11 S&P 500 sector indexes declined, …
Wall Street ends sharply lower on fears of aggressive Fed Read More »
By Hadeel Al Sayegh DUBAI (Reuters) – Gulf buy now, pay later (BNPL) firm Tamara said on Monday it raised $100 million in a second round of fundraising from investors including Sanabil Investments, which is owned by Saudi Arabia’s sovereign wealth fund PIF. The series ‘B’ funding would support the Saudi-based startup to expand into …
Gulf buy now, pay later firm Tamara says it raised $100 million Read More »
SYDNEY (Reuters) – Australia said on Monday it would do a virtual stocktake of the country’s cryptocurrency holdings, the first signal from the new centre-left government that it plans to regulate the $1 trillion sector. Treasurer Jim Chalmers said that his department would undertake “token mapping”, or cataloging the types and uses of digital currency …
Australian govt embarks on crypto stocktake ahead of sector regulation Read More »
By Lucy Craymer WELLINGTON (Reuters) – New Zealand’s government said on Monday it had transferred Kiwibank’s assets to a new state-owned company, since the lender no longer fit within the long-term plans for two state entities that currently own it. Kiwibank, which is New Zealand fifth-largest retail bank, was owned by state-owned entities New Zealand …
New Zealand’s government transfers Kiwibank assets to new company Read More »
(Reuters) – A look at the day ahead in Asian markets from Jamie McGeever Asia’s corporate and macro calendars are remarkably light on Monday, allowing investors to look squarely toward three regional central bank policy decisions later in the week, and more importantly, Jackson Hole. Federal Reserve Chair Jerome Powell will deliver his keynote address …
China to ease again, Jackson Hole looms into view Read More »
HONG KONG (Reuters) – Casino operator MGM China Holding said it will inject 4.8 billion patacas ($594 million) into its MGM Grande Paradise unit as it prepares to re-tender for a licence to operate its gaming business in Macau. Under the terms of a revised gaming law released by Macau’s legislature earlier this year, a …
MGM China to inject $594 million into Macau unit to re-tender for casino license Read More »
By Lewis Krauskopf NEW YORK (Reuters) -The rebound in U.S. stocks is gaining believers among investors who study market trends, bolstering hopes for equities in the second half of 2022. After notching its worst first half since 1970, the S&P 500 has bounced some 15% from its mid-June low, fueled by stronger-than-expected corporate earnings and …
Summer rebound in U.S. stocks gains fans among chart-watching investors Read More »
BERLIN (Reuters) – Volkswagen’s sportscar brand Porsche expects to produce as many units of its Macan model in the electric version as the original with combustion engine, production chief Albrecht Reimold told magazine Automobilwoche. “We produce more than 80,000 units of today’s generation, and in the long term we also plan to produce as many …
Porsche expects to make as many electric Macans as combustion versions Read More »
By Hadeel Al Sayegh DUBAI (Reuters) – Dubai’s Emaar Properties said on Saturday it is selling fashion e-commerce venture Namshi to Noon, an e-commerce company backed by Dubai billionaire Mohamed Alabbar and Saudi Arabian sovereign fund the Public Investment Fund (PIF). Emaar said in a bourse filing its board has in principle approved the sale, …
Gulf e-commerce company Noon to buy fashion venture Namshi – statement Read More »
ANKARA (Reuters) -Turkey’s central bank unveiled new measures on Saturday meant to address credit availability including higher reserve requirement collateral for lenders, days after it shocked markets with a 100 basis-point interest rate cut to 13%. It said the steps were meant to support financial stability and strengthen the monetary transmission mechanism after citing the …
Turkey cenbank takes steps to address credit availability after rate cut Read More »
