By Fergal Smith TORONTO (Reuters) – Canada’s services economy expanded for the first time in five months in October as the amount of new business increased and confidence in the outlook improved, S&P Global Canada services PMI data showed on Tuesday. The headline business activity index rose to 50.4 from 46.4 in September, moving above …
Canada’s services PMI shows return to growth in October Read More »
BRASILIA (Reuters) – Brazil’s government continued high-level discussions on Tuesday towards the announcement of anticipated spending control measures seen as crucial for sustaining fiscal rules, though it has not disclosed when they will be unveiled. Chief of Staff Rui Costa was scheduled to meet with the ministers of social security and social development in the …
Brazil continues high-level talks on spending control measures Read More »
By Ateeq Shariff (Reuters) – Most stock markets in the Gulf rose on Tuesday as markets waited for early indications of the outcome of a knife-edge U.S. election. Election Day ends an acrimonious campaign jolted by assassination attempts on Republican candidate and former President Donald Trump and the withdrawal of Democratic President Joe Biden in …
NAIROBI (Reuters) – The International Monetary Fund has raised Ethiopia’s net international reserves target to facilitate payments of upcoming hard currency bills, the Fund said. The East African nation secured a $3.4 billion, four-year financing program from the IMF in July after carrying out a series of reforms including floating its birr currency. It is …
IMF raises Ethiopia’s international reserves target after first review Read More »
ABU DHABI (Reuters) – Growth in the United Arab Emirates’ non-oil private sector activity improved in October as output expanded more sharply, but demand grew at the slowest rate in 20 months, a survey showed on Tuesday. The seasonally adjusted S&P Global UAE Purchasing Managers’ Index rose to 54.1 in October from 53.8 in September, …
UAE non-oil business activity growth picks up in October, PMI shows Read More »
(Reuters) – The pace of growth in Saudi Arabia’s non-oil sector continued to accelerate in October, lifted by the fastest growth in new orders since March, a survey showed on Tuesday. The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index rose to 56.9 in October, the strongest reading in six months, and up slightly …
Saudi non-oil business activity lifted by faster new order growth in October, PMI shows Read More »
By Andy Home LONDON (Reuters) -Tin demand last year was weaker than expected and is on course for only a modest recovery in 2024, according to the International Tin Association (ITA). The soldering metal has been the consistent out-performer on the London Metal Exchange (LME) this year. The three-month price traded at $32,250 on Monday, …
Demand weakness helps cushion tin from supply problems: Andy Home Read More »
(Reuters) -Specialty chemicals company Celanese cut its quarterly dividend by about 95% and laid out additional cost-cut plans following a profit slump, sending its shares down 14% in extended trading on Monday. Third-quarter net earnings fell about 87% to $120 million, as its engineered materials segment was impacted by rapid slowdowns in commercial activity in …
Celanese cuts dividend by 95%, implements cost-cut plans after profit slump Read More »
(Reuters) -Investment manager Franklin Resources, better known as Franklin Templeton, swung to a fourth-quarter loss on Monday as a $389.2 million impairment charge related to its Western Asset Management unit overshadowed higher management fees. WHY IT’S IMPORTANT The unit, which chiefly manages fixed income portfolios, has been under investigation by the U.S. Securities and Exchange …
Franklin Templeton posts quarterly loss on hit from Western Asset unit Read More »
By Simon Johnson STOCKHOLM (Reuters) – Sweden’s central bank is likely to cut its policy rate by half a percentage point to 2.75% when it meets this week, aiming to boost the weak economy and keep inflation from undershooting the 2% target, a Reuters poll of analysts showed on Monday. An overwhelming majority of the …
Sweden’s Riksbank seen making half percentage point rate cut: Reuters poll Read More »
