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BANGKOK (Reuters) – Thailand is planning to introduce a new financial business law to attract foreign funds and facilitate investment in the sector, a deputy finance minister said on Friday. The law will create a ‘one-stop authority’ agency responsible for setting regulations and issuing licenses for key financial areas to support Thailand’s aim to become …

Thailand plans new financial business law to attract funds, official says Read More »

SHANGHAI/SINGAPORE (Reuters) – China is expected to leave benchmark lending rates unchanged on Monday, while more market participants project further monetary easing to aid the economy following weaker-than-expected second-quarter economic data, a Reuters poll showed. A fragile yuan, China’s lower interest rates versus other major economies, monetary policy divergence and narrowing interest margins at commercial …

China likely to maintain lending rates even as economy slows: Reuters poll Read More »

By Rocky Swift TOKYO (Reuters) -Japan set a record high for monthly visitors in June, official data showed on Friday, as its weak yen fuelled a tourism boom that is becoming a key driver for the economy. The number of foreign visitors for business and leisure was 3.14 million last month, exceeding the previous monthly …

Japan attracts record 3.14 million June visitors as weak yen draws travellers Read More »

BRASILIA (Reuters) -Brazil’s government kept its economic growth projection for this year at 2.5%, saying that support measures for families, businesses, and regional governments would offset the negative impacts of unprecedented flooding in its southernmost state. In a review of macroeconomic indicators released on Thursday, the finance ministry’s economic policy secretariat also raised the 2024 …

Brazil holds 2024 GDP projection at +2.5%, raises inflation forecasts Read More »

(Reuters) -Increasingly popular “earned wage” advances on worker paychecks are consumer loans subject to existing federal laws, the U.S. Consumer Financial Protection Bureau (CFPB) said on Thursday, moving to set federal guard rails for a fast-growing market. In a proposed interpretive guidance, the agency said many paycheck advances were subject to the Truth in Lending …

US watchdog says paycheck advances subject to lending law Read More »

By Makailah Gause NEW YORK (Reuters) – The average interest rate on the popular U.S. 30-year fixed-rate mortgage fell to its lowest level since mid-March this week, a welcome development for a housing market struggling to find its footing and one that may continue if the Federal Reserve cuts rates as expected in the months …

Key U.S. mortgage rate drops to lowest since March, Freddie Mac says Read More »

By Michael S. Derby NEW YORK (Reuters) – Dallas Federal Reserve President Lorie Logan said on Thursday the U.S. central bank is making progress in making sure banks can tap Fed emergency liquidity if needed. The Fed’s “discount window,” which stands ready to lend to deposit-taking banks, along with other central bank liquidity tools, have …

Fed’s Logan hails progress in prepping banks for discount window Read More »

By Sourasis Bose (Reuters) – SunPower shares plummeted nearly 20% on Thursday after the solar company informed clients that it is pausing some operations, including deactivating lease and power purchase agreements from its own sales platform and halting new product shipments. In an online communication seen by Reuters and confirmed as authentic by the company, …

SunPower tumbles nearly 20% after pausing some operations Read More »

By Birsen Altayli ISTANBUL (Reuters) – Many Turks feel anxious and ashamed about their eroding living standards, paying the price for President Tayyip Erdogan’s past economic missteps even as there are signs that the country is beginning to exit its cost-of-living crisis. Six years of punishing inflation, combined with a sharp clampdown on credit over …

Dark days for Turks as Erdogan atones for economic errors Read More »

By Tom Sims and Klaus Lauer FRANKFURT (Reuters) -Building permits for apartments in Germany fell 24% in May from a year earlier, Statistics Office data showed on Thursday, highlighting a continued downturn in demand in the construction and real estate industry. Germany’s property sector, in its third year of decline, is undergoing its most severe …

Fall in German home building permits picks up pace Read More »