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BERLIN (Reuters) – Germany plans to earmark around 4 billion euros ($4.40 billion) annually to subsidize electricity prices for energy-intensive industries, to support an industrial move away from fossil fuels and discourage firms from moving offshore. The government last year introduced electricity and gas price caps to shield industry and households from rising energy prices, …

Germany to earmark 4 billion euros annually for power subsidy – economy minister Read More »

MADRID (Reuters) – The European Central Bank still needs to raise its interest rates further and then leave them in restrictive territory for a while to bring inflation down to its medium-term goal of 2%, ECB policymaker Pablo Hernandez de Cos said on Monday. “The process of tightening our monetary policy is well underway, although, …

ECB’s de Cos still sees ‘some way to go’ on policy tightening Read More »

MEXICO CITY (Reuters) – The Dominican Republic’s economy is expected to grow around 4% in 2023, the IMF said on Monday, slowing from the 4.9% rise in 2022. The economy is “one of the most dynamic and resilient in the Western Hemisphere over the last two decades,” the IMF said in a statement, crediting the …

IMF sees slower Dominican Republic growth at 4% in 2023 Read More »

BERLIN (Reuters) – Foreign investment in Germany remained stable in 2022 despite the difficult economic situation, data from the country’s economic development agency, Germany Trade & Invest (GTAI), showed on Monday. Last year, there were 1,783 new settlements and expansions, 23 fewer than in 2021, but 101 more than in 2020. “Given the adverse circumstances, …

Foreign investment in Germany holds steady despite challenging environment Read More »

By Davide Barbuscia and Pete Schroeder NEW YORK/WASHINGTON (Reuters) – As talks over raising the U.S. government’s $31.4 trillion debt ceiling go down to the wire, Wall Street banks and asset managers have been preparing for the fallout from a potential default. The financial industry has prepared for such a crisis before, most recently in …

Explainer-How Wall Street is preparing for possible US debt default Read More »

By Lucy Craymer WELLINGTON (Reuters) – New Zealand’s central bank is expected to deliver a 25-basis point hike on Wednesday, but the focus will be on whether the policy rate will peak at a higher level than previously thought in the wake of a more stimulatory budget last week. After surprising financial markets with a …

NZ central bank to hike by 25 bps, risk grows of higher peak for rates Read More »

SHANGHAI/SINGAPORE (Reuters) -China kept its benchmark lending rates unchanged for the ninth month in May on Monday, matching market expectations, as a weakening yuan and widening yield differentials with the United States limited the scope for any substantial monetary easing. A raft of data over the past month or so, including April indicators last week, …

China holds lending rates steady; market sees reserve ratio cut as next move Read More »