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JOHANNESBURG (Reuters) -The International Monetary Fund said on Friday that it had reached a staff-level agreement with Malawi for up to $88.3 million in emergency financing, as the southern African country struggles with acute forex shortages. Reuters reported earlier this week that Malawi, which has been experiencing chaotic queues at fuel stations that are running …

IMF, Malawi reach staff deal on $88 million emergency financing Read More »

(Reuters) – Chicago Federal Reserve Bank President Charles Evans on Friday repeated his view that the U.S. central bank ought to get policy to “a bit above” 4.5% by early next year and then hold it there so as to restrain growth and bring down too-high inflation. “Front-loading was a good thing, given how far …

Fed’s Evans: need to get policy rate to a bit above 4.5%, then hold Read More »

ISTANBUL (Reuters) – Turkey tightened lending rules for many companies with more than $500,000 in foreign currency cash on Friday, sweeping up more borrowers under rules adopted in June in the latest step to reverse a tumbling lira. The BDDK bank regulator said that if companies subject to independent audit had more than 10 million …

Turkey halts lending to more FX-rich firms to boost lira Read More »

By David Lawder HERNDON, Va. (Reuters) – U.S. Treasury Secretary Janet Yellen said on Friday that inflation was not becoming “embedded” in the U.S. economy and domestic investments in semiconductors and research would help increase U.S. productive capacity. Yellen, speaking to reporters at a technology business incubator near Dulles International Airport, said she sees no …

Yellen says inflation not ’embedded’ in U.S. economy, research to boost capacity Read More »

By Yantoultra Ngui SINGAPORE (Reuters) – Singapore’s asset management industry grew to a record size last year, outpacing global growth in the sector as the city-state benefited from more business from global and regional funds. The Monetary Authority of Singapore (MAS) said total assets under management in Singapore rose 16% in 2021 to S$5.4 trillion …

Singapore’s asset management sector surges to record as funds expand Read More »

FRANKFURT (Reuters) – The dozens of staff to be cut at Deutsche Bank’s investment bank include staff based in Britain, a person with knowledge of the matter said on Friday. Reuters reported on Thursday that Deutsche Bank has cut staff in origination and advisory segments of its investment banking unit, as a pullback in financing …

Deutsche Bank investment bank job cuts to include staff in Britain – source Read More »

By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever Farewell risk-on rally, we barely knew you. Even British prime ministers last longer. Investors on Thursday initially shrugged off Liz Truss’s resignation and the latest episode of British political pantomime, and Wall Street opened firmly in the green. …

Marketmind: Anarchy in the UK Read More »

By Michael S. Derby NEW YORK (Reuters) – As the Federal Reserve pushes forward with aggressive rate rises to bring down surging inflation it may unintentionally break something in the financial sector, a risk it may not be thinking enough about, a former top government policymaker said. Citing the recent heavy market turbulence that struck …

Former nominee for Fed regulation chief frets about rising market risks Read More »

By Diane Bartz WASHINGTON (Reuters) – A U.S. agency voted on Thursday to begin making rules to crack down on deceptive marketing practices such as fake online reviews and excessive hidden fees also known as “junk fees” The Federal Trade Commission (FTC) also voted to begin the process of modernizing rules governing the funeral industry …

U.S. FTC votes to strengthen rules against fake online reviews and hidden fees Read More »

By Lisa Baertlein LOS ANGELES (Reuters) – After more than two years of surging demand, the volume of container imports coming through U.S. ports has tumbled sharply, raising questions about where a sector once tracked as a supply-chain stress point will hit bottom. Container import volumes across all U.S. ports hit an all-time high in …

U.S. container imports tumble as supply stress gives way to slack Read More »