CAIRO (Reuters) – The Central Bank of Egypt (CBE) will hike its overnight deposit rate by 50 basis points (bps) on Thursday as it works to keep inflation in check, a Reuters poll forecast. The median forecast in a poll of 15 analysts is for the CBE to raise deposit rates to 11.75% and its …
Egypt’s central bank seen hiking rates to dampen price rises – Reuters poll Read More »
(Reuters) -U.S. drugmaker Seagen Inc said on Friday an arbitrator had ruled in favor of Japan’s Daiichi Sankyo over an agreement between the two companies for using its drug technology. The companies have been locked in a legal battle over patents on Daiichi and AstraZeneca Plc’s breast-cancer drug Enhertu, which Seagen says violates its patents. …
Seagen loses arbitration against Daiichi Sankyo over drug technology Read More »
By Chen Aizhu SINGAPORE (Reuters) – China’s refined fuel exports are likely to sink in 2022 to the lowest in seven years as the country seeks to maintain ample domestic supplies while refinery output posts a rare decline. Regional rivals like India and South Korea are the probable primary beneficiaries of China’s export cuts, which …
Explainer-How China manages refined fuel exports Read More »
By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) -Thailand’s economy expanded at the fastest pace in a year in the second quarter as eased COVID-19 restrictions boosted activity and tourism, reinforcing views that more rate hikes will be needed to curb inflationary pressures. Southeast Asia’s second-largest economy is making a steady recovery after the lifting …
Thai GDP notches fastest growth in a year on eased COVID curbs Read More »
By Jamie McGeever ORLANDO, Fla. (Reuters) – Hedge funds slashed their long dollar positions and bet harder on a flatter yield curve, two macro trades that have come up trumps. The dollar last week fell to its lowest level on a broad basis since June, while the yield curve inversion reached levels not seen in …
Column-Hedge funds strike it right on dollar, yield curve: McGeever Read More »
LONDON (Reuters) – Britain’s energy crisis will push millions into destitution this winter unless the government hands out more cash to help struggling households pay fuel bills, Rishi Sunak, the trailing candidate in the contest to become Britain’s next leader, said. Former finance minister Sunak is up against foreign minister Liz Truss to succeed Prime …
More cash needed to save Britons from destitution in energy crisis – PM contender Sunak Read More »
BUENOS AIRES (Reuters) – Argentina announced late on Friday a package of tax and customs benefits for the oil and gas industry meant to attract dollars to the South American nation, which is battling crippling inflation and a low level of foreign currency reserves. The measures had been announced on Thursday – and follow other …
Dollar-strapped Argentina announces incentives for oil and gas industry Read More »
By Nelson Bocanegra CARTAGENA, Colombia (Reuters) – Colombia’s trade with Venezuela could hit $1.2 billion this year, its commerce minister German Umana said on Friday, after the country’s new President Gustavo Petro pledged to revive trading relations with its South American neighbour. Relations broke down in early 2019 after Caracas objected to members of the …
Colombia forecasts 2022 trade with Venezuela could hit $1.2 billion Read More »
By Lewis Krauskopf NEW YORK (Reuters) – Optimism is seeping back into the U.S. stock market, as some investors grow more convinced that the economy may avoid a severe downturn even as it copes with high inflation. The benchmark S&P 500 has rebounded about 15% since mid-June, halving its year-to-date loss, and the tech-heavy Nasdaq …
Soft landing hopes for U.S. economy brighten outlook on stocks Read More »
JAKARTA (Reuters) – Indonesia’s trade surplus may have narrowed to $3.93 billion last month due to weakening export performance as global trade activity slows, according to economists polled by Reuters. Southeast Asia’s biggest economy booked a larger-than-expected trade surplus of $5.09 billion in June on the back of palm oil exports resuming after a three-week …
Indonesia July trade surplus seen narrowing amid slowing global trade Read More »
