By Jihoon Lee, Cynthia Kim and Yena Park SEOUL (Reuters) – South Korea’s strenuous attempts to defend a sharply weakening currency have run into an unstoppable home-made force working in the opposite direction: the national pension fund. The National Pension Service (NPS), the world’s third-largest such fund, has a hefty and growing appetite for equity …
S.Korea’s huge pension fund a local force driving won lower Read More »
By Ahmed Eljechtimi MARRAKECH, Morocco (Reuters) – The African Development Bank (AfDB) is seeking additional capital for its fund offering infrastructure finance at cheap rates to low-income and fragile African economies, the bank’s president said on Wednesday. The bank is negotiating with donors to replenish its African Development Fund (ADF), a process that takes place …
AfDB seeks to increase concessional funding to fragile African economies Read More »
ASUNCION (Reuters) – Uruguay will push for a free trade agreement with China, the South American country’s top diplomat said on Wednesday, even as it faces resistance from some of its neighbors who favor regional trade talks over deals involving just one nation. Uruguayan Foreign Minister Francisco Bustillo made the comments just outside the Paraguayan …
Uruguay seeking China trade deal despite misgivings from neighbors Read More »
By Doyinsola Oladipo NEW YORK (Reuters) – Whether they make strawberry pound cake-scented candles or $300 brisket barbecue delivery meal kits, U.S. companies are telling investors to expect consumers to cut back on discretionary spending with inflation settling into 40-year highs. Stuck at home during the pandemic, consumers who liberally splurged on assorted goods and …
Consumers shun candles, barbecue kits as budgets tighten Read More »
NEW YORK (Reuters) – U.S. existing home sales fell for a fifth straight month in June to the lowest level in two years, as fast-rising interest rates and record-high selling prices make buying a home too expensive for a growing share of American households. Mortgage interest rates have soared as a result of the Federal …
U.S. existing home sales slide again; prices hit fresh record high Read More »
By Andrea Shalal (Reuters) -Zambia’s creditors are expected to commit to debt relief needed to unlock $1.4 billion from the IMF on Wednesday or Thursday, two sources familiar with the situation said, as the country and its lenders seek to end a drawn-out restructuring process. After meeting on Monday, Zambia’s bilateral creditors agreed to release …
Zambia creditors to commit to debt relief needed for IMF funding – sources Read More »
A look at the day ahead in markets from Karin Strohecker. It’s time to cast your sorrows away, well at least for a very brief moment. U.S. earnings – bad, but not as bad as feared for giants like Netflix – and a dollar languishing at two-week lows are lifting the mood. And European markets …
JAKARTA (Reuters) – Foreign direct investment (FDI) into Indonesia rose 39.7% annually in the April-June period in rupiah terms to 163.2 trillion rupiah ($10.89 billion), the investment minister said on Wednesday, the biggest climb in the past decade. The FDI, which excludes investment in banking and the oil and gas sectors, accelerated from a 31.8% …
Indonesia’s Q2 FDI jumps nearly 40% y/y, biggest rise in a decade Read More »
By Mike Dolan LONDON (Reuters) – There’s a weary acceptance among investors of almost inevitable market volatility around Italy’s latest political upheaval – but that’s where the hand-wringing tends to end this time. Many argue that 2022 has ushered in an era where politics trumps economics again – a period where willingness to pay debts, …
Column – Weary tolerance of Italian market volatility: Mike Dolan Read More »
By Clare Jim HONG KONG (Reuters) – A revolt by Chinese homebuyers, who have threatened to stop paying mortgages on hundreds of unfinished housing projects, is spurring a shakeout among cash-starved property developers who have long relied on pre-sales of apartments. Many private-sector developers, already gasping for funds and facing an uncertain future, have …
Analysis: China’s mortgage boycott spurs shakeout among strapped developers Read More »
