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China hopes Australia can take actions to promote trade relations – commerce ministry

14 Jul 2022

BEIJING (Reuters) – China hopes Australia can take pragmatic actions to create favourable conditions for the healthy and stable development of bilateral trade relations, China’s commerce ministry said on Thursday. China expects Australia to adopt the principle of mutual respect and mutual benefit, ministry spokeswoman Shu Jueting told a news conference. The comment came after …

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South Korea to ease debt-service burden on vulnerable borrowers

14 Jul 2022

By Choonsik Yoo SEOUL (Reuters) – South Korean President Yoon Suk-yeol pledged on Thursday to help ease the debt-service burden on low-income earners as a surge in interest rates and living costs put more pressure on heavily indebted households. The comment came at his weekly meeting on the economy. South Korea’s household debt is among …

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Emerging market fund Ashmore shares hit 13-yr low as investors pull out cash

14 Jul 2022

LONDON (Reuters) -Shares in emerging markets investment firm Ashmore fell to a 13-year low on Thursday after it reported a much heavier-than-expected $6.6 billion exodus from its funds after a torrid few months for developing economies. Russia’s invasion of Ukraine, a soaring dollar and China’s economic strains have combined to give emerging markets their most …

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Australian regulator lifts additional capital overlay on Allianz Australia

14 Jul 2022

(Reuters) -Australia’s prudential regulator said on Thursday it has scrapped the additional capital requirement of A$150 million ($101.64 million) placed on the local unit of Allianz SE after finding the insurer has rectified its risk governance issues. The Australian Prudential Regulation Authority (APRA), in August 2019, required Allianz Australia to initially set aside an additional …

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U.S. CPI preview: Past the headline, into the core

13 Jul 2022

NEW YORK (Reuters) -U.S. June consumer prices data due early on Wednesday has market participants’ undivided attention, standing as the last potentially market-moving catalyst before second-quarter earnings season hits full stride. Economists polled by Reuters expect the Labor Department’s Consumer Price Index (CPI), which tracks the prices that urban consumers spend on a basket of …

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Orion raises outlook after Merck deal on developing prostate cancer drug

13 Jul 2022

(Reuters) -Finnish drug maker Orion on Wednesday raised its full year outlook after it signed a collaboration agreement with Merck aimed at developing a prostate cancer drug, sending its shares to two-year high. Given the upfront payment of $290 million Orion is to receive from Merck, the Finnish company expects sales and operating profit in …

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Chad creditors expected to agree phased ‘contingent’ debt relief plan

13 Jul 2022

By Andrea Shalal TOKYO (Reuters) – Chad’s official creditors are expected to agree on Wednesday a debt restructuring strategy that includes contingencies based on oil prices and participation of private creditor Glencore, a person familiar with the plans said. Their meeting comes amid pressure from the International Monetary Fund and others for resolution of Chad’s …

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China’s June exports rise 17.9% y/y, imports grow 1.0%

13 Jul 2022

BEIJING (Reuters) – China’s exports rose 17.9% in June from a year ago, beating analysts’ expectations as the economy tries to wrestle back lost momentum from extensive COVID lockdowns and supply chain snags, while imports were up 1.0%, customs data showed on Wednesday. Analysts in a Reuters poll had expected exports to rise 12.0% after …

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China Q2 GDP growth seen dipping to 1% on COVID hit, 2022 growth at 4% – Reuters poll

13 Jul 2022

By Kevin Yao BEIJING (Reuters) – China’s economic growth likely slowed sharply in the second quarter as COVID-19 lockdowns hit factories and consumer spending, a Reuters poll showed, suggesting policymakers may have to do more to spur a faster recovery. Gross domestic product (GDP) likely grew 1.0% in the April-June quarter from a year earlier, …

China Q2 GDP growth seen dipping to 1% on COVID hit, 2022 growth at 4% – Reuters poll Read More »

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