MOSCOW (Reuters) – Russia’s service sector expanded last month for the first time since February, when Moscow sent tens of thousands of troops into Ukraine, a business survey showed on Tuesday. The S&P Global Purchasing Managers’ Index (PMI) rose to 51.7 in June from 48.5 in May – above the 50 mark that separates expansion …
Russia’s services sector returned to growth in June -PMI Read More »
By Xiangming Hou and Kevin Yao BEIJING (Reuters) -China will set up a state infrastructure investment fund worth 500 billion yuan ($74.69 billion) to spur infrastructure spending and revive a flagging economy, two people with knowledge of the matter told Reuters on Tuesday. China’s economy has started a slow recovery from the supply shocks caused …
Exclusive-China plans $75 billion infrastructure fund to revive economy -sources Read More »
A look at the day ahead in markets from Dhara Ranasinghe. Yes, recession risk remains high on markets’ radar but no, there are yet few signs that central banks will be swayed in their determination to aggressively raise interest rates. So, it was no surprise that the Reserve Bank of Australia lifted its key interest …
By Andrew Mills, Corina Pons and Catarina Demony DOHA/LISBON/MADRID (Reuters) – Top European hotel chains are hiring workers without experience or even a resume as executives admit years of underpaying staff have come back to bite, leaving them unable to meet post-pandemic travel demand. Thousands of workers left the hospitality industry when international travel shut …
No experience, no resume, you’re hired! Hotels fight for staff Read More »
(Reuters) -After a torrid six months, world markets will be hoping for some sign that central banks might dial back their hawkishness. U.S. jobs data, if sharply below forecast, might prove that catalyst. Central banks are front and centre elsewhere, too. The ECB kicks off its bond reinvestment scheme to shield southern Europe’s fragile economies; …
HONG KONG (Reuters) -China and Hong Kong will launch a new “Swap Connect” scheme after six months, allowing mutual access to interest rate swaps trading to promote financial derivatives markets, and also upgraded a separate currency swap agreement. The move, the latest effort to integrate China’s markets with those overseas, was announced on the same …
China, HK to launch rate ‘Swap Connect’ in boost to financial integration Read More »
By Jorge Otaola BUENOS AIRES (Reuters) -Argentine President Alberto Fernandez held meetings and telephone calls on Sunday as he scrambled to find a new economy minister, official sources said, after the abrupt exit of ally Martin Guzman shook the country’s center-left government. By Sunday afternoon there was still no sign of a successor. “No news,” …
Argentine president scrambles to replace economy chief after Guzman exit Read More »
PRAGUE (Reuters) – The Czech National Bank’s new governor Ales Michl is likely to stabilise interest rates as he and three new board members are not keen on policy tightening, President Milos Zeman said on Sunday. Michl and the new board members took their seats on July 1, shortly after the previous board raised the …
Czech president believes new central bank chief will stabilise rates Read More »
(Reuters) – Susan Collins started her job Friday as president of the Federal Reserve Bank of Boston, becoming the first Black woman to lead a regional branch of the U.S. central bank as it faces 40-year-high inflation and mounting fears of recession. Collins will have her first chance to weigh in on monetary policy in …
Fed gets newest policymaker, as inflation, recession fears mount Read More »
By Christian Akorlie ACCRA (Reuters) -Ghana, one of West Africa’s largest economies, will hold formal talks with the International Monetary Fund (IMF) on a support package, the government said on Friday, after hundreds took to the streets to protest against mounting hardship. The cabinet gave its support for the decision at a meeting on Thursday, …
Crisis-hit Ghana changes its mind and turns to IMF for help Read More »
