By Nafisa Eltahir CAIRO (Reuters) – The United Arab Emirates will build a new Red Sea port in Sudan as part of a $6 billion investment package, DAL group chairman Osama Daoud Abdellatif, a partner in the deal, told Reuters. Abdellatif said the package includes a free trade zone, a large agricultural project and an …
Exclusive-UAE to build Red Sea port in Sudan in $6 billion investment package Read More »
PRAIA (Reuters) – Cape Verde will spend around $85 million on emergency subsidies and fiscal measures this year to mitigate the rise in food and fuel prices brought by the war in Ukraine, the Atlantic archipelago’s government said on Monday. The percentage of Cape Verdeans facing a food crisis currently stands at 9% of the …
Cape Verde budgets $85 million to cushion Ukraine war fallout Read More »
By Stefano Rebaudo (Reuters) -German government bond yields rose sharply on Monday as signs of broadening inflationary pressures in Europe’s economic powerhouse and hawkish comments from top policymakers reaffirmed expectations of higher interest rates in the bloc. In a sign that inflationary pressures were becoming more broad based, IG Metall, Germany’s most powerful union, wants …
German bond yields extend rise on inflation pressures, ECB Read More »
By Uditha Jayasinghe COLOMBO (Reuters) -An International Monetary Fund (IMF) team began bailout talks in Sri Lanka on Monday, as the country’s cabinet cleared a constitutional amendment to dilute presidential powers that could assuage protesters amid rising tensions. Economic mismanagement and the COVID-19 pandemic have left Sri Lanka battling its worst financial problems in seven …
IMF holds talks in Sri Lanka as cabinet moves to cut president’s powers Read More »
MADRID (Reuters) – The European Central Bank’s recent measures to combat rising government debt yields was a positive step to avoid fragmentation risks in the euro zone, Spain’s Economy Minister Nadia Calvino said on Monday. “It is very positive that the ECB has acted swiftly and decisively to curb speculation, to avoid any fragmentation of …
Spain’s Economy minister says ECB’s measures to fight fragmentation is positive Read More »
FRANKFURT (Reuters) – The influx of Ukrainian refugees into the European Union could gradually ease labour shortages in the euro zone as some of those fleeing the war are likely to settle permanently, the European Central Bank said on Monday. Around seven million people, mostly women and children, have fled Ukraine so far since Russia …
Ukrainian refugee influx could ease euro zone labour shortage: ECB Read More »
A look at the day ahead in markets from Dhara Ranasinghe. On top of surging inflation, rising interest rates and growing global recession risks, markets in Europe are waking up on Monday to the prospect of heightened uncertainty in France — the euro area’s second biggest economy. French President Emmanuel Macron is trying to salvage …
By Emma Farge GENEVA (Reuters) – Since Ngozi Okonjo-Iweala took over as head of the World Trade Organization last year, one of her main bugbears has been the negotiating style of member countries, which she says is ineffective, inflexible and needs to change. The WTO, a global organisation that regulates international trade, is often accused …
LIMA (Reuters) – Peru’s economic growth will likely be slightly lower this year, according to a new central bank forecast on Friday following disruptions to major mining projects in the Andean nation, the world’s second biggest copper producer. Soaring consumer prices and creeping borrowing costs have clipped growth expectations across Latin America, with developing economies …
Peru expects lower economic growth on impact of mine protests Read More »
(Reuters) – Speculators raised their net long U.S. dollar positions in the latest week, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday. The value of the net long dollar was $14.17 billion in the week ended June 14, compared with a net long of $13.07 billion the previous …
Speculators raise net long U.S. dollar bets in latest week Read More »
