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WARSAW (Reuters) – U.S. Treasury Secretary Janet Yellen said she will release a new report this week on steps that international financial institutions are taking to address growing food insecurity brought on by Russia’s invasion of Ukraine. Yellen on Monday used a visit to a World Central Kitchen facility that feeds Ukrainian refugees in Warsaw …

Yellen to unveil food security plans from international institutions at G7 meeting Read More »

MEXICO CITY (Reuters) – Mexico will waive import duties for one year on a range of household staples, most of them foodstuffs, in a bid to curb inflation, the government said on Monday. The government unveiled the plan in its official gazette after earlier this month agreeing with businesses to increase production of staples such …

Mexico to suspend import duties on food staples to tackle inflation Read More »

KYIV (Reuters) -Ukrainian President Volodymyr Zelenskiy said on Monday he had discussed the need for financial support for Ukraine’s economy during a video conference with International Monetary Fund Managing Director Kristalina Georgieva. “The IMF is our important partner. We look forward to further fruitful joint work in maintaining financial stability of Ukraine,” Zelenskiy wrote on …

Ukraine’s president discusses need for financial support with IMF’s Georgieva Read More »

A look at the day ahead in markets from Sujata Rao. With swathes of China spending April under lockdown — 46 cities according to one estimate — it was inevitable that dining out, shopping, factory output and energy usage would all take big hits. The dire data overshadowed announcements that some COVID curbs would be …

Marketmind: COVID lockdowns may end but China is still sneezing Read More »

By Liangping Gao and Clare Jim BEIJING/HONG KONG (Reuters) -China’s property sales in April fell at their fastest pace in around 16 years as COVID-19 lockdowns further cooled demand despite more policy easing steps aimed at reviving a key pillar of the world’s second-largest economy. Property sales by value in April slumped 46.6% from a …

China April property sales post steepest drop since 2006 Read More »

By Kevin Yao and Ellen Zhang BEIJING (Reuters) -China’s retail and factory activity fell sharply in April as wide COVID-19 lockdowns confined workers and consumers to their homes and severely disrupted supply chains, casting a long shadow over the outlook for the world’s second-largest economy. Full or partial lockdowns were imposed in major centres across …

China’s economy skids as lockdowns hit factories, retailers Read More »

TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda said on Monday that currencies should move stably, reflecting economic fundamentals, because excess volatility such as seen recently would make it hard to make business plans. “Excess volatility in a short term as seen recently is undesirable,” Kuroda told Japan’s upper house of parliament. He would …

BOJ’s Kuroda warns against excess FX volatility Read More »

By Leika Kihara and Takahiko Wada TOKYO (Reuters) – Japan needs a faster “third arrow” growth strategy focussing on promoting a carbon-neutral society, including by creating a financial hub in Tokyo for Asian firms aiming to go green, said Hiroshi Nakaso, considered a front-runner to be the country’s next central bank chief. Massive monetary and …

Nakaso, candidate to head BOJ, calls for faster green growth strategy Read More »

By Choonsik Yoo and Seunggyu Lim SEOUL (Reuters) -The South Korean central bank chief’s comment that he could consider big-step interest rate raises in coming months shook the local bond market on Monday, as Asia’s fourth-largest economy also braced for fast slowing in growth. Yields on government bonds rose as traders rushed to cut their …

S.Korea central bank chief says big-step rate hikes a possibility Read More »

BEIJING (Reuters) – China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensure security of the country’s energy supply, but the volume dropped from a record high set in March. The immediate outlook for demand is not strong, however. China, the …

China’s April coal output leaps 11% on year, but demand downturn looms Read More »