(Reuters) – The Russian central bank said on Tuesday it had decided to ease forex currency control measures for Russian export-focused companies outside the commodities and energy sectors. The mandatory sales of foreign currency earned by these companies remains in place, however the currency they receive after April 19 can now be sold within 60 …
Russia eases FX controls for some export-focused companies Read More »
BEIJING (Reuters) – China’s state planner will continue reduce its crude steel output this year and pledged an annual decline, after cutting around 30 million tonnes of production in 2021, an official said on Tuesday. The world’s top steel producer met its annual target last year by slashing steel output to 1.035 billion tonnes from …
China to keep 2022 crude steel output lower than last year’s level Read More »
ZURICH (Reuters) – The head of Credit Suisse’s securities joint venture in China, Tim Tu, has stepped down to pursue other opportunities within the Swiss bank, a spokeswoman said. Daniel Qiu has been appointed interim CEO of the CSSCL venture, effective immediately. He assumes the role alongside his existing responsibilities as Head of Investment Banking & …
Head of Credit Suisse China securities JV steps down Read More »
A look at the day ahead in markets from Saikat Chatterjee. Bleary-eyed traders returning to work after the Easter weekend have a short, yet action-packed week ahead. They must contend first of all with the inexorable rise in inflation-adjusted borrowing costs — yields on 10-year U.S. inflation-linked bonds are within touching distance of turning positive …
By Clare Jim HONG KONG (Reuters) – Chinese developers are heeding Beijing’s call and accelerating a push into asset-light businesses such as property services and commercial real estate to cut their reliance on a high-debt, high-turnover model blamed for a liquidity crisis in the sector. KWG Group Holdings, CIFI Holdings and state-backed China Resources Land …
China developers speed up diversification after debt-led growth fuels crisis Read More »
By David Lawder WASHINGTON (Reuters) -The U.S. Treasury this week will call on international policymakers to take steps to mitigate the impact from Russia’s war in Ukraine on developing economies, which are paying high costs through increased food and energy prices, Deputy Treasury Secretary Wally Adeyemo said on Monday. “We must not allow Russia’s invasion …
U.S. Treasury to urge moves to shield developing economies from war impacts -Adeyemo Read More »
By Andrea Shalal and David Lawder WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen plans to skip some sessions of this week’s G20 finance meeting in protest at Russia’s assault on Ukraine and will urge International Monetary Fund and World Bank members to increase pressure on Moscow, two senior U.S. Treasury officials said on Monday. …
U.S. Treasury’s Yellen to skip some G20 sessions, encourage pressure on Russia Read More »
BENGHAZI (Reuters) – Libya halted oil production from its El Feel oilfield on Sunday and two sources at Zueitina oil port said exports there had been suspended after protesters calling for Tripoli-based Prime Minister Abdulhamid al-Dbeibah to resign took over the sites. Halting operations in El Feel and Zueitina would cripple Libya’s oil production which …
Libya halts operations at El Feel oilfield, Zueitina port due to protests Read More »
By Lewis Krauskopf NEW YORK (Reuters) -U.S. stock investors worried geopolitical uncertainty and the Federal Reserve’s fight against inflation could dent economic growth are heading for defensive sectors they believe can better weather turbulent times and tend to offer strong dividends. The healthcare, utilities, consumer staples and real estate sectors have posted gains so far …
Investors turn to defensive stocks as economic concerns grow Read More »
By Gopal Sharma KATHMANDU (Reuters) – Nepal is asking citizens living abroad to deposit funds in domestic banks as part of efforts to ensure the financial system has enough liquidity and to preserve foreign exchange reserves, finance minister Janardan Sharma said on Saturday. Speaking to Reuters, he denied Nepal was facing an economic crisis despite …
Nepal seeks overseas nationals’ help to build up forex reserves amid economic woes Read More »
