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ZURICH (Reuters) – Swiss companies are not stockpiling cash in their strongrooms and offices to avoid being hit by negative interest rates, a Swiss National Bank (SNB) survey released on Thursday showed. The SNB has charged commercial banks a negative rate of minus 0.75% since January 2015 as part of its strategy to weaken demand …

Swiss companies are not hoarding cash, central bank says Read More »

HONG KONG (Reuters) – The Hong Kong Retail Management Association said on Thursday retail traffic in the global financial hub has dropped 40% from December as a surge in coronavirus cases and tighter restrictions batter the sector. The association, which represents around 9,000 retail outlets and employs over half of the local retail workforce, also …

Hong Kong group says retail traffic has dropped 40% from Dec Read More »

By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales increased by the most in 10 months in January, lifting the level of sales to a record high amid a surge in purchases of motor vehicles and other goods, but higher prices could limit the boost to economic growth this quarter. The report from the Commerce …

U.S. retail sales race to record high; economy shows strength ahead of rate hikes Read More »

RABAT (Reuters) – Morocco will spend 10 billion dirhams ($ 1.07 bln) on a national plan to mitigate the impact of drought on farmers and the economy, the royal palace said on Wednesday. The plan targets water management, helping farmers and agricultural insurance as well as ensuring wheat and animal feed supply, the palace said …

Morocco to spend $1 billion to mitigate drought impact- palace Read More »

By Marcela Ayres BRASILIA (Reuters) -Brazil’s government is considering an income tax exemption for foreigners investing in domestic corporate bonds, hoping to lower financing costs for local firms at a time of rising interest rates, the Economy Ministry said on Wednesday. In a statement to Reuters, it said officials are drafting regulations aimed at “expanding …

Exclusive-Brazil eyes tax exemption for foreign investors in corporate bonds, Economy Ministry says Read More »

PARIS (Reuters) – The next French government will need to revise current budget deficit reduction plans after a presidential election in April to ensure France does not fall further behind other European countries, the public audit office said on Wednesday. President Emmanuel Macron’s government currently plans to cut the public sector budget deficit below an …

France will need to boost deficit reduction plans after election – auditor Read More »

KUALA LUMPUR (Reuters) – Malaysia has maintained its March export tax for crude palm oil at 8% and raised its reference price, a document on the Malaysian Palm Oil Board website showed on Wednesday. The world’s second-largest palm exporter calculated a reference price of 5,277.58 ringgit ($1,261.07) per tonne for March. The February reference price …

Malaysia keeps March crude palm oil export duty at 8% Read More »

(Refiles to correct 14th paragraph by adding missing word research to analyst job title) By Alun John HONG KONG (Reuters) – As the Bank of Japan asserts its standing as a lone dove among its peers, the yen is reclaiming its status as the world’s most popular funding currency. The trade comes with risks though, …

Japan’s yen back in favour as a funding currency, but with more risks Read More »

OSLO (Reuters) -Norway’s mainland economy grew last year by 4.2%, its quickest pace since 2007 as the country rebounded from a pandemic-driven slump in activity, Statistics Norway (SSB) data showed on Wednesday. The October-December quarter saw growth of 1.4% compared with the July-September period, the statistics office said, beating expectations of 1.2% in a Reuters …

Norway 2021 GDP growth strongest in 14 years, Q4 beats forecast Read More »