Reuters US Economy Archives - Page 859 of 866

Panama to receive First Quantum’s plan for power plant conversion -Energy minister

10 Feb 2022 10 Feb 2022

By Marianna Parraga and Elida Moreno HOUSTON/PANAMA CITY (Reuters) – Panama’s government expects to receive soon a proposal by mining firm First Quantum Minerals to convert a coal-fired power plant to cleaner energy, Energy Minister Jorge Rivera told Reuters on Wednesday. A unit of the Canadian miner last month agreed to pay higher royalties to …

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OPEC sees upside to 2022 oil demand forecast on strong pandemic recovery

10 Feb 2022 10 Feb 2022

By Alex Lawler LONDON (Reuters) -OPEC said on Thursday world oil demand might rise even more steeply this year as the global economy posts a strong recovery from the pandemic, a development that would underpin prices already at a seven-year high. Tight oil supply has also given impetus to booming energy markets, and the report …

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Brazil’s expected soy crop losses already a modern era record -Braun

10 Feb 2022 10 Feb 2022

By Karen Braun FORT COLLINS, Colo. (Reuters) -A Brazilian soybean crop as large as 134 million tonnes seemed unimaginable just a couple of years ago, but that figure now represents unprecedented losses in the soybean market as it is known today. These drought-induced harvest reductions keep this year’s global soybean carryout projection at an eight-year …

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Kenya’s central bank tests public opinion about digital currencies

10 Feb 2022 10 Feb 2022

NAIROBI (Reuters) – Kenya’s central bank has invited the public for views on the potential introduction of a digital currency, in a shift from its original opposition to crypto assets. The East African country pioneered mobile money payments with Safaricom’s M-Pesa in 2007, but its central bank has not issued a digital currency due to …

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Eneos can find alternative oil even if Russian supply disrupted -executive

10 Feb 2022 10 Feb 2022

TOKYO (Reuters) – Japan’s oil and metals giant Eneos Holdings Inc expects it will be able to procure alternative oil in spot markets even if it becomes difficult to buy crude from Russia in the event of a crisis in eastern Europe, an executive said on Thursday. Concern has mounted over the possible disruption of …

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Turkish opposition leader refuses to pay power bill in protest

10 Feb 2022 10 Feb 2022

By Daren Butler ISTANBUL (Reuters) -Turkey’s main opposition leader said he will not pay his power bills until Tayyip Erdogan withdraws recent price hikes, and the president’s ruling party slammed the move on Thursday as a provocation amid growing discontent over surging inflation. In January, inflation jumped to nearly 50% after a currency crash late …

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Hungary central bank leaves one-week deposit rate unchanged at 4.3%

10 Feb 2022 10 Feb 2022

BUDAPEST (Reuters) – Hungary’s central bank left its one-week deposit rate unchanged at 4.3% on Thursday, helped by recent gains in the forint, which is trading near four-month-highs versus the euro. The central bank uses the one-week deposit facility to tackle short-term market volatility. It raised its base rate by 50 basis points to 2.9% …

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India central bank holds rates to ensure broad-based recovery

10 Feb 2022 10 Feb 2022

By Swati Bhat MUMBAI (Reuters) -The Reserve Bank of India’s monetary policy committee (MPC) stuck to its accommodative policy stance to help the economy recover from the pits of the pandemic, keeping the key lending rate at record lows on Thursday. As expected, the MPC held the lending rate, or the repo rate, at 4%. …

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Saudi GDP grows by 6.8% in fourth quarter – flash estimates

10 Feb 2022 10 Feb 2022

DUBAI (Reuters) -Saudi Arabia’s gross domestic product grew by 6.8% in the fourth quarter, bringing overall growth last year to 3.3%, official flash estimates showed on Thursday. The quarter’s growth was driven by a 10.8% rise in oil activities and a 5% increase in non-oil activities, the General Authority for Statistics said. Government services increased …

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Peru’s leftist government will embrace free market, says new PM

10 Feb 2022 10 Feb 2022

LIMA (Reuters) – The latest prime minister picked by Peru’s embattled president, Pedro Castillo, pledged to pursue free-market policies in his first public remarks on Wednesday, a day after a new Cabinet was unveiled that aims for stability in the Andean nation. Speaking at a government news conference, Prime Minister Anibal Torres also emphasized that …

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