By Iain Withers LONDON -British bank NatWest swung to a hefty profit on the back of the country’s economic recovery but said rising prices will make it harder to cut …
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By Mimosa Spencer and Silvia Aloisi PARIS -Sales growth at Hermes eased in the final quarter of last year, missing market forecasts and sending its shares down as much as …
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Financial News
Credit Suisse banker in cocaine-cash trial says murders dismissed by management
by Reutersby ReutersBy Stephanie Nebehay and John O’Donnell BELLINZONA, Switzerland – Credit Suisse learned of murders and cocaine smuggling allegedly connected to a Bulgarian gang but continued to manage cash that is …
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– Tensions over Ukraine are set to keep markets on edge in the week ahead while U.S. consumer data and results from major U.S. retailers will give fresh insights into …
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By Marwa Rashad and Isla Binnie LONDON/MADRID – Europe’s liquefied natural gas (LNG) terminals have limited available capacity to absorb extra supply from the United States or other major producers …
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Financial News
U.S. Treasuries see biggest inflows in two years as recession risks rise – BofA
by Reutersby ReutersLONDON – Investors pumped money into U.S. Treasuries at the fastest pace in nearly two years in the week to Wednesday and yanked funds out of cash, inflation-linked debt and …
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New Chinese regulatory push sends Meituan, tech stocks tumbling
by Reutersby ReutersSHANGHAI – Online food delivery group Meituan led a rout of Chinese technology company shares on Friday, as authorities announced a series of regulatory moves to boost growth while keeping …
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By Stephen Jewkes MILAN -Italy’s Eni became the latest energy group to benefit from the oil and gas boom as it posted its best result since 2012 to provide cash …
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Financial News
Exclusive-Voting delays risk starving Somalia of budget funds, says IMF
by Reutersby ReutersBy Duncan Miriri NAIROBI – A key IMF-supported programme funding military wages and other essential services in Somalia could expire in May if there are any further delays to elections, …
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Financial News
Slovak current account shows 831 million euro deficit in December
by Reutersby ReutersPRAGUE – Slovakia’s current account hit a deficit of 831 million euros ($944.85 million) in December after a revised gap of 122 million euros in November, the central bank said …
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Huawei to invest $632 million to build new digital energy HQ in Shenzhen
by Reutersby ReutersBEIJING – Huawei Technologies will spend 4 billion yuan ($632.52 million) to build a new headquarters and R&D centre for its digital power unit, according to local media reports, as …
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Thai property sector recovery delayed amid Omicron -state loan agency
by Reutersby ReutersBANGKOK – Thailand’s property market may not return to pre-pandemic levels until 2024, due to a slower-than-expected economic recovery amid a new coronavirus outbreak and higher inflation, the research unit …
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FRANKFURT – The euro zone’s current account surplus rose to 310 billion euros ($352.47 billion) last year, or 2.6% of the bloc’s economic output, European Central Bank data showed on …
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Financial News
ECB’s Kazimir calls for ending bond buying in August -Bloomberg
by Reutersby ReutersFRANKFURT – European Central Bank policymaker Peter Kazimir on Friday joined a growing camp of rate-setters in favour of ending the ECB’s bond-buying programme, which were designed to boost inflation …
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Singapore Finance Minister announces $372 million jobs support package
by Reutersby ReutersSINGAPORE – Singapore’s Finance Minister Lawrence Wong announced a S$500 million ($372 million) package to support jobs and businesses as part of his budget proposals on Friday. Singapore’s government has …
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Financial News
China central bank warns of default risks after climate stress test
by Reutersby ReutersSHANGHAI – China’s banks face rising default risks as a result of higher climate-related costs in carbon-intensive sectors like thermal power, steel and cement, Liu Guiping, vice governor of the …
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By Divya Chowdhury MUMBAI – Uncertainty over the pace of monetary policy will mean a volatile first half for risk assets followed by an upward path for equities in the …
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Financial News
British warehousing firm Segro rides surge in demand for quick delivery
by Reutersby Reuters-British warehousing firm Segro said on Friday the growing popularity of rapid delivery services is fuelling strong demand across its markets after it reported a 20% jump in annual profit, …
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DUBAI -The United Arab Emirates and India will sign a trade and investment agreement on Friday during a virtual summit attended by the countries’ two leaders, the UAE and Indian …
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Financial News
China to boost commodity price supervision in push for industrial growth
by Reutersby ReutersBEIJING -China’s state planner will take steps to stabilise the commodity market and hasten construction of new infrastructure, it said on Friday, in the effort to promote steady industrial growth. …
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Exclusive-India makes record U.S. soyoil purchases as drought parches South America
by Reutersby ReutersBy Rajendra Jadhav MUMBAI – Indian traders have contracted to import a record 100,000 tonnes of soyoil from the United States because of limited supplies from drought-hit South America, at …
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Financial News
Shortage of Suzuki car mirrors reflects Sri Lanka’s growing economic crisis
by Reutersby ReutersBy Devjyot Ghoshal and Uditha Jayasinghe COLOMBO – Car spare parts dealers in Sri Lanka’s main city of Colombo are receiving a steady stream of customers looking for what is …
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PARIS -Clotilde Delbos will step down as Renault’s chief finance officer, she told analysts on Friday, to focus on leading the group’s Mobilize unit. After six years as finance chief …
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Financial News
China Orient Asset Management gets approval to issue bonds to resolve risks in property sector
by Reutersby ReutersSHANGHAI – China Orient Asset Management said on Friday it was approved to issue up to 10 billion yuan bonds in China’s interbank bond market to resolve risks in the …
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KUALA LUMPUR – Malaysia’s exports rose 23.5% from a year earlier in January, government data showed on Friday. Imports in January grew 26.5% year-on-year, while the trade surplus for the …