Russia cuts mandatory FX conversion level for exporters to 50%
(Reuters) – Russia is cutting the proportion of foreign currency revenues that exporters must convert into roubles to 50% from 80%, the finance ministry said on Monday, after the policy…
(Reuters) – Russia is cutting the proportion of foreign currency revenues that exporters must convert into roubles to 50% from 80%, the finance ministry said on Monday, after the policy…
LONDON – U.S. investment bank JPMorgan cut its China full-year growth forecast from 4.3% to 3.7% on Monday, saying a deeper-than-expected contraction was now likely this quarter due to the…
(Reuters) – Swedish electric-vehicle maker Polestar cut its 2022 delivery forecast by 15,000 units to 50,000 vehicles on Thursday, hit by COVID-19 lockdowns in China. “The reduction for 2022 is…
(Reuters) – JPMorgan on Wednesday cut its expectation for U.S. real gross domestic product for the second half of 2022 and for 2023. The firm’s economic and policy research department…
(Corrects figures in first paragraph to 3.5%-4.5% from 3%-4% and to 4%-5% from 3.5%-4.5%) BELGRADE – Serbia’s central bank on Wednesday cut its 2022 growth forecast to 3%-4% from 3.5%-4.5%…
KYIV – Russia’s Gazprom has reduced the booked capacity for gas transit through Ukraine via the Sudzha entry point on May 13 to 60.8 million cubic metres (mcm) from the…
(Reuters) – Belarusian Prime Minister Roman Golovchenko said on Wednesday he expected interest rates in his country to fall following rate cuts by the Russian central bank, despite accelerating inflation…
(Reuters) – Hong Kong’s Cathay Pacific Airways Ltd on Wednesday significantly cut its cash-burn target for the coming few months on expectation that easing travel curbs and quarantine rules for…
LONDON – BlackRock trimmed its exposure to Chinese stocks and government bonds, and Asian fixed income more widely, to neutral from a slight overweight, citing a worsening macroeconomic outlook as…
By Rachel Savage LONDON – Emerging market sovereign debt is at the “mercy” of the Federal Reserve’s interest rate decisions, JPMorgan analysts said in a note on Monday, as the…
PARIS -France’s Danone said on Friday it would end its partnership with Chinese milk firm Mengniu by selling a 25% stake it holds in milk powder maker Yashili as well…
By Saikat Chatterjee and Sujata Rao LONDON – “Our currency, your problem,” were the words of a former U.S. Treasury secretary in 1971 to other finance ministers aghast at the…
TOKYO – Japanese trading house Marubeni Corp said on Friday it had cut its exposure to Russia by 12.6 billion yen ($97 million) in the year just ended, mainly by…
By David Morgan WASHINGTON – A bipartisan group of at least a dozen U.S. senators met on Wednesday to review tax credits for clean energy initiatives, as a part of…
By Marcela Ayres BRASILIA – Brazilian President Jair Bolsonaro signed a decree to cut taxes on industrial products (IPI) by 35% effective on May 1, a deeper tax cut than…
(Reuters) – MSCI’s emerging market eastern Europe equity index dropped as much as 1.2% in early trading on Wednesday after Russia cut gas supplies to Poland and Bulgaria. This is…
By Orathai Sriring and Kitiphong Thaichareon BANGKOK – Thailand’s finance ministry on Wednesday reduced its 2022 economic growth forecast to 3.5% from a previous forecast of 4.0%, due to the…
By David Shepardson (Reuters) – JetBlue Airways shares fell 11% on Tuesday after the carrier said it will trim its summer schedule to address a series of challenges ahead of…
(Reuters) – S&P Global Ratings cut Sri Lanka’s rating as an issuer of foreign currency debt to ‘selective default’ after the South Asian country missed sovereign bond interest payments, S&P…
LONDON – Morgan Stanley said on Monday it had revised down its economic growth forecasts for the euro area this year and the next, anticipating a meaningful slowdown in economic…
BERLIN -The German government will cut its growth forecast for Europe’s biggest economy for 2022 to 2.2% from 3.6% amid the war in Ukraine, a government source told Reuters on…
SHANGHAI – The smallness of a cut to the amount of money Chinese banks must hold in reserves may reflect concern by the Chinese central bank over inflation and U.S.…
By Svea Herbst-Bayliss BOSTON -Activist investment firm Sachem Head on Monday cut its slate of director nominees at US Foods Holding Co to five from seven, backing away from plans…
By Giuseppe Fonte and Gavin Jones ROME – Italy has reduced its estimates for the economic growth impact of European Union funds and reforms connected with its Recovery Plan, a…
By George Georgiopoulos ATHENS – Greece’s economy is seen expanding by 3.8% this year under a baseline scenario, a slower pace than a previous projection of 5.0%, the head of…