COLOMBO, Sri Lanka (AP) — Sri Lanka’s government said Tuesday it is discussing obtaining another loan from Beijing to repay some of its debt to Chinese banks after China told the nearly bankrupt island nation it was not in favor of restructuring existing loans. Sri Lanka has nearly $7 billion in foreign debt due for…
CANBERRA, Australia (AP) — Uber agreed to pay a 26 million Australian dollar ($19 million) fine for misleading riders by falsely warning they could be charged a cancellation fee and for inflating estimates of comparable taxi rides, the ride share company and Australia’s consumer watchdog said Tuesday. Uber B.V., a Netherlands subsidiary of San Francisco-based…
BEIJING (Reuters) – China’s foreign ministry said on Tuesday there was no basis to speculation that Beijing could try to use leverage over electric car maker Tesla Inc in order to influence content on U.S. social media site Twitter Inc. Chinese foreign ministry spokesman Wang Wenbin was responding to a question during a regular daily…
A look at the day ahead in markets from Dhara Ranasinghe. Billionaire Elon Musk’s $44 billion cash deal to buy Twitter lit a fire under tech stocks, and broader equity markets, stalling a selloff that had threatened to take hold. Asian stocks rallied, taking their cue from Wall Street, and European shares are tipped to…
By Bernadette Christina JAKARTA (Reuters) – Indonesia is prepared to widen its ban on exports of refined palm olein if it faces domestic shortages of derivatives used in the production of cooking oil, according to details presented at a meeting between government and industry officials. The world’s biggest palm oil exporter plans to halt shipments…
TOKYO (AP) — Asian shares retreated on Wednesday, echoing a broad decline on Wall Street and driven by worries about how the war in Ukraine may push prices for oil and other commodities higher. Tokyo’s benchmark rose after Prime Minister Fumio Kishida announced measures to help poor families and small businesses as the nation copes…
By Xie Yu HONG KONG (Reuters) – Asian shares bounced up on Tuesday after a late revival on Wall Street, though global growth fears stoked by China’s strict COVID-19 curbs and an expected streak of aggressive Federal Reserve tightening sapped risk appetite. By 0450 GMT, MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up…
By Medha Singh and Lisa Pauline Mattackal (Reuters) – Ether has promised to do better. It has promised to go to the next level, edging out crypto rivals and even outshining the godfather, bitcoin. But the clock’s ticking. The No.2 cryptocurrency was supposed to be weeks away from the “merge”, a transformative June upgrade of…
SINGAPORE/LONDON (Reuters) -HSBC Holdings reported a 27% fall in quarterly profit on Tuesday, as the Asia-focussed bank suffered from decreased revenues and slowing growth in Hong Kong. Europe’s largest bank with a market value of $130 billion posted a pretax profit of $4.2 billion for the first quarter ended March, versus $5.78 billion a year…
By Leika Kihara TOKYO (Reuters) -The Asian region faces a “stagflationary” outlook amid significant uncertainty with economic growth being lower than previously expected and inflation being higher, a senior International Monetary Fund (IMF) official said on Tuesday. While Asia’s trade and financial exposures to Russia and Ukraine are limited, the region’s economies will be affected…
