By Uditha Jayasinghe COLOMBO (Reuters) -The International Monetary Fund will consider providing quick financial assistance to debt-burdened Sri Lanka following representations by India, Sri Lanka’s finance ministry said on Tuesday. A delegation headed by Sri Lanka’s Finance Minister Ali Sabry kicked off formal talks with the IMF in Washington on Monday for a programme the…
By Lisa Pauline Mattackal and Medha Singh (Reuters) – A fledgling class of crypto that feasts on risk is outshining a wider market paralyzed by war and inflation. Coins backed by gold are newer variants of “stablecoins”, which are typically pegged to the dollar to tame volatility. The largest, Pax Gold or PAXG, has jumped…
By Ben Blanchard TAIPEI (Reuters) – Taiwanese electric scooter maker Gogoro Inc has all the chips it needs for now, founder and Chief Executive Horace Luke said on Tuesday, but could face a squeeze by year-end as it pushes big plans to grow in China, India and Southeast Asia. While a global shortage of semiconductors…
By Mohi Narayan and Sonali Paul (Reuters) -Oil prices rose on Tuesday as investors fretted over tight global supply after Libya was forced to halt some exports and as factories in Shanghai prepared to reopen post a COVID-19 shutdown, easing some demand worries. Brent crude futures rose 61 cents, or 0.5%, to $113.77 a barrel…
(Reuters) – Sri Lanka has made a request to the International Monetary Fund (IMF) for Rapid Financing Instrument (RFI) support to mitigate supply chain issues, a finance minister aide said in a tweet on Tuesday. However, the IMF holds the view that Sri Lanka does not meet its criteria, Shamir Zavahir said, adding that the…
BEIJING (Reuters) – China’s state planner called on Tuesday for the implementation of policies to support the country’s catering and retail sectors. Spending on new energy vehicles (NEVs) should also be supported, said Meng Wei, spokeswoman for the National Development and Reform Commission (NDRC). Data on Monday showed March retail sales contracted the most on…
By Sonali Paul (Reuters) – Oil prices were little changed on Tuesday, after rising 1% in the previous session, as Libya was forced to halt some exports and as manufacturers in China prepared to reopen factories after a nearly three-week COVID-19 shutdown in Shanghai. Brent crude futures rose 21 cents, or 0.2%, to $113.37 a…
BUENOS AIRES (Reuters) – Argentina’s government said on Monday the country’s neediest would get help to cope with soaring prices as part of a special aid program that will be financed with taxes on business experiencing unexpected gains from the Ukraine war. Workers included in the measure will receive 18,000 pesos ($158) in two installments…
CHARLESTON, W.Va. (AP) — West Virginia will receive $99 million in a settlement finalized Monday with Johnson & Johnson’s subsidiary Janssen Pharmaceuticals Inc. over the drugmaker’s role in perpetuating the opioid crisis in the state that has long led the nation in drug overdose deaths. State Attorney General Patrick Morrisey said during a news briefing…
By Phil Lavelle (Reuters) – The company behind a cannabis mega-factory in California is hoping federal legalization of the substance will allow it to expand distribution of joints, oils and edibles beyond the borders of the most populous U.S. state. California legalized recreational cannabis in 2016, but it remains on the federal list of controlled…
