(Reuters) – Swiss bank Credit Suisse is close to a settlement with West Virginia Governor Jim Justice over the $690 million his mining company Bluestone Resources owes the bank’s clients, the Financial Times reported on Monday, citing sources. The Swiss bank has been focusing on some of the loans provided by Greensill, which imploded in…
BEIJING (Reuters) – China’s April property sales by value fell at their fastest pace in at least 12 years as COVID-19 lockdowns further cooled demand despite more policy easing steps aimed at reviving a key sector of the world’s second-largest economy. In April, property sales by value slumped 46.6% from a year earlier, the fastest…
WELLINGTON, New Zealand (AP) — New Zealand’s government said Monday it will help pay for lower-income families to scrap their old gas guzzlers and replace them with cleaner hybrid or electric cars as part of a sweeping plan to reduce greenhouse gas emissions. The government said it plans to spend 569 million New Zealand dollars…
BEIJING (Reuters) – China processed 11% less crude oil in April than a year earlier, with daily throughput falling to the lowest since March 2020 as refiners slashed operations on weaker demand due to widespread COVID-19 lockdowns. Crude throughput last month was 51.81 million tonnes, equivalent to 12.61 million barrels per day (bpd), data from…
By Devayani Sathyan and Prerana Bhat BENGALURU (Reuters) – The Reserve Bank of India will follow its surprise May rate rise with another hike at its meeting next month, according to a majority of analysts polled by Reuters who were exceptionally split on the size of the move. India’s retail inflation accelerated to an eight-year…
By Abhirup Roy and Aditya Kalra MUMBAI (Reuters) -India’s biggest retailer Reliance will acquire dozens of small grocery and non-food brands as it targets building its own $6.5 billion consumer goods business to challenge foreign giants like Unilever, two sources familiar with the plan told Reuters. Reliance, run by Indian billionaire Mukesh Ambani, plans to…
NEW DELHI (AP) — India on Sunday said it would keep a window open to export wheat to food-deficit countries at the government level despite restrictions announced two days earlier. India’s Commerce Secretary B.V.R. Subrahmanyam told reporters the government will also allow private companies to meet previous commitments to export nearly 4.3 million tons of…
SEOUL (Reuters) -South Korea’s government bond futures plunged early on Monday after the central bank chief kept the door open for a bigger interest rate increase than usual in the coming months to fight inflation. The June contract on the most liquid three-year treasury bond futures fell as much as 43 ticks before cutting losses…
MEXICO CITY (Reuters) – Mexico aims to as much as triple its fertilizer production, the government said on Sunday, to support its plan to boost local agriculture production and control consumer price inflation. The government was investing in existing fertilizer factories, it said in a statement, in line with its bid to lessen reliance on…
(Reuters) – Egypt expects to reach a new programme with the International Monetary Fund “within months”, Prime Minister Mostafa Madbouly said on Sunday in a televised news conference. In March, Egypt said it was in talks with the IMF about potential funds in addition to technical support to hedge against the economic effects of the…