By Devayani Sathyan BENGALURU (Reuters) – Bank Indonesia will wait a few more months to raise rates from a record low despite rising inflation and aggressive moves by the U.S. Federal Reserve, according to a Reuters poll of economists that showed a growing minority expect a hike next month. Although inflation surged to 3.47% in…
KUALA LUMPUR (Reuters) – Malaysia’s Commodities Ministry on Friday said it is in discussions with the Finance Ministry to look into the viability of slashing an export tax on palm oil to 4%-6%. “This proposed temporary cut is pending a decision and we believe that Malaysian exporters are likely to be clear winners in the…
SHANGHAI (Reuters) -China cut its benchmark reference rate for mortgages by an unexpectedly wide margin on Friday, its second cut this year as Beijing seeks to revive the ailing housing sector to prop up the economy. Senior officials have pledged further measures to fight a slowdown in the world’s second-biggest economy, hit by COVID-19 outbreaks…
By Andrew Galbraith SHANGHAI (Reuters) – Asian shares jumped in early trade on Friday after China cut a key lending benchmark to support a slowing economy, but a gauge of global equities remained set for its longest weekly losing streak on record amid investor worries about sluggish growth. China cut its five-year loan prime rate…
SAO PAULO (Reuters) – Brazilian President Jair Bolsonaro and business magnate Elon Musk are scheduled to meet in Sao Paulo on Friday, Brazilian daily O Globo reported late Thursday. The two will discuss a potential partnership on rural connectivity and deforestation monitoring, according to O Globo. The meeting follows a meeting of the SpaceX and…
By Joyce Lee SEOUL (Reuters) – Samsung Electronics Vice Chairman Jay Y. Lee has been excused from attending an accounting fraud trial hearing on Friday, a court spokesperson said, as he is expected to host the U.S. President’s tour of a semiconductor plant in South Korea. Although the defendant’s attendance is required as a rule…
By Scott DiSavino (Reuters) – Oil prices were little changed on Friday as worries about weaker economic growth offset expectations that crude demand could rebound in China as Shanghai lifts some coronavirus lockdowns. Brent futures for July delivery fell 36 cents, or 0.3%, to $111.68 a barrel by 0015 GMT, while U.S. West Texas Intermediate…
By Prerana Bhat and Indradip Ghosh BENGALURU (Reuters) – The U.S. Federal Reserve will lift interest rates higher by the end of this year than anticipated just a month ago, keeping alive already-significant risks of a recession, a Reuters poll of economists found. While U.S. inflation, running at a four-decade high, may have peaked in…
OMAHA, Neb. (AP) — The mining company that wants to extract a rare heat-resistant element from the ground under southeast Nebraska says a new report shows the deposit it plans to mine holds a significant amount of other rare elements. NioCorp Developments said Thursday that the latest analysis shows the amount of rare earth elements…
By Hyunjoo Jin SAN FRANCISCO (Reuters) – Tesla CEO Elon Musk said on Thursday that “Tesla is on my mind 24/7,” trying to soothe investor worries about him being distracted by a Twitter deal that has depressed stocks at the electric car company. Posting a picture showing a woman (Tesla) who is upset by her…
