By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) – The European Central Bank ended a long-running stimulus scheme on Thursday and signalled a series of rate hikes that may be scaled up from September if the inflation outlook fails to improve. With inflation at a record-high 8.1% and still rising, the ECB now fears that…
HONG KONG (Reuters) – China’s central leadership has given a tentative green light to Jack Ma’s Ant Group to revive its initial public offering plans in both Shanghai and Hong Kong, two sources with knowledge of the matter told Reuters on Thursday. Ant, an affiliate of Chinese e-commerce behemoth Alibaba Group Holding Ltd, aims to…
BRUSSELS (AP) — The European Union’s top court ruled Thursday that British citizens living long-term in the 27 EU member countries have no right to vote or stand for office in the bloc unless they have obtained a European nationality. The ruling came in what was seen as a test case for the rights of…
ANKARA, Turkey (AP) — Turkish President Recep Tayyip Erdogan on Thursday warned Greece to demilitarize islands in the Aegean Sea, saying he was “not joking” with the admonition. Turkey says Greece has been building a military presence in violation of treaties that guarantee the unarmed status of the Aegean islands. It argues the islands were…
By Emma Rumney JOHANNESBURG (Reuters) – The world’s biggest insurers are expanding in Africa, looking to tap growth promised by a rising population and middle class, but climate change could complicate their quest for profits. With Western markets overcrowded, the continent provides a rare chance to grow. In the United States, insurance premiums, including life,…
ZURICH (Reuters) – Credit Suisse Chief Executive Thomas Gottstein on Thursday called queries over a potential takeover offer from U.S. financial giant State Street “really stupid”, shutting down questions after a media report on the matter sent shares briefly spiking the day before. “We never comment on rumours. And my father once gave me advice:…
AMSTERDAM (AP) — The European Central Bank will raise interest rates next month for the first time in 11 years and add another hike in September, catching up with other central banks worldwide as they pivot from supporting the economy during the COVID-19 pandemic to squelching soaring inflation. The surprise move Thursday marks a turning…
LISBON, Portugal (AP) — Almost the whole of Portugal was in severe drought at the end of May, the country’s weather service said Thursday. The month of May was the hottest in the southern European country for the last 92 years, weather service IPMA said in its monthly climate report. The average temperature of just…
ATHENS (Reuters) – Greece on Thursday urged state entities to reduce use of air conditioning, install window shields and shut computers after working hours, to help cut electricity consumption and set an example for the rest of the country. Greece has been subsidising households since September to help consumers cope with ballooning power bills amid…
DUBAI, United Arab Emirates (AP) — A major free zone operator in Dubai owned by the sheikhdom’s ruler said Thursday it would make an initial public offering on the local stock market, the latest state asset to list in an effort to boost the city-state’s bourse. The TECOM Group, whose 10 holdings include Dubai Internet…
