By Arsh Tushar Mogre and Prerana Bhat BENGALURU (Reuters) – The Reserve Bank of India will concentrate interest rate hikes over the coming months in a relatively short tightening cycle, according to a Reuters poll of economists who expect the repo rate to reach its terminal level early next year. Following a surprise rate rise…
By Engen Tham and Winni Zhou SHANGHAI (Reuters) – Banks in China are urging regulators to relax rigid documentation rules as companies there have not been able to fulfill them due to COVID-19 lockdowns, forcing the lenders to halt services such as loan disbursements, sources said. In China, contracts and transactions are legally recognised only…
(Reuters) – Australian bourse operator ASX Ltd on Thursday appointed internal candidate Helen Lofthouse as its first female chief executive officer, replacing Dominic Stevens. Lofthouse, who will be starting her new role from Aug. 1 is entitled to an annual fixed remuneration of A$2 million ($1.44 million), the same as Stevens’ yearly pay as seen…
By Naveen Thukral SINGAPORE (Reuters) – Australia is poised for a third year of near-record wheat production in 2022 as good weather boosts planting across its grain belt, easing concerns over tight global inventories. World wheat supplies have tightened after Russia’s invasion of Ukraine earlier this year cut off shipments from one of the top…
(Reuters) – China’s electric vehicle start-ups reported stronger sales for May and forecast continued gains for June as supply chains and output begin to recover from the disruption of COVID-19 lockdowns in Shanghai and other cities. Li Auto Inc reported a May sales gain of 166% from a year earlier to 11,496 vehicles on Wednesday….
NEW DELHI (Reuters) – India’s government in April launched its Open Network For Digital Commerce (ONDC) as a prospective alternative to dominant global giants Amazon.com and Walmart in its fast-growing e-commerce market. Here is a description of the different moving parts of ONDC. WHAT IS ONDC? ONDC is a non-profit company whose network will enable…
By Katie Paul (Reuters) -Meta Platforms Inc Chief Operating Officer Sheryl Sandberg, whose close partnership with Chief Executive Officer Mark Zuckerberg powered the growth of the world’s biggest social network, is leaving the company after 14 years, she said in a Facebook post on Wednesday. The announcement initially sent the social media firm’s shares down…
By Sheila Dang and Katie Paul (Reuters) – Meta Platforms veteran Javier Olivan is taking over as the company’s chief operating officer after playing a crucial but largely behind-the-scenes role stoking the social media company’s explosive growth for 15 years. The Spaniard will replace Sheryl Sandberg, who announced on Wednesday she was stepping down from…
By Vuyani Ndaba and Vivek Mishra JOHANNESBURG/BENGALURU (Reuters) – Battered emerging market currencies will struggle to hold on to recent gains towards year-end as U.S. Federal Reserve interest rate hikes and inflation concerns keep the dollar in the forefront, a Reuters poll found. Barely recovering from a nearly two-year bear run, positive sentiment in emerging…
SEOUL (Reuters) – South Korea’s factory activity growth slowed in May, as output and export orders contracted amid supply-chain disruptions due to China’s COVID-19 lockdown measures, a private-sector survey showed on Thursday. The S&P Global purchasing managers’ index (PMI) fell to 51.8 in May from 52.1 in April but remained above the 50-mark that indicates…
