BEIJING (Reuters) -China’s exports grew at their fastest pace in five months in June, as factories revved up after the lifting of strict COVID lockdowns, but a slowdown in imports and a darkening global backdrop pointed to a bumpy road ahead for the domestic economy. Analysts say the rebound in exports reflects the easing of…
COLOMBO, Sri Lanka (AP) — Sri Lanka’s president, who had announced he would resign Wednesday, has fled the country after months of turmoil culminated in protesters converging on the presidential palace. Here’s what’s happening in Sri Lanka: — The country is hurtling toward bankruptcy — Daily essentials including food and medicine are scarce — Political…
(Reuters) -Global recruiter PageGroup Plc reported a 25.5% rise in quarterly profit on Wednesday, supported by strong hiring demand from companies amid staff shortages and higher resignations. The recruitment sector is continuing to benefit from pent-up demand as businesses recover from the COVID-19 pandemic, with employers looking for suitable talents in a tight labour market….
By Alun John and Sam Byford HONG KONG/TOKYO (Reuters) – Stocks made slight gains across Asia on Wednesday while the euro hovered just above parity against the dollar as investors awaited a highly anticipated U.S. inflation report later in the global day. Futures were down ahead of European markets opening on Wednesday morning. FTSE futures…
BEIJING (AP) — Asian stock markets rose Thursday despite a record-setting U.S. inflation report that pointed to more possible interest rate hikes that investors worry will chill economic growth. U.S. futures edged lower while oil prices advanced. Wall Street’s benchmark S&P 500 index lost 0.4% on Wednesday after data showed U.S. consumer inflation accelerated to…
WELLINGTON, New Zealand (AP) — New Zealand’s central bank on Wednesday lifted its benchmark interest rate by half a percentage point to 2.5% as it attempts to curb inflation. It was the third time this year that the Reserve Bank of New Zealand has lifted the cash rate by 50 basis points, following hikes in…
WASHINGTON (AP) — U.S. inflation surged to a new four-decade high in June because of rising prices for gas, food and rent, squeezing household budgets and pressuring the Federal Reserve to raise interest rates aggressively — trends that raise the risk of a recession. The government’s consumer price index soared 9.1% over the past year,…
By Cynthia Kim and Jihoon Lee SEOUL (Reuters) -South Korea’s central bank raised its policy interest rate by an unprecedented half point on Wednesday, aiming to pull inflation from 24-year highs while balancing fear of a sharp economic downturn as business activity flounders. Though 6% inflation prompted calls for action, a policy rate widely seen…
By Rae Wee and Tom Westbrook SINGAPORE (Reuters) – The euro hovered a whisker above parity on the dollar on Wednesday ahead of U.S. inflation data, with traders wary a sky-high reading could force it to lows not seen in decades. The greenback was firm in Asia trade, with 50 basis point rate hikes in…
By Katanga Johnson (Reuters) – World stocks traded mixed while oil prices and bond yields dipped on Tuesday as traders fretted over prospects of further central bank tightening and worries about the health of economies worldwide. The dollar’s role as the safe-haven currency for investors concerned about the economic outlook has been burnished in recent…
