BEIJING (Reuters) -China’s economy unexpectedly slowed in July, data showed on Monday, with factory and retail activity squeezed by Beijing’s zero-COVID policy and a property crisis, while the central bank surprised markets with key lending rates cuts to revive demand. Industrial output grew 3.8% in July from a year earlier, after expanding 3.9% in June,…
TOKYO (AP) — Japan’s economy grew at an annual rate of 2.2% in the April-June quarter, the government said Monday, as consumer spending rebounded with the gradual lifting of pandemic precautions. After keeping its borders closed to most travelers throughout the pandemic, Japan has slowly begun reopening to tourism, as meanwhile business has returned more…
By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) -Japan’s economy rebounded at a slower-than-expected pace in the second quarter from a COVID-induced slump, data showed on Monday, highlighting uncertainty on whether consumption will grow enough to bolster a much-delayed, fragile recovery. While rising consumption propped up April-June growth, the outlook has been clouded by a…
By Paresh Dave OAKLAND, Calif (Reuters) – America’s tech giants are taking a modern-day crash course in India’s ancient caste system, with Apple emerging as an early leader in policies to rid Silicon Valley of a rigid hierarchy that’s segregated Indians for generations. Apple, the world’s biggest listed company, updated its general employee conduct policy…
NEW DELHI (AP) — Veteran stock market investor and Indian billionaire Rakesh Jhunjhunwala, nicknamed India’s own Warren Buffett, died Sunday in Mumbai city, Press Trust of India news agency reported. He was 62. Prime Minister Narendra Modi led the tributes for the business magnate, who had an estimated net worth of $5.8 billion, according to…
By Kevin Yao and Ella Cao BEIJING (Reuters) -New bank lending in China tumbled more than expected in July while broad credit growth slowed, as fresh COVID flare-ups, worries about jobs and a deepening property crisis made companies and consumers wary of taking on more debt. Chinese banks extended 679 billion yuan ($101 billion) in…
(Reuters) – Westpac Banking Corp on Monday said its capital position at the end of the fiscal third quarter was weaker, hurt by payment of an interim dividend and higher risk weighted assets (RWA) following interest rate hikes over the quarter. Since May, the Reserve Bank of Australia (RBA) has increased its key cash rate…
(Reuters) – A look at the day ahead in Asian markets from Jamie McGeever Economic data from Asia’s two economic powerhouses kicks off the global trading day on Monday – a batch of July indicators from misfiring China, and Japan’s Q2 GDP report. We get the first insight into how China’s COVID-hit economy started Q3,…
(Reuters) – Saudi Arabia’s Kingdom Holding invested in Russian energy groups Gazprom, Rosneft and Lukoil between Feb. 22 and March 22, it said on Twitter on Sunday. Many Western nations have imposed sanctions on Russian energy firms and their executives following Russia’s invasion of Ukraine on Feb. 24. The Kingdom Holding investments fall within the…
KYIV, Ukraine (AP) — A United Nations-chartered ship loaded with 23,000 metric tons of Ukrainian grain destined for Ethiopia set sail Sunday from a Black Sea port, the first shipment of its kind in a program to assist countries facing famine. The Liberia-flagged Brave Commander departed from the Ukrainian port of Yuzhne, east of Odesa,…
