BEIJING (Reuters) – Industrial and Commercial Bank of China Ltd (ICBC), the world’s largest commercial lender by assets, said net profit grew 4.9% year-on-year in the first half of this year as the Chinese economy recovered from the COVID-19 pandemic. Profit was 171.5 billion yuan ($24.82 billion)in the six months through June, compared with 163.47…
(This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine) MOSCOW (Reuters) – The rouble firmed towards 60 against the dollar and euro in early Moscow trade on Tuesday, while higher oil prices helped push Russia’s benchmark stock index to its highest point in two months. At 0716…
By Arathy Somasekhar (Reuters) -Oil prices dipped on Tuesday, paring some gains from the previous session, as the market feared that more aggressive interest rates hikes from central banks may lead to a global economic slowdown and soften fuel demand. Brent crude futures for October settlement dropped 56 cents, or 0.5%, to $104.53 a barrel…
COLOMBO, Sri Lanka (AP) — Sri Lanka’s president said Tuesday that his bankrupt country’s talks with the International Monetary Fund for a rescue package have successfully reached final stages as he presented an amended budget that seeks to tame inflation and hike taxes. President Ranil Wickremesinghe, who is also the finance minister, said in a…
BEIJING (AP) — Asian stocks followed Wall Street lower Thursday after strong U.S. jobs data fueled expectations of further interest rate hikes and Chinese manufacturing activity weakened. Shanghai, Tokyo, Hong Kong and Sydney declined. Oil prices rose nearly $1 per barrel. U.S. government data Tuesday that showed there were two jobs for every unemployed person…
A look at the day ahead in European and global markets from Anshuman DagaWith just a week to go before the European Central Bank (ECB) meets, inflation data takes centre stage for investors. But will that really change market consensus that big rate hikes are coming? Unlikely. A spate of inflation data from Germany and…
(Reuters) – Toyota Motor Corp said on Tuesday its July global vehicle production fell 8.6% year-on-year, missing its target for four straight months, as COVID outbreaks, severe weather and a recall probe on top of a persistent chip shortage hurt output. The world’s largest automaker by sales produced 706,547 vehicles worldwide last month, below its…
(Reuters) – BHP Group shareholders have sought inclusion of climate sensitivity analysis in financial statements from 2023, and requested consistency on climate policy, the world’s biggest listed miner and an advocacy firm said on Tuesday. The demands form a part of resolutions submitted to BHP by the Australasian Centre for Corporate Responsibility (ACCR) on behalf…
By Byron Kaye SYDNEY (Reuters) – An Australian regulator sent legal letters to Facebook owner Meta Platforms, Apple Inc and Microsoft Corp demanding they share their strategies for stamping out child abuse material on their platforms or face fines. The e-Safety Commissioner, a body set up to protect internet users, said it used laws which…
By Kevin Buckland TOKYO (Reuters) – The dollar languished on Tuesday after being beaten back from a two-decade high versus major peers by a reinvigorated euro. The tables turned for the two currencies as traders began ramping up bets for a super-sized 75 basis-point rate hike by the European Central Bank, while paring the odds…
