BEIJING (Reuters) -China’s economy rebounded at a faster-than-expected pace in the third quarter, but strict COVID curbs, a deepening property crisis and global recession risks are challenging Beijing’s efforts to foster a robust revival over the next year. Gross domestic product (GDP) in the world’s second-biggest economy rose 3.9% in the July-September quarter year-on-year, official…
BEIJING (AP) — China’s export growth weakened in September as global consumer demand cooled while imports rebounded from a contraction after Chinese economic growth improved. Exports rose 5.7% over a year earlier to $322.8 billion, down from August’s 7% growth, official data showed Monday. Imports gained 0.3% to $238 billion, recovering from the previous month’s…
By Wayne Cole SYDNEY (Reuters) – The U.S. dollar weathered another suspected blast of Japanese intervention to push higher on the yen on Monday, while most share markets rallied on just the hint of an eventual slowdown in U.S. rate hikes. The dollar started in a bullish mood with an early rush to 149.70 yen,…
By Vidya Ranganathan and Kevin Buckland SINGAPORE (Reuters) – The Japanese yen made a thumping 4 yen jump for a second straight session on Monday on suspected early intervention by the Bank of Japan, but struggled to hold its gains against a robust U.S. dollar. The yen hit a low of 149.70 per dollar in…
By Hari Kishan BENGALURU (Reuters) – Turmoil in global sovereign bond markets is set to persist for another six months to a year as central banks carry on raising interest rates to bring down inflation, according to a Reuters poll of market strategists. More than a year after inflation started to become a worry and…
TOKYO (Reuters) – Japanese Finance Minister Shunichi Suzuki on Monday declined to confirm whether the government had intervened in the currency market on Friday, when the dollar plunged more than 7 yen at one point in what sources said was caused by authorities’ yen-buying action. “We absolutely cannot tolerate excessive moves in the foreign exchange…
PARIS/DUBAI (Reuters) – Saudi Arabia is in advanced negotiations to order almost 40 A350 jets from Europe’s Airbus as part of strategic efforts to launch a new airline and challenge heavyweight carriers in the Gulf, industry sources said. If confirmed, the purchase by the sovereign Public Investment Fund (PIF), worth about $12 billion at list…
(Reuters) – Billionaire Elon Musk said in a tweet on Sunday pushed back by a month the date for Neuralink’s “show & tell” event to Nov. 30 and did not provide further information. The chief executive of electric car maker Tesla Inc and rocket developer SpaceX said in August that the event would be held…
RIYADH (Reuters) -Saudi Arabia’s crown prince on Sunday launched an initiative to attract investments in supply chains to and from the kingdom, with an aim of raising an initial 40 billion riyals ($10.64 billion). The initiative by Prince Mohammed bin Salman will include allocating about 10 billion riyals in incentives for supply chain investors, state…
(Reuters) – Saudi Arabia’s Crown Prince on Sunday launched a global supply chain resilience initiative to attract 40 billion Saudi riyals ($10.64 billion) of ‘quality, industrial and service investments in global supply chains’ to the kingdom in an initial phase. The initiative by Crown Prince Mohammed bin Salman will include allocating about 10 billion riyals…
