(Reuters) -Renault will sell its majority stake in carmaker Avtovaz to a Russian science institute, the French carmaker said on Monday, adding that the deal included a six-year option to buy back the stake. The Western carmaker most exposed to the Russian market, Renault added that its holding of nearly 67.69% in Avtovaz would be…
DUBLIN (Reuters) – Ryanair on Monday posted a 355 million euro ($369.06 million) loss for the pandemic-hit 12 months to end-March, but said it was impossible to accurately forecast anything beyond hoping for a return to “reasonable profitability” this year. The Irish airline, which is operating more flights than any other European airline according to…
By Liangping Gao and Clare Jim BEIJING/HONG KONG (Reuters) – China’s property sales in April fell at their fastest pace in at least 12 years as COVID-19 lockdowns further cooled demand despite more policy easing steps aimed at reviving a key pillar of the world’s second-largest economy. Property sales by value in April slumped 46.6%…
Shares advanced in Asia on Tuesday after another wobbly day on Wall Street extended a losing streak for markets. Hong Kong advanced nearly 2.5% and other regional benchmarks were moderately higher. Oil prices slipped. Signs of progress in China’s effort to bring outbreaks of coronavirus under control appeared to be outweighing concern over weaker than…
By Choonsik Yoo and Seunggyu Lim SEOUL (Reuters) -The South Korean central bank chief’s comment that he could consider big-step interest rate raises in coming months shook the local bond market on Monday, as Asia’s fourth-largest economy also braced for fast slowing in growth. Yields on government bonds rose as traders rushed to cut their…
(Reuters) – Swiss bank Credit Suisse is close to a settlement with West Virginia Governor Jim Justice over the $690 million his mining company Bluestone Resources owes the bank’s clients, the Financial Times reported on Monday, citing sources. The Swiss bank has been focusing on some of the loans provided by Greensill, which imploded in…
BEIJING (Reuters) – China’s April property sales by value fell at their fastest pace in at least 12 years as COVID-19 lockdowns further cooled demand despite more policy easing steps aimed at reviving a key sector of the world’s second-largest economy. In April, property sales by value slumped 46.6% from a year earlier, the fastest…
WELLINGTON, New Zealand (AP) — New Zealand’s government said Monday it will help pay for lower-income families to scrap their old gas guzzlers and replace them with cleaner hybrid or electric cars as part of a sweeping plan to reduce greenhouse gas emissions. The government said it plans to spend 569 million New Zealand dollars…
BEIJING (Reuters) – China processed 11% less crude oil in April than a year earlier, with daily throughput falling to the lowest since March 2020 as refiners slashed operations on weaker demand due to widespread COVID-19 lockdowns. Crude throughput last month was 51.81 million tonnes, equivalent to 12.61 million barrels per day (bpd), data from…
By Devayani Sathyan and Prerana Bhat BENGALURU (Reuters) – The Reserve Bank of India will follow its surprise May rate rise with another hike at its meeting next month, according to a majority of analysts polled by Reuters who were exceptionally split on the size of the move. India’s retail inflation accelerated to an eight-year…
