By Emma Farge GENEVA (Reuters) -The World Trade Organization (WTO) on Tuesday revised down its forecast for global trade growth this year to 3% from 4.7% due to the impact of the Russia-Ukraine war and warned of a potential food crisis caused by surging prices. The report from the global trade watchdog said the conflict…
TAIPEI (Reuters) -Taiwan’s Pegatron Corp, which assembles iPhones for Apple Inc, said on Tuesday it had suspended operations at its Shanghai and Kunshan plants in China due to the government’s strict COVID-19 protocols. China has put Shanghai under a tight lockdown since late March and neighbouring Kunshan has also tightened curbs to control the country’s…
By Mimosa Spencer, Valentina Za and Francesco Zecchini PARIS/MILAN (Reuters) – European perfume- and cosmetics-makers face shortages of paper, glass, and some key oils and alcohols, as Russia’s invasion of Ukraine adds further disruptions to the supply chains for beauty products, driving prices higher amid robust demand. Like the food industry, the $500 billion global cosmetics sector…
BERLIN (Reuters) – German investor sentiment fell by less than expected in April, a survey showed on Tuesday, as a decline in inflation expectations gave some cause for hope about the outlook for Europe’s largest economy. The ZEW economic research institute said its economic sentiment index fell to -41.0 points from -39.3 in March. A…
DUBAI, United Arab Emirates (AP) — Dubai’s Water and Electricity Authority, known as DEWA, began trading for the first time on Tuesday, after raising just over $6 billion during its initial public offering, making it the second largest offering ever in the Middle East. While that figure still trails far below the record $29.4 billion…
COLOMBO, Sri Lanka (AP) — Sri Lanka is suspending its repayment of foreign debt, including bonds and government-to-government borrowing, pending the completion of a loan restructuring program with the International Monetary Fund to deal with the island nation’s worst economic crisis in decades, the government announced Tuesday. Sri Lankans in recent months have endured fuel…
By Uditha Jayasinghe and Jorgelina do Rosario COLOMBO/LONDON (Reuters) -Sri Lanka’s central bank said on Tuesday it had become “challenging and impossible” to repay external debt, as it tries to use its dwindling foreign exchange reserves to import essentials like fuel. The island nation’s reserves have slumped more than two-thirds in the past two years,…
SHANGHAI (Reuters) -German auto parts supplier Bosch on Tuesday said it has suspended production at two sites in the Chinese cities of Shanghai and Changchun as it follows government policies to contain a surge of COVID-19 cases. Bosch said it had paused production at a Thermotechnology factory in Shanghai and an automotive components site in…
By Joyce Lee and Byungwook Kim (Reuters) – South Korea’s SK Group said on Tuesday it was mulling investments in small-sized nuclear reactors and that one of the candidates was TerraPower, a U.S. venture founded by Bill Gates. A spokesperson for SK Inc, the holding company of the No. 3 conglomerate in South Korea, confirmed…
TOKYO (AP) — Asian shares were mostly higher Wednesday on hopes that the curbs on U.S. interest rates may moderate after new data showed signs of slowing inflation. Benchmarks rose in early trading in Japan, South Korea and Australia, while slipping in China. Regional optimism was lifted by the easing of a COVID-19 lockdown in…
