SARAJEVO (Reuters) – The economies of the six countries of the Western Balkans show resilience despite economic growth estimated to moderate to 2.6% in 2023 and continued price rises, the World Bank said in its regular biannual economic report for the region on Tuesday. Albania, Bosnia, Kosovo, Montenegro, North Macedonia and Serbia have surpassed pre-pandemic…
By Mehnaz Yasmin and Nupur Anand (Reuters) -First Republic Bank shares sank more than 20% after the closing bell on Monday as it said deposits plunged by more than $100 billion in the first quarter and it was exploring options such as restructuring its balance sheet. The deposit slump overshadowed profits that beat expectations for…
By Chiara Elisei LONDON (Reuters) – Around one in five loans backing commercial real estate (CRE) in Britain, France and Germany that fall due between now and 2025 are likely to face refinancing challenges given higher interest rates, real estate management firm AEW said on Tuesday. AEW estimated the CRE sector, made up of multi-family…
By Heekyong Yang and Joyce Lee SEOUL (Reuters) -South Korea’s Hyundai Motor Co said on Tuesday it had finalised a $5 billion electric vehicle (EV) battery joint venture in the U.S., boosting electrification efforts in its largest market. Hyundai also reported its first-quarter net profit had more than doubled, exceeding expectations. Its shares rose as…
TAIPEI (Reuters) -Guatemalan President Alejandro Giammattei pledged his unconditional support on Tuesday for the “Republic of Taiwan” on a trip that comes as China steps up pressure on the handful of countries that still maintain formal ties with the island. Guatemala is one of only 13 countries with official diplomatic ties with China-claimed Taiwan. Honduras…
(Reuters) -Sentiment among German exporters has rebounded to the highest point seen since the outbreak of war in Ukraine last year, according to a survey by the Ifo economic institute released on Tuesday. The institute’s export expectations indicator rose to 6.9 points in April, its highest level since February 2022 and up from 4.1 in…
By Richa Naidu LONDON (Reuters) – In a quarter that saw Nestle’s overall sales volumes dip, the KitKat maker’s candy business was a sweet spot as consumers celebrated Valentine’s Day and an early Easter with largely reduced concerns over the spread of COVID-19. Confectionary sales volumes – which Nestle calls real internal growth – grew…
By Hyonhee Shin SEOUL (Reuters) – The United States should redeploy tactical nuclear weapons in South Korea to send a clear message to North Korea and alleviate growing calls in the South for developing its own bombs, former U.S. National Security Adviser John Bolton said on Tuesday. Bolton’s remarks came as South Korean President Yoon…
LONDON (Reuters) – First-quarter job opportunities in London’s financial sector plunged by almost a third year-on-year, recruiter Morgan McKinley said on Tuesday, as firms struggle with economic and geopolitical headwinds. The collapse of U.S. lender Silicon Valley Bank and the rescue takeover of Credit Suisse by UBS last month has put thousands of UK-based finance…
By James Davey LONDON (Reuters) – British grocery inflation edged lower in April but remained near record highs, industry data showed on Tuesday, providing little relief for consumers being hammered by a cost-of-living crisis. Market researcher Kantar said grocery inflation was 17.3% in the four weeks to April 16, down from the record 17.5% in…
