By Makiko Yamazaki TOKYO (Reuters) -Nomura Holdings Inc, Japan’s biggest brokerage and investment bank, reported a 76% drop in its quarterly net profit as worries about a global banking crisis roiled the global markets and hit its investment banking business. Nomura joined Wall Street investment banks such as Goldman Sachs Group in reporting a slump…
By Leika Kihara and Yoshifumi Takemoto TOKYO (Reuters) – The Bank of Japan (BOJ) is set to keep monetary policy steady on Friday and may struggle to raise interest rates off their ultra-low levels this year due to the weak economy, the country’s former top currency diplomat Hiroshi Watanabe said on Wednesday. With inflation exceeding…
BANGKOK (Reuters) -Thailand’s customs-based exports contracted less than expected in March as some key shipments improved, and the commerce ministry said on Wednesday it was expecting some export growth for the full year. Exports, a key driver of growth, dropped 4.2% in March from a year earlier, far better than the forecast for a year-on-year…
By Selena Li and Lawrence White HONG KONG/London (Reuters) -Standard Chartered PLC (StanChart) on Wednesday said first-quarter profit jumped 21%, beating expectations, as rising interest rates buoyed income from its cash management and retail banking businesses. Chief Executive Bill Winters said he now expects income for the emerging markets-focused lender to grow around 10% this…
By Chen Lin SINGAPORE (Reuters) -Singapore’s growth outlook in 2023 appears uncertain amid global headwinds, the central bank said on Wednesday, but price pressures may ease as rents, a key component of inflation in the city-state, moderate in coming quarters. The Monetary Authority of Singapore (MAS) said in a semi-annual report the economy is expected…
By Mike Dolan LONDON (Reuters) – Growing wealth inequality and rise of the digital economy may well have combined to undermine the entire banking system – in an intriguing connection that potentially helps tie up some loose ends in world markets. Many investment strategists have for years seen the ebb and flow of world liquidity…
LONDON (Reuters) -Canadian miner Teck Resources, the target of an unsolicited takeover bid by Glencore, narrowly missed first-quarter estimates on Wednesday, hit by lower prices, weak copper and zinc sales and higher expenses. Teck reported adjusted profit of C$1.81 per share for the three months to March 31, compared with an average analyst estimate of…
PRAGUE (Reuters) – Czech carmaker Skoda Auto, part of German group Volkswagen, wants to expand its electric vehicle range to six models by 2026, the company said, further boosting its ambitions in the shift to e-mobility. The company had previously aimed to launch three new electric models but said in a Tuesday evening release it…
By Nyasha Chingono and Wendell Roelf HARARE (Reuters) – Ben Gilpin is one of hundreds of commercial farmers who has been offered government compensation for being evicted from their land and farms two decades ago, and found the plan has come up short. Expelled from his 1,000-hectare farm during a land reform campaign led by…
SEOUL (Reuters) – Possible U.S. presidential candidate Ron DeSantis called on Wednesday for greater cooperation with South Korea as he visited Seoul on the second leg of a trip seen aimed at burnishing his foreign policy credentials for a presidential run. DeSantis, in a meeting with Prime Minister Han Duck-soo, vowed support for South Korean…
