By Khalid Abdelaziz, Sarah El Safty and Nafisa Eltahir KHARTOUM/CAIRO (Reuters) – The conflict shaking Sudan has dealt a crippling blow to the heart of the country’s economy in the capital Khartoum, as well as disrupting internal trade routes, threatening imports and triggering a cash crunch. Across swathes of the capital factories, banks, shops and…
By Ron Bousso and Shadia Nasralla LONDON (Reuters) – Shell on Thursday posted first-quarter net profit of $9.65 billion, topping analysts’ forecasts, as strong earnings from fuel trading and higher liquefied natural gas (LNG) sales offset cooling energy prices. The stronger-than-expected profits followed a string of forecast-beating results from rivals including BP and Exxon Mobil…
(Reuters) – Russia plans to relaunch the multi-sport Friendship Games next year, 40 years after its first edition, Sports Minister Oleg Matytsin has told President Vladimir Putin. Matytsin said the event would be held after the Paris Olympics, which will run from July 26-Aug. 11 next year. “We propose to intensify the practice of holding…
By Ariba Shahid KARACHI (Reuters) -The International Monetary Fund (IMF) is preparing to discuss Pakistan’s budget plans for the coming financial year as part of a process to unlock a crucial financing injection for the cash-strapped nation, the IMF’s country mission chief said. An IMF review of the budget presents a fresh hurdle before the…
By Amy Lv, Rajendra Jadhav and Kavya Guduru BEIJING/MUMBAI/BENGALURU (Reuters) – On a recent evening in April, only three or four people browsed among the several gold jewellery booths in a plaza in Beijing’s high-end Wangfujing shopping district and all left without buying anything. “I’m just taking a look. I do not consider buying right…
PARIS (Reuters) -France’s antitrust watchdog on Thursday gave Facebook-owner Meta two months to change its access rules for ad verification partners, saying the company was potentially taking unfair advantage of a dominant market position in online advertising. In a statement, the competition authority said Meta must publish new access criteria for partners seeking to use…
By Rich McKay ATLANTA (Reuters) -Police have arrested a former U.S. Coast Guardsman suspected of killing one person and wounding four, all of them women, in a shooting on Wednesday at a medical building in Atlanta, then carjacking a vehicle to flee the scene, authorities said. The suspected gunman, identified as Deion Patterson, 24, was…
By Nikolaj Skydsgaard COPENHAGEN (Reuters) -Danish drug developer Novo Nordisk said it would have to halve the supply of starter doses of its popular Wegovy weight-loss drug in the United States to cope with high demand after reporting forecast-beating results on Thursday. Shares in Novo Nordisk traded down 4.7% at 0731 GMT, putting a small…
TAIPEI (Reuters) – Taiwan’s central bank debated the need for further rate hikes this year to combat persistent inflation, minutes from its last board meeting showed on Thursday. The central bank, at its quarterly board meeting in March, unanimously decided to raise its policy rate by 12.5 basis points (bps) to 1.875%, a surprise move…
By Lewis Krauskopf and David Randall NEW YORK (Reuters) – The end of a market-punishing rate hiking cycle may be in sight, but uncertainty over stock valuations and the economic outlook is keeping investors on alert for more turbulence ahead. The Federal Reserve on Wednesday signaled it may pause interest rate increases after raising rates…
