ISLAMABAD (Reuters) -Pakistan’s finance ministry said on Tuesday arrangements had been made to repay or roll over this fiscal year’s $3.7 billion debt. “This should not be any cause of concern as arrangements have been made for the rollover/repayment of this debt,” the ministry said in a statement. Pakistan’s economy has been in turmoil for…
By Jarrett Renshaw and Trevor Hunnicutt WASHINGTON (Reuters) – U.S. President Joe Biden meets Republican House Speaker Kevin McCarthy and other congressional leaders at the White House on Tuesday afternoon for closed-door talks as a potentially catastrophic June default looms. The 4 p.m. EDT (2000 GMT) meeting is not expected to produce anything close to…
BEIJING/SHANGHAI (Reuters) – China’s passenger vehicle sales rose by 2.1% in April from a month earlier, industry data showed, underscoring a slower pace of growth as the stimulus effect of price cuts and incentives faded. Car sales in April totalled 1.65 million units, 54.5% higher from a year earlier when COVID-19 lockdowns disrupted productions and…
BERLIN (Reuters) -Daimler Truck reported on Tuesday a rise in first-quarter return on sales but maintained its 2023 outlook due to instability in the supply chain for semiconductors which it said was partly due to cyber attacks at its suppliers. The automaker itself had not been attacked, Chief Financial Officer Jochen Goetz said on a…
By Renju Jose and Kanishka Singh SYDNEY/WASHINGTON (Reuters) -A cross-party delegation of Australian lawmakers said on Tuesday they met U.S. Ambassador Caroline Kennedy, urging her to help drop the pending extradition case against WikiLeaks founder Julian Assange and allow him to return to Australia. The “Bring Julian Assange Home Parliamentary Group” said it had informed…
JOHANNESBURG (Reuters) – International Monetary Fund staff have reached agreement with Niger’s government on new financing of around $133 million and the third review of another facility that could lead to a disbursement of about $27 million, the IMF said on Tuesday. The agreement is subject to the approval of the IMF executive board, which…
MILAN (Reuters) -Iveco Group will buy full ownership of its joint venture with U.S. start-up Nikola Corp which develops battery electric and fuel cell heavy-duty trucks, the Italian truck maker said on Tuesday. With the move, Iveco will cut ties with the troubled Nikola, after forming the joint venture in 2019 to help the Italian…
FRANKFURT (Reuters) – The European Central Bank may need to raise interest rates for longer than currently anticipated, and September could be the earliest moment when policymakers can judge whether past rate hikes have been effective, ECB policymaker Peter Kazimir said on Tuesday. The ECB has lifted rates at each of its past seven meetings…
SHANGHAI (Reuters) – The American Chamber of Commerce in Shanghai said on Tuesday it was concerned about reports of investigations into U.S. due diligence and consulting firms in China and urged authorities to provide more guidance for the sector. “We are concerned by recent reports about investigations of US companies in China that specialize in…
SHANGHAI (Reuters) – The American Chamber of Commerce in Shanghai said on Tuesday it was concerned about reports of investigations into U.S. due diligence and consulting firms in China and urged authorities to provide more guidance for the sector. “We are concerned by recent reports about investigations of US companies in China that specialize in…
