By Joe Cash BEIJING (Reuters) – China needs to level the playing field between private and state owned firms, the Asian Development Bank’s chief economist said on Thursday, adding that the world’s second-largest economy risks “wasting a tonne of money” with a state-led growth model. “If you just try to use brute force, spend your…
SAMARKAND, Uzbekistan (Reuters) -At a meeting in Russia’s former Central Asian backyard, the European Bank for Reconstruction and Development on Thursday pledged further support for war-torn Ukraine with plans to increase its capital by 3 billion-5 billion euros. The emerging markets lender has already earmarked 3 billion euros for Ukraine – which is fighting off…
By Shadia Nasralla LONDON (Reuters) -Oil prices were broadly stable on Thursday as traders warily watched for signs of progress on talks to raise the U.S. debt ceiling, after surging in the previous session on optimism over U.S. fuel demand. Brent crude futures inched down 13 cents, or 0.2%, to $76.83 a barrel as of…
By Kirsty Needham SYDNEY (Reuters) – U.S. President Joe Biden telephoned his Papua New Guinea counterpart James Marape on Thursday after cancelling a historic meeting in the Pacific islands nation to tell him Secretary of State Antony Blinken would travel in his place, the two leaders said. Pacific island leaders will meet Indian Prime Minister…
ANKARA (Reuters) – Tayyip Erdogan’s challenger in Turkey’s presidential race has sharpened his tone on migrants on Thursday, vowing to send all migrants back to their countries once elected in a May 28 runoff vote. Kemal Kilicdaroglu, the candidate of a six-party opposition alliance, won 45% support in Sunday’s vote while Erdogan got 49.5%, falling…
By Steven Scheer JERUSALEM (Reuters) – Israel’s central bank is expected to raise short-term interest rates by another quarter-point to a more than 16-year high next week, in what may be the last increase in an aggressive tightening cycle aimed at battling persistent inflation. All 15 economists polled by Reuters projected a 25 basis points…
(Reuters) – Bath & Body Works Inc beat first-quarter profit expectations on Thursday, as higher product prices outweighed cost pressures and a slowdown in demand, sending its shares up over 9% in premarket trading. Specialty retailers such as Bath & Body Works have selectively raised prices to shield profit margins from spiraling costs associated with…
By Ruma Paul and Sudarshan Varadhan DHAKA (Reuters) – Apparel makers in Bangladesh are considering rare bulk exports by air to Europe and the United States, as they race to meet deadlines and avoid cancellations after a cyclone delayed shipments, caused power cuts and disrupted production. The crunch could disrupt summer clothes supplies for retailers…
By Elizabeth Piper KHERSON, Ukraine (Reuters) – Valentyna Haras says she isn’t a traitor. Nonetheless, her garden walls in the Ukrainian city of Kherson are covered with graffiti marking her out as a Russian collaborator. “Rashist” – a Ukrainian blend of Russian fascist – is scrawled in red paint. Accusatory “Z”s – symbols of support…
By Paul Sandle LONDON (Reuters) -BT Group, Britain’s biggest broadband and mobile provider, will cut up to 55,000 jobs including contractors by 2030 – potentially over 40% of its workforce – as it completes its fibre roll-out and adapts to new technologies such as AI. The company has been working through a transformation plan to…
