BEIJING (Reuters) – The detention of Bao Fan, chairman of investment bank China Renaissance Holdings, has been extended for another three months beginning May 7, Chinese financial publication Economic Observer reported on Wednesday, citing sources. Bao was taken away by disciplinary and supervision officials on February 7 and detained, the report said. Among the agencies…
ISTANBUL (Reuters) -Turkey’s lira tumbled on Wednesday to a fresh record low against the dollar as President Tayyip Erdogan prepared to decide the shape of his new cabinet and the direction of economic policy after an election triumph. Former economy chief Mehmet Simsek, who is highly regarded by financial markets for his orthodox policy credentials,…
BERLIN (Reuters) – There is no quick recovery in sight for the inflation-hit German economy following a winter recession, the DIW economic research institute said on Wednesday, as its monthly indicator declined sharply in May. The figure for this month slumped to 91 points from 101.5 in April, falling below the 100 reading that signals…
BERLIN (Reuters) – A global employment divide between high-income and low-income countries is worsening as rising debt levels hit developing countries disproportionately, the International Labour Organisation (ILO) said on Wednesday. It urged nations to offer global financial support on job creation and social protection to help narrow the gap. While global unemployment is expected to…
By Kirsty Needham SYDNEY (Reuters) – Australia’s defence chief said on Wednesday the United States warned him in 2021 that allegations Australian special forces soldiers killed prisoners and civilians in Afghanistan may trigger a law prohibiting assistance from the United States. The United States is Australia’s biggest security alliance partner and Angus Campbell’s comments are…
By Jorgelina do Rosario and Karin Strohecker LONDON (Reuters) – A decline in labour growth and expected fall in the working age population will be a drag on emerging economies already suffering from fading growth prospects, BlackRock’s Global Head of Emerging Markets Amer Bisat told Reuters. Global population growth over the past five decades fuelled…
(Updates prices) By Harry Robertson and Kevin Buckland LONDON/TOKYO (Reuters) – The U.S. dollar rose strongly on Wednesday to a more than two-month high after data showed European inflation is cooling quicker than expected and China’s recovery is sputtering. The euro fell to $1.066 earlier in the session, the lowest since March 20. It was…
VILNIUS (Reuters) – Latvia’s parliament has elected long-serving Foreign Minister Edgars Rinkevics as the country’s next president, Prime Minister Krisjanis Karins said on Wednesday. Rinkevics will represent Latvia, a European Union and NATO member nation, at NATO’s Vilnius summit in July. Rinkevics, 49, takes the largely ceremonial role after serving as Latvia’s foreign minister since…
By Janina Nuno Rios MEXICO CITY (Reuters) – Usain Bolt said he is desperate to play a role in reviving the sport that made him a global superstar but has experienced something of a decline since his retirement six years ago. The Jamaican, who dominated men’s sprinting for nearly a decade after the 2008 Beijing…
MOSCOW (Reuters) – Russia’s defence ministry said on Wednesday that its forces had destroyed what it described as Ukraine’s “last warship” two days ago in the port of Odesa in a missile strike. Ukraine’s navy declined to comment. “The last warship of the Ukrainian navy, the Yuriy Olefirenko, was destroyed at a warship mooring in…
