JOHANNESBURG (Reuters) – South Africa’s rand was marginally stronger in early trade on Tuesday, with market attention this week likely to hinge on local purchasing managers’ index (PMI) surveys and a U.S. Federal Reserve interest rate meeting. At 0550 GMT, the rand traded at 18.3725 against the dollar, around 0.1% stronger than its previous close….
By Yantoultra Ngui SINGAPORE (Reuters) -DBS Group posted record first-quarter profit, with Singapore’s biggest bank saying it had benefited from inflows from depositors seeking a safe haven amid the global banking turmoil, and uncertainty over the world economy and geopolitics. Results released on Tuesday showed the bank’s January-March net profit rose a stronger-than-expected 43% to…
By Eric Onstad, Siyi Liu and Mai Nguyen LONDON/BEIJING/HANOI (Reuters) -Lithium prices rebounded this week for the first time in five months after tumbling from record highs, but new supply of the key mineral for electric vehicle (EV) batteries coming on stream is likely to weigh on the market next year. A decision by world…
By Stefanno Sulaiman JAKARTA (Reuters) – Indonesia’s consumer price index rose 4.33% annually in April, government data showed on Tuesday, slowing from the previous month and reinforcing expectations for the central bank to leave interest rates unchanged in the coming months. Annual inflation was lower than the 4.97% pace recorded in March and slightly below…
By Nupur Anand, Anirban Sen, David French and Isla Binnie NEW YORK (Reuters) – On March 12, as several U.S. banks reeled from a crisis in confidence, JPMorgan Chase & Co put its might behind First Republic Bank, giving the troubled lender what two sources said was a $10 billion financing. The JPMorgan facility did…
By Leika Kihara (Reuters) -The International Monetary Fund (IMF) raised Asia’s economic forecast on Tuesday as China’s recovery underpinned growth, but warned of risks from persistent inflation and global market volatility driven by Western banking-sector woes. The reopening of China’s economy will be pivotal for the region with the spillover to Asia seen focused on…
By Jeff Mason, Trevor Hunnicutt and David Brunnstrom WASHINGTON (Reuters) -President Joe Biden told his counterpart Ferdinand Marcos Jr. on Monday that the U.S. commitment to the defense of its ally was “ironclad,” including in the South China Sea where Manila is under pressure from China. Marcos, on the first White House visit by a…
By Lewis Jackson and Muyu Xu SYDNEY (Reuters) – More than three years since China first blocked a range of Australian imports in a political dispute, restrictions are easing, but reviving trade is proving more challenging than stopping it in the first place. A leaders meeting late last year set off a thaw in relations…
By Praveen Menon SYDNEY (Reuters) – Australia’s flagship carrier, Qantas Airways Ltd, said on Tuesday that long-serving CEO Alan Joyce would step aside in November, and named Vanessa Hudson as its next chief executive officer. Below is a timeline of key events in Joyce’s 15-year career as one of the longest-serving CEOs of a major…
By Svea Herbst-Bayliss and Carolina Mandl BEVERLY HILLS (Reuters) -Investors breathed easier on Monday after a weekend auction found a buyer for troubled First Republic Bank, though some said they were worried the crisis in regional banks is not over and hedge funds bet other dominos may still fall. As Wall Street money managers, banking…
