By Canan Sevgili (Reuters) -Turkey’s lira extended recent losses, weakening more than 1% against the dollar on Monday, while stocks and dollar-denominated bonds rallied after the appointment of highly-regarded Mehmet Simsek as finance minister. Simsek won markets’ confidence as finance minister and deputy prime minister between 2009-2018 and his appointment is seen signalling a return…
SAO PAULO (Reuters) – Brazilian travel operator CVC said on Friday it has reached an agreement with its founder for a 75 million reais ($15.13 million) investment in the company, as well as electing a new chief executive officer. CVC founder Guilherme Paulus will make the investment through “an eventual and future” primary share offering…
HONG KONG (Reuters) – China’s securities watchdog has asked property management firm Zhuhai Wanda Commercial Management Group for more details on its corporate governance as part of its application for an initial public offering in Hong Kong. Uncertainty over the timing of Zhuhai Wanda’s IPO has led to investor concerns over the liquidity of parent…
BEIJING (Reuters) – China’s fiscal status overall is sound and safe, but some local governments are facing high debt risks and large pressure of debt repayment, state media Xinhua news agency reported on Monday, citing a finance ministry official. The comments came as investors and economists become more concerned about municipal debt risks following local…
BEIJING (Reuters) – China’s fiscal status overall is sound and safe, but some local governments are facing high debt risks and large pressure of debt repayment, state media Xinhua news agency reported on Monday, citing a finance ministry official. The comments came as investors and economists become more concerned about municipal debt risks following local…
(Fixes typo of word ‘hospitalised’ in lead paragraph) KABUL (Reuters) – Around 60 Afghan girls were hospitalised after being poisoned at their school in northern Afghanistan, police said on Monday. The poisoning, which targeted a girls’ school in the Afghan province of Sar-e Pol, comes after intense scrutiny of girls’ education in the war-torn nation…
By Khanh Vu and Francesco Guarascio HANOI (Reuters) – Vietnam’s rolling power cuts have hit industrial parks in the country’s northern provinces where top global manufacturers such as Foxconn and Samsung have factories, officials said on Monday, as a surge in consumption amid a heatwave stretched the power supply system. The frequent and often unannounced…
MOSCOW (Reuters) – OPEC+, the group of leading oil-producing countries, is important for providing stability on global energy markets, Kremlin spokesman Dmitry Peskov said on Monday, a day after the group met. OPEC+ pumps around 40% of the world’s crude and has put in place cuts of 3.66 million barrels per day, amounting to 3.6%…
ISTANBUL (Reuters) – Turkish annual inflation fell to 39.59% in May, official data showed on Monday, broadly in line with expectations, largely due to the government offsetting price rises in other goods by providing natural gas free of charge. The Turkish Statistical Institute (TUIK) said last week that it would apply a “zero price” method…
HELSINKI (Reuters) – Sweden-based Volvo Cars on Monday posted a 31% rise in sales in May compared with a year earlier, selling 60,398 cars. The 31% rise comes after a strained 2022, when the company, like other automakers, felt the effects of persistent COVID-lockdowns in China, chip shortages and other supply constraints that hampered production….
