By Ariba Shahid KARACHI, Pakistan (Reuters) – Pakistan’s government will hope to find a balance between reforms to satisfy the International Monetary Fund and measures to win over voters in an imminent election in its budget for the 2023-24 fiscal year to be announced on Friday, analysts said. Pakistan’s IMF programme runs out this month…
By Makiko Yamazaki and Ritsuko Shimizu TOKYO (Reuters) – Japan’s financial regulator is exploring ways to bolster financing for leveraged buyouts (LBOs) and is in discussions with big banks and other institutions about how to bring more participants into the market, regulatory officials said. As more corporations step up sales of non-core assets or seek…
By Maria Martinez BERLIN (Reuters) -German industrial output rose less than expected in April, darkening the outlook for the euro zone’s largest economy following weak new orders data earlier this week. Production increased by 0.3% on the previous month, the federal statistical office said on Wednesday. In a Reuters poll, analysts had pointed to an…
HONG KONG (Reuters) – Some of China’s distressed property developers face the risk of being delisted, which would reduce their options for restructuring and make them more vulnerable to liquidation, S&P Global Ratings said on Wednesday. China’s private developers have been in turmoil since mid-2021 after Beijing’s crackdown on debt impacted first Evergrande Group and…
By Blake Brittain (Reuters) -Realtek Semiconductor Corp sued rival Taiwanese chipmaker MediaTek Inc in Northern California federal court on Tuesday, claiming MediaTek paid a company that sues over patents a “secret litigation bounty” to file meritless lawsuits in the United States to disrupt its business. The lawsuit accuses MediaTek of conspiring with IPValue Management Inc…
By Leigh Thomas PARIS (Reuters) -Global economic growth will pick up only moderately over the next year as the full effects of central bank rate hikes are felt, softening the boost from lower inflation, the OECD said on Wednesday, nudging up its 2023 economic outlook. The world economy is set to grow 2.7% this year,…
By Scott Murdoch and Kane Wu SYDNEY/HONG KONG (Reuters) – Private equity firm Hillhouse Capital Group has offered to make concessions in its purchase of Australian medical researcher George Clinical to gain regulatory approval after an unusually long review, said two people with knowledge of the matter. Hillhouse will retain Australian directors and keep data…
By Nikolaj Skydsgaard COPENHAGEN (Reuters) -Danske Bank on Wednesday raised its long-term earnings target and said it plans to divest its Norwegian retail business as part of a strategy to catch up with more profitable Nordic rivals. Denmark’s largest lender now aims for a return on equity (ROE) by 2026 of 13%, up from a…
(Reuters) -Britain’s Payment Systems Regulator (PSR) said on Wednesday it has made it mandatory for banks and payment firms to reimburse victims of online bank fraud within five days, in cases where users at a business send money to a bank account controlled by fraudsters. Thousands of people have seen their savings swept away in…
By Elena Fabrichnaya MOSCOW (Reuters) – Russia’s No. 2 lender VTB expects to raise 94 billion roubles ($1.15 billion) in its secondary public offering (SPO), CFO Dmitry Pyanov said, in a capital top-up that will see an undisclosed investor acquire a chunk of the state’s share in the bank. VTB purchased rival Otkritie for 340…
