By Ariba Shahid KARACHI, Pakistan (Reuters) -Pakistan has to satisfy the IMF on three counts, starting with a budget due on Friday, before its board reviews whether to release at least some of the $2.5 billion still pending under a lending programme expiring this month, an IMF official said. Esther Perez Ruiz, the International Monetary…
By Nevzat Devranoglu and Ali Kucukgocmen ISTANBUL (Reuters) -A sharp selloff in Turkey’s lira slowed on Thursday, when it slipped only 0.8% compared with a 7.2% plunge the day before, as traders said it was nearing more “normal” levels ahead of the expected appointment of a new central bank governor. When the currency dropped on…
LUANDA (Reuters) – Angolan President Joao Lourenco has fired the country’s economic coordination minister and replaced him with the central bank governor in the wake of deadly protests over a reduction in a fuel subsidy. The removal of Manuel Nunes Junior was announced by the presidency in a statement on Thursday. It was not immediately…
By Simon Jessop and Susanna Twidale LONDON (Reuters) – The world’s biggest asset manager BlackRock said it hopes to raise up to $7 billion for its fourth Global Renewable Power Fund as clients ramp up climate-friendly investments. The fund, focused on projects in Organisation for Economic Co-operation and Development countries, could invest across wind and…
(Reuters) – U.S. solar energy installations soared 47% in the first quarter, according to an industry report published on Thursday, as easing panel supplies alleviated industry gridlock and allowed many stalled big projects to be completed and connected to the grid. The solar industry had its best first quarter ever, installing 6.1 gigawatts (GW), an…
By Kiyoshi Takenaka and Makiko Yamazaki TOKYO (Reuters) – Toshiba Corp said on Thursday its board has decided to recommend shareholders take up a tender offer from a group led by Japan Industrial Partners, helping pave the way for a $14 billion buyout to take the Japanese conglomerate private. The tender offer, to be launched…
LONDON (Reuters) – Asset manager Just Climate said on Thursday it had raised $1.5 billion for its inaugural fund after strong demand from institutional clients including Microsoft’s Climate Innovation Fund helped it beat the original target of $1 billion. Established by Generation Investment Management, Just Climate aims to focus investment on the sectors where cutting…
By Yantoultra Ngui and Kane Wu SINGAPORE/HONG KONG (Reuters) – Japanese insurer Tokio Marine Holdings has picked Goldman Sachs and Jefferies to work on the sale of its Southeast Asia life insurance business worth $1 billion, two sources with knowledge of the transaction said. The Tokyo-listed company is preparing to launch a sale process within…
WASHINGTON (Reuters) – U.S. wholesale inventories fell a bit less in April than initially estimated, which could provide a lift to economic growth in the second quarter. The Commerce Department said on Thursday that wholesale inventories slipped 0.1% instead of falling 0.2% as previously reported last month. Stocks at wholesalers dropped 0.2% in March. Economists…
WASHINGTON (Reuters) – U.S. wholesale inventories fell a bit less in April than initially estimated, which could provide a lift to economic growth in the second quarter. The Commerce Department said on Thursday that wholesale inventories slipped 0.1% instead of falling 0.2% as previously reported last month. Stocks at wholesalers dropped 0.2% in March. Economists…
