By Nevzat Devranoglu ANKARA (Reuters) -Turkey will take steps to lower inflation and will follow free market rules as it acts to raise competitiveness and productivity, Vice President Cevdet Yilmaz said on Thursday after chairing a meeting of a key economic coordination board. Since his election victory last month, President Tayyip Erdogan has appointed a…
FRANKFURT (Reuters) – The European Central Bank raised interest rates for the eighth successive time as expected on Thursday and signalled further policy tightening, as it battles high inflation. The ECB has now increased borrowing costs by a combined 4 percentage points in a year, its fastest pace on record, but a peak is now…
By Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka’s economy shrank 11.5% in the first three months of 2023, official data showed on Thursday, as the country remained in the grip of its worst financial crisis in decades. The downturn was driven by high inflation and high interest rates, the rising cost of components, as well as…
(Refiles to correct name in paragraph 15) By Laurie Chen BEIJING (Reuters) – A senior employee of the Beijing-based Asian Infrastructure Investment Bank (AIIB) said on Thursday he was advised to flee the country after resigning from the bank in protest over what he alleged was Chinese Communist Party influence. Bob Pickard, a Canadian national…
(Changes headline, lead and paragraphs 2, 8 and 9 to show plan is for production of electric motorcycles, not motorcycle batteries) MANILA (Reuters) – China’s Yadea Group Holdings, one of the world’s biggest electric two-wheeled vehicle makers, plans to invest about $1 billion in an e-motorcycle factory in the Philippines, the country’s investment promotions agency…
(Changes headline, lead and paragraphs 2, 8 and 9 to show plan is for production of electric motorcycles, not motorcycle batteries) MANILA (Reuters) – China’s Yadea Group Holdings, one of the world’s biggest electric two-wheeled vehicle makers, plans to invest about $1 billion in an e-motorcycle factory in the Philippines, the country’s investment promotions agency…
KYIV (Reuters) -Overnight Russian missile attacks killed three people in the Black Sea city of Odesa and three in the Donetsk region of eastern Ukraine, Ukrainian officials said on Wednesday. The three killed in Odesa were in a retail chain warehouse that was set ablaze during an attack that damaged a business centre, an educational…
By Joseph White DETROIT (Reuters) – The venture capital arm of automaker Stellantis said on Thursday it will invest about 100 million euros ($108.3 million) in automotive and battery technology startups and a mobility venture fund. Stellantis Ventures, created last year with 300 million euros of initial capital, will put money in ten startups ranging…
A look at the day ahead in U.S. and global markets from Dhara Ranasinghe. A day after the Federal Reserve took markets by surprise with a hawkish message, it’s the European Central Bank’s turn in the hot seat. Short-dated government bond yields in the United States and Europe are heading back up and bullish stock…
By Lucy Raitano LONDON (Reuters) – Investors are turning their attention back to European small and mid-cap stocks as low valuations spark long-term interest even as the immediate economic outlook remains gloomy. Europe’s smaller companies have seen relative valuations sink as concerns about an economic slowdown have favoured defensives over cyclicals, while banking turmoil stoked…
