By Ali Kucukgocmen ISTANBUL (Reuters) – Turkey’s central bank is expected to raise its policy rate by 500 basis points to 20% this week, a Reuters poll showed on Monday, making good on its pledge of further tightening with another sharp hike to curb inflation which is set to rise again. The central bank raised…
By Shivangi Acharya and Sarita Chaganti Singh GANDHINAGAR, India (Reuters) – The failure of the G20 to achieve a breakthrough on debt restructuring for vulnerable countries is a “grave concern”, the head of a United Nations agency said on Monday as the body seeks pauses in debt repayment for poor nations amid rising poverty. The…
MUMBAI (Reuters) – India will need to grow at a rate of 7.6% annually for the next 25 years to become a developed nation, according to a research paper published by the central bank in its monthly bulletin on Monday. India’s per capita income is currently estimated at $2,500, while it must be more than…
By Swati Bhat and Siddhi Nayak MUMBAI (Reuters) – Food price spikes in India, typical at the onset of the monsoon, drove up headline inflation in June, corroborating the monetary policy committee’s (MPC) view that the fight against inflation is far from over, the Reserve Bank of India said on Monday. “Monetary policy has to…
FRANKFURT (Reuters) – Germany’s top union IG Metall on Monday called for Tesla to improve staffing conditions at its German gigafactory as it prepares to expand, with the carmaker due to publish its expansion plans for feedback from the community later this week. Tesla’s application to double the capacity of its Gruenheide site to 1…
By Chris Taylor (Reuters) – There is no doubt that higher interest rates are hard on a many people – especially if you are taking out a loan on a home or a car, or are struggling to catch up with credit-card debt. But for some, steep interest rates are not actually bad news. That…
(Reuters) – U.S. startup Fisker said on Monday it would produce 100 limited edition electric sports utility vehicles (SUVs) for the Indian market and expects to begin deliveries in the fourth quarter this year. The company had said in September it would begin selling its Ocean electric SUVs in India by July 2023, with local…
By Nell Mackenzie LONDON (Reuters) – Speculators have amassed their biggest long position in sterling in dollar terms since Brexit, but untamed inflation and weak growth mean the party in the pound will not last, say hedge funds and their investors. Net long speculative positions reached $4.7 billion as of July 11, the most valuable…
By Elena Fabrichnaya and Alexander Marrow MOSCOW (Reuters) – Russia’s central bank is expected to hike rates to 8% on Friday, increasing the cost of borrowing for the first time in over a year as the rouble’s sharp slide adds to inflation pressure, a Reuters poll showed. The bank has held rates at 7.5% since…
(Reuters) – Russia refused on Monday to extend the agreement that has enabled Ukraine to export grain from its Black Sea ports for the past year, complaining that promises to free up its own shipments of food and fertilisers had not been kept. Russia’s Foreign Ministry said it had notified Ukraine, Turkey and the United…
