NEW DELHI (Reuters) – Finance ministers and central bank governors of the G20 member nations are set to meet and discuss reforms to multilateral development banks, a framework for crypto assets and debt treatement of some countries, an Indian government official said Wednesday. India, which holds this year’s G20 presidency, will host global finance chiefs…
(Reuters) – National Economic Council Director Lael Brainard on Wednesday said the latest U.S. economic data shows that upward price pressures can and are receding without a surge in unemployment that many had feared. “The economy is defying predictions that inflation wouldn’t fall absent significant job destruction,” Brainard said at an event held by the…
(Reuters) – The board of the International Monetary Fund (IMF) approved a $3 billion, nine-month bailout programme for Pakistan on Wednesday, the IMF said. Pakistan and the Fund had reached a staff level agreement late last month, securing much-needed funding for the cash-strapped country. (Reporting by Gibran Peshimam and Juby Babu; Editing by Raju Gopalakrishnan…
By Ismail Shakil and Divya Rajagopal OTTAWA (Reuters) – Canada’s corporate ethics watchdog launched separate investigations into Nike Canada and Dynasty Gold to probe allegations that they used or benefited from forced Uyghur labor in their supply chains and operations in China. The investigations were launched on Tuesday after an initial assessment of complaints about the…
By Michelle Price WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Wednesday finalized long-awaited regulations to improve the resilience and transparency of the roughly $5.5 trillion U.S. money market fund industry. A critical source of short-term corporate and municipal funding, money market funds have been bailed out by the U.S. government twice…
SANTIAGO (Reuters) – Chile’s government now expects gross domestic product (GDP) to grow 0.2% in 2023, Finance Minister Mario Marcel told the Senate on Wednesday, revising its forecast down from a previous estimate of 0.3%. Internal demand in the world’s largest copper producer is seen falling 4.1% this year from 2022, Marcel added, a larger…
BERLIN (Reuters) -Germany’s finance ministry plans to offer companies a tax relief package of around 6 billion euros ($6.61 billion) per year against the backdrop of a difficult economic environment, ministry sources said. German business morale has been deteriorating, suggesting that Europe’s largest economy will struggle to shake off recession. “The economy needs stimulus –…
By Abhirup Roy SAN FRANCISCO (Reuters) – Texas again deferred a vote on grants of federal funds to build electric vehicle chargers to Aug. 16 amid pushback from some charging companies over its plan to include Tesla’s technology in charging stations, according to three sources. A spokesperson at Texas’ department of transportation confirmed that the…
(Reuters) – Inflation in Russia accelerated in June, data from the state statistics service Rosstat showed on Wednesday, a little over a week before the central bank is expected to hike interest rates for the first time in more than a year. After an emergency hike to 20% shortly after Russia invaded Ukraine in February…
By Oliver Griffin BOGOTA (Reuters) – Deforestation in Colombia fell 29.1% in 2022 versus the previous year spurred by sharp decreases in the country’s Amazon region, the government said on Wednesday, marking the lowest level since 2013. The government of leftist President Gustavo Petro says it is prioritizing protecting Colombia’s environment and has called on…
