BEIJING (Reuters) – There is no deflation in China and there will be no deflation in the future, a spokesman of China’s statistics bureau said on Tuesday. China’s economic recovery faces challenges, National Bureau of Statistics spokesperson Fu Linghui told a press conference in Beijing. Still, the bureau expects a decline in producer price index…
BEIJING (Reuters) -China’s property investment extended its fall for the 17th consecutive month in July, and home sales slumped, official data showed on Tuesday, as a deepening debt crisis weighs on the sector. Property investment fell 17.8% year-on-year in July after slumping 20.6% the prior month, according to Reuters calculations based on data from the National Bureau…
By Veronica Dudei Maia Khongwir BENGALURU (Reuters) – The Philippine central bank will leave its key interest rate unchanged at 6.25% for a third consecutive meeting on Thursday and keep it there for the rest of the year to assess the impact of previous hikes on inflation, a Reuters poll found. Inflation in the Southeast…
SHANGHAI/SINGAPORE (Reuters) – China’s central bank unexpectedly cut key policy rates for the second time in three months on Tuesday, in a fresh sign that the authorities are ramping up monetary easing efforts to boost a sputtering economic recovery. Analysts said the move opened the door to a potential cut in China’s lending benchmark loan…
HONG KONG (Reuters) – Shares of Country Garden rose more than 7% on Tuesday, recovering some ground after the stock plunged a day earlier as China’s largest private developer seeks to delay payment on a private onshore bond for the first time. The stock was up 7.5% at HK$0.86 at 0146 GMT. (Reporting By Anne…
By Archishma Iyer (Reuters) -National Australia Bank said on Tuesday third-quarter margins declined due to increased home lending competition and higher deposit costs, even as cash earnings rose by 5%, beating market estimates. A high interest rate environment has benefited Australian banks, but they now face headwinds from rising bad debt and increasing competition for…
By Nausheen Thusoo (Reuters) – Australia’s Treasury Wine Estates said on Tuesday it was well positioned to deliver growth in fiscal 2024 after the winemaker reported a 3.3% fall in annual profit, mainly hurt by lower sales in the United States. The Melbourne-headquartered company expects demand for luxury wine to grow globally this year, led…
By Andrew Chung (Reuters) – President Joe Biden’s administration urged the U.S. Supreme Court to take up a dispute over Republican-backed laws in Texas and Florida that would undercut efforts by social media companies to curb content deemed objectionable on their platforms. The states call the actions impermissible censorship. The justices are considering taking up…
By Hannah Lang WASHINGTON (Reuters) – The U.S. dollar hit more than a one-month high on Monday as investors sought a safe haven due to concerns about China’s economy, and traders braced for possible Japanese government intervention after the yen hit its lowest level since November. The dollar index, which tracks the currency against its…
(Reuters) -Hollywood studios have made a new offer to striking screenwriters that includes concessions on issues such as the use of artificial intelligence and access to viewer data, Bloomberg News reported on Monday citing people familiar with the discussions. The Alliance of Motion Picture & Television Producers has agreed to ensure humans are credited as…
