LONDON (Reuters) – British house prices increased by 1.7% in the 12 months to June, the Office for National Statistics (ONS) said on Wednesday, the smallest rise since July 2020. House prices in London fell by 0.6%, the ONS said. Britain’s housing market, which boomed during the coronavirus pandemic, has come under strain from higher…
By Pavel Polityuk KYIV (Reuters) – Russian drone strikes damaged grain silos and warehouses at the Ukrainian river port of Reni on the Danube, a vital wartime route for Ukrainian food exports, senior officials said on Wednesday. Russian strikes on port infrastructure on the Danube in recent weeks have piled pressure on Ukrainian food exports…
By Clare Jim HONG KONG (Reuters) – China’s financially beleaguered property developer Country Garden promised “five-star living” to the masses in less popular, smaller cities but focusing on those areas has come back to haunt it. China’s largest developer by sales value before this year, Country Garden’s debt crisis has raised fears that its contagion…
SHANGHAI/SINGAPORE (Reuters) – Yield differentials between China and the U.S. widened to their highest in 16 years on Wednesday, as investors speculated that China’s central bank would ease monetary policy further after a surprise rate cut, even if it puts the yuan under pressure. The People’s Bank of China (PBOC) unexpectedly cut key policy rates…
BEIJING (Reuters) – Boeing named Alvin Liu head of its China unit on Wednesday, picking a Chinese-born representative recently hired from the auto industry as the aircraft maker grapples with a drought in U.S. imports to the crucial aviation market. Both Boeing and Airbus SE now have top executives in China who were born in…
AMSTERDAM (Reuters) – The Dutch economy has entered a recession as it shrank 0.3% on a quarterly basis in the second quarter, a first estimate published by Statistics Netherlands on Wednesday showed. The euro zone’s fifth largest economy shrank for the second consecutive quarter, after a 0.4% contraction in the first three months of the…
By Rachel Savage JOHANNESBURG (Reuters) – The development bank founded by the so-called BRICS countries closed the auction for its first South African rand bonds on Tuesday, as it comes under pressure to boost its local currency fundraising and lending. The New Development Bank’s (NDB) two bonds, a 1 billion rand ($52.3 million) five-year note…
By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) – Thailand’s current level of the benchmark interest rate was nearly balanced, the central bank governor said on Wednesday, adding that monetary policy would not be affected by a delay in the formation of a new government. The Bank of Thailand (BOT) has raised its key rate…
(Reuters) -Australia’s corporate regulator said on Wednesday it had asked the country’s general insurers to improve their claims handling practices and resources after it found issues in multiple areas in a review. The Australian Securities and Investments Commission (ASIC) has commenced several investigations related to claims handling practices after its review of more than 218,000…
By Naveen Thukral SINGAPORE (Reuters) -Vietnamese exporters have renegotiated higher prices for around half a million metric tons of rice, two trade sources said, as global prices climbed to 15-year highs following India’s ban on overseas sales last month. This is the first confirmation of rice prices climbing in the wake of India’s surprise ban,…
