By Nevzat Devranoglu and Orhan Coskun ANKARA (Reuters) – Turks will get little reprieve from a soaring cost of living this summer as economists expect prices to jump by as much as 8.5% in August, underlining Ankara’s challenge as it embarks on a painful path toward more orthodox policies. The sustained inflationary pressure, driven by…
By Kane Wu and Michael Martina HONG KONG/WASHINGTON (Reuters) -President Joe Biden’s move to prohibit some U.S. technology investments in China is expected to keep investors on the sidelines, concerned that tougher measures are ahead as tensions simmer between the world’s two biggest economies. U.S. private equity and venture capital investors have already hit the…
SHANGHAI (Reuters) – China’s Ant Group made net profit of 13.37 billion yuan ($1.85 billion) in the three months to March 31, up 17.5% from a year earlier, according to Reuters calculations from Alibaba Group Holding’s earnings report released Thursday. The e-commerce giant reports profit from Ant one quarter in arrears. Alibaba, which spun off…
By Rupam Jain and Sakshi Dayal GURUGRAM, India (Reuters) – Over 3,000 poor Muslims have fled a business hub outside New Delhi this month, fearing for their lives after Hindu-Muslim clashes and sporadic attacks targeting them, residents, police and a community group said. Shops and shacks owned or run by Muslims and their houses in…
(Reuters) – Savills Plc posted a sharp drop in half-yearly profits on Thursday as rising interest rates hit trading volumes, sending the British real estate adviser’s shares down nearly 9%. The company said group underlying profit before tax fell to 16.3 million pounds ($20.8 million) in the six months ended June 30, from 59.2 million…
By Saqib Iqbal Ahmed and Nupur Anand NEW YORK (Reuters) – The slide in U.S. bank stocks this week appeared to catch traders in the options market by surprise, data shows, raising questions over whether bank investors have become a little too comfortable with the sector that only months ago was in crisis. U.S. bank…
By Josephine Walker WASHINGTON (Reuters) – Virginia on Thursday became the eighth Republican-led U.S. state to leave a non-partisan voting-integrity partnership that has been undermined by unsubstantiated far-right charges that it favored Democrats. Member states of the Electronic Registration Information Center, or ERIC, partnership share voter registration and identification data to avoid having people registered…
A look at the day ahead in U.S. and global markets by Amanda Cooper Everyone is laser-focused on U.S. inflation right now. With a relentless set of rate hikes, the Federal Reserve has managed to drive consumer price increases down to 3%, from last June’s 9.1%. Part of the decline has been down to base…
ISTANBUL (Reuters) – Turkey aims to lower soaring inflation permanently after a transitional period where prices remain high, Finance Minister Mehmet Simsek said on Thursday in an interview with the Yeni Safak newspaper. “Our goal is to bring down inflation permanently after a transitional period,” Simsek said. The sustained price pressure, driven by a drop…
By Rajendra Jadhav MUMBAI (Reuters) -Demand for palm oil has been increasing as its discount to soyoil and sunoil has grown, driven by the recent price rise in rival oils due to production concerns in the U.S. and supply disruptions from the Black Sea region, industry officials said. This surge in demand is expected to…
