BEIJING (Reuters) – China’s imports from Russia dropped in July, the first monthly decline since February 2021, with imports of oil and other goods having continued to rise steadily after the outbreak of conflict in Ukraine, Chinese customs data showed on Tuesday. China’s imports from Russia shrank 8% to $9.2 billion last month from a…
By Qiaoyi Li and Miyoung Kim BEIJING (Reuters) -China’s passenger vehicle sales fell for a second month in July, as discounts and government support measures failed to persuade consumers wary of buying cars amid a sputtering economy and a prolonged slump in the housing market. Automakers are concerned about a demand slowdown as the world’s…
(Reuters) – Greece’s annual EU-harmonised inflation accelerated to +3.5% in July from +2.8% in June, data showed on Tuesday. EU-harmonised inflation is an index of components that is used across the EU to measure inflation in a consistent way. Official statistics service ELSTAT also reported that headline consumer inflation in July rose to +2.5% from…
By Jan Lopatka and Marek Strzelecki PRAGUE/WARSAW (Reuters) – European gas traders have begun storing natural gas in Ukraine to take advantage of lower prices and available capacity there, regardless of the risks from the ongoing war, three traders and company officials said. Following Russia’s invasion of Ukraine, begun in February last year, the European…
GENEVA (Reuters) – War crimes committed by Myanmar’s military, including the bombing of civilians, have become “increasingly frequent and brazen”, a team of United Nations investigators said in a report published on Tuesday. The report by the Independent Investigative Mechanism for Myanmar (IIMM), which covered the period between July 2022 and June 2023, said there…
TOKYO (Reuters) – Japan’s Kobe Steel raised its net profit forecast for the current fiscal year to a record high of 120 billion yen ($839 million) on expected higher selling prices and lower fuel costs, it said on Tuesday. The forecast was increased by 20 billion yen from the previous estimate and versus 72.5 billion…
FRANKFURT (Reuters) – Euro zone consumers expect inflation to keep slowing in the next months and years but remain pessimistic about their purchasing power and house prices, a European Central Bank survey showed on Tuesday. The ECB’s monthly Consumer Expectations Survey added to evidence that the central bank’s steepest ever streak of interest rate hikes…
VIENNA/MUNICH (Reuters) – Siemens is cooperating with authorities in Austria on an investigation into allegations of possible corruption related to hospital building contracts. Several people are being investigated for serious fraud, the prosecutor’s office in Feldkirch said on Tuesday, adding that the sums involved are believed to be less than 10 million euros ($10.99 million)….
By Li Gu and Summer Zhen SHANGHAI/HONG KONG (Reuters) – Investors betting on recovery in China’s battered property sector are favouring the stocks and bonds of state-backed firms that are more likely to benefit from government support, market participants said. The hugely leveraged sector has been gutted by three years of measures aimed at curbing…
By Yadarisa Shabong (Reuters) -Holiday Inn owner IHG expects room revenue growth to remain positive across its regions in the second half of 2023 “irrespective of any” macroeconomic pressures, with leisure travel showing no sign of cooling. IHG’s global revenue per available room, a key performance indicator for the hotel industry, rose 17% in the…
