By Rozanna Latiff KUALA LUMPUR (Reuters) -Malaysia’s economy grew faster than expected in the first quarter buoyed by firm domestic demand, spurring the central bank to downplay fears of a global slowdown hitting the export-dependent country. Gross domestic product rose 5.6%, according to central bank and government data, faster than the 4.8% annual expansion forecast…
ISTANBUL (Reuters) – Kemal Kilicdaroglu, the main election rival of Turkish President Tayyip Erdogan, issued a warning to Russia, accusing it of responsibility for the release of fake material on social media ahead of Sunday’s ballot. Kilicdaroglu, who has a slight lead over long-time leader Erdogan according to opinion polls, did not specify to which…
(Reuters) – International Monetary Fund staff have reached agreement with Senegal on financing facilities totalling about $1.9 billion, the Fund said in a statement. The deal is subject to approval by the IMF executive board, which is tentatively scheduled to consider it in mid-June. Most of the money is a new 36-month financing arrangement under…
TOKYO (Reuters) -Toshiba Corp on Friday forecast its operating profit to dip this financial year, ahead of a planned $15-billion buyout by a consortium led by private-equity firm Japan Industrial Partners (JIP). Toshiba forecast an operating profit of 110 billion yen ($814.51 million) for the year through March 2024, a marginal drop from 110.5 billion…
By Nell Mackenzie and Sinead Cruise LONDON (Reuters) – There are few jobs Robyn Grew has not mastered at the $145 billion hedge fund Man Group, where money keeps rolling in to a fast-growing business she helped to transform. Grew, named incoming CEO on Thursday, has held executive positions in compliance, trading, legal and operations…
By Iain Withers and Sinead Cruise LONDON (Reuters) – Man Group will be led by two women for the first time in its history by the end of this year, after the London-listed hedge fund group said its long-standing CEO Luke Ellis will be succeeded by current president Robyn Grew. Ellis, who first joined Man…
SHANGHAI/SINGAPORE (Reuters) – China’s central bank is likely to keep its medium-term policy rate unchanged when rolling over such maturing loans on Monday, despite a slew of recent data pointing to faltering economic recovery, a Reuters survey showed. In a poll of 30 market watchers conducted this week, 26 participants, or 86.7%, predicted the People’s…
By Victoria Klesty OSLO (Reuters) -Norwegian Air reported a first-quarter loss on Friday, and said strong booking numbers would give the budget carrier a boost for the summer season. The January-March net loss decreased to 993 million Norwegian crowns ($94.7 million) from a year-ago loss of 1.03 billion, Norwegian said. During the first quarter, normally…
FRANKFURT (Reuters) -Germany’s Allianz on Friday posted a big rise in first-quarter net profit, rebounding after taking charges a year ago for a U.S. funds scandal. The quarterly jump in profit of 329% fell short of analyst expectations, however, and was damped in part by weakness in Allianz’s asset management division, which saw lower revenues…
By Shivani Tanna and Shubham Kalia (Reuters) -Tesla Inc increased the U.S. prices of its Model S, X, and Y electric vehicles by low single-digit percentages on Thursday, though prices were still considerably lower than at the beginning of the year. The company raised the prices for all variants of its higher-priced Model S and…
