By Ariba Shahid KARACHI, Pakistan (Reuters) -Pakistan inflation rose to a record 36.4% in the year to April driven mainly by food prices, the highest rate in South Asia and up from March’s 35.4%, the statistics bureau said on Tuesday. Pakistan’s rural areas recorded food inflation of 40.2%, the bureau told Reuters. Food inflation for…
By Ariba Shahid KARACHI, Pakistan (Reuters) -Pakistan inflation rose to a record 36.4% in the year to April driven mainly by food prices, the highest rate in South Asia and up from March’s 35.4%, the statistics bureau said on Tuesday. Pakistan’s rural areas recorded food inflation of 40.2%, the bureau told Reuters. Food inflation for…
By Sourasis Bose (Reuters) – Top U.S. liquefied natural gas (LNG) exporter Cheniere Energy Inc raised its 2023 core earnings forecast on Tuesday after reporting a quarterly profit compared with a year-ago loss, sending its shares up about 1.8% in premarket trading. The United States has emerged as the world’s largest LNG exporter after Western…
(Reuters) – U.S. food distributor Sysco Corp missed Wall Street expectations for third-quarter profit on Tuesday, hurt by higher raw material costs and a stronger dollar. Shares of the Texas-based company fell about 2% in premarket trading. While supply chain constraints have started to gradually ease, this is having little impact on Sysco as it…
By Vitalii and Hnidyi HRAKOVE, Ukraine (Reuters) – A Ukrainian farmer has come up with a novel way to remove mines left in his fields after Russia’s invasion — he’s kitted out his tractor with protective panels stripped from Russian tanks and operates it by remote control. After Russian forces were driven back from parts…
By Alexander Marrow and Elena Fabrichnaya (Reuters) – Russia will keep interest rates on hold at 7.5% in 2023 as inflation ends the year above target and the economy grows marginally, a Reuters poll showed on Tuesday, with analysts split on whether the central bank’s hawkish stance is justified. The Bank of Russia kept the…
BRASILIA (Reuters) – Brazil’s government has dealt a setback to new entrants hoping to capture a larger share of the concentrated meal voucher market by delaying regulations for its long-awaited opening by one year. The move marks a blow to companies looking to benefit from a law passed in September 2022 that allows workers to…
(Reuters) – Electric vehicle maker Fisker Inc said on Tuesday it would start delivering its sports utility vehicle Ocean with swappable batteries made by Ample by the start of next year. The partnership with the battery startup will help Fisker increase scale and adoption of its EVs in the United States and Europe, the electric…
(Reuters) – U.S. companies from Amazon.com Inc and Walt Disney Co to Wall Street heavyweights Goldman Sachs Group and Morgan Stanley are slashing thousands of jobs as they look to rein in costs in anticipation of an economic downturn. Some companies such as Amazon and Meta Platforms have announced a second round of layoffs as…
(Reuters) – U.S. companies from Amazon.com Inc and Walt Disney Co to Wall Street heavyweights Goldman Sachs Group and Morgan Stanley are slashing thousands of jobs as they look to rein in costs in anticipation of an economic downturn. Some companies such as Amazon and Meta Platforms have announced a second round of layoffs as…
