SEOUL (Reuters) – The central banks of South Korea and Indonesia signed a memorandum of understanding on Tuesday to cooperate on promoting the use of their currencies for bilateral transactions, such as current account transactions and direct investment. The cooperation will help businesses reduce their transaction costs and exposure to exchange rate risks by enabling…
(Reuters) -Vice Media Group, the company behind popular media websites such as Vice and Motherboard, is preparing to file for bankruptcy, the New York Times reported on Monday, citing people with knowledge of its operations. The media firm has received interest from five companies and might consider a sale to avoid bankruptcy, the NYT report…
SEOUL (Reuters) – South Korea’s central bank said on Tuesday inflation would keep easing at a rapid pace through the middle of this year, although core inflation would ease at a slower pace. (Reporting by Choonsik Yoo; Editing by Kim Coghill)
SEOUL (Reuters) – South Korea’s factory activity shrank for a 10th consecutive month in April and for its longest streak in six years, a survey showed on Tuesday, underlining the weak global demand conditions that continue to undercut the domestic economic recovery. The S&P Global’s seasonally adjusted purchasing managers’ index (PMI) for South Korean manufacturers…
By Laura Sanicola (Reuters) – Oil prices fell in thin early Asian trade on Tuesday as the market digests weak economic data from China and expectations of another U.S. interest rate hike. Brent crude fell by 2 cents to $79.29 a barrel by 0021 GMT, while U.S. West Texas Intermediate (WTI) crude fell 2 cents…
WASHINGTON (Reuters) – The World Bank’s 25-member executive board is set to vote on the U.S. nominee to run the World Bank, Ajay Banga, on Wednesday after completing a four-hour interview with the ex-Mastercard CEO on Monday, sources familiar with the process said. Banga, 63, the sole contender to replace departing president David Malpass, is…
By David Morgan and Richard Cowan WASHINGTON (Reuters) – U.S. lawmakers responded to news that the federal government could be unable to pay its bills as soon as June 1 by digging in on partisan positions, even as Democratic President Joe Biden agreed to meet with lawmakers on the debt ceiling next week. Democratic Senate…
BEVERLY HILLS (Reuters) – Big money managers gathered at the Milken Institute Global Conference, in Beverly Hills, California, on Monday to discuss the environment for investments amid higher interest rates, sticky inflation, banking turmoil and geopolitical tension. See below some of their comments: EDWIN CONWAY, GLOBAL HEAD OF BLACKROCK ALTERNATIVES: “This is a difficult environment…
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said in a letter to Congress that the agency may be unable to meet all of its debt obligations as soon as June 1 if the debt ceiling is not raised, putting new urgency on talks in Congress. The date is sooner than an estimate Treasury made…
By Yantoultra Ngui SINGAPORE (Reuters) -Singapore’s biggest bank DBS Group reported record first-quarter profit on Tuesday, rising a stronger-than-expected 43% from a year earlier on a higher net interest margin, sustained business momentum and resilient asset quality. Southeast Asia’s largest lender by assets however said its net interest margin likely peaked in the first quarter…
