GIZA, Egypt (Reuters) – Eman Al-Adawi traverses Giza speed bumps and puddles on her scooter, one of the few women on two wheels on Egyptian streets and highways. “I learned how to drive the scooter easily because I used to ride a bike so I get how to balance,” she said. In conservative Egypt, few…
BEIJING (Reuters) -China will set up a new national financial regulatory body, replacing its banking and insurance watchdog, as part of a government overhaul announced on Tuesday that includes plans for a national data bureau. The financial regulation proposal, presented to China’s parliament during its annual meeting, would bring oversight of the industry, excluding the…
BEIJING (Reuters) -China will set up a national financial regulatory administration, according to a plan announced on Tuesday, in the biggest overhaul of the country’s financial supervisory apparatus in years. The China Banking and Insurance Regulatory Commission (CBIRC), the country’s banking and insurance watchdog, will be abolished, with its role falling under the new administration,…
BENGALURU (Reuters) -Embattled Indian conglomerate Adani Group said it prepaid share-backed financing of 73.74 billion rupees ($901.16 million), as it looks to allay fears over leverage and debt since a U.S. short seller’s critical report sparked a stock rout. Hindenburg Research had in its Jan. 24 report alleged stock manipulation and improper use of tax…
By Hannah Lang and Lisa Pauline Mattackal (Reuters) – For investors living on the digital edge, bitcoin is starting to look a little old-fashioned. Hooked on high growth, some are turning away from the original cryptocurrency – designed as an alternative to regular cash – in favor of its descendants created as native tokens of…
By Gaurav Dogra (Reuters) – Most emerging Asia ex-China equity markets witnessed foreign outflows in February as strong U.S. economic data stirred worries that the Federal Reserve would keep interest rates higher for longer than anticipated. Foreigners sold equities worth a net $2.1 billion in Thai, Indian, the Philippine and Vietnam markets, data from stock…
(Reuters) -California will not do business with Walgreens Boots Alliance Inc, state Governor Gavin Newsom said in a tweet on Monday, days after the pharmacy chain said it would not dispense abortion pills in some Republican-dominated states. The state refuses to do business with Walgreens or “any company that cowers to the extremists and puts…
By Praveen Menon and Scott Murdoch SYDNEY (Reuters) -GQG Partners Inc founder Rajiv Jain will meet clients and investors in Australia this week, the company said in a statement on Tuesday, and will explain its investment into embattled Indian Adani group. GQG Partners bought shares worth $1.87 billion in four Adani group companies, marking the…
By Blake Brittain (Reuters) – Meta Platforms Inc lost a bid on Monday to end a lawsuit in Boston federal court claiming it stole confidential information from artificial-intelligence startup Neural Magic Inc. Meta will have to face a trial over accusations that it took Neural Magic’s “breakthrough” algorithms that enable AI systems to process information…
(Reuters) – Meta Platforms Inc is planning to cut thousands more jobs as soon as this week in its fresh round of layoffs, Bloomberg News reported on Monday, citing people familiar with the matter. Meta did not respond to Reuters request for a comment outside business hours. (Reporting by Maria Ponnezhath in Bengaluru; Editing by…
