BRUSSELS (Reuters) – U.S. Defense Secretary Lloyd Austin expressed optimism on Friday that he would eventually hold talks with his Chinese counterpart after being snubbed by Beijing during an event in Singapore earlier this month. “I’m confident that, over time, that’s going to happen. We’re going to meet at some point in time. But we’re…
By Charlotte Greenfield (Reuters) -The Taliban’s acting governor of the Afghan central bank met China’s ambassador this week to discuss banking relations and business, the bank’s spokesperson told Reuters on Friday. Afghanistan’s banking system has been severely hampered by U.S.-led sanctions, a drop in liquidity from frozen central bank assets and a cut in development…
By Arriana McLymore NEW YORK (Reuters) – Amazon is excluding its new competitor Temu from its price searching algorithm that checks if products sold on its platform are competitive with rivals, saying the site doesn’t meet its standards. According to Amazon, Temu, an e-commerce marketplace that launched in September, does not meet its strict qualification…
By Jody Godoy (Reuters) – A U.S. judge considered whether the digital assets created by Terraform Labs were securities at a hearing on Thursday, a question central to the U.S. Securities and Exchange Commission’s fraud case against the company and its founder Do Kwon. Kwon and Terraform Labs were behind two cryptocurrencies whose implosion roiled…
By Byron Kaye, Melanie Burton and Praveen Menon SYDNEY (Reuters) – Some of Australia’s biggest companies, including miners, banks and retailers, are emerging as powerful sources of support for a campaign to recognise the country’s Indigenous people in the constitution, a development that could sway the outcome of a referendum later this year. The advocacy…
By Ali Kucukgocmen and Ezgi Erkoyun ISTANBUL (Reuters) – Turkey’s central bank is expected to raise its policy rate by a huge 1,150 basis points next week, from 8.5% to 20%, a Reuters poll showed on Friday, in a policy U-turn after rate cuts under President Tayyip Erdogan led to a cost-of-living crisis. The central…
By Leika Kihara TOKYO (Reuters) -The Bank of Japan will scrutinise the effects and side-effects of its unconventional monetary policy tools deployed during a 25-year battle with deflation in a scheduled long-term review, Governor Kazuo Ueda said on Friday. Japan’s bitter memories of its decades-long battle with deflation hang heavily over the central bank’s deliberations…
By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) -The Bank of Japan maintained its ultra-easy monetary policy on Friday despite stronger-than-expected inflation, signalling it will remain a dovish outlier among global central banks and focus on supporting a fragile economic recovery. The central bank also reiterated its view that inflation will slow later this year…
By Andrew Osborn (Reuters) – Russian President Vladimir Putin on Friday thanked the president of the United Arab Emirates for his efforts in freeing prisoners of war in Ukraine and hailed what he said were expanding economic ties between Moscow and Abu Dhabi. Putin made the comments during talks with UAE President Sheikh Mohammed bin…
BEIJING (Reuters) -Several major banks have cut their 2023 gross domestic product (GDP) growth forecasts for China after May data showed a post-COVID recovery was faltering in the world’s second-largest economy. Nomura has cut its forecast for China’s 2023 GDP growth to 5.1% from 5.5%, the Japanese bank said in a note on Friday, following…
