By Maxwell Akalaare Adombila and Jorgelina do Rosario ACCRA/LONDON (Reuters) – Ghana has sent a debt restructuring proposal to its official creditors, two sources with direct knowledge of the matter said, as the West African country battles to escape its worst economic crisis in a generation. The “working proposal” is a crucial first step for…
BEIJING (Reuters) -China completed a second phase of joint air patrols with Russia over the Western Pacific on Wednesday, following flights on the previous day over the Sea of Japan and East China Sea, prompting concerns in Japan over national security. Both South Korea and Japan scrambled fighter jets on Tuesday, when the Chinese and…
BEIJING (Reuters) – Several Chinese major state banks will lower the yuan deposit rates from Thursday, state media Securities Times reported, a move that could give more room for lower lending costs in an effort to boost the economy. Some big state banks will cut interest rates on demand deposits by 5 basis points to…
(Reuters) -Australia’s trade minister Don Farrell has warned the European Union that he will not sign on a trade deal unless the bloc opens its market to more Australian farm products, the Financial Times reported on Wednesday. Farrell said an agreement with the bloc was possible only if the EU backed down on its demands…
By Selena Li HONG KONG/BEIJING (Reuters) -Citigroup’s Jane Fraser said the U.S. bank will continue to expand its Chinese business, China’s new financial regulator said, during her first visit to the country since becoming CEO. As Beijing pushes to attract more foreign capital, the National Financial Regulatory Administration (NFRA) said that Fraser held a meeting…
By Amanda Cooper and Dhara Ranasinghe LONDON (Reuters) – Japan’s negative interest rate policy is likely to be in place for the next year, as the central bank is committed to keeping borrowing costs low to grease the wheels of the economy, Nomura Asset Management told Reuters. The Bank of Japan is the only major…
By Gaurav Dogra (Reuters) – South Korea and Taiwanese equities experienced a huge influx of foreign investment during May, driven by a surge of interest in artificial intelligence (AI) and the subsequent demand for shares of hardware exporters in the region. Data from stock exchanges in South Korea, Taiwan, India, Indonesia, the Philippines, Thailand and…
A look at the day ahead in U.S. and global markets from Mike Dolan With U.S. stock market volatility back at pre-pandemic lows, you’d be forgiven for wondering where the market angst had gone. Wall St’s ‘fear index’, the VIX gauge of implied S&P500 equity volatility, closed below 14 on Tuesday for the first time…
By Mike Dolan LONDON (Reuters) -Even if some yearn for pre-pandemic familiarity after three years of global economic disruption, the euro zone may not want or need to go back there. One of the biggest questions in world markets is just how durable the changes wrought by COVID-19 – and the compounding energy shock that…
BERLIN (Reuters) – The largest air deployment exercise in NATO’s history, involving 25 nations and 250 aircraft in June, will only cause minor disruptions to civilian air traffic in Europe, Germany and the U.S. said on Wednesday. “We anticipate minimal interruptions in the flow of civilian airlines,” Michael Loh, director of the U.S. Air National…
