MUMBAI (Reuters) – India’s foreign exchange reserves rose for a third consecutive week and stood at $599.53 billion for the week ended May 12, their highest level since early June, the Reserve Bank of India’s (RBI) statistical supplement showed on Friday. That is an increase of $3.55 billion from the previous week. Reserves had risen…
NEW DELHI/BEIJING (Reuters) – China said on Friday that it is opposed to a G20 tourism meeting next week in the disputed Himalayan territory of Kashmir in India and will not attend. India, which holds the chair of G20 this year, has organised a series of meetings across the country in the run-up to the…
By Munsif Vengattil and Aditya Kalra NEW DELHI (Reuters) – Tesla Inc is “serious” about its plans to establish a manufacturing base in India, the country’s deputy minister for technology told Reuters in an interview on Friday, a day after meeting senior executives of the electric vehicle maker. The Elon Musk led U.S. automaker held…
By Lucy Raitano LONDON (Reuters) -Investors pumped $25.1 billion into cash in the week to Wednesday, but the flow into cash funds has slowed recently, reflecting a greater degree of investor confidence, according to a report from BofA Global Research on Friday. A total of $151 billion went into money market funds over the last…
HIROSHIMA, Japan (Reuters) – Leaders of the world richest democracies agreed on Friday to stiffen sanctions against Russia and pledged financial support for Ukraine in its fight against Russia’s invasion. Below are key extracts from the Group of Seven leaders’ statement. NEW SANCTIONS “we will broaden our actions to ensure that exports of all items…
BEIJING (Reuters) – China will resolutely curb large fluctuations in the exchange rate and study the strengthening of self-regulation of dollar deposits, the central bank said on Friday. The comment comes after the yuan dropped to multi-month lows and breached the closely watched 7-per-dollar level, pressured by a sputtering economic recovery, low yields and the…
TOKYO (Reuters) – Group of Seven leaders meeting in Hiroshima, Japan, on Friday acknowledged the need for governance of generative artificial intelligence (AI) and immersive technologies. The leaders agreed to have ministers discuss the technology as the “Hiroshima AI process” and report results by the end of the year, according to a summary of a…
HIROSHIMA, Japan (Reuters) – U.S. President Joe Biden is likely to get another update from his team on budget negotiations with Republicans on Friday night in Japan, where he is traveling for the Group of Seven (G7) meetings, a spokesperson said. Biden was also planning to leave the G7 leaders’ dinner early, according to spokesperson…
ANKARA (Reuters) – The Turkish central bank’s net international reserves dropped some $4.45 billion to a 21-year low of $2.33 billion in the week to May 12, as forex demand surged ahead of elections, official data showed on Thursday. The bank’s total gross reserves plunged $9 billion in the same week to $105.13 billion, the…
A look at the day ahead in U.S. and global markets from Yoruk Bahceli. Markets are heading into the weekend basking in optimism that a debt ceiling deal to avert a catastrophic U.S. Treasury default will be struck soon. All eyes are on Sunday, when President Joe Biden holds a press conference. His team have…
