SYDNEY (Reuters) – The Reserve Bank of Australia (RBA) has announced changes to how it formulates and announces interest rate decisions, following an independent review into the bank’s operation. Here are the major steps proposed, while some recommendations from the review are still to be decided on. EIGHT MEETINGS Starting from February 2024, the RBA’s…
(Reuters) -The armed confrontation in Ukraine will continue until the West gives up plans to dominate and defeat Moscow, Russian Foreign Minister Sergei Lavrov said in an interview with an Indonesian newspaper published on Wednesday. The goal of the “US-led collective West” is to strengthen its global hegemony, Lavrov told the Kompas newspaper. Lavrov is…
By Heekyong Yang and Ju-min Park SUWON, South Korea (Reuters) – The trial of a South Korean chip executive accused of stealing sensitive information developed by Samsung Electronics began on Wednesday in a case that underscores South Korea’s crackdown on industrial espionage. Prosecutors have alleged that Choi Jinseog, a former Samsung Elec executive and a…
By Lucy Craymer WELLINGTON (Reuters) – New Zealand’s central bank held the cash rate steady at 5.5% on Wednesday, hitting pause as expected and flagging rates would be on hold for some time, with most economists still expecting rate cuts to come in 2024. With the country in a technical recession, the RBNZ said the…
By Idrees Ali CAMP SMITH, Hawaii (Reuters) – The United States’ top general met his South Korean and Japanese counterparts for a rare trilateral meeting in Hawaii on Tuesday, as North Korea conducted its latest ballistic missile test launch. Washington has been pressing the uneasy neighbors to work more closely to better counter rising threats…
By Rocky Swift TOKYO (Reuters) – The Japanese operator of apparel retailer Uniqlo is expected by analysts to post a 25% jump in profit to a third-quarter record on Thursday, when the focus will be on whether its sales recovery in China is on track. Fast Retailing’s operating profit in the three months through May…
By Manoj Kumar and Jatindra Dash and Sumit Khanna BHUBANESWAR, India (Reuters) – The world’s major accounting firms are stepping up investments in new Indian facilities away from bigger cities as global demand for cheaper back office operations grows and smaller towns move up the economic value chain. For decades, large multinational corporations have rushed…
SEOUL (Reuters) – South Korean President Yoon Suk Yeol is set to meet Japanese Prime Minister Fumio Kishida on Wednesday on the sidelines of a NATO summit, with the release of radioactive water from the Fukushima nuclear plant and North Korea expected on the agenda. Japan plans to soon start releasing more than a million…
By Renju Jose SYDNEY (Reuters) – Australia Treasurer Jim Chalmers said on Wednesday the cabinet would meet soon to decide the next governor of the country’s central bank, after local media reported that a government decision could be reached as early as this week. Markets are still in the dark whether Chalmers will extend Reserve…
By Leika Kihara TOKYO (Reuters) – Japan’s wholesale inflation slowed for a sixth straight month in June due to sliding fuel and commodity prices, data showed on Wednesday, a sign the cost-push pressure that drove up consumer prices is steadily easing. The data underscores the central bank’s view that consumer inflation will slow in coming…
