By Andrea Shalal WASHINGTON (Reuters) -The World Bank on Monday unveiled new methodology and improved safeguards for assessing the business climate in up to 180 countries after embarrassing revelations of data irregularities and favoritism toward China forced it to cancel its flagship rankings two years ago. The bank scrapped its “Doing Business” rankings in September…
By Lucinda Elliott ASUNCION (Reuters) – News of Santiago Pena’s election victory in Paraguay will be cheered by officials in Taiwan, which faces an uphill battle against China’s economic muscle to keep its remaining 13 allies worldwide, including its last in South America. Pena, who scored a sizeable win in Sunday’s presidential ballot, pledged throughout…
MANILA (Reuters) -Philippines President Ferdinand Marcos Jr said China has agreed to discuss fishing rights in the South China Sea, as he pushed for a “direct communication line” with Beijing on maritime differences. China has agreed to “sit down” and talk about Filipinos’ fishing rights in the South China Sea, Marcos said, adding he has…
By Clyde Russell LAUNCESTON, Australia (Reuters) -The surprise contraction in China’s manufacturing index in April, coming after first quarter growth exceeded expectations, underlines the uneven nature of the recovery in the world’s second-biggest economy. This variable economic story is likely to be mirrored in China’s imports of major commodities, with strength in some areas being…
(Reuters) – A look at the day ahead in U.S. and global markets from Amanda Cooper. Just when you thought it was safe to go back into the banking system, First Republic Bank has folded and U.S. regulators have agreed to sell its assets to JPMorgan. JPMorgan was one of a number of interested buyers…
By Joyce Zhou MACAU (Reuters) -Hundreds of thousands of mainland Chinese visitors have descended on the world’s biggest gambling hub of Macau for the Labour Day holiday, packing tightly into its narrow cobblestone streets and placing bets in its glitzy casinos. The surge in visitors comes after China and its special administrative region Macau lifted…
By Lucinda Elliott and Daniela Desantis ASUNCION (Reuters) -Paraguayan conservative economist Santiago Pena, 44, won the country’s presidential election on Sunday, tightening the ruling Colorado Party’s political grip in the country and defusing fears about the end of diplomatic ties with Taiwan. Pena, who has pledged to maintain Paraguay’s long-standing Taiwan relations, had 42.7% of…
By Anant Chandak BENGALURU (Reuters) – India’s factory activity expanded at its quickest pace in four months in April, driven by solid growth in new orders and output, a private survey showed on Monday, signaling resilient demand and an encouraging outlook. The survey results suggest India will continue to be one of the fastest-growing major…
By Tetsushi Kajimoto and Kentaro Sugiyama TOKYO (Reuters) – Rising inflation and an intensifying labour crunch are prodding smaller local Japanese firms to follow their big counterparts in raising pay, a move that can generate broader wage hikes and encourage the central bank to phase out its massive stimulus. Wages have barely risen in Japan…
By Krishna N. Das and Jennifer Rigby NEW DELHI/LONDON (Reuters) -An unnamed middleman in Mumbai provided a crucial raw material used in Indian-made cough syrups that have been linked to the deaths of more than 70 children in Gambia, a chemicals trader involved in the supply chain told Reuters. The World Health Organization said last…
