By Ziyi Tang and Engen Tham SHANGHAI/BEIJING (Reuters) – Five of China’s largest lenders posted shrinking margins in the first quarter on Friday, as loan re-pricing bites. Borrowers are struggling to repay loans after three years of China’s zero-COVID policy hit the economy and Beijing has put pressure on lenders to reduce individual and company…
By Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka’s key inflation rate eased to 35.3% in April from 50.3% in March, the statistics department said on Friday, a sign of relief for the crisis-battered economy. The Colombo Consumer Price Index (CCPI) reflected a reduction in food inflation to 30.6% in April from 47.6% in March, while non-food…
BANGKOK (Reuters) – Thailand’s economy slowed down in March compared with the previous month, as exports declined but the service sector continued to improve from higher foreign tourist numbers, the central bank said on Friday. Economic activity is expected to have improved in April and exports should gradually pick up, the Bank of Thailand (BOT)…
A look at the day ahead in U.S. and global markets from Mike Dolan After mega tech earnings inspired the best day for Wall St stocks in almost 4 months, online retail giant Amazon cooled the frenzy somewhat on Friday – even as chipmaker Intel attempted to pick up the torch. But the dramatic re-acceleration…
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) – Asian finance leaders gathering in South Korea next week will likely debate ways to beef up safeguards against market turbulence, as global banking sector woes and fears of recession in advanced economies cloud the economic outlook. The impact of U.S. interest rate hikes on the region’s…
By Mike Dolan LONDON (Reuters) -After a torrid 2022 for its stock prices, it seems Big Tech can do no wrong again this year. The eye-popping outperformance of the U.S. digital and technology giants this year helps explain the slightly puzzling levity of stock markets amid all the recession handwringing – not least because these…
BEIJING (Reuters) – China will maintain support for the economy, focusing on domestic demand which remains inadequate, the Politburo, a top decision-making body of the ruling Communist Party, said on Friday, the state-run Xinhua news agency reported. The triple pressures facing the economy – shrinking demand, supply shocks and weakening expectations – have eased amid…
By Sophie Yu and Brenda Goh BEIJING (Reuters) – China is bracing for a record-high travel rush over the Labour Day holiday, with popular sightseeing spots selling out of tickets and some cities warning would-be visitors away as domestic tourism rebounds after Beijing ended COVID curbs. Authorities are expecting 19 million trips to be made…
By Leika Kihara TOKYO (Reuters) -The Bank of Japan (BOJ) kept ultra-low interest rates on Friday but announced a plan to review its past monetary policy moves, laying the groundwork for new Governor Kazuo Ueda to gradually phase out his predecessor’s massive stimulus programme. While maintaining its commitment to “patiently” keep policy accommodative, the central…
(Reuters) – The Bank of Japan (BOJ) on Friday kept ultra-low interest rates but announced a broad review of its monetary policy, laying the groundwork for new Governor Kazuo Ueda to gradually phase out his predecessor’s massive stimulus programme. Following are excerpts from the news conference, which was conducted in Japanese, as translated by Reuters:…
