WASHINGTON (Reuters) – The U.S. banking system remains sound and the U.S. government will take “any necessary steps” to keep it the strongest and safest financial system in the world, U.S. Treasury Secretary Janet Yellen said on Thursday. Yellen said decisive U.S. actions taken after the failure of two regional banks had shored up the…
By Ariba Shahid and Mubasher Bukhari KARACHI, Pakistan (Reuters) – Retail sales in Pakistan have witnessed a sharp drop compared to previous years in the run up to the Muslim holiday of Eid al-Fitr, retailers say, as shoppers feel the pinch of decades-high inflation. The lead up to Eid al-Fitr, expected to fall on Saturday…
MOSCOW (Reuters) -Inflationary risks in Russia must decrease in order to create room for interest rate cuts, Central Bank Governor Elvira Nabiullina said on Thursday, in hawkish comments a week before the bank next sets interest rates. The central bank has become more wary of inflation this year, warning of the risks of a widening…
NEW DELHI (Reuters) – An Indian court on Thursday acquitted 69 Hindus, including a former minister from the ruling Bharatiya Janata Party (BJP), of the murder of 11 Muslims during communal riots in the western state of Gujarat in 2002. The killings occurred in Ahmedabad on Feb. 28, 2002, a day after a suspected Muslim…
By Ben Blanchard TAIPEI (Reuters) – Taiwan’s Starlux Airlines Co Ltd is pushing Airbus SE to speed up deliveries as it seeks to expand its routes beyond Asia to keep up with booming post-pandemic demand, the carrier’s chief executive said. Starlux, Taiwan’s newest full-service airline, launched its first flights in 2020 and serves destinations including…
ASHGABAT (Reuters) -Israeli Foreign Minister Eli Cohen inaugurated a permanent embassy in the Central Asian nation of Turkmenistan on Thursday, establishing his country’s closest diplomatic presence to Iran, as Israel seeks to strengthen ties to its arch-foe’s neighbours. Although the countries established diplomatic relations 30 years ago, there had only been a temporary Israeli mission…
By Asif Shahzad ISLAMABAD (Reuters) – Pakistan has placed its first order for discounted Russian crude oil under a deal struck between Islamabad and Moscow, the country’s petroleum minister said, with one cargo to dock at the port of Karachi in May. Pakistan’s purchase gives Russia a new outlet, adding to Moscow’s growing sales to…
By Swati Bhat MUMBAI (Reuters) – India’s current rate tightening cycle may not be over as more hikes could be warranted to align inflation towards the central bank’s medium term target of 4%, minutes of this month’s Monetary Policy Committee (MPC) meeting showed on Thursday. The MPC, comprising three members from the central bank and…
By Pavel Polityuk KYIV (Reuters) -Ukrainian President Volodymyr Zelenskiy told visiting NATO chief Jens Stoltenberg on Thursday it was time for the military alliance to offer his country membership and that Kyiv needed more weapons to fight Russia. Zelenskiy made his comments at a joint news conference after talks with Stoltenberg, who offered NATO’s solidarity…
By Kirstin Ridley LONDON (Reuters) -More than 300,000 investors in the failed equity income fund run by one-time star stock picker Neil Woodford have been offered potential redress of up 235 million pounds ($292 million) after a four-year British investigation. The Financial Conduct Authority (FCA) said investors should consider the proposal by Link Fund Solutions…
