MOSCOW (Reuters) – Russian Central Bank Governor Elvira Nabiullina said on Tuesday Russia is building its international reserves with assets that cannot be targeted by Western sanctions, the TASS news agency reported. Western countries froze around $300 billion – or half – of Russia’s international reserves after Moscow sent tens of thousands of troops into…
TOKYO (Reuters) – Japanese retailer Seven & i Holdings Co said on Tuesday it will oppose a board proposal by activist investor ValueAct Capital. ValueAct, which owns a 4.4% stake in Seven & i, is calling for a spin-off of its 7-Eleven convenience store chain and is seeking to replace four of the 14 board…
By Humeyra Pamuk KARUIZAWA, Japan (Reuters) -A U.S. diplomatic convoy came under fire on Monday in Sudan in an apparent attack by fighters associated with Sudan’s paramilitary Rapid Support Forces (RSF), U.S. Secretary of State Antony Blinken said on Tuesday, in an incident he described as “reckless” and “irresponsible”. The incident prompted a direct warning…
WELLINGTON (Reuters) – Fiji must take urgent action to reduce a debt burden that exceeds 90% of gross domestic product or put at risk its recovery from the COVID pandemic and plans for sustainable economic development, the World Bank said on Tuesday. Debt has spiralled since 2019, as the tourism-dependent economy was hit by border…
SHANGHAI (Reuters) – Japanese automaker Nissan Motor aims to have seven electric vehicle (EV) models by 2026 and 80% of its line-up to be electric by 2030, chief operating officer Ashwani Gupta said on the sidelines of the Shanghai auto show on Tuesday. He said that China had already passed the tipping point where customers…
A look at the day ahead in European and global markets from Kevin Buckland China’s post-Covid recovery is firmly on track, according to a barrage of data on Tuesday. The economy expanded 4.5% in the first quarter year-on-year, accelerating from the previous 2.9% reading and handily outstripping forecasts for 4% growth. Retail sales surged more…
BEIJING (Reuters) – China’s fiscal revenue rose in March, reversing a decline in January-February, as economic activity rebounded following the end of strict COVID curbs, but the finance ministry warned that revenue growth would slow in the second half of the year. Fiscal revenue rose 0.5% in the first three months of 2023 versus the…
By Khalid Abdelaziz and Nafisa Eltahir KHARTOUM (Reuters) -Sudan’s battling factions both claimed to have made gains on Monday as violence cut power and water in the capital, and the U.N. envoy to Sudan said the two sides showed no signs of being willing to negotiate. Fighting between the army and the paramilitary Rapid Support…
SHANGHAI (Reuters) -Chinese electric vehicle (EV) maker Li Auto Inc said on Tuesday it plans to expand its line-up to 11 models by 2025, up from four currently, targeting the market for vehicles priced at 200,000 yuan ($29,100) and higher. Speaking on the sidelines of the Shanghai auto show, Li Auto’s president and chief engineer…
(Correct to add percentage indicator in headline) BEIJING (Reuters) – China’s property investment fell 5.8% from a year earlier in the first three months of 2023, from a 5.7% decline in January-February, official data showed on Tuesday. Property sales by floor area declined 1.8% year-on-year in the first quarter of the year, versus a 3.6%…
