By Mai Nguyen (Reuters) – China said on Monday it will impose export restrictions on gallium and germanium products used in computer chips and other components to protect national security interests. The decision, widely seen as retaliation for U.S. curbs on sales of technologies to China, raised concerns that China might eventually limit exports of…
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s central bank is widely expected to loosen monetary policy further on Thursday, following a massive 250-basis-point interest rate cut in June, as it looks to revive growth amid a rapid fall in inflation. Sri Lanka’s economy nosedived last year after its foreign exchange reserves fell to record…
TOKYO (Reuters) – Tesla Inc cut prices in Japan of its Model 3 and Y electric vehicles by low single-digit percentages from the start of this month, it said on Tuesday. The company slashed prices for all variants of its lower-priced Model 3 by about 3%, its website showed, while reducing those of all Model…
(Reuters) – Car sales in Russia rose 151.8% year-on-year in June, analytical agency Autostat said on Wednesday, continuing to rebound from a dramatic car industry slump in 2022. Russia’s auto industry had been heavily reliant on investment, equipment and parts from overseas and was hit hard by the fallout from Western sanctions over the conflict…
By Lewis Jackson SYDNEY (Reuters) -Australia’s fourth largest pension fund suspended new work with PwC Australia on Tuesday, the latest in a string of funds to pause work with the accounting firm over a scandal which first surfaced in January over the misuse of government tax plans. The decision by UniSuper, which manages A$115 billion…
A look at the day ahead in U.S. and global markets from Mike Dolan As U.S. markets return from Independence Day, the Federal Reserve’s slightly awkward deliberations are laid bare again just as China’s markets shrink from more unnerving economic signs. Minutes from the Fed’s last policy making meeting – where it paused its brutal…
By Asif Shahzad ISLAMABAD (Reuters) – Prime Minister Shehbaz Sharif said on Wednesday that he hoped the $3 billion short-term bailout for Pakistan would be given final approval by the International Monetary Fund board when it meets on July 12. After eight months of negotiations, both sides signed a staff-level agreement on Friday, to avert…
(Reuters) – Russia’s finance ministry said on Wednesday it would sell 1.7 billion roubles’ ($18.9 million) worth of foreign currency a day between July 7 and Aug. 4, a decrease in the volume of daily operations from the previous month. After a hiatus of several months, Russia resumed foreign currency interventions in January, selling yuan…
By Andrea Shalal WASHINGTON (Reuters) -Janet Yellen’s first trip to China as U.S. Treasury Secretary will focus on recalibrating ties between the world’s two largest economies as military communications remain frozen and Beijing’s new restrictions on exports of some metals spark fresh tensions. U.S. officials say they expect “candid” discussions during Yellen’s July 6-9 trip,…
(Reuters) -Australia’s corporate regulator on Wednesday asked the country’s banks to disclose data on fees charged to Indigenous consumers after a review found they were not meeting targets for moving First Nations people into low-fee accounts. The Australian Securities and Investments Commission (ASIC) found that many Indigenous consumers are paying up to A$3,000 ($2,007) in…
