(Reuters) – China has ramped up its effort to slow the depreciation of the yuan against the dollar this week and market participants widely believe that the People’s Bank of China (PBOC) may follow up with more policy measures if the weakness persists. The PBOC set stronger-than-expected midpoint fixing rates this week and state banks…
By John Irish, Arshad Mohammed and Parisa Hafezi PARIS/WASHINGTON/DUBAI (Reuters) -European diplomats have told Iran they plan to retain European Union ballistic missile sanctions set to expire in October under the defunct 2015 Iran nuclear deal, four sources said, a step that could provoke Iranian retaliation. The sources cited three reasons for keeping the sanctions:…
By John Irish PARIS (Reuters) – The 193 member states of the United Nations’ cultural agency are expected to back the United States’ return to the organisation almost five years after then-President Donald Trump withdrew over accusations of anti-Israel bias and mismanagement. The Paris-based agency, founded in the ashes of World War Two to protect…
SYDNEY (Reuters) – New Zealand passed a law on Thursday guaranteeing bank deposits up to NZ$100,000 ($60,770), a move it said would strengthen and protect its financial system. The Deposit Takers Bill will cover some 93% of all depositors in New Zealand in banks, credit unions, building societies and finance companies, Finance Minister Grant Robertson…
COLOMBO (Reuters) – The World Bank approved $700 million in budgetary and welfare support for Sri Lanka on Thursday, the biggest funding tranche for the crisis-hit island nation since an International Monetary Fund (IMF) deal in March. About $500 million of the funds will be allocated for budgetary support while the remaining $200 million will…
By Kirsty Needham SYDNEY (Reuters) -The former premier of Australia’s most populous state engaged in corrupt conduct involving another lawmaker with whom she was in a secret romantic relationship, a years-long corruption inquiry that examined business dealings with China said on Thursday. The New South Wales Independent Commission into Corruption (ICAC) said in a report…
TOKYO (Reuters) – Japanese automaker Toyota Motor on Thursday reported a 10% jump in global sales for May from a year earlier, benefiting from growth at home and other key markets on a recovery in the supply of chips and other parts. The company sold 838,478 vehicles globally last month, including its luxury car brand…
By Khanh Vu and Phuong Nguyen HANOI (Reuters) – Vietnam on Thursday reported faster economic growth in the second quarter, driven by the services sector, despite a slump in trade that analysts say could signal a slowdown ahead. Vietnam, a regional manufacturing hub, has been trying to prop up its economy amid slowing global demand,…
By Upasana Singh (Reuters) – Investors increased bearish bets on most Asian currencies, as a stuttering post-pandemic recovery in China, the world’s second-largest economy, weighed on sentiment, a Reuters poll showed on Thursday. Bearish bets on Thailand’s baht and the Malaysian ringgit rose to their highest since early November, while investors raised their short positions…
By Amy Lv and Dominique Patton BEIJING (Reuters) – China is set to export the most steel this year since 2016, say analysts, as the weakening yuan and competitive prices help the world’s biggest producer offload surplus metal due to weak demand at home. China’s massive steel industry has been hard hit by a months-long…
