KUALA LUMPUR (Reuters) – Malaysia’s central bank said on Tuesday it will intervene in the foreign exchange market to stabilise the ringgit currency, citing what it called “excessive” recent losses. The ringgit is trading near a seven-month low and has lost close to 6% of its value against the U.S. dollar this year, declining more…
By Kevin Yao TIANJIN, China (Reuters) -Chinese Premier Li Qiang on Tuesday said China will take steps to boost demand, invigorate markets, promote development while accelerating the green transition and opening “high level” parts of its economy to the outside world. Addressing a World Economic Forum summit in Tianjin, Li did not elaborate on China’s…
(Reuters) – The European Central Bank wants lenders to speed up their exit from Russia given the increased reputational, legal and financial risk of doing business there, supervisory chief Andrea Enria said on Tuesday. Though Europe’s top supervisor has for months said he hoped European financial bodies would cut ties with their Russian assets, the…
By Lewis Jackson SYDNEY (Reuters) – PwC Australia’s sale of its government consulting business may give it temporary respite from a crisis in its tax practice but is unlikely to repair its toxic brand in the country anytime soon, according to experts. PwC said on Sunday it would sell the division for A$1 ($0.67) to…
PARIS (Reuters) – A sizeable chunk of Renault’s planned electric vehicle spinoff could remain in free float on the stock market, its CEO said in an interview published on Tuesday, declining comment on any further strategic investor who would join partners Qualcomm and Nissan. “We need to leave some free float, because we still want…
By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) -Thailand’s exports contracted less than expected in May, as higher industrial goods shipments and a weakening baht helped offset some of the impact of sluggish global demand, the commerce ministry said on Tuesday. Customs-based exports, a key driver of Thai growth, declined 4.6% in May from a…
By Tetsushi Kajimoto TOKYO (Reuters) – Japan’s Finance Minister Shunichi Suzuki kept up verbal warnings on Tuesday against the yen’s depreciation, saying he would respond appropriately if currency moves became excessive. Suzuki’s latest warning shot came as the dollar traded at 143.43 yen, down 0.06% from late U.S. levels. Japanese officials have sounded the alarm…
By Selena Li HONG KONG (Reuters) -China’s new offshore listing rules for domestic companies have left bankers and lawyers who work on listings unsure how to take on liabilities and avoid breaching tightened confidentiality rules, Asia’s largest financial lobby group said on Tuesday. China’s long-awaited rules for offshore stock exchange listings came into effect on…
By Greg Torode and Yew Lun Tian HONG KONG (Reuters) – Amid intensifying military deployments across East Asia, high-level defence dialogue between China and the United States remains frozen. U.S. Secretary of State Antony Blinken did not secure any progress on the issue during his visit to Beijing last week. U.S. Defence Secretary Lloyd Austin…
By Vivek Mishra and Anant Chandak BENGALURU (Reuters) – India’s current account balance likely turned positive in January-March, marking the first quarterly surplus in nearly two years thanks to a narrower trade deficit and an increase in services exports, a Reuters poll found. The latest survey of 22 economists showed the current account balance likely…
