KARACHI, Pakistan (Reuters) – Pakistan reached a staff-level agreement with the International Monetary Fund (IMF) to release $3 billion in critical bailout funds following a long drawn-out review process for the cash-strapped economy since November last year. The agreement is under a Stand-By Arrangement (SBA), as the existing Extended Financing Facility (EFF) programme signed in…
By Nell Mackenzie, Carolina Mandl and Summer Zhen LONDON/NEW YORK/HONG KONG (Reuters) -For hedge funds, the second half of 2023 is all about pouncing on the ways in which inflation, aggressive rate hikes and decarbonisation are shaping the economy. Major central banks have collectively raised rates by more than 3,750 basis points since September 2021,…
(Reuters) – German retail sales rose more than expected in May from the previous month, data showed on Friday, though analysts said the surprise rise does not indicate a change in depressed spending. The Federal Statistics Office said retail sales were up 0.4% month-on-month in real terms, beating expectations by analysts polled by Reuters that…
By Ariba Shahid (Reuters) -The International Monetary Fund (IMF) has reached a staff-level pact with Pakistan on a $3 billion stand-by arrangement, the lender said, a decision long awaited by the South Asian nation which is teetering on the brink of default. The deal, subject to approval by the IMF board in July, comes after…
By Kirsty Needham SYDNEY (Reuters) – Australian and European Union trade ministers spoke on Thursday evening, a source familiar with the matter told Reuters, as optimism builds that sticking points over a free trade agreement (FTA) can be overcome with more negotiation. A trade deal with the EU, a market of around 450 million consumers,…
By Lucy Craymer WELLINGTON (Reuters) – New Zealand is carefully managing its relationship with China and must avoid getting pulled from “pillar and post” amid the strategic rivalry between China and the United States, the Pacific nation’s foreign minister said on Friday. Nanaia Mahuta’s comments come as Chris Hipkins nears the end of a six-day…
By Marc Jones LONDON (Reuters) – The first six months of 2023 have been eventful for financial markets – from an artificial intelligence (AI) inspired tech stock surge, commodity market capitulations, cryptocurrency comebacks to the worst banking crash since Lehman Brothers. Linking it all has been the relentless rise in interest rates, which was exactly…
By Joe Cash BEIJING (Reuters) -China’s factory activity declined for a third straight month in June and weakness in other sectors deepened, official surveys showed on Friday, adding pressure for authorities to do more to shore up growth as demand falters at home and abroad. The world’s second-largest economy grew faster than expected in the…
(Reuters) -U.S.-China tensions over semiconductors began with the Trump administration’s trade war and have ratcheted up under President Joe Biden’s leadership as Washington looks to undercut Beijing’s efforts to build its high-tech industry. The U.S. and the Netherlands are set to deliver a one-two punch to China’s chipmakers by further curbing sales of chipmaking equipment,…
By Yoruk Bahceli AMSTERDAM (Reuters) – An overhaul of the private pensions system in the Netherlands – the biggest in the European Union – is leading asset managers there to rethink how they invest 1.5 trillion euros ($1.64 trillion) of retirement savings. Asset managers for top Dutch pension funds said the reform, which takes effect…
