By Ali Kucukgocmen ISTANBUL (Reuters) – Turkey’s monthly inflation was seen at 4.84% in June, partly due to the lira’s sharp decline after elections last month, a Reuters poll showed on Monday, but the annual reading was expected to decline slightly to 39.47%. The median estimate of 11 economists for the monthly inflation in June…
By Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka will announce a reworking of its domestic debt later this week to meet targets set by the International Monetary Fund (IMF) and aim to turn around its economy, which has been hammered by a financial crisis. A severe shortage of dollars tipped the island nation of 22 million…
BERLIN (Reuters) – Germany was set to raise its minimum wage by 3.4% to 12.41 euros ($13.53) an hour from 2024, based on the proposals of government-appointed commission on Monday, although unions and analysts said the hike would not be enough to cover inflation. Labour Minister Hubertus Heil said he would accept the proposals –…
By Dave Graham MEXICO CITY (Reuters) – Urbane, socially progressive and eager to put Mexico on the world stage, Marcelo Ebrard presents a sharp contrast to the popular, sharp-tongued defender of the country’s impoverished hinterlands he hopes to succeed as president. Having followed once in the footsteps of President Andres Manuel Lopez Obrador as mayor…
Karachi, PAKISTAN (Reuters) -Pakistan’s central bank raised its benchmark interest rate by 100 basis points to 22% at an emergency meeting on Monday, a day after the country revised its budget for the fiscal year from July 1 in a bid to rescue an IMF programme that expires in days. Analysts said Monday’s decision was…
By Christoph Steitz FRANKFURT (Reuters) -Siemens Energy shares fell for a second consecutive session on Monday, hit by a raft of target price cuts and rating downgrades in the wake of deeper-than-expected problems at its wind turbine division that emerged last week. It share price was down 3.3% at 1252 GMT, at the bottom of…
STOCKHOLM (Reuters) – Sweden’s path to NATO membership remains blocked by Turkey and Hungary ahead of a July summit in Vilnius where it hopes to join Nordic neighbour Finland as a full member of the alliance. Finland, which applied together with Sweden, joined NATO in April, but Turkey continues to block Swedish membership citing security…
BEIJING (Reuters) -S&P Global cut its forecast for China’s economic growth this year, underscoring the uneven nature of the country’s recovery from the pandemic which is spurring calls for further stimulus. S&P now expects China to log GDP growth of 5.2% in 2023, down from an earlier estimate of 5.5%. It was the first time…
(Reuters) – Nordson Corporation said on Monday it will buy Italy’s ARAG Group and its subsidiaries in an all-cash deal for an enterprise value of €960 million ($1.05 billion). On completion of the deal, ARAG will operate as a division in Nordson’s Industrial Precision Solutions segment, the company said in a statement. The transaction is…
MUMBAI (Reuters) – The Reserve Bank of India will likely start cutting the policy repo rate in early 2024 once headline inflation eases toward the 4% target, S&P Global Ratings said. “In India, under the assumption of normal monsoons, we expect headline consumer inflation to soften to 5% in fiscal 2024 from 6.7%,” the rating…
