By Nyasha Chingono HARARE (Reuters) – The African Development Bank (AFDB) has developed financial instruments to “fast track and front load” $3.5 billion in compensation to white farmers whose land was taken from them by Zimbabwe’s government, the bank’s president said on Monday. Akinwumi Adesina’s announcement, which did not include details of the proposed instruments,…
By Paul Lienert (Reuters) – Americans in the waning days of the COVID pandemic are keeping their combustion-engine vehicles longer, according to a new study. The average age of U.S. cars and light trucks this year climbed to a record 12.5 years, reflecting the impact of supply constraints on dealer inventories of new vehicles in…
By Chijioke Ohuocha ABUJA (Reuters) – Nigeria’s annual inflation rose to 22.22% in April from 22.04% the previous month, as the price of food continued to rise, the National Bureau of Statistics said on Monday. Inflation has remained elevated in Africa’s biggest economy, eroding savings and incomes, and prompting the central bank to hike interest…
By Neil Jerome Morales and Enrico Dela Cruz CEBU, Philippines (Reuters) – The Philippine central bank could pause interest rate hikes at its monetary policy meeting this week, its governor said on Monday, after inflation in April eased for a third straight month. “If you’re sure this is a permanent trend, clearly we must pause…
By Agustin Marcarian GRAN CHACO, Argentina (Reuters) – In the vast Chaco forests of northern Argentina, Noole rests from the fierce sun in the scented shade of dark carob trees on a small farm where her family grows watermelons and potatoes to eat or sell at market. For Noole, an Indigenous Pilaga, and her brother…
BEIJING (Reuters) – China’s central bank said on Monday it would keep liquidity reasonably ample and interest rates reasonable and appropriate, focusing on supporting domestic demand amid uncertainties. The People’s Bank of China (PBOC) would provide “strong and stable” support for the real economy under its “prudent” monetary policy that would be precise and forceful,…
(This May 12 story has been corrected to change the inflation-linked bonds’ outflows to $125.3 million from $268 billion in paragraph 13) By Patturaja Murugaboopathy (Reuters) – Global equity funds witnessed a fourth successive weekly outflow in the week ended May 10, hit by deadlock over the U.S. debt ceiling and lingering worries over an…
ROME (Reuters) – Italy’s industry minister said on Monday that a cut in sales tax on baby products has not produced the expected fall in consumer prices and called for the country’s new inflation committee to hold an urgent meeting on the matter. To help families cope with the surge in inflation and encourage people…
(Reuters) -Right now, it’s all about deadlines, as lawmakers race to thrash out a deal on the U.S. borrowing limit, time runs short for Russia and Ukraine to agree on how to keep grain exports flowing and Turkish voters count the days to a second round of voting. Here’s a look at the week ahead…
SHANGHAI/BEIJING (Reuters) – Ford said on Monday it was working to reduce costs in China as it strives to recover from a long sales slump in the world’s largest auto market. “Our costs are not competitive, and we are working internally and with our partners to reduce costs in all areas,” a representative of Ford…
