(Reuters) – Share prices of COSCO SHIPPING Ports Ltd rose to as much as a three-month high on Thursday, after the German government cleared it to buy part of a Hamburg port-based container terminal, amid a political row over Chinese investment. The Hong Kong-listed subsidiary of China’s state-owned conglomerate China COSCO SHIPPING Corporation Limited rose…
A look at the day ahead in European and global markets from Kevin Buckland. U.S. Treasury Secretary Janet Yellen is highlighting three core priorities at the start of the G7 finance ministers’ three-day meeting in Niigata, Japan today: reining in global inflation, bolstering long-term economic resilience, and redoubling a commitment to Ukraine. But almost everyone…
By Liangping Gao and Kevin Yao BEIJING (Reuters) – China’s consumer prices rose at the slowest pace in more than two years in April, while factory gate deflation deepened, data showed on Thursday, suggesting more stimulus may be needed to boost a patchy post-COVID economic recovery. The weak consumer price rise reinforces the signals from…
By Neil Jerome Morales and Enrico Dela Cruz MANILA (Reuters) -Philippine economic growth cooled to its slowest in two years in the first quarter as red-hot inflation and high interest rates dampened consumption, but a slew of positive data, including a drop in jobless rates, pointed to a rosy outlook for 2023. Gross domestic product…
By Chen Aizhu SINGAPORE (Reuters) – China has dramatically increased use of the yuan to buy Russian commodities over the past year, with nearly all of its purchases of oil, coal and some metals from its neighbour now settled in the Chinese currency instead of dollars, multiple trading executives with direct knowledge of the matter…
BEIJING (Reuters) – China and Ecuador signed a free trade agreement on May 11, China’s commerce ministry said on Thursday. The two sides will create a more favourable, transparent and stable business environment for enterprises through the FTA, and further stimulate the potential of trade and investment cooperation between the two countries, the ministry said….
SEOUL (Reuters) – South Korea’s top government research body has cut its economic growth forecast for this year to 1.5% from its earlier view of 1.8%, saying a deeper and longer export slump than previously expected is likely to offset resilient private consumption. The Korea Development Institute’s latest projection compared with the 2.6% that Asia’s…
By Tim Reid (Reuters) – Republican former President Donald Trump on Wednesday played down the severity of a potential U.S. government default, saying the consequences of a failure by Congress to raise the nation’s debt limit “could be maybe nothing.” Most economists warn that a failure to raise the debt ceiling by June 1, when…
By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) – China will be the elephant in the room at this week’s meeting of Group of Seven (G7) finance leaders, who will seek to diversify supply chains away from the country — but also try to get Beijing’s cooperation in solving global debt problems. The conflicting goals…
SHANGHAI/BERLIN (Reuters) – Automakers including Volkswagen and General Motors could have considerable unused production capacity for conventionally powered vehicles in China by 2030 if they do not speed up their transition to electric vehicles (EV), Greenpeace said on Thursday. As demand for new energy vehicles (NEV) – including fully electric and plug-in hybrid cars –…
