By Birsen Altayli and Can Sezer ISTANBUL (Reuters) – The deadliest earthquake in Turkey’s modern history has reawakened fears on the other side of the country that Istanbul is an even bigger disaster waiting to happen, sending hundreds of thousands scrambling to find safer homes. Some 5 million of the 16 million residents of Turkey’s…
By Ahmad Ghaddar LONDON (Reuters) – European Union and G7 restrictions on Russian oil exports led to a global shift in oil flows, with Asian refiners soaking up discounted Russian crude, in part explaining the recent OPEC+ decision to curtail output further, the West’s energy watchdog said on Friday. With the arrival of over three…
(Reuters) – Loblaw Companies Ltd on Friday said it would spend C$2 billion ($1.50 billion) to expand its business in 2023 and create more than 6,000 new jobs in retail, supply chain, technology and construction in Canada. The Canadian retailer’s investment comes at a time when it is seeing strength in its pharmacy business, as…
SINGAPORE (Reuters) – A private banking industry group in Singapore on Friday denied a media report that the city state had asked global banks to keep quiet on wealth inflows coming from China over the past year due to political sensitivity. The Financial Times reported earlier on Friday, citing unidentified people, that the “tacit directive”…
MUMBAI (Reuters) – India’s foreign exchange reserves jumped to $584.76 billion for the week ended April 7, the highest in nine months, the Reserve Bank of India’s (RBI) statistical supplement showed on Friday. That is an increase of $6.3 billion from the previous week. The central bank intervenes in the spot and forwards markets to…
BEIJING (Reuters) – China will take steps to stabilise employment, particularly at manufacturing and trading companies, state media reported on Friday, citing discussions at a cabinet meeting. Companies are slowly adding jobs again after shedding staff for months, as the world’s second-largest economy continues to warm up after the lifting of COVID restrictions late last…
(Reuters) – PNC Financial Services Group reported an 18.5% rise in first-quarter profit on Friday, as the Federal Reserve’s rate hikes fueled a surge in the U.S. regional lender’s net interest income (NII). Shares of PNC were up nearly 3% in premarket trading after upbeat results. They fell about 20% last quarter, which was marred…
By Howard Schneider ATLANTA (Reuters) – One more quarter-percentage-point interest rate hike can allow the Federal Reserve to end its tightening cycle with some confidence inflation will steadily return to the U.S. central bank’s 2% target, Atlanta Fed President Raphael Bostic said. Recent inflation data, including this week’s reports of slowing consumer price increases and…
By Dominique Patton BEIJING (Reuters) – China’s agriculture ministry issued a three-year action plan on Friday to reduce soymeal use in animal feed as it tries to reduce its heavy reliance on soybean imports. The new plan proposes soymeal ratios in animal feed should be reduced to less than 13% by 2025, from 14.5% in…
By Joe Cash BEIJING (Reuters) -China reiterated it is willing to work with all parties to implement the Common Framework for debt disposal on Friday but stopped short of dropping its demand that multilateral development banks share in debt restructuring losses. Beijing’s refusal to budge on this issue is a major roadblock to debt relief…
