By Canan Sevgili (Reuters) -Turkey’s lira extended recent losses, weakening more than 1% against the dollar on Monday, while stocks and dollar-denominated bonds rallied after the appointment of highly-regarded Mehmet Simsek as finance minister. Simsek won markets’ confidence as finance minister and deputy prime minister between 2009-2018 and his appointment is seen signalling a return…
MOSCOW (Reuters) – OPEC+, the group of leading oil-producing countries, is important for providing stability on global energy markets, Kremlin spokesman Dmitry Peskov said on Monday, a day after the group met. OPEC+ pumps around 40% of the world’s crude and has put in place cuts of 3.66 million barrels per day, amounting to 3.6%…
ISTANBUL (Reuters) – Turkish annual inflation fell to 39.59% in May, official data showed on Monday, broadly in line with expectations, largely due to the government offsetting price rises in other goods by providing natural gas free of charge. The Turkish Statistical Institute (TUIK) said last week that it would apply a “zero price” method…
HELSINKI (Reuters) – Sweden-based Volvo Cars on Monday posted a 31% rise in sales in May compared with a year earlier, selling 60,398 cars. The 31% rise comes after a strained 2022, when the company, like other automakers, felt the effects of persistent COVID-lockdowns in China, chip shortages and other supply constraints that hampered production….
By Philip Pullella and Alvise Armellini VATICAN CITY (Reuters) -Italian Cardinal Matteo Zuppi, tasked by Pope Francis to carry out a peace mission to try to help end the war in Ukraine, headed to Kyiv on Monday for a two-day trip to sound out government authorities. The Vatican announced his visit, which many observers see…
BERLIN (Reuters) – Investors got more gloomy on prospects for the euro zone economy in June, dragged down by negative expectations for Germany, Europe’s biggest economy, a survey showed on Monday. Economic analysis company Sentix said its monthly survey on investor views on the 20-member euro zone, which gauges whether investors are positive or negative…
LONDON (Reuters) – Euro zone business activity was shored up last month by the bloc’s dominant services industry offsetting a deepening decline in the manufacturing sector, according to a survey which also showed overall price pressures had abated. HCOB’s final Composite Purchasing Managers’ Index (PMI), compiled by S&P Global and seen as a good gauge…
BERLIN (Reuters) – German engineering companies’ order books fell significantly in April, reversing the “small ray of hope” seen in the prior month’s figures, the VDMA engineering association said on Monday. April orders were 20% lower compared with the same month last year, with domestic orders down 15% and foreign orders down 23%, according to…
By Shristi Achar A and Johann M Cherian (Reuters) – Even as higher costs of borrowing continue to choke dealmaking, fund managers and bankers believe smaller UK-listed firms remain attractive to private equity players flush with unspent funds of nearly a trillion dollars. Central banks have been battling high prices by hiking borrowing costs for…
By Mrinmay Dey and Scott Murdoch (Reuters) -UBS Group AG is looking to retain more than 100 Credit Suisse Group AG investment bankers across Asia as part of a plan to shore up talent in markets where its rival has a stronger presence, a source with direct knowledge of the matter said. Switzerland’s biggest bank…
