By Naveen Thukral SINGAPORE (Reuters) – A surge in wheat and corn prices is boosting demand for low-grade rice in animal rations across Asia, pushing up prices of the world’s most important staple at a time when global food inflation is already hovering near record highs. Global crop importers are scrambling for supplies after Russia’s…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – Days before Thanksgiving, Kris Sidial, a co-founder at volatility arbitrage fund The Ambrus Group, told investors the firm was betting that extreme price moves in some volatility-tracking exchange traded notes were likely to get worse. The firm bought deep out-of-the-money call options on the iPath Series B…
BEIJING (Reuters) -China’s new home prices stalled in February after eking out a small gain a month earlier, official data on Wednesday showed, pointing to still fragile demand despite a gradual easing in property curbs by authorities to boost buying sentiment. Average new home prices in China’s 70 major cities were flat at 0.00% month-on-month,…
By Nidhi Verma and Rajendra Jadhav NEW DELHI (Reuters) – India is boosting fertiliser imports from nations including Canada and Israel to ensure sufficient supplies for the coming summer sowing season after the disruption of shipments caused by Russia’s invasion of Ukraine. India is a leading importer of fertilisers for its huge agriculture sector, which…
By Marc Jones LONDON (Reuters) – The economic cost of Russia’s assault on Ukraine was fully exposed on Wednesday as Vladimir Putin’s sanctions-ravaged government teetered on the brink of its first international debt default since the Bolshevik revolution. Moscow was due to pay $117 million in interest on two dollar-denominated sovereign bonds it had sold…
By Tetsushi Kajimoto TOKYO (Reuters) -Japan’s top firms are set to offer pay rises of around 2% or more as annual labour talks wrap up on Wednesday, a boost from last year’s razor-thin increase that is still unlikely to kick-start demand in the moribund economy. Prime Minister Fumio Kishida has piled pressure on profitable firms…
By Kevin Buckland TOKYO (Reuters) – The dollar traded near a five-year high against the yen on Wednesday as investors awaited a Federal Reserve policy decision, with the Ukraine war and China’s surging COVID-19 cases as the backdrop. Treasury yields surged ahead of the Federal Open Market Committee decision, buoying the dollar against its Japanese…
BEIJING (Reuters) – Oil prices rose early on Wednesday, bouncing back after earlier falling more than $1 a barrel, as Russia’s invasion of Ukraine continues to dominate volatile trading with ceasefire talks the latest market trigger. Brent futures were up 83 cents, or 0.8%, at $100.74 a barrel at 0120 GMT. U.S. West Texas Intermediate…
SHANGHAI (Reuters) – Chinese electric vehicle (EV) maker BYD Co Ltd late on Tuesday said it would raise prices on its cars by 3,000-6,000 yuan ($471-942), citing the rising cost of raw materials. The price increases will take effect from Wednesday, it said, adding that customers who had paid deposits on vehicles prior to then…
By Pratima Desai LONDON (Reuters) – Nickel trading on the London Metal Exchange (LME) resumes on Wednesday with limits on price movements to prevent disorderly trading after wild swings triggered a rare market shutdown. China’s Tsingshan Holding Group bought large amounts of nickel to reverse bets on lower prices, propelling the metal up more than…
