By Fergal Smith TORONTO (Reuters) – The Canadian dollar will gain ground over the coming year as high commodity prices bolster Canada’s economic outlook and the Bank of Canada likely continues to raise interest rates aggressively, a Reuters poll showed. The loonie is the only G10 currency to keep pace with the U.S. dollar, a…
(Reuters) -Russia is replacing Citibank, which has stopping servicing the country’s Eurobonds, with its own National Settlement Depository, the finance ministry said on Thursday, as it risks its first major external debt default in over a century. Sanctions imposed by Western countries and their allies on Russia after it started what it calls a “special…
LONDON (Reuters) – The euro and the yen rose on Thursday, reversing some recent losses against the U.S. dollar, while the Swiss franc hit a one-month high against the euro after Swiss inflation soared to its highest in 14-years. In Asian trade, the dollar had risen to a three-week high versus the Japanese yen after…
By Brenda Goh SHANGHAI (Reuters) -Amazon.com said that from Thursday it will stop supplying retailers in China with its Kindle e-readers and will shut its Kindle e-bookstore in the country next year, the in latest pullback by a U.S. tech firm from the restrictive Chinese market. Amazon announced the decision on its official WeChat account…
LONDON (Reuters) -OPEC+ is working on making up for a drop in Russian oil output, two OPEC+ sources said on Thursday, as Russia’s production has fallen by around 1 million barrels per day as a result of Western sanctions on Moscow over Ukraine. One OPEC+ source familiar with the Russian position said Moscow could agree…
TAIPEI (Reuters) – Semiconductor-powerhouse Taiwan will on Thursday hold high-level trade talks with the European Union, a source familiar with the matter told Reuters, amid a concerted push by the bloc to boost its chip industry. In February, the EU unveiled a European Chips Act, with the bloc mentioning Taiwan, home to the world’s largest…
By Praveen Menon and Clara Denina SYDNEY/LONDON (Reuters) – Glencore is likely to reject a $3.60 a share offer by coal producer Yancoal Australia Ltd’s Chinese parent to buy its minority stake in the miner as too low, two sources with knowledge of the matter said. Yankuang Energy Group made an offer last week to…
By Harish Sridharan (Reuters) – Bearish bets on Asian currencies reduced on signs that China’s economic pain may abate with easing of COVID-19 curbs, but analysts were still wary of future lockdowns and the direction of U.S. monetary policy, a Reuters poll showed on Thursday. Short positions on South Korea’s won and the Taiwanese dollar…
By Arsh Tushar Mogre and Prerana Bhat BENGALURU (Reuters) – The Reserve Bank of India will concentrate interest rate hikes over the coming months in a relatively short tightening cycle, according to a Reuters poll of economists who expect the repo rate to reach its terminal level early next year. Following a surprise rate rise…
By Engen Tham and Winni Zhou SHANGHAI (Reuters) – Banks in China are urging regulators to relax rigid documentation rules as companies there have not been able to fulfill them due to COVID-19 lockdowns, forcing the lenders to halt services such as loan disbursements, sources said. In China, contracts and transactions are legally recognised only…
