WASHINGTON (Reuters) – India’s move to restrict exports of certain types of rice could help exacerbate food price inflation and should be reversed, International Monetary Fund chief economist Pierre-Olivier Gourinchas said on Tuesday. Gourinchas told a news conference that India’s restriction would have a similar effect of the suspension of the Ukraine Black Sea grain…
By John Revill (Reuters) -Logitech International raised its sales and profit outlook for the first half of the financial year 2024 on Tuesday, sending its stock sharply higher. The maker of computer keyboards, mice and webcams saw its stock trading nearly 8% higher in Switzerland after its first quarter results beat forecasts. Sales in the…
By Clare Jim and Karin Strohecker HONG KONG (Reuters) -Investors piled into Chinese property developers’ shares and bonds on Tuesday following a sharp sell-off in the previous session, after policymakers said they would step up support for the embattled sector. Hong Kong’s Hang Seng Mainland Properties Index jumped 14%, while the CSI 300 Real Estate…
SAO PAULO (Reuters) -Consumer prices in Brazil fell by more than expected in the month to mid-July, data from statistics agency IBGE showed on Tuesday, potentially opening the way for a more aggressive interest rate cut when central bank policymakers meet next week. The soft data, with 12-month inflation below this year’s official target, may…
WASHINGTON (Reuters) -The U.S. military said a Russian fighter jet hit a U.S. drone with a flare and “severely” damaged its propeller over Syria, the latest in a series of closer interactions by Russian military aircraft in the region. Over the past several months, U.S. officials say, Russian jets have increased the pace of dangerous…
By Marc Jones LONDON (Reuters) -Morgan Stanley cut Israel sovereign credit to a “dislike stance” on Tuesday after the country’s parliament passed the first in a series of laws sought by Prime Minister Benjamin Netanyahu to limit the power of the Supreme Court “We see increased uncertainty about the economic outlook in the coming months…
By Hari Kishan BENGALURU (Reuters) – Most central banks will cut interest rates in the first half of next year, even though the majority don’t expect their inflation targets to be met by then, according to economists polled by Reuters. Reuters’ polls of over 500 forecasters globally over the past month found 2024 inflation views…
By Crispian Balmer (Reuters) – Venice presented a powerful line-up on Tuesday for its forthcoming film festival, defying fears its 80th edition would be a washout because of strikes by Hollywood actors and writers. Although many stars will miss the traditional red carpet openings for big studio productions, Venice artistic director Alberto Barbera still managed…
By Anna-Catherine Brigida and Eliana Raszewski BUENOS AIRES (Reuters) – As Argentina’s inflation rate soared past 100% and the value of the currency slid, IT worker Luis, 33, found an economic lifeline: renting out his apartment on Airbnb for coveted dollars and finding a way to hide his earnings from the tax authorities. Luis’s apartment…
(Reuters) – Goldman Sachs cut its 2023 growth forecast for the euro zone, following weaker economic activity data. Economists led by Sven Jari Stehn said on Tuesday they now expect a 0.4% growth for the region in 2023. (Reporting by Reshma Rockie George in Bengaluru; Editing by Krishna Chandra Eluri)
