By Jorgelina do Rosario LONDON (Reuters) -Turkey has under-delivered on rate hikes for a second month, but foreign investors are as yet unfazed and expect fresh money flows, cooling domestic credit and rising currency reserves to provide some breathing space to the battered emerging market. Policymakers hiked interest rates by 250 basis points to 17.5%…
By Chen Aizhu SINGAPORE (Reuters) – Chinese oil refiners and petrochemical companies are investing tens of billions of dollars to produce high-end chemicals for solar panels and lithium-ion batteries to profit from growing demand for energy transition technologies. The investments illustrate China’s drive to reduce its import dependence and further cement its dominance of renewable…
BEIJING (Reuters) -The concrete roof of a school gymnasium collapsed in China’s Qiqihar city on Sunday killing 11 people, many believed to be young female volleyball players, with authorities saying the illegal stacking of materials on the roof may have caused the cave in. Initially 15 people were trapped underneath the rubble and state media…
SINGAPORE (Reuters) – Singapore’s key consumer price gauge rose 4.2% in June, matching economists’ forecasts, official data showed on Monday. Inflation was lower as prices of food and energy eased, according to a joint statement by the Monetary Authority of Singapore (MAS) and the trade ministry. “Global supply chain frictions, energy and food commodity prices…
BEIJING (Reuters) – China’s central bank issued draft rules on data security management for the bank’s own operations on Monday, as Beijing tightens its grip on data usage and security amid rising geopolitical tensions and concerns about privacy. The People’s Bank of China is soliciting public opinions on the draft guidelines through Aug. 24. The…
SYDNEY (Reuters) – Australia said on Monday it would spend A$9.8 billion ($6.60 billion) to buy 20 new Super Hercules military transport aircraft, ahead of a visit later this week by U.S. Secretary of State Antony Blinken and Defense Secretary Lloyd Austin. The U.S. State Department in November approved the potential sale of the aircraft,…
By Lewis Jackson SYDNEY (Reuters) – Australia Treasurer Jim Chalmers said on Monday the country’s first budget surplus in 15 years would be even larger than first forecast. Chalmers said the budget surplus for the financial year just past was likely to be a little over A$20 billion dollars, well up from the A$4.2 billion…
SYDNEY (Reuters) – A look at the day ahead in European and global markets from Stella Qiu It’s a week that every investor has squarely on their radar: Three of the world’s biggest central banks will deliver their latest policy moves and China’s Politburo – its top policymaking body – is set to unveil support…
BANGKOK (Reuters) – Thailand’s industrial sentiment rose for the first time in three months in June, bolstered by higher domestic demand, but sluggish exports and uncertainty over the formation of a new government remained a worry, an industries group said on Monday. The Federation of Thai Industries (FTI) said its industrial sentiment index rose to…
(Reuters) -French-Italian automaker Stellantis and South Korean battery maker Samsung SDI on Monday said they plan to open a second joint-venture plant in the U.S. to build electric vehicle batteries, with a target to start production in 2027. The companies said the transaction still needs to be finalized, and where the plant will be located…
