By Jesús Aguado MADRID (Reuters) -Spanish lenders may feel the impact from rising global risks, such as the higher cost of funding and liquidity stress, though their cash positions remained stable in March, Bank of Spain officials said on Wednesday. In its semi-annual financial stability report, the central bank warned global uncertainty could lead to…
DUBLIN (Reuters) – Global airline capacity will be lower than expected this year and stay constrained until 2025 at the earliest, warned IATA director general Willie Walsh, due to delays in new aircraft deliveries and a lack of availability of spare parts. “I can’t see anything really improving or significantly improving probably until 2025 at…
By Asif Shahzad ISLAMABAD (Reuters) – Pakistan’s current account recorded a surplus in March, the highest in two years, the country’s central bank and market analysts said, following stringent import restrictions to manage the South Asian economy’s turmoil. Islamabad is trying to get an IMF bailout back on track and both sides have been engaged…
By Junko Fujita TOKYO (Reuters) -Japan’s Sumitomo Mitsui Financial Group (SMFG) sold $1 billion of additional tier-1 (AT1) debt on Wednesday, becoming the first major global bank to sell the risky securities since similar bonds issued by Credit Suisse were wiped out last month. The deal reflects rebounding confidence in the banking sector of Asia’s…
By Liz Hampton and Arunima Kumar (Reuters) -Oilfield firm Baker Hughes Co beat first-quarter profit estimates on Wednesday, as stronger oil prices supported demand for its equipment and services. Global oil futures are currently trading around $83.12 a barrel, down about 22% from a year ago but still well above a level where firms can…
(Reuters) -Citigroup raised its 2023 global economic growth forecast to 2.4%, citing “solid” performance in the United States, euro area and China, and also pushed out its expectation for a U.S. recession to the fourth quarter of the year. Citi economists had earlier pegged global growth at 2.2% for the year and expected the onset…
DUBLIN (Reuters) -Growth in services across the euro zone is still accelerating but the steady improvement in business and consumer sentiment may have stalled, European Central Bank chief economist Philip Lane said on Wednesday, calling recent developments mixed. The ECB has raised interest rates at its past six meetings and said that unless the economy…
By Soyoung Kim, Ju-min Park and Hyonhee Shin SEOUL (Reuters) – South Korea might extend its support for Ukraine beyond humanitarian and economic aid if it comes under a large-scale civilian attack, President Yoon Suk Yeol said, signalling a shift in his stance against arming Ukraine for the first time. In an interview with Reuters…
By Christian Akorlie ACCRA (Reuters) -Ghana’s economy grew 3.1% year-on-year in 2022, compared with a growth rate of 5.1% the previous year, the country’s statistics agency said on Wednesday. The West African country’s gross domestic product grew 3.7% year-on-year in the fourth quarter, compared with 2.9% in the previous quarter – its worst performance since…
By Andy Bruce and David Milliken LONDON (Reuters) – Britain was the only country in western Europe with double-digit inflation in March after it fell less than expected, official data showed on Wednesday, bolstering bets that the Bank of England will raise interest rates again in May. Consumer price inflation (CPI) dropped to an annual…
