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July 5, 2022

Asia

Inflation at 24-yr high adds to strains in South Korea’s economy

Reuters
A woman wearing a protective mask is seen at a fish market amid the coronavirus disease (COVID-19) outbreak continues in Seoul, South Korea April 5, 2020 REUTERS/Kim Hong-Ji Register now for FREE unlimited access to Reuters.com Register June inflation at highest since 1990s Asia financial crisis Foreign exchange reserves fall......

S.Korea to lift nuclear power share of energy mix to 30% by 2030

Reuters
SEOUL, July 5 (Reuters) – South Korea plans to increase the contribution of nuclear power in the country’s power source mix to 30% or more by 2030 from 27.4% in 2021, the industry ministry said on Tuesday. South Korea’s new president, Yoon Suk-yeol, has rejected the idea of phasing out......

Australia floods worsen as thousands more Sydney residents evacuate

Reuters
SYDNEY, July 5 (Reuters) – Torrential rains kept battering Australia’s east coast on Tuesday, intensifying the flood crisis in Sydney as thousands more residents were ordered to leave their homes after rivers swiftly rose past danger levels. About 50,000 residents in New South Wales, most in Sydney’s western suburbs, have......

U.S. drug distributors prevail in $2.5 bln West Virginia opioid case

Reuters
Tablets of the opioid-based Hydrocodone at a pharmacy in Portsmouth, Ohio, June 21, 2017. REUTERS/Bryan Woolston/File Photo Register now for FREE unlimited access to Reuters.com Register July 4 (Reuters) – Major U.S. drug distributors McKesson Corp (MCK.N), AmerisourceBergen Corp (ABC.N) and Cardinal Health Inc (CAH.N) are not responsible for fueling......

Germany’s Scholz revives 1960s-style meets with unions, bosses on inflation

Reuters
Scholz calls tackling soaring inflation “historic challenge” Kicks off meets with unions, employers to build consensus Seeks to avoid wage-price spiral, social unrest BERLIN, July 4 (Reuters) – German Chancellor Olaf Scholz met trade union and employers association leaders on Monday for the first of a series of meetings aimed......

Root and Bairstow keep England on course for record chase

Reuters
BIRMINGHAM, England, July 4 (Reuters) – Joe Root and Jonny Bairstow smashed unbeaten fifties to boost England’s hopes of pulling off a record chase in the rearranged fifth test against India at Edgbaston on Monday. Chasing 378 for victory, England got off to a flying start before the loss of......

Ukraine PM: Rich Russians should pay the bill to rebuild

Reuters
Swiss conference on Ukrainian recovery gets under way Ukrainian premier says effort may cost $750 billion Britain’s Liz Truss says Russia should be held accountable LUGANO, Switzerland, July 4 (Reuters) – The cost of rebuilding Ukraine following Russia’s invasion could reach $750 billion and rich Russians should help pay the......

Germany to overhaul law to bail out energy firms stricken by Russia woes – draft

Reuters
The logo of German energy utility company Uniper SE is pictured in the company’s headquarters in Duesseldorf, Germany, March 10, 2020. REUTERS/Thilo Schmuelgen Register now for FREE unlimited access to Reuters.com Register Government could present proposals to parliament this week Government may acquire stake in Uniper: sources Possible Uniper bailout......

Ukraine war to shift to Donetsk after fall of Luhansk; Russia claims major victory

Reuters
City was last Ukrainian stronghold in Luhansk region Russia says has “liberated” Luhansk region Zelenskiy vows to regain control with long-range weapons Blasts hit Russia’s Belgorod, southern Ukraine base -officials KYIV, July 4 (Reuters) – Russian forces in Ukraine will focus on trying to seize all of the Donetsk region,......

Tens of thousands of Sydney residents told to evacuate as rains flood suburbs

Reuters
Third major flood this year for some Sydney suburbs 30,000 New South Wales residents face evacuations Rescue of ship crew underway, military helping stranded families SYDNEY, July 4 (Reuters) – Fresh evacuation orders were issued for tens of thousands of Sydney residents on Monday after relentless rains triggered floods for......

Heavy rain to hit parts of China in wake of Typhoon Chaba

Reuters
Pedestrians wade through floodwaters on a street amid heavy rainfall as Typhoon Chaba hits Sanya in Hainan province, China July 2, 2022. cnsphoto via REUTERS Register now for FREE unlimited access to Reuters.com Register BEIJING, July 4 (Reuters) – Heavy rain is expected to hit central and southern China over......

BTS rekindle debate about military service in South Korea

Reuters
SEOUL, July 4 (Reuters) – A surprise decision by South Korean boy band BTS to take a break from live shows has rekindled debate about mandatory military service in a country setting global pop-culture trends while facing a decades old Cold War threat. Military service is hugely contentious in South......

Rebound in oil prices gives world stocks a lift in holiday trade

Reuters
A man walks under an electronic screen showing Japan’s Nikkei share price index inside a conference hall in Tokyo, Japan June 14, 2022. REUTERS/Issei Kato Register now for FREE unlimited access to Reuters.com Register Oil steady after losing $1 a barrel in early trade Nikkei rises 0.84%, Chinese stocks up......

Indonesia sovereign wealth fund, China fund sign $3 bln investment deal

Reuters
JAKARTA, July 4 (Reuters) – Indonesia’s sovereign wealth fund and China’s Silk Road Fund have signed a framework agreement under which the Chinese fund aims to invest up to 20 billion yuan ($2.99 billion) in the Southeast Asian country, they said in a joint statement. The investment scope under the......

French group Thales in partnership with EXPAL for Australia military

Reuters
The logo of Thales is seen on a company building in Brest, France, March 14, 2022. REUTERS/Stephane Mahe Register now for FREE unlimited access to Reuters.com Register PARIS, July 4 (Reuters) – French defence and technology group Thales (TCFP.PA) announced on Monday a partnership with EXPAL Systems to provide material......

EU lending arm aims to raise 100 bln euros to help rebuild Ukraine

Reuters
Seeds are seen in a grain silo destroyed after it was shelled repeatedly, amid Russia’s invasion of Ukraine, in Donetsk region, Ukraine May 31, 2022. REUTERS/Serhii Nuzhnenko/File Photo Register now for FREE unlimited access to Reuters.com Register BRUSSELS, July 4 (Reuters) – The European Investment Bank, the lending arm of......

Several eastern Chinese areas in mass COVID testing to curb new waves of infections

Reuters
A worker in a protective suit disinfects following the coronavirus disease (COVID-19) outbreak, under a surveillance camera on street in Shanghai, China July 1, 2022. REUTERS/Aly Song Register now for FREE unlimited access to Reuters.com Register SHANGHAI, July 4 (Reuters) – Parts of eastern China are running fresh rounds of......

Dollar holds firm as growth fears stalk markets

Reuters
South Korean won, Chinese yuan and Japanese yen notes are seen on U.S. $100 notes in this file photo illustration shot December 15, 2015. REUTERS/Kim Hong-Ji//Illustration Register now for FREE unlimited access to Reuters.com Register SINGAPORE, July 4 (Reuters) – The dollar kept trade-sensitive currencies pinned near multi-year lows on......

China cetral bank upgrades currency swap with HKMA, expands size to 800 billion yuan

Reuters
BEIJING, July 4 (Reuters) – China’s central bank said on Monday that it has upgraded a currency swap facility with Hong Kong to a standing swap agreement and expanded the size to 800 billion yuan ($119.40 billion) from 500 billion yuan. The agreement was signed by the People’s Bank of......

Malaysia central bank to hike rates again in July and September- Reuters Poll

Reuters
A man walks past the entrance of Central Bank of Malaysia (Bank Negara Malaysia) in Kuala Lumpur, Malaysia, July 31, 2019. REUTERS/Lim Huey Teng Register now for FREE unlimited access to Reuters.com Register All economists expect BNM to raise rates to 2.25% Decision due at 0700 GMT on Wednesday, July......

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