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July 1, 2022

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Doctors, bankers protest ‘impossible situation’ as Sri Lanka runs out of fuel

Reuters
Doctors, bankers, teachers march to demand solution for crisis Struggle for fuel delays health workers in getting to work Ministers look for help from Russia COLOMBO, June 29 (Reuters) – Doctors and bankers were among hundreds of Sri Lankans who marched on Wednesday to demand the government resolve a severe......

Sri Lanka stops fuel supply to non-essential services as crisis worsens

Reuters
Fuel stocks set to run out in days without curbs Supplies only to essentials from Tuesday untl July 10 Regulator hopes to keep power cuts at 3-4 hrs/daily for 2 months COLOMBO, June 27 (Reuters) – Sri Lanka will shut schools and only allow fuel supplies to services deemed essential......

Hungary’s MOL cuts refuelling limit for passenger cars

Reuters
BUDAPEST, June 24 (Reuters) – Hungarian energy group MOL (MOLB.BU) said it was limiting passenger car drivers to buying 50 litres of fuel a day at its service stations from Friday, halving the previous limit, in a move to avert disruptions caused by a government price cap. MOL, which owns......

Turkey unveils latest salvo against soaring inflation

Reuters
A man looks at a butcher shop window in Ankara, Turkey February 16, 2022. REUTERS/Cagla Gurdogan Register now for FREE unlimited access to Reuters.com Register Treasury to launch bonds indexed to state enterprise revenues Central bank, banking watchdog also announce steps Inflation has surged to 73%, lira down 23% this......

Russia eyes gas-for-roubles template for foreign Eurobond payments

Reuters
Investors would open Russian FX and rouble accounts One investor doubts that scheme would avert default event May 30 (Reuters) – Russia is considering settling pressing Eurobond obligations by applying the mechanism being used to process payments for its gas in roubles, the Kremlin and the finance minister said, as......

Analysis: Turkey’s recurring currency nightmare strikes again

Reuters
A money changer holds Turkish lira banknotes at a currency exchange office in Ankara, Turkey October 12, 2021. REUTERS/Cagla Gurdogan/File Photo Register now for FREE unlimited access to Reuters.com Register Latest lira slump triggers new worries in Turkey Inflation pressures rising again Key test ahead for emergency measures brought in......

Nepal expects 5.8% growth as COVID-19 cases fall – minister

Reuters
KATHMANDU, May 29 (Reuters) – Nepal’s economy is expected to expand by 5.8% in the current financial year ending mid-July, helped by a pick-up in economic activity following a fall in COVID-19 cases, the finance minister said on Sunday. The growth estimates were higher than 4.3% year-on-year growth in the......

Ousted Pakistani PM Khan issues ultimatum after disbanding violent protest march

Reuters
ISLAMABAD, May 26 (Reuters) – Pakistan’s ousted prime minister Imran Khan disbanded a protest march by supporters on Thursday after clashes with police outside parliament, but threatened that they would return unless an election was called within six days. Khan had rallied thousands of supporters to Islamabad, with plans to......

Philippines’ Marcos signals continuity ahead with new economic team

Reuters
Philippine president-elect Ferdinand “Bongbong” Marcos Jr., son of late dictator Ferdinand Marcos, attends a news conference at his headquarters in Mandaluyong City, Metro Manila, Philippines, May 23, 2022. REUTERS/Lisa Marie David Register now for FREE unlimited access to Reuters.com Register Monetary board member Medalla to head c.bank C.bank chief Diokno......

Turkey’s lira falls beyond 16.4 vs dollar as FX need grows

Reuters
A money changer counts Turkish lira banknotes at a currency exchange office in Ankara, Turkey September 27, 2021. REUTERS/Cagla Gurdogan/ Register now for FREE unlimited access to Reuters.com Register ANKARA, May 25 (Reuters) – Turkey’s lira slid beyond 16.4 against the dollar on Wednesday to its weakest level since the......

Russia makes early debt payment dash to dodge default

Reuters
The skyscrapers of the Moscow International Business Centre, also known as “Moskva-City”, are seen just after sunset in Moscow, Russia July 12, 2018. Picture taken July 12, 2018. REUTERS/Christian Hartmann Register now for FREE unlimited access to Reuters.com Register Moscow was due to pay $100 mln on two Eurobonds on......

Sri Lanka names new PM in bid to address growing crisis

Reuters
Ranil Wickremesinghe, leader of the United National Party speaks to his supporters during a campaign rally on the last day for rallies, ahead of country’s parliamentary election scheduled for August 5, 2020, in Galle, Sri Lanka, August 2, 2020. REUTERS/Indunil Usgoda Arachchi Register now for FREE unlimited access to Reuters.com......

China’s factory inflation defies global surge, leaving room for stimulus

Reuters
A man pays for meat at a market in Beijing, China January 11, 2021. REUTERS/Tingshu Wang Register now for FREE unlimited access to Reuters.com Register Producer inflation at slowest pace in a year Consumer inflation perks up but remains contained – analysts BEIJING, May 11 (Reuters) – China’s factory-gate inflation......

Exclusive: Setting up a national coal reserve is no longer a priority for Germany

Reuters
An aerial view shows coal at a dry bulk terminal of German Rheinberg-Orsoy harbor along Europe’s most important shipping way Rhine in Rheinberg near Duisburg, Germany, April 6, 2022. Picture taken with a drone. REUTERS/Stephane Nitschke/Files Register now for FREE unlimited access to Reuters.com Register Officials, industry concerned plan could......

Curfew imposed across Sri Lanka after clashes in commercial capital

Reuters
COLOMBO, May 9 (Reuters) – Supporters of Sri Lanka’s ruling party stormed a major protest site in the country’s commercial capital Colombo on Monday, attacking anti-government demonstrators and clashing with police who used tear gas and water cannon to drive them back. A curfew has been imposed across the island......

Dollar hits two-decade high amid rising US rates, Ukraine war, China’s lockdowns

Reuters
U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken, February 8, 2021. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register Dollar index rises to almost 20yr peak AUD, NZD slide as Asia’s stockmarkets tumble U.S. CPI data is next upside......

Thousands of Sri Lankans rally over government handling of crisis

Reuters
FILE PHOTO – A worker stands in front of a closed essential food store during a nationwide strike demanding the resignation of President Gotabaya Rajapaksa and his cabinet, amid the country’s economic crisis, in Colombo, Sri Lanka, April 28, 2022. REUTERS/Dinuka Liyanawatte Register now for FREE unlimited access to Reuters.com......

Saudi, Pakistan to discuss possible support for kingdom’s $3 billion deposit

Reuters
Saudi Crown Prince Mohammed bin Salman meets Pakistan’s Prime Minister Shehbaz Sharif upon his arrival in Jeddah, Saudi Arabia, April 29, 2022. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERS Register now for FREE unlimited access to Reuters.com Register May 1 (Reuters) – Saudi Arabia and Pakistan will discuss the......

Oil extends gains on Russia gas tension, China stimulus hopes

Reuters
Workers walk as oil pumps are seen in the background in the Uzen oil and gas field in the Mangistau Region of Kazakhstan November 13, 2021. REUTERS/Pavel Mikheyev Register now for FREE unlimited access to Reuters.com Register Russia cuts gas supplies to Bulgaria and Poland on Wednesday IMF warns of......

HSBC puts 2022 buyback ambitions on ice as inflation accelerates

Reuters
Quarterly pretax profit $4.2 bln vs estimates of $3.7 bln More confident of double-digit return on key target – CFO Books $600 mln credit charge vs reserves release last year More buybacks unlikely given worsening economic outlook Shares fall 3.6% to lowest since mid-March SINGAPORE/LONDON, April 26 (Reuters) – HSBC......

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