Tag: EMRG
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Turkey’s Erdogan signals economic U-turn in picking orthodox Simsek
Erdogan begins new five-year term after runoff win Unorthodox rate cuts had exacerbated cost-of-living crisis Economy under deep strain, Simsek seen reversing course ANKARA, June 3 (Reuters) – President Tayyip Erdogan signalled on Saturday his newly-elected government would return to more orthodox economic policies when he named Mehmet Simsek to his cabinet to tackle Turkey’s ... -
Mexico to fight US dispute over GM corn after formal consultations fail
MEXICO CITY, June 2 (Reuters) – Mexico said on Friday it would counter U.S. arguments over agriculture biotech measures, including plans to limit its use of genetically modified (GM) corn, in trade dispute settlement consultations requested by Washington earlier in the day. The consultation request comes as the North American neighbors inch toward a full-blown ... -
Founder of Brazil’s CVC to invest $15 million, new CEO picked
SAO PAULO, June 2 (Reuters) – Brazilian travel operator CVC (CVCB3.SA) said on Friday it has reached an agreement with its founder for a 75 million reais ($15.13 million) investment in the company, as well as electing a new chief executive officer. CVC founder Guilherme Paulus will make the investment through “an eventual and future” ... -
Nigeria’s central bank auctions FX at 645 naira, weaker than spot rate
ABUJA, June 2 (Reuters) – Nigeria’s central bank has sold the dollar at 645 naira at its latest auction, results showed on Friday, lower than 465 naira where the currency is trading on the official secondary market. Nigeria operates multiple exchange rates, which the central bank has used to manage demand, mask pressure on the ... -
Argentina doubles China currency swap access to $10 bln
BUENOS AIRES, June 2 (Reuters) – Argentina has signed a deal to renew its currency swap line with China and double the amount it can access to near $10 billion, the South American country’s central bank said in a statement on Friday, a boost to its dwindling foreign currency reserves. The bank said that the ... -
Brazil’s central bank chief opposes creation of common currency
BRASILIA, June 2 (Reuters) – Brazil’s central bank chief Roberto Campos Neto expressed his opposition on Friday to the creation of a common currency, stating that in the era of digitalization it is unnecessary to have a shared currency for its purported benefits. “That is a very old idea that solves a problem that doesn’t ... -
GM, POSCO Future M to boost investment at Canada battery materials plant
June 2 (Reuters) – General Motors Co (GM.N) and South Korea’s POSCO Future M said they will invest more to expand the production capacity at their chemical battery materials facility in Canada, taking their estimated total investment in the plant to over $1 billion. The companies said on Friday the new investment in their Ultium ... -
Oil prices rise as Congress approves US debt ceiling bill
[1/2] A tug boat pushes an oil barge through New York Harbor past the Statue of Liberty in New York City, U.S., May 24, 2022. REUTERS/Brendan McDermid BEIJING, June 2 (Reuters) – Oil prices rose on Friday amid bullish sentiment following the passage of a U.S. debt ceiling bill in Washington, while markets weighed the ... -
Asian shares rise on debt bill progress, Fed pause hopes
SINGAPORE, June 2 (Reuters) – Asian stocks surged on Friday as the progress on the bill to raise U.S. debt ceiling and increasing hopes that the Federal Reserve might stand still on interest rates in its next meeting helped perk up investor appetite for risky assets. The U.S. Senate is on track to pass a ... -
Morning Bid: Hot, cold and skipping a beat
A look at the day ahead in U.S. and global markets from Mike Dolan If the Federal Reserve does skip raising interest rates this month it’s probably because it is as confused as everyone else about the health of the U.S. economy as June kicks off. Like a patient with a virus, incoming data appears ...
