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Visa revenue growth slows more

Visa revenue growth slows more

-- 2023-01-27 13:05:18

Visa's revenue growth continued to wind back to pre-pandemic levels in the first quarter as the post-lockdown travel craze ebbed and consumer spending slowed in a tough economy. The world's largest p...

Pakistani rupee's fall slows as hopes rise for IMF money

Pakistani rupee's fall slows as hopes rise for IMF money

FE ONLINE DESK 2023-01-27 13:03:39

The Pakistani rupee showed signs of steadying on Friday after steep decline over the previous two days, with hopes raised by an International Monetary Fund team visiting Islamabad in coming days...

Asian equities hit 9-month high as recession fears wane

Asian equities hit 9-month high as recession fears wane

FE ONLINE DESK 2023-01-27 12:50:14

Asian stocks rose on Friday and were poised for their fifth straight week of gains after data highlighted a resilient US economy, boosting investor sentiment ahead of next week's slate of centra...

India's Adani kicks off record $2.45b share sale

India's Adani kicks off record $2.45b share sale

-- 2023-01-27 10:38:33

India's Adani Enterprises Ltd began a record $2.45 billion secondary share sale for retail investors on Friday, days after the Adani conglomerate - controlled by one of the world's richest men - was a...

Pakistan seeks US help in unlocking $1.1b IMF loan

Pakistan seeks US help in unlocking $1.1b IMF loan

-- 2023-01-26 17:29:32

Pakistan has sought support from Washington to unlock a stalled International Monetary Fund programme that would release $1.1 billion to its strained economy as the country rebuilds after last year's...

IBM cuts 3,900 jobs, misses annual cash target

IBM cuts 3,900 jobs, misses annual cash target

-- 2023-01-26 10:13:16

IBM Corp on Wednesday announced 3,900 layoffs as part of some asset divestments and missed its annual cash target, dampening cheer around beating revenue expectations in the fourth quarter, repor...

South Korea vows support for exporters as economy shrinks

South Korea vows support for exporters as economy shrinks

-- 2023-01-26 10:04:12

South Korea's government promised strong support for exporters after the country posted on Thursday its first economic contraction in 2/1-2 years, due mainly to a crash in exports, and faced a possibi...

Rupee edges higher on soft dollar, traders eye inflows

Rupee edges higher on soft dollar, traders eye inflows

-- 2023-01-25 16:02:43

The Indian rupee strengthened against the US currency on Wednesday, as the dollar remained muted and Treasury yields declined. The rupee was trading at 81.5350 per dollar by 10:13 am IST, compared wi...

Asia shares trading mixed, China markets closed for holidays

Asia shares trading mixed, China markets closed for holidays

FE ONLINE DESK 2023-01-25 11:37:53

Asian shares were mixed Wednesday after Wall Street indexes finished little changed as investors awaited earnings results from major global companies. Shares rose in Tokyo and Seoul, but fell in Sydn...

Chinese loan commitment to emerging economies hit 13-year low

Chinese loan commitment to emerging economies hit 13-year low

-- 2023-01-24 19:52:51

Loans committed by China's two main trade policy banks fell to a 13-year low of $3.7 billion in 2021 due to Beijing curtailing funding for large-scale oil projects, a study from Boston University Glob...

China offers Sri Lanka debt moratorium, IMF help still in doubt

China offers Sri Lanka debt moratorium, IMF help still in doubt

-- 2023-01-24 18:50:50

The Export-Import Bank of China has offered Sri Lanka a two-year moratorium on its debt and said it will support the country's efforts to secure a $2.9 billion loan from the International Monetary Fun...

Sri Lanka hopeful of completing debt restructuring in six months

Sri Lanka hopeful of completing debt restructuring in six months

-- 2023-01-24 13:44:50

Sri Lanka is committed to meeting all its debt repayments and is hoping to complete debt restructuring negotiations in the next six months, the country's central bank chief P. Nandalal Weerasinghe sai...

Davos 2023: Key takeaways from the World Economic Forum

Davos 2023: Key takeaways from the World Economic Forum

REUTERS 2023-01-21 19:19:20

Global leaders and business executives departed a freezing World Economic Forum (WEF) meeting on Friday after a frank exchange of views over how the world will tackle its biggest issues in 2023. Here...

Food inflation high in BD, South Asia: WB

Food inflation high in BD, South Asia: WB

FE REPORT 2023-01-21 08:52:06

Food inflation remains high in Bangladesh along with many other countries in South Asia, making healthy food less affordable across the region, according to the World Bank (WB). "The high incidence o...

India says it is committed to boosting investment in crisis-hit Sri Lanka

India says it is committed to boosting investment in crisis-hit Sri Lanka

FE ONLINE DESK 2023-01-20 14:52:32

India has told Sri Lanka it is committed to boosting investment in its debt-ridden neighbour, to help pull it from its worst economic crisis in seven decades, Foreign Minister Subrahmanyam Jaish...

Sri Lanka expects financing assurances from China for IMF deal within days

Sri Lanka expects financing assurances from China for IMF deal within days

FE ONLINE DESK 2023-01-20 14:43:32

Sri Lanka expects to get China's backing for its debt restructuring plan within days to help unlock a $2.9 billion loan from the International Monetary Fun...

UK inflation edges down to 10.5pc in December, food prices surge

UK inflation edges down to 10.5pc in December, food prices surge

-- 2023-01-18 17:09:51

British inflation eased last month after hitting a 41-year high in October, offering some comfort to the Bank of England, but the pressure on households remained intense as food and drink prices rose...

1.0pc people own more than 40pc of India’s wealth: Oxfam

1.0pc people own more than 40pc of India’s wealth: Oxfam

-- 2023-01-17 19:46:58

India's top 1 per cent owned more than 40.5 per cent of its total wealth in 2021, according to a new report by Oxfam. In 2022, the number of billionaires in the country increased to 166 from 102 in 2...

China’s economic growth falls to 3.0pc, gradually reviving

China’s economic growth falls to 3.0pc, gradually reviving

-- 2023-01-17 17:07:33

China's economic growth fell to its second-lowest level in at least four decades last year under pressure from anti-virus controls and a real estate slump, but activity is reviving after restrictions...

Russia's falling oil revenues could create vicious circle for budget, rouble

Russia's falling oil revenues could create vicious circle for budget, rouble

FE ONLINE DESK 2023-01-17 15:28:56

Russia's attempts to plug its budget deficit by selling foreign currency reserves could lead to a vicious circle that pushes the rouble higher and further reduces the Kremlin's crucial export re...

India writes to IMF backing Sri Lanka's debt restructuring plan

India writes to IMF backing Sri Lanka's debt restructuring plan

REUTERS 2023-01-17 15:10:20

India has told the International Monetary Fund (IMF) it will support Sri Lanka's debt restructuring plan, a source with direct knowledge of the matter said, as the island nation races to secure a $2.9...

Sri Lanka to cut recurrent budget expenditure by 6pc in 2023

Sri Lanka to cut recurrent budget expenditure by 6pc in 2023

FE ONLINE DESK 2023-01-17 12:35:54

Sri Lanka's cabinet said on Tuesday that it will cut its recurrent budget expenditure by 6 per cent in 2023 as the country battles its worst financial crisis in seven decades and is seeking sup...

China's 2022 economic growth one of the worst on record, post-pandemic policy faces test

China's 2022 economic growth one of the worst on record, post-pandemic policy faces test

Reuters 2023-01-17 09:51:04

China's economic growth in 2022 slumped to one of its worst in nearly half a century as the fourth quarter was hit hard by stringent COVID curbs and a property market slump, raising pressure on policy...

EU's record recovery fund at risk as countries struggle to meet deadline

EU's record recovery fund at risk as countries struggle to meet deadline

-- 2023-01-16 15:50:38

The risk that European Union governments will not be able to spend the largest aid package in its history is growing as members struggle to meet deadlines imposed by the bloc, officials from four coun...

US securities regulator lists April for climate rule action

US securities regulator lists April for climate rule action

-- 2023-01-15 10:27:04

The top US securities regulator has cited April as the release date for a long-anticipated rule on companies' climate-related disclosures, according to a recent federal notice, reports Reuters. In...

Rate rises could add $8.6t to global borrowing costs: S&P

Rate rises could add $8.6t to global borrowing costs: S&P

-- 2023-01-13 20:21:22

Central bank rate rises could land global borrowers with $8.6 trillion in extra debt servicing costs in coming years, S&P Global estimated on Friday, warning of a slowdown in economic activity as...

Pakistan’s forex reserves fall by $1.23 billion

Pakistan’s forex reserves fall by $1.23 billion

-- 2023-01-13 19:21:14

The State Bank of Pakistan (SBP) announced that its foreign exchange reserves had decreased by 1.23 billion US dollars. During the week ending on Jan. 6, the total foreign exchange reserves of the Pa...

‘US labour markets, consumer demand remains strong despite increase in interest rates’

‘US labour markets, consumer demand remains strong despite increase in interest rates’

-- 2023-01-13 17:53:56

International Monetary Fund Managing Director Kristalina Georgieva said on Thursday that there is mounting evidence that the United States can avoid recession this year and achieve a “soft landi...

Argentina's inflation rate at 95pc, highest since 1991

Argentina's inflation rate at 95pc, highest since 1991

-- 2023-01-13 12:19:54

Argentina's annual inflation hit its highest rate in more than 30 years last month as prices almost doubled versus a year ago, official data released on Thursday showed, further eroding consumers' dwi...

Indonesian businessman fined over $370m for stock manipulation

Indonesian businessman fined over $370m for stock manipulation

FE ONLINE DESK 2023-01-13 10:52:34

An Indonesian corruption court on Thursday found businessman Benny Tjokrosaputro guilty in a stock manipulation case involving state insurance firm Asabri and fined him 5.7 trillion rupiah ($371...