Economic Regions BRICS

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  • HONG KONG, Feb 24- Political tensions in Hong Kong are hurting the economy said the city's financial secretary in his annual budget speech on Wednesday, as he rolled out a multi-billion dollar package of sweeteners to bolster growth hit by a slowdown in China. In unusually blunt comments for a budget address, John Tsang said "political volatility" was threatening...

  • Heavy interventions by the central bank in recent months to steady the currency and deter speculators have raised questions about China's foreign exchange policy and threatened to slow Beijing's steady push to internationalise the "redback". One key factor is the attractiveness of arbitrage activities that allow firms to benefit from differences in...

  • TOKYO, Feb 23- Chinese tourists spent less in Tokyo shops during the Lunar New Year holidays compared with a year earlier, retailers said, as a stronger yen and slower economic growth at home discouraged the kind of "explosive buying" that became a buzzword in 2015.. Isetan Mitsukoshi Holdings said its stores served around 50 percent more international duty-free...

  • WASHINGTON, Feb 22- The United States will call on G20 countries this week to use fiscal policy in order to boost global demand, a senior U.S. Treasury Secretary Jack Lew, and central bank governors will meet on Feb. 26-27, with sagging global growth, divergent monetary policies and currency devaluations set to dominate the agenda. Lew has repeatedly called on China...

  • WASHINGTON, Feb 22- The United States will call on G20 countries to use all monetary and fiscal tools at their disposal in order to boost global demand, a senior U.S. That would lead to strengthened confidence and I would suspect reduce volatility, "the Treasury official said in a preview call with reporters ahead of a G20 meeting later this week in Shanghai, China.

  • SHANGHAI, Feb 22- China stocks jumped over 2 percent on Monday to a four-week high, led by property and resources shares, as investors welcomed Beijing's decision to replace the top securities regulator and on signs the government was stepping up its economic stimulus efforts.

  • SHANGHAI, Feb 22- China's yuan barely budged against the dollar on Monday as the central bank kept holding the line via a steady midpoint fixing. G20 finance ministers and central bank governors are due to meet on Feb. 26 and 27 to discuss issues including China's excess capacity, oil prices and global growth. While such briefings are common for hosts of G20...

  • SYDNEY, Feb 22- Asian share markets got off to a cautious start on Monday as investors await a rush of February industry surveys to take the pulse of the global economy, while sterling suffered on concerns the UK might yet vote to leave the European Union. MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1 percent, having rebounded more than 4...

  • HONG KONG, Feb 19- Off the coast of a nearly deserted island below the southern tip of Hong Kong, at least 10 massive ships that normally carry hundreds of thousands of tons of coal or iron ore lie idle near one of the world's busiest sea routes. We have been hit by a perfect storm- huge order books, China slowdown, the end of quantitative easing, lurking European monetary...

  • SHANGHAI, Feb 20- China has removed the head of its securities regulator following a turbulent period in the country's stock markets, appointing a top state banking executive as his replacement, as leaders move to restore confidence in the economy. The announcement on the official Xinhua news agency on Saturday follows a string of assurances from senior...

  • MOSCOW, Feb 19- The Russian government is considering a 5 percent cut in defence procurement spending this year, sources say, showing not even Vladimir Putin's plan to restore Moscow's military might is immune to the pain of a slowing economy. The president has made beefing up the military a national priority, and the fact it is up for discussion is a sign that no...

  • BEIJING, Feb 19- China's central bank has reversed preferential reserve requirement ratio cuts for banks that had failed to support certain sectors of the economy as a condition of the more accommodative monetary policy. The People's Bank of China said in a statement on its website it had examined banks' implementations of targeted RRR cuts announced last...

  • MOSCOW, Feb 19- Russia's government is considering cutting spending on defense procurement this year by 5 percent, four official sources told Reuters, a move that would extend the budget squeeze to a sector that up to now has been immune from real cuts. Cutting defense spending is symbolically important because President Vladimir Putin has made restoring...

  • SHANGHAI, Feb 19- China's yuan inched down against the dollar on Friday after the central bank fixed a slightly softer midpoint, but looked set for a solid weekly gain. On Friday, the People's Bank of China set the midpoint rate at 6.5186 per dollar prior to market open, only 0.05 percent weaker than the previous fix of 6.5152. China's foreign exchange market was...

  • BEIJING, Feb 18- China will better coordinate its fiscal and monetary policies to help counter a slowdown in the economy, Liu Kun, a vice finance minister, said in remarks published on Thursday. A rout in Chinese stocks last summer and the unexpected devaluation of the yuan in August have rattled global markets, raising concerns about the health of the world's...

  • TOKYO, Feb 18- The Group of 20 major economies must take coordinated policy action as needed to mitigate the negative impact of volatile financial markets on the global economy, Bank of Japan Governor Haruhiko Kuroda said on Thursday. "The United States, China, the euro zone and Japan... must take coordinated action as needed," Kuroda told an upper house financial...

  • *Energy shares in China, HK jump on higher oil prices. China stocks were also firmer, with investor optimism sustained by Beijing's fresh moves to support the economy, and expectations that more stimulus is in the pipeline. In China, the blue-chip CSI300 index rose 0.5 percent, to 3,077.25 points by lunch break, while the Shanghai Composite Index gained 0.4 percent,...

  • SHANGHAI, Feb 18- China's consumer inflation quickened in January due to rising food prices while producer prices declined for 47th straight month, as falling commodity prices and weak demand add to deflationary pressure in the world's second-largest economy. "Overall, China will likely face strong deflationary pressure in the remainder of the year,"...

  • LOUIS- Federal Reserve Bank of St. Louis President James Bullard gives presentation on the U.S. economy and monetary policy before the Fed Forecast Dinner hosted by the CFA Society of St. Louis- 0030 GMT. European Central Bank President Mario Draghi to attend. FRANKFURT- European Central Bank to publish the minutes of January policy meeting- 1230 GMT.

  • *China's economic fundamentals unchanged- state planner. The string of assurances comes ahead of two high-profile political events for China: a meeting of G20 finance chiefs in Shanghai later this month and next month's annual gathering of China's legislature- where the next five-year economic development plan will be finalised. "China's economic...