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Archive Asia Economy

  • **FRANKFURT- Keynote speech by European Central Bank executive board member Yves Mersch on "The Continental Perspective" at Frankfurt Finance Summit 2018 organised by Frankfurt Main Finance e.V. FRANKFURT- ECB board member Sabine Lautenschlager speaks about monetary policy in Frankfurt 1530 GMT. FRANKFURT- The European Central Bank releases monthly data on...

  • ISTANBUL, May 25- Turkey won't look to push back against financial markets, Deputy Prime Minister Mehmet Simsek said on Friday, although he acknowledged investors remained concerned after the central bank was slow to react with a rate increase this week. "Turkey will solve all its issues with a rules-based, market economy and will not stand stubbornly against...

  • *U.S. tariffs, U.S. exit from Iran deal are risks. BERLIN, May 25- German business confidence held steady in May after falling for five straight months, a survey showed on Friday, suggesting company executives in Europe's biggest economy are keeping their cool despite the possibility of a global trade war. The Munich- based Ifo economic institute said its business...

  • *U.S. tariffs, U.S. exit from Iran deal are risks. BERLIN, May 25- German business confidence held steady in May after falling for five straight months, a survey showed on Friday, suggesting company executives in Europe's biggest economy are keeping their cool despite the possibility of a global trade war. The Munich- based Ifo economic institute said its business...

  • ANKARA, May 24- It took days of preparation by Turkey's top economic ministers and intervention by the prime minister to convince President Tayyip Erdogan of the need for a sharp increase in interest rates, three people familiar with the matter said. As a selloff in the lira spiraled toward a full-blown crisis on Wednesday, the central bank announced an...

  • Commerce Secretary Wilbur Ross will visit China early next month for another round of talks amid ongoing trade frictions between the world's two largest economies. Ross will visit China from June 2 to June 4, the official Xinhua news agency reported on Friday, adding that Vice Premier Liu He, China's chief negotiator in the trade dispute, had spoken with Ross...

  • Participants include Federal Reserve Bank of Atlanta President Raphael Bostic, Federal Reserve Bank of Chicago President Charles Evans, Federal Reserve Bank of Philadelphia President Patrick Harker and Federal Reserve Bank of Dallas President Robert Kaplan. STOCKHOLM- Bundesbank president Jens Weidmann speaks in Stockholm 1920 GMT.

  • Participants include Federal Reserve Bank of Atlanta President Raphael Bostic, Federal Reserve Bank of Chicago President Charles Evans, Federal Reserve Bank of Philadelphia President Patrick Harker and Federal Reserve Bank of Dallas President Robert Kaplan. STOCKHOLM- Bundesbank president Jens Weidmann speaks in Stockholm 1920 GMT.

  • MUMBAI, May 25- When the Indian government announced a surprise $32 billion bailout plan for the nation's state-controlled banks last October, credit rating firms and the nation's central bank saw it as a huge step to getting the industry back to robust health and lending more to businesses and consumers. And that may in turn crimp economic growth in Asia's...

  • ANKARA, May 24- It took days of preparation by Turkey's top economic ministers and intervention by the prime minister to convince President Tayyip Erdogan of the need for a sharp increase in interest rates, three people familiar with the matter said. As a selloff in the lira spiralled toward a full-blown crisis on Wednesday, the central bank announced an...

  • LONDON, May 24- The euro rose off a six-month low on Thursday as the dollar faltered but concerns over an economic slowdown in Europe and political risks in Italy continued to act as a brake. The euro is set to be down for a sixth consecutive week against the dollar-- the longest weekly losing streak since January 2015-- hobbled by the surging U.S. currency and worries...

  • Turkish Lira banknotes

    Turkey's central bank raised interest rates by 300 basis points on Wednesday in an emergency move to put a floor under the plunging lira currency.

  • LONDON, May 24- The euro rose off a six-month low on Thursday as China signaled its confidence in the single currency but concerns over an economic slowdown in Europe and political risks in Italy continued to act as a brake. On Thursday China's Premier Li Keqiang said China was a long-term and responsible investor in the euro and hoped the currency would be strong...

  • *Risks further harming already strained U.S.- Africa relations. That seven-page letter set Africa in the cross-hairs of the new administration's' America First' trade ideology, pitting the world's largest economy against tiny Rwanda over an unlikely U.S. export: cast-off clothes. In March, the USTR warned Rwanda it would lose some benefits under the African...

  • *Cenbank proposed higher provisions for M&A loans. MOSCOW, May 24- A central bank proposal that banks make higher provisions to cover loans for mergers and acquisitions could hurt the banking sector and the economy, German Gref, chief executive of Russia's largest bank Sberbank, told Reuters. The combined bailouts have cost the central bank over 1 trillion...

  • *Fed minutes show no haste in rate hikes. TOKYO, May 24- The dollar lost momentum on Thursday after the double-whammy of dovish-looking minutes of the Federal Reserve's last policy meeting and the threat by U.S. The euro was hampered by concerns over an economic slowdown in the currency bloc and political risks in Italy, staying near a six-month low against the...

  • SEOUL, May 24- The Bank of Korea held interest rates steady for a sixth straight month on Thursday, with inflation seen remaining below target and trade frictions between the United States and China raising fears of collateral damage to other export-reliant Asian economies. The Bank of Korea's monetary policy committee held its base rate steady at 1.5 percent,...

  • KIEV- National Bank of Ukraine holds monetary policy meeting. KIEV- The Governor of the National Bank of Ukraine Yakiv Smoliy holds a press conference 1100 GMT. TUESDAY, MAY 29 WARSAW- National Bank of Poland holds Monetary Policy Council Meeting.

  • DALLAS- Federal Reserve Bank of Richmond President Thomas Barkin gives introductory remarks before the Federal Reserve Banks of Dallas and Atlanta "Technology-Enabled Disruption: Implications for Business, Labor Markets and Monetary Policy" conference- 0000 GMT. LONDON Bank of England Governor Mark Carney gives a Welcome Address& Introductory Remarks at...

  • DALLAS- Federal Reserve Bank of Richmond President Thomas Barkin gives introductory remarks before the Federal Reserve Banks of Dallas and Atlanta "Technology-Enabled Disruption: Implications for Business, Labor Markets and Monetary Policy" conference- 0000 GMT. LONDON Bank of England Governor Mark Carney gives a Welcome Address& Introductory Remarks at...

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