IMF warns geopolitical fragmentation could raise financial stability risks

By David Lawder WASHINGTON (Reuters) – Rising geopolitical tensions and the resulting fragmentation of the global economy could increase financial stability risks, reducing cross-border investments, asset prices, payment systems and banks’ ability to lend, the International Monetary Fund said on Wednesday. The IMF has long warned of increased costs, economic friction and GDP output losses …

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India in diplomatic effort to protect drug exports after Gambia, Uzbekistan deaths

By Krishna N. Das NEW DELHI (Reuters) – Indian officials are in contact with foreign authorities and have held meetings in Africa to ensure its drug exports do not suffer, the government said on Wednesday, after Indian-made cough syrups were linked to deaths in Gambia and Uzbekistan. India’s drug industry is one of the biggest …

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Generals, tycoon and political neophyte among PM candidates as Thailand heads into election

By Chayut Setboonsarng and Panarat Thepgumpanat BANGKOK (Reuters) – Two generals involved in coups, a pro-cannabis health minister and a businesswoman whose father and aunt fled into exile after being forced from power could be Thailand’s next premiers, as political parties finalise their picks for the top job. Thailand holds an election on May 14 …

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China sends carrier group off Taiwan coast ahead of US meeting

TAIPEI (Reuters) – Taiwan’s defence ministry said on Wednesday a Chinese aircraft carrier group was in the waters off the island’s southeast coast, the same day President Tsai Ing-wen was due to meet U.S. House Speaker Kevin McCarthy in Los Angeles. China, which claims democratically-governed Taiwan as its own territory, has warned of unspecified retaliation …

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WTO sees “subpar” 2023 trade growth with multiple risks

GENEVA (Reuters) – The World Trade Organization raised its forecast for global trade growth this year, but still predicted a slowdown and warned of risks from the Ukraine war, geopolitical tensions, food insecurity, inflation and monetary policy tightening. The Geneva-based trade body said on Wednesday that merchandise trade volumes would increase by a “subpar” 1.7% …

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