LONDON (Reuters) -British supermarket group Sainsbury’s said on Wednesday it would raise pay for its 127,000 hourly paid workers to at least 11 pounds ($13.24) an hour from February as it looks to attract and retain staff in a tight labour market. Britain’s second largest grocer after Tesco, and one of the country’s biggest private …
By Camillus Eboh ABUJA (Reuters) – Nigeria will keep its costly but popular petrol subsidy until mid-2023 and has set aside 3.36 trillion naira ($7.5 bln) to spend on it, Finance Minister Zainab Ahmed said on Wednesday. Africa’s biggest economy spent 2.91 trillion naira ($7 billion) towards a petrol subsidy between January and September 2022, …
Nigeria to spend $7.5 billion on petrol subsidy to mid-2023 Read More »
SHANGHAI (Reuters) – People’s Bank of China (PBOC) said on Wednesday that a high amount of foreign currency it has bought recently was a result of commercial banks converting their foreign exchange holdings with the central bank into yuan reserves. China’s central bank bought a net 63.6 billion yuan ($9.24 billion) worth of foreign exchange …
NAIROBI (Reuters) – The Kenyan central bank’s Monetary Policy Committee will hold its next rate-setting meeting on Jan. 30, the bank said on Wednesday. At its last meeting in November, the bank raised its benchmark lending rate by half a point to 8.75%. (Reporting by George Obulutsa)
HONG KONG (Reuters) – Hong Kong’s government said on Wednesday that Japan had relaxed six-day-old COVID restrictions that had limited flights from the financial hub to only a handful of destinations in Japan. Planes from Hong Kong would be able to land at all airports in Japan, not just four as under the curbs, the …
Hong Kong says Japan relaxes COVID flight restrictions Read More »
BEIJING (Reuters) -China’s central bank said on Wednesday it will use various policy tools to keep liquidity reasonably ample in 2023 to support the economy, while fending off financial risks. The People’s Bank of China will step up financing support to spur domestic consumption and key investment projects and support a stable real estate market, …
China central bank says it will keep liquidity reasonably ample in 2023 Read More »
(This Jan. 3 story has been corrected to fix the period of the reduced production forecast from midyear to March 2022, in the fourth paragraph) By Paul Lienert and Akash Sriram (Reuters) – Electric vehicle maker Rivian Automotive barely missed its full-year production target of 25,000 vehicles in 2022, the company said in a filing …
Rivian stock less bruised than Tesla as both miss EV targets Read More »
By Sarita Chaganti Singh NEW DELHI (Reuters) -India has approved an incentive plan of 174.9 billion rupees ($2.11 billion) to promote green hydrogen in a bid to cut emissions and become a major exporter in the field, the information minister said on Wednesday. The move is targeted to help India, one of the world’s biggest …
India OKs $2 billion incentive plan for green hydrogen industry Read More »
BENGALURU (Reuters) -Mahindra and Mahindra Financial Services said on Wednesday the Reserve Bank of India lifted curbs placed on the company last year that prevented it from using third-party services for loan recovery. The RBI’s decision follows the company’s pledge to strengthen its recovery practices, outsourcing arrangements and the process of onboarding third-party agents, the …
RBI lifts curbs on Mahindra unit’s use of third party for loan recovery Read More »
PARIS (Reuters) – Two climate activists spray-painted the front entrance of the French prime minister’s office on Wednesday in protest at what campaign group Derniere Renovation (Last Renovation) called “climate crimes” committed by the state. Video of the protest action seen by Reuters showed police arresting the two activists, who wore T-shirts with the slogan …
Climate activists spray-paint entrance to French PM’s office Read More »
