DAMASCUS (Reuters) – Syria weakened its official exchange rate to 4,522 Syrian pounds to the dollar, a central bank statement said on Monday, while black market rates used for most economic activity sat around 6,500. The official rate was previously set at 3,015. An economic crisis in the country has been triggered by years of …
By Nandan Mandayam BENGALURU (Reuters) -India’s top automakers in December reported a double-digit rise in the sale of the more expensive utility vehicles, while entry-level cars saw muted demand despite discounts. Auto sales numbers are keenly watched as they are among the key indicators for assessing private consumption, which has more than 50% weightage in …
India’s utility vehicles sales rise in Dec, demand for entry-level cars muted Read More »
BENGALURU (Reuters) -Indian shares closed higher on Monday, the first trading session of 2023, helped by an uptick in metals and financials. The Nifty 50 index closed 0.51% higher at 18,197.45, while the S&P BSE Sensex rose 0.54% to 61,167.79. Most of the major sectoral indexes logged gains, with metals and high-weightage financials rising 2.43% …
Indian shares close first 2023 session on a positive note on metals boost Read More »
ISLAMABAD (Reuters) – Pakistan’s consumer price index rose 24.5% in December, year-on-year, the statistics bureau said on Monday. Prices were up 0.5% in December from the previous month, the bureau said in a press release. In November, the CPI rise was 23.8%, year-on-year. (Reporting by Charlotte Greenfield and Shivam Patel; Editing by Andrew Heavens)
(Reuters) -The United States has dropped Burkina Faso from its AGOA trade preference program citing deep concerns over “unconstitutional change” in government in the West African country, the U.S. Trade Representative’s (USTR) office said on Sunday. Frustrations over the government’s inability to curb an Islamist insurgency spurred two military coups in Burkina Faso in 2022. …
U.S. cuts off Burkina Faso from Africa duty-free trade program Read More »
By Neil Jerome Morales and Adrian Portugal MANILA (Reuters) -The Philippines’ main gateway scrambled to resume full services on Monday after a New Year power outage jolted its air traffic control and disrupted 300 flights, prompting calls from business leaders and a top senator for urgent action. A failure of primary and secondary power supplies …
Philippines airport scrambles to restore normalcy after power cut Read More »
MUMBAI (Reuters) – India’s IIFL Finance plans to raise at least 1 billion rupees ($12.10 million) through public issue of non-convertible debentures, according to a product note. The issue, which also has a greenshoe option to retain an oversubscription of 9 billion rupees, will open for subscription on Friday and close on Jan. 18. The …
MUMBAI (Reuters) – Edelweiss Financial Services plans to raise at least 2 billion rupees ($24.19 million) through the public issue of non-convertible debentures, according to a term sheet. The company’s public issue will open for subscription on Tuesday and will close on Jan. 23. The issue also has a greenshoe option to retain an additional …
Edelweiss Financial Services to raise funds via public issue Read More »
MUMBAI (Reuters) – India’s Canara Bank plans to raise funds through the sale of certificates of deposit maturing in three months, three merchant bankers said on Monday. The state-run lender will offer a yield of 6.92% on the issue, for which it has received commitments worth 10 billion rupees ($121.03 million) so far, the bankers …
LONDON (Reuters) – The downturn in euro zone manufacturing activity has likely passed its trough as supply chains begin to recover and inflationary pressures ease, a survey showed on Monday, leading to a rebound in optimism among factory managers. S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) bounced to 47.8 in December from November’s 47.1, …
Darkest days likely over for euro zone factories, Dec PMIs show Read More »
