BEIJING (BLOOMBERG) – China’s residential property slump dragged on last month as the debt crisis at China Evergrande Group spread to other developers, keeping buyers away. Home sales by value tumbled 16.9 per cent last month from a year earlier,…
Read MoreNew Zealand inflation surges to fastest pace in 10 years
WELLINGTON (BLOOMBERG)- New Zealand inflation surged to the fastest pace in 10 years in the third quarter, reinforcing bets that the central bank will keep raising interest rates. The currency rose and bond yields climbed to the highest level in…
Read MoreChina set to slash fuel exports as power crisis spurs domestic use
BEIJING (BLOOMBERG) – China, Asia’s biggest oil refiner by capacity, is set to slash fuel exports as it keeps more supplies for domestic use amid a power crisis stemming from coal shortages. Outflows of oil products such as diesel and…
Read MoreChina faces power hikes that are likely to cut metals output
BEIJING (BLOOMBERG) – China’s energy crisis is likely to mean higher electricity prices, forcing the nation’s army of metals smelters to reduce output and threatening the industrial activity that has underpinned the nation’s recovery from the pandemic. In a bid…
Read MorePlunging currency, dollar drought worsen Myanmar economic crisis
YANGON (BLOOMBERG) – Myanmar is battling a plunging local currency amid an unprecedented United States dollar shortage, driving up the cost of imports and worsening the economy’s struggle with dual challenges of the pandemic and post-coup financial isolation. The kyat…
Read MoreTravellers more frustrated with flight, border restrictions: Iata survey
SINGAPORE – Air travellers are increasingly frustrated with Covid-19 travel restrictions, with most feeling that country borders should be opened now and travel freedom must be restored. Those were the findings of a September survey of 4,700 respondents from 11…
Read MoreNew Zealand ends ultra-low interest rates, signals more hikes
WELLINGTON (REUTERS) – New Zealand’s central bank on Wednesday (Oct 6) hiked interest rates for the first time in seven years and signalled further tightening to come, as it looks to get on top of inflationary pressures and cool its…
Read MoreUPDATE 1-U.S. expected to raise debt limit, avoid default -Moody's
(Adds details from Moody’s report, debt ceiling background) Oct 5 (Reuters) – Moody’s Investors Service said on Tuesday the stable outlook on the United States’ Aaa rating reflects its view that the country would raise its debt limit and continue…
Read MoreUPDATE 1-Euro zone yields hover near three-month highs as oil prices soar
(Adds euro zone PMI data, graphic, updates prices) LONDON, Oct 5 (Reuters) – Euro zone government bond yields hovered near recent highs on Tuesday as oil prices hit a three-year peak, sparking inflation concerns and potential monetary policy tightening from…
Read MoreEuro zone bond yields hold below recent highs as sentiment stabilises
LONDON, Oct 4 (Reuters) – Borrowing costs across the euro area held below recent highs on Monday, a sign that bond markets are on more stable ground after a recent sharp sell-off triggered by concern that monetary tightening could come…
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