Currencies

Russian Sibur doubles LPG loadings from Ust-Luga, resumes supply to India

MOSCOW -Sibur, Russia's largest producer and exporter of liquefied petroleum gas , has doubled LPG loadings through the Baltic port of Ust-Luga in January-May 2025 compared to the same period in 2024...

Fed policymakers meet as new data raises growth concerns, geopolitical risks rise

WASHINGTON -Federal Reserve officials met on Tuesday armed with new economic data that could give more weight to their concerns that Trump administration policies, or at least the intense uncertainty...

Philippine central bank to cut key rate on June 19 to support economic growth

BENGALURU -The Philippine central bank is expected to cut its key interest rate again on Thursday as slowing inflation allows it room to support the domestic economy amid weaker growth, a Reuters...

South African rand subdued on risk-off mood, economic data eyed

JOHANNESBURG -The South African rand was down marginally on Tuesday, despite fragile risk sentiment driven by the Israel-Iran conflict, and ahead of key domestic economic data on Wednesday. ...

Asian bonds draw biggest foreign inflows in nearly a decade in May

Foreign investments in Asian bonds hit a near-10 year high in May, driven by a weaker dollar, concerns over U.S. fiscal risks, and expectations of rate cuts in regional economies. ...

Ghana has lost $11 billion to gold smuggling, links to UAE, report finds

DAKAR -Ghana is losing billions of dollars in revenue annually to smuggling from its booming artisanal gold mining sector with much of the gold flowing to the United Arab Emirates, according to a...

Kenyan shilling flat versus dollar, LSEG data shows

NAIROBI -The Kenyan shilling held steady against the dollar on Monday, data from London Stock Exchange Group showed. At 0740 GMT, commercial banks quoted the shilling at 129.00/129.50,...

Fed to release 2025 bank stress test results on June 27

WASHINGTON -The Federal Reserve announced on Friday that it would publish the 2025 results of its annual big bank stress tests on June 27. The U.S. central bank conducts the test each...

India central bank steps in to contain fallout of oil price jump on rupee, traders say

The Reserve Bank of India is believed to have sold dollars to support the rupee after a surge in oil prices, triggered by Israeli strikes on Iran, put pressure on the currency, three traders told...

The dollar's crown is slipping, and fast

LONDON -The dollar has sunk to its lowest in three years as rapidly changing U.S. trade policy unsettles markets and expectations build for Federal Reserve rate cuts, fuelling outflows from the...

US producer prices rebound less than expected in May

WASHINGTON -U.S. producer prices increased less than expected in May, restrained by lower costs for services like air fares. The producer price index for final demand rebounded 0.1%...

Sterling drops to six-week low against euro

Sterling rose against the U.S. dollar on Thursday but dropped to a six-week low against the euro, following weak economic data from the U.S. and the UK.  The euro hit its highest level...

DAX Investors Duck for Cover as Defense Stocks Gain Favor

DAX investors continue to retreat from the stock market. The German benchmark index opened Thursday down 0.8 percent at 23,758 points. The trade dispute between Washington and Beijing is still...

Top Wall Street bank pitches options play to ride potential Indian rupee rally to 83

MUMBAI -Goldman Sachs' sales and trading desk is recommending an options play on the Indian rupee that will pay off if the South Asian currency rallies to 83 per U.S. dollar over the next nine...

South African rand slips after local mining data disappoints

JOHANNESBURG -The South African rand slipped on Thursday, after the release of weaker-than-expected local mining output figures. At 1544 GMT the rand traded at 17.7850 against the...

US consumer prices rise moderately; tariffs expected to fan inflation

WASHINGTON -U.S. consumer prices increased less than expected in May as cheaper gasoline partially offset higher rents, but inflation is expected to accelerate in the coming months on the back of the...

Fed seen on track to start cutting rates by September

Cooler-than-expected U.S. inflation last month deepened conviction in financial markets on Wednesday that the Federal Reserve will start cutting interest rates by September and deliver a second...

AerCap can recover over $1 billion, UK court rules in case over jets 'lost' in Russia

LONDON -The world's largest aircraft lessor AerCap can recover over $1 billion in relation to jets stuck in Russia since the invasion of Ukraine, London's High Court ruled on Wednesday, though that...

South African rand unmoved as budget law passes

JOHANNESBURG -The South African rand was little changed on Wednesday after the parliament passed budget legislation that sets the overall limits for government spending and lays out key...