Author: Press Room
© Reuters. FILE PHOTO: A logo of Turkey’s Central Bank is pictured at the entrance of its headquarters in Ankara, Turkey October 15, 2021. REUTERS/Cagla Gurdogan/File Photo ISTANBUL (Reuters) – Turkey’s central bank raised its policy rate by a larger-than-expected 500 basis points to 40% on Thursday and said the pace of monetary tightening will slow down, with the tightening cycle to be completed in a short period of time. “The Committee assessed that the current level of monetary tightness is significantly close to the level required to establish the disinflation course,” the bank said following its monetary policy committee…
© Reuters. MUMBAI – Indian stock indices Sensex and Nifty ended Thursday’s session nearly unchanged, as gains in the auto sector were offset by underperformance in pharmaceuticals and other areas. The closed marginally lower at 66,017.81, while the NSE Nifty ended the day at 19,802. Auto stocks drove the market, with Hero MotoCorp, Bajaj Auto, and Eicher Motors leading the gains. In contrast, Cipla, Ultra Tech Cement, and SBI Life Insurance lagged behind. The broader market saw a positive finish with BSE SmallCap up by 0.44%, MidCap rising by 0.15%, and BSE 500 index increasing by 0.07%. The Indian rupee…
© Reuters. KYIV – The European Bank for Reconstruction and Development (EBRD) has signed a deal to provide Ukrainian state energy company Naftogaz with a €200 million loan aimed at preparing the country’s gas reserves for the winter season. This agreement, taking place in Kyiv today, follows an earlier €300 million loan and includes financial contributions from Norway as part of a comprehensive aid package. The latest funding from EBRD, led by President Odile Renaud-Basso and Managing Director Matteo Patrone, alongside Naftogaz CEO Oleksiy Chernyshov, is part of a sustained effort to bolster Ukraine’s energy provisions amidst ongoing conflict-related challenges.…
New Mountain Finance appoints CFO
© Reuters. Traders and voters question the potential positive impact of new Tory fiscal policies on the British pound, despite intentions for lower taxes and reduced public spending outlined by Chancellor Jeremy Hunt. The recent Autumn Statement by Chancellor Jeremy Hunt, which proposed lower taxes and reduced public spending, was designed to appeal to Conservative constituents. However, this announcement has been met with skepticism from both FX traders and a large segment of voters today. They doubt whether these plans will truly act as a positive factor for the British pound (GBP), questioning the effectiveness of the Laffer curve—a concept…
The 2022 climate law has accelerated investments in clean-energy projects across the United States. It has also delivered financial windfalls for big banks, lawyers, insurance companies and start-up financial firms by creating an expansive new market in green tax credits.The law, signed by President Biden, effectively created a financial trading marketplace that helps smaller companies gain access to funding, with Wall Street taking a cut. Analysts said it could soon facilitate as much as $80 billion a year in transactions that drive investments in technologies meant to reduce fossil fuel emissions and fight climate change.The law created a wide range…
Simon Cowell has given up working on Fridays. The talent show judge admitted he used to be a workaholic and clock in 20-hour days. Studies have shown that the four-day workweek can be beneficial. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app TV personality and multimillionaire Simon Cowell has gotten on board with the four-day workweek hype and given up working on Fridays because “it’s just pointless,” he said in an interview with British tabloid The Sun.Cowell, the mastermind behind talent shows like X Factor and…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Expectations were running high in the City in the run-up to yesterday’s Autumn Statement. It ended up being a massive anticlimax. Many hoped that chancellor Jeremy Hunt would unveil measures to jump-start the UK’s stalled equity culture and burnish London’s credentials as a world-class financial centre. Many ideas were floated, including a “Great British ISA” with a higher tax-free allowance to boost investment in UK shares; Australian-style superfunds to manage retirement savings and allocate more assets into equities; elimination of the 0.5 per…
FRANKFURT – The Bundesbank’s latest Financial Stability Review, published today, paints a picture of a stable German financial landscape amidst a milieu of high interest rates and persistent economic uncertainty. The report, which sheds light on the current state of Germany’s financial system, acknowledges that while banks have benefited from higher earnings due to increased rates, this has concurrently dampened credit demand as borrowing costs rise and loan conditions tighten. The Bundesbank has utilized significant hidden reserves to cushion against market price losses, reflecting a cautious approach in the face of potential risks that have yet to fully emerge. These…
© Reuters. FILE PHOTO: Cricket – ICC Cricket World Cup 2023 – Final – India v Australia – Narendra Modi Stadium, Ahmedabad, India – November 19, 2023 India’s Jasprit Bumrah celebrates after taking the wicket of Australia’s Steve Smith REUTERS/Andrew Boyers/File Phot BENGALURU (Reuters) – A record 518 million Indian viewers watched the recently concluded men’s cricket World Cup matches on Walt Disney-owned television channels during the 48-day event, the entertainment firm said on Thursday. Disney had bought digital and streaming rights to show the International Cricket Council’s tournaments in India from 2024 to 2027 by paying around $3 billion.…