Economy News

By Aftab Ahmed and Aditi Shah NEW DELHI (Reuters) — India is set to clear 45 investment proposals from China, which are likely to include those from Great Wall Motor and SAIC Motor Corp, government and industry sources told Reuters, as military tensions between the two countries ease at the disputed border. The proposals have…

By Khalid Abdelaziz KHARTOUM (Reuters) — Sudan’s central bank sharply devalued the currency on Sunday, announcing a new regime to «unify» official and black-market exchange rates in an effort to overcome a crippling economic crisis and access debt relief. The change is a key reform demanded by foreign donors and the International Monetary Fund (IMF),…

By Kanishka Singh (Reuters) — Mark Carney, former head of the UK and Canadian central banks, has joined the board of U.S. digital payments company Stripe Inc, days after the company was reported to be planning a primary funding round valuing it at over $100 billion. «Regulated in multiple jurisdictions and partnering with several dozen…

(Reuters) — Britain could restrict imports of European mineral water and several food products under retaliatory measures being considered by ministers over Brussels’ refusal to end its blockade on British shellfish, the Telegraph reported. Senior government sources pointed to potential restrictions on the importing of mineral water and seed potatoes, the report said.

By Alexander Cornwell DUBAI (Reuters) — State-owned Saudi Arabian Military Industries (SAMI) aims to generate annual revenue of $5 billion by 2030, its chief executive said on Monday, part of a drive to build more defence equipment inside the kingdom. Saudi Arabia, one of the world’s largest buyers of foreign arms which has been embroiled…

ROME (Reuters) — Europe will decide whether to extend the suspension of its rules limiting budget deficits and debt, known as the Stability and Growth Pact (SGP), in coming weeks, the Commissioner for Economy Paolo Gentiloni said on Monday. «In coming weeks we will decide if and how to extend the freezing of the Pact,…

(Bloomberg) — Australia’s central bank resumed purchases of three-year bonds on Monday— ending a two-month hiatus — as it seeks to defend its yield target from a selloff in global debt markets. The yield on benchmark three-year securities retreated from the highest level since early December after the Reserve Bank of Australia announced A$1 billion…

By Rami Ayyub JERUSALEM (Reuters) — The Palestinians’ COVID-19 vaccination plan faces a $30 million funding shortfall, even after factoring in support from a global vaccine scheme for poorer economies, the World Bank said in a report on Monday. Israel, a world leader in terms of vaccination speed, could perhaps consider donating surplus doses to…

By Praveen Menon WELLINGTON (Reuters) — New Zealand will use its platform as host of an Asia-Pacific trade group in coming months to seek a global approach to coronavirus vaccinations that would eliminate tariffs on goods needed to fight COVID-19. Amid concerns that smaller nations may be left behind in vaccinating their populations, New Zealand…