Japan’s wholesale prices rise at fastest pace in 13 years on commodities surge
Japan’s wholesale prices rose at their fastest annual pace in 13 years reflecting higher commodity costs, data showed on Thursday, a sign global inflationary pressures are pinching firms already struggling amid the coronavirus pandemic.
Russia’s high inflation shifts expectations for bigger rate hike on Friday
Russia’s unexpectedly high inflation in May prompted a wide-scale revision of forecasts, shifting market expectations towards a bigger 50 basis-point interest rate increase on Friday, a Reuters poll suggested on Wednesday.
Regus owner’s shares slide as COVID-19 curbs, variants slow recovery
Office space provider IWG (IWG.L) warned on Monday that its 2021 core earnings will be well below last year’s crisis-hit level as continuing curbs in some markets and new COVID-19 variants derail recovery, sending its shares as much as 16% lower.
Long bets on yuan near six-month high; ringgit bears firm
Bullish bets on the Chinese yuan hit a near six-month high after a rally against the U.S. dollar, a Reuters poll showed on Thursday, while investors were long on most Asian currencies as nations ramped up their COVID-19 vaccination plans.
Saudi Aramco beats quarterly profit forecast, maintains dividend
State-run oil producer Saudi Aramco (2222.SE) beat analysts’ forecasts on Tuesday with a 30% rise in first-quarter net profit and maintained its dividend payout, helped by strong oil prices. Earnings by global energy companies such as Exxon Mobil (XOM.N) have climbed on the back of rising crude prices, which are up by about a third this year, as fuel […]
Foreign currency corporate borrowing: Risks and policy responses
Emerging market economies increasingly rely on foreign currency debt, leaving borrowing firms exposed to sudden stops and currency depreciations. This column examines the dynamics of corporate foreign currency borrowing in India using new firm-level data. It finds that interest rate differentials are a strong predictor of foreign currency debt issuance, particularly after the Global Crisis. After the ‘taper tantrum’ of 2013, the Reserve Bank of India introduced new macroprudential policies that were effective at mitigating the riskiest borrowing and reducing the vulnerability of Indian firms.
Moderna boosting COVID-19 vaccine capacity, targets up to 3 billion shots in 2022
Moderna Inc (MRNA.O) said on Thursday it is boosting manufacturing capacity for its COVID-19 vaccine and expects to make up to 3 billion doses in 2022, more than twice its previous forecast. It also said it is increasing its expectations for 2021 vaccine production to between 800 million and 1 billion shots, raising the bottom of its range from […]
