India bought 1 million barrels of oil from the United Arab Emirates using its own currency instead of US dollars. The Indian Oil Corp settled a payment in rupees with the Abu Dhabi National Oil Company. Nations including India, Russia,…
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In July, the volume of loans doled out from Chinese banks hit their lowest amount since 2009. The People’s Bank of China said new loans reached 345.9 billion yuan in July, less than half the amount expected by Bloomberg economists.…
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Benjamin Franklin was so busy as an inventor, publisher, scientist, diplomat and U.S. founding father that it’s easy to lose track of his accomplishments. So add one more to the roster: his early work in printing colonial paper currency designed…
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The Bank of Russia raised interest rates by 350 basis points to 12% at an emergency meeting Tuesday. It’s trying to prop up the ruble, which plummeted to a 16-month low this week. The currency strengthened in the immediate aftermath…
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China’s post-pandemic rebound hasn’t materialized and it faces mounting economic obstacles. Beijing is grappling with declining trade and foreign investment, a shaky housing market, and deflation. Experts say most of China’s issues are self-inflicted, and warn that policies must change…
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Moody’s cut the credit ratings of several small and mid-sized banks and warned it may downgrade a handful of major Wall Street lenders. The agency said late Monday that it lowered the ratings of 10 banks by one notch amid…
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KEY POINTS Biden warned in the executive order that certain American investments may contribute to “the development of sensitive technologies and products in countries that develop them to counter United States and allied capabilities.” China says the order “seriously disrupts…
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Amazon.com Inc. is in talks to join other tech companies as an anchor investor in Arm Ltd.’s initial public offering, according to a person familiar with the situation, part of preparations for a deal that could raise as much as…
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SINGAPORE – Deutsche Bank is selectively increasing headcount in divisions such as investment banking and private banking ahead of what it believes could be a rebound in those areas. This comes four years after the German bank executed a major…
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Anti-dumping tariffs and countervailing duties were imposed in mid-2020 at the height of trade tensions between China and Australia. This move will alleviate China supply concerns after Russia withdrew from the Black Sea Grain Initiative, a humanitarian pact to deliver…
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