emerging-markets
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Global Central Bank Easing Cycle Grinds Along in October
Date: November 6, 2024
By Karin Strohecker and Sumanta Sen LONDON (Reuters) – The global monetary easing cycle ground along in October, with central banks across developed and emerging economies lowering interest rates ahead of the year’s biggest geopolitical event, the U.S. election. Three of the four central banks overseeing the 10 most heavily traded currencies that held meetings...
Hsbc, Barclays and StanChart Jostle for US Banking Riches, Unruffled by White House Race
Date: November 1, 2024
By Lawrence White and Sinead Cruise LONDON (Reuters) – Britain’s big global lenders HSBC, Barclays and Standard Chartered are vying to tap into a boom in U.S. commercial banking as corporate America seeks expertise for international expansion plans. At stake is a growing pool of U.S. commercial banking revenues, which reached $429 billion in 2023...
South African Reforms Could Push Rand Higher, Central Bank Chief Says
Date: October 25, 2024
By Karin Strohecker WASHINGTON (Reuters) – South Africa’s rand has further room to strengthen if the government in Pretoria pushes ahead with reforms and prudent policies, the country’s central bank chief Lesetja Kganyago told Reuters. The currency of Africa’s most industrialized nation has been a top emerging market performer, strengthening some 2.5% against the...
Factbox-Reactions to the First Expanded BRICS Summit
Date: October 24, 2024
(Reuters) – Russia this week hosted the first summit of the newly expanded BRICS club of emerging economies, with leaders agreeing a set of common projects ranging from a grain exchange to a cross-border payments system. Here is a selection of reactions from officials and analysts on the significance of the meeting: ABEBE AEMRO SELASSI,...
Factbox-The Main Takeaways From the BRICS Summit
Date: October 24, 2024
KAZAN, Russia (Reuters) – Here’s a brief summary of the outcome of the BRICS summit: * XI AND MODI: Chinese President Xi Jinping and Indian Prime Minister Narendra Modi met just two days after New Delhi announced that it had reached a deal with Beijing to resolve a four-year military stand-off on their Himalayan frontier....
L’Oreal Third Quarter Sales Disappoint as China Spends Less on Beauty
Date: October 24, 2024
By Dominique Patton PARIS (Reuters) -French cosmetics giant L’Oreal reported a rise in third quarter sales on Tuesday that missed expectations after low consumer confidence in China sapped demand for beauty products. The company, which owns the Maybelline and Lancome brands, said sales for the three months to the end of September were 10.28...