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World Bank slashes China growth forecasts
The World Bank on Tuesday slashed its China growth forecast for the year as the pandemic and weaknesses in the property sector hit the world's second largest economy. "Economic activity in China continues to track the ups and downs of the pandemic -- outbreaks and growth slowdowns have been followed by uneven recoveries," the World Bank said in a press release.
Japan central bank tweaks monetary policy, yen strengthens
Japan's central bank tweaked its longstanding monetary easing programme on Tuesday, in a surprise move that saw the yen strengthen quickly against the dollar while Tokyo stock markets fell. The move saw the yen strengthen rapidly against the dollar, with the greenback falling from a daily high of 137 yen to 133 within minutes of the decision.
Asian markets mostly down on worries over rate hikes, inflation
Most markets fell in Asia on Tuesday following a sell-off in New York as traders fret that central bank efforts to tame inflation will tip economies into recession. Adding to the selling pressure were comments from former New York Fed chief William Dudley, who told Bloomberg Television that any sign of optimism in markets could make monetary policymakers tighten even more.
EU reaches gas price cap agreement, angering Russia
EU energy ministers on Monday overcame months of wrangling to agree a price cap for natural gas in the bloc, drawing an immediate warning from Russia that the move was "unacceptable".
Honeywell to pay $160 mn to settle US, Brazil bribe case
US industrial giant Honeywell will pay $160 million to settle criminal and civil probes in Brazil and the United States over bribes in order to win business from two national oil companies, the government said Monday.
EU reaches gas price cap agreement at 180 euros/MWh
EU energy ministers on Monday overcame months of wrangling to agree a price cap for natural gas in the bloc of 180 euros per megawatt hour, effective from mid-February. Europe's benchmark price for natural gas delivered via pipeline was trading at just under 112 euros per megawatt hour on Monday.
Tesco faces UK lawsuit over forced labour in Thailand
Tesco is facing a UK lawsuit brought by Burmese migrants in Thailand, who claim that one of the supermarket giant's former clothing suppliers used their forced labour, lawyers said on Monday.
FTX chief Bankman-Fried could accept extradition from Bahamas
Cryptocurrency tycoon Samuel Bankman-Fried could accept extradition to the United States to face charges over the multi-billion dollar collapse of his FTX group when he appears in court Monday in the Bahamas, according to US and local media. He was charged in the United States with eight counts including conspiracy, wire fraud, money laundering and election finance violations.
German gas giant's shareholders to vote on nationalisation
Shareholders of troubled German gas giant Uniper were to vote Monday on the company's nationalisation after it was pushed to the brink of collapse following Russia's invasion of Ukraine. On Monday, the German government and Uniper, Germany's biggest gas importer, concluded a framework agreement related to the rescue package.
AFP
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