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Cautious ECB opts for summer rate pause
Cautious ECB opts for summer rate pause
by  AFP

The European Central Bank held borrowing costs steady Thursday, giving policymakers more time to assess progress on inflation after last month's first interest rate cut in five years. Progress on inflation led the ECB to lower borrowing costs for the first time since 2019 in June, bringing some relief to households and businesses.

India's Infosys beats profit estimates as client spending rises
India's Infosys beats profit estimates as client spending rises
by  AFP

Indian IT giant Infosys raised its annual revenue guidance Thursday after reporting a 7.1 percent on-year rise in net profit for the June quarter, signalling a gradual revival in client spending. The company earned $761.3 million (63.68 billion rupees) in net profit for the quarter, beating expert estimates, while on-year revenue was up 3.6 percent to $4.7 billion.

China's leaders vow to fight 'risks' plaguing economy
China's leaders vow to fight 'risks' plaguing economy
by  AFP

China's leadership vowed Thursday to resolve "risks" plaguing the economy, state media said, but were yet to offer any concrete steps to pull the country out of its financial woes. With the country facing those headwinds, this week's meeting resolved to "strengthen guidance of public opinion and effectively prevent and resolve ideological risks", according to state media.

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