Page 58 - Eco News Today

Japan's top government spokesperson said on Thursday that volatile moves in the currency markets were undesirable and that authorities were closely watching the market and ready to take "appropriate" action as needed.

Hungary's government plans to review and possibly intervene into long-term power contracts agreed by companies last year when electricity prices were much higher, state news agency MTI cited Economic Development Minister Marton Nagy as saying.

The Indian rupee edged lower on Thursday as broad strength in the dollar following the U.S. Federal Reserve hinting at further rate hikes this year hurt emerging market currencies.

Manufacturers in the U.S. Northeast grew more optimistic about the near-term business outlook this month even as current conditions remained mixed across the region.

Inflation is easing but major central banks remain hawkish, with a long-awaited pause from the U.S. Federal Reserve this week coming with a warning by the world's most influential interest rate setter that the tightening cycle may not be over yet.

Hawkish central banks have sent a resounding "no" to markets betting recession would force rate cuts soon, leaving money managers scrambling for direction as the second half of the year approaches.

North Korea fired two short-range missiles off its east coast on Thursday, the South Korean military said, less than an hour after Pyongyang warned of an "inevitable" response to military drills staged earlier in the day by South Korean and U.S. troops.

Software firm Oracle on Thursday laid off hundreds of employees, rescinded job offers and cut back open positions within its health unit, the Insider reported, citing three people familiar with the matter.

Tanzania plans a 7% increase in overall government spending in the next fiscal year during which it will prioritise spending on railways, the national airline, electricity production and natural gas, Finance Minister Mwigulu Nchemba said on Thursday.

A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.