Page 93 - Eco News Today

Egypt has deferred payments for its large wheat purchases, in some cases by months, according to a government official and traders, as the country grapples with a shortage of hard currency.

Dollar Tree Inc on Thursday trimmed its full-year profit forecast after missing quarterly profit estimates, hurt by slowing demand for discretionary items and elevated cost pressures, sending shares of the retailer down more than 14%.

The U.S. Treasury Department is at risk of defaulting on its debt if Congress doesn't act to lift the debt ceiling before it is reached, which could happen as soon as June 1. For holders of Treasury bills, notes and bonds, that raises uncertainty over whether the issues they hold will be affected, and what happens if the debt is not repaid or an interest payment is skipped.

Turkish President Tayyip Erdogan said on Thursday that Gulf states recently sent funding to Turkey, briefly helping relieve the central bank and markets, and he intends to meet and thank their leaders after Sunday's runoff presidential election.

The United Arab Emirates is increasingly pursuing bilateral trade deals outside of the Saudi-headquartered regional Gulf Cooperation Council (GCC), as competition with Riyadh intensifies for economic dominance in the oil-rich region.

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

Palo Alto Networks Inc raised its annual forecasts for revenue and adjusted profit on Tuesday as enterprise customers shift to one-stop shops for their cybersecurity needs in a bid to reduce costs.

Online fashion giant Shein is exploring plans to build a factory in Mexico, as one of its manufacturing hubs outside China, sources familiar with the matter told Reuters.

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

The U.S. dollar held near a two-month high on Wednesday on safe-haven demand as negotiations over raising the U.S. debt ceiling dragged on, while the kiwi dived 1% after New Zealand's central bank surprised markets by flagging an end to rate hikes.