Page 94 - Eco News Today

Climate-related disruptions to the crucial Hindu Kush-Himalayan water system are posing risks to economic development and energy security in 16 Asian countries, and concerted action is needed to protect regional water flows, researchers said on Wednesday.

Asian stocks on Wednesday extended a global sell-off as U.S. debt ceiling negotiations dragged on without resolution, while the New Zealand dollar tumbled after the central bank caught markets off-guard by flagging that its tightening cycle is over.

Taiwan will weigh both inflation and economic growth when deciding on its next interest rate decision in June but the island's economy may not rebound until the fourth quarter, central bank governor Yang Chin-long said on Wednesday.

New Zealand's central bank on Wednesday raised interest rates by 25 basis points to the highest in more than 14 years to 5.5% and reiterated inflation remains too high even as it still forecast a recession this year.

Investors pile into bets for more BoE action.

The Indian rupee, having opened slightly weaker, crawled up on Wednesday, supported by dollar inflows and recovery on the Chinese yuan, traders said.

Chinese hackers targeted Kenya's government in a widespread, years-long series of digital intrusions against key ministries and state institutions, according to three sources, cybersecurity research reports and Reuters' own analysis of technical data related to the hackings.

India's inflation has moderated, but lingering weather-related uncertainties still pose headwinds, the governor of the Reserve Bank of India said on Wednesday.

British finance minister Jeremy Hunt reiterated on Wednesday the need to stick to the government's plan to get inflation down, after official data showed an easing in price rises in April.

Africa's economic growth is set to edge upwards in 2023 and 2024 amid tighter global monetary policy and the fallout from Russia's invasion of Ukraine, but South Africa's will plummet, the African Development Bank (AfDB) said.