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By Reuters Staff 2 Min Read FILE PHOTO: Central Bank of Egypt's headquarters is seen amid the coronavirus disease (COVID-19) pandemic in downtown Cairo, Egypt February 25, 2021. REUTERS/Mohamed Abd El Ghany CAIRO (Reuters) - Egypt’s current account deficit widened to $4.8 billion in October-December from $3.2 billion in the same period in 2019, according to central bank figures released on Monday. Remittances from Egyptian workers abroad rose to $7.49 billion in October-December from $6.96 billion a year earlier, while tourism revenues plunged to $987 million from $3.1 billion, Reuters calculations based on the central bank figures showed. Egypt’s economy slowed significantly due to the impact of the coronavirus pandemic, though unlike many other countries it remained in growth.
By Reuters Staff (Repeats to additional clients with no change to text) April 15 (Reuters) - Treasury Secretary Janet Yellen’s first foreign exchange report due this week could see several U.S. trading partners labeled as currency manipulators. The designation is based on three broad criteria here A $20 billion-plus trade surplus with the United States, a current account surplus exceeding 2% of GDP and currency intervention exceeding 2% of gross domestic product. The criteria led the Trump administration to label Switzerland and Vietnam as currency manipulators in December. Whether Yellen takes as aggressive an approach as her predecessor in scolding trading partners is unclear.
By Reuters Staff 1/ ECB DAY FILE PHOTO: European Central Bank (ECB) headquarters building is seen in Frankfurt, Germany, March 7, 2018. REUTERS/Ralph Orlowski/File Photo The European Central Bank meets on Thursday and will likely be pressed on signs of divisions over the future pace of bond purchases, which have been stepped up recently to prevent a rise in borrowing costs from derailing the recovery. Dutch central bank head Klaas Knot believes the acceleration is temporary, while ECB chief Christine Lagarde says the economy is still standing on “crutches” and stimulus cannot be withdrawn. The euro area is still grappling with lockdowns and a third wave of COVID-19 but business activity appears to be holding up. The April flash purchasing managers index on Friday should provide fresh clues on the outlook. Signs of a swift recovery could raise questions over when the ECB will slow its bond buying, putting recent bond market calm to the test.
3 Min Read LONDON (Reuters) -Royal Dutch Shell said on Thursday the majority of its oil and gas reserves will be produced by 2050, playing down the risk of stranded assets as it prepares to reduce its greenhouse gas emissions in the coming decades. Slideshow ( 2 images ) The disclosure is a rare admission by a major oil and gas company that some of its reserves may be worthless in a world shifting to renewable energy from fossil fuels in an effort to stem global warming. The Anglo-Dutch company said in a document to investors summarising its climate strategy that around 75% of its proved oil and gas reserves will be produced by 2030, with an additional 3% produced after 2040.
4 Min Read ISTANBUL (Reuters) - Turkey’s central bank held rates steady at 19% as expected on Thursday and dropped a pledge to tighten policy further if needed, in its first decision since President Tayyip Erdogan fired the hawkish former governor and sparked a market selloff. FILE PHOTO: Turkey's Central Bank headquarters is seen in Ankara, Turkey in this January 24, 2014 file photo. REUTERS/Umit Bektas In a statement, the bank also ditched last month’s pledge to “decisively” maintain a tight monetary policy “for an extended period” to address inflation, which has risen above 16% and been in double-digits for most of the last four years.
The Russian central bank said on Monday that the current pattern of inflation pressure confirms it was right to raise interest rates last month and pave the way for a return to a neutral monetary policy.
By Reuters Staff 2 Min Read FILE PHOTO: Central Bank of Egypt's headquarters is seen amid the coronavirus disease (COVID-19) pandemic in downtown Cairo, Egypt February 25, 2021. REUTERS/Mohamed Abd El Ghany CAIRO (Reuters) - Egypt’s current account deficit widened to $4.8 billion in October-December from $3.2 billion in the same period in 2019, according to central bank figures released on Monday. Remittances from Egyptian workers abroad rose to $7.49 billion in October-December from $6.96 billion a year earlier, while tourism revenues plunged to $987 million from $3.1 billion, Reuters calculations based on the central bank figures showed. Egypt’s economy slowed significantly due to the impact of the coronavirus pandemic, though unlike many other countries it remained in growth.
* March exports seen at +11.74% y/y, vs Feb’s +8.56% * March imports seen at +6% y/y, vs Feb’s +14.86% * March trade surplus of $1.64 billion f’cast, vs Feb’s $2 bln * Trade data due at 0400 GMT on Thursday, April 15 JAKARTA, April 13 (Reuters) - Indonesia’s trade surplus is expected to narrow in March, as imports rose before the Muslim fasting month, even as exports continued to benefit from higher commodity prices, a Reuters poll showed on Tuesday. The median forecast of 14 economists in the poll was for Southeast Asia’s biggest economy to record a $1.64 billion trade surplus in March, down from February’s $2.01 billion.
Sri Lanka's government bonds jumped to their highest level since September on Monday, on reports that the government had sealed a long-awaited $500 million loan deal with the China Development Bank.
Kenya's central bank has room to cut its benchmark interest rate, its governor said on Tuesday, adding that other interventions were also needed to help economic recovery in the face of a coronavirus-induced slump.