International News

Bloomberg Federal Reserve Chair Janet Yellen spelled out what she means by data dependence, asserting her leadership of the U.S. central bank with a clear message that interest rates will be raised at a cautious pace. In one of her most detailed policy discussions this year, Yellen gave investors a list of conditions they need to watch for future rate ...

Bloomberg Bond investors in Venezuela have made a dispiriting discovery. Last week, traders started quoting prices on a $3 billion note issued by the nation’s state-owned oil company. While the eight-year securities were first sold in October 2014 under New York law, according to data compiled by Bloomberg, not much else is known. The bonds don’t trade on any U.S. ...

Bloomberg Brazil’s real led losses among its most-traded peers as the central bank stepped in to weaken the currency, extending a program announced this month after three years of trying to support the real. The real fell 0.3 percent to 3.6388 per dollar on Tuesday in Sao Paulo, the only drop among 16 major currencies, after earlier falling as much ...

Bloomberg Renewable energy developers won contracts to produce 1,720 megawatts of power in Mexico during the country’s first-ever private auction, after the government ended a decades-long state electricity monopoly in 2013. Seven wind and solar companies including Enel Green Power, SunPower Systems Mexico and Recurrent Energy won 15-year contracts to rights to provide the state-owned Comision Federal de Electricidad with ...

Bloomberg Illinois farmer David Erickson admits that what he and many U.S. farmers are about to do doesn’t seem to make much sense. With bulging stockpiles of corn and soybeans left over from last year’s harvest, they’re planting more in 2016 — even though the crops probably won’t be profitable. “It’s hard to get your head around the idea of ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and in his capacity as Ruler of Abu Dhabi, has issued an Emiri Decree on reshuffling the Supreme Petroleum Council under his chairmanship. The decree also named the following as members: His Highness Sheikh Mohamed bin Zayed Al Nahyan as Vice President, HH Sheikh Hazza bin Zayed ...

TOKYO / Bloomberg The best way to boost the economy is to quickly implement the existing budget for the next fiscal year, Prime Minister Shinzo Abe said on Tuesday, rejecting speculation he would announce a supplementary spending package. Speaking after the parliament passed a record 96.7 trillion yen ($850 billion) in outlays for the 12 months starting April 1, Abe ...

Manila / AFP Two Chinese men were responsible for moving $81 million stolen by hackers from Bangladesh’s foreign reserves into Philippine casinos, an inquiry in Manila heard on Tuesday. Following the heist, the millions stolen from the Bangladesh central bank’s American accounts on February 5 were immediately sent via electronic transfer to a Philippine bank. The dollar accounts where the ...

Dhaka / DPA Exports of raw jute from Bangladesh will reopen next week as the government on Monday lifted the ban on shipments four months after imposing it. The Ministry of Textiles and Jute issued a notice announcing the withdrawal of the ban to be effective from April 3. The lifting of the ban came amid pleas from raw jute ...

NEW DELHI / Reuters India’s Supreme Court has asked the markets regulator to start the process of selling some of embattled conglomerate Sahara’s real estate assets in the country to refund millions of investors in its illegal bonds, lawyers said on Tuesday. Sahara, a household name in India as the former main sponsor of the national cricket team, has major ...