July, 2022

• 8 July

  Romania opens Soviet-era rail line to aid Ukraine grain sales

  

    Bloomberg Romania reopened a Soviet-era rail link connecting its Danube River port of Galati to Ukraine a month earlier than expected to help boost vital grain exports from its neighbour. Ukraine, known the breadbasket of Europe, typically exports the bulk of its grain from Black Sea ports, but they’ve been blocked by Russia’s invasion. That’s constraining sales to road, ...

  Read More »
• 8 July

  Indian rupee rises as RBI eases rules to boost foreign inflows

  

    Bloomberg India’s central bank mounted a fresh defense of the beleaguered rupee, announcing a raft of measures to boost foreign-exchange inflows, that analysts said may not immediately result in large capital flows. The steps include doubling borrowing limits for companies from overseas to $1.5 billion during a financial year, temporarily removing any interest-rate ceiling for banks to attract deposits ...

  Read More »
• 8 July

  NatWest raises pay for staff in face of inflation

  

    Bloomberg NatWest Group Plc will give more than 22,000 staff an average pay rise of around £1,000 ($1,199) from September to help them cope with the cost-of-living crisis. Staff earning less than £32,000 will get a 4% salary rise, according to an internal memo seen by Bloomberg News. NatWest said it had discussed the move with Unite and the ...

  Read More »
• 8 July

  BOJ likely to raise price forecasts

  

  Bloomberg The Bank of Japan (BOJ) is likely to consider revising its inflation and growth forecasts later this month as a weaker yen and cost-push inflation force more companies to pass on higher costs to consumers, according to people familiar with the matter. The central bank will probably raise its quarterly price projection to its target level of 2% or above ...

  Read More »
• 8 July

  Digital pounds unlikely to work like cash: BOE

  

    Bloomberg The Bank of England (BOE) is unlikely to offer a digital form of the pound that works like banknotes, opting instead for an instrument managed through some sort of account. Deputy Governor Jon Cunliffe, who is overseeing the BOE’s work on central bank digital currencies, said policy makers are thinking about how to make the pound work better ...

  Read More »
• 8 July

  Serbia lifts key rate for a fourth month

    Bloomberg Serbia lifted its benchmark interest rate for a fourth month, the highest since July 2019, following in the footsteps of peers in eastern Europe to confront persistent price pressure. The central bank in Belgrade increased the one-week repurchase rate by 25 basis points to 2.75%, a move that none of the 18 economists in a Bloomberg survey forecast. ...

  Read More »
• 8 July

  Peru’s central bank to hike rate as inflation hits 25-year high

  

    Bloomberg Peru’s central bank is expected to raise its key interest rate by half a percentage point on Thursday as the fastest inflation in 25 years fuels social tension in the Andean country. Policy makers will lift the benchmark rate to 6%, the highest since 2009, according to all economists surveyed by Bloomberg. It will be the 12th straight ...

  Read More »
• 8 July

  Stocks, US futures advance as inflation worries ease

  

    Bloomberg US stock-index futures rise as softer oil prices and a weaker dollar signalled fears about inflation and the pace of monetary tightening are fading. Futures on the S&P 500 and Nasdaq 100 indexes advanced at least 0.2% each after the underlying gauges capped the first three-day rally since May. Asian semiconductor shares rallied after Samsung Electronics Co reported ...

  Read More »
• 8 July

  Pound rallies as UK PM’s exit plan spells relief for traders

  

    Bloomberg The pound strengthened and UK stocks rise on reports that Prime Minister Boris Johnson is planning to resign. Investors said the news may spell some initial relief for UK assets, which have been battered by the country’s high inflation, weak economy and the political uncertainty. Sterling rises as much as 0.6% to $1.1994. The FTSE 250 Index, which ...

  Read More »
• 7 July

  UAE President, German Chancellor discuss ways to boost bilateral ties

  

    ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has received a phone call from Chancellor of Germany Olaf Scholz, dealing with bilateral relations and ways to enhance them as part of the strategic partnership between the two countries. President His Highness Sheikh Mohamed bin Zayed and the German Chancellor also tackled a number of ...

  Read More »