Shanghai inches towards COVID lockdown exit, Beijing plays defense

Shanghai cautiously works to restore transport services Shanghai reports mostly zero new community cases this week Beijing on edge as new infections keep appearing BEIJING/SHANGHAI, May 21 (Reuters) – Shanghai cautiously pushed ahead on Saturday with plans to restore part of its transport network in a major step towards exiting a weeks-long COVID-19 lockdown, while … Read more

Global bond funds post biggest weekly outflow in over three months

A man is seen silhouetted wearing a protective face mask, amid the coronavirus disease (COVID-19) pandemic, walking near the financial district of New York City, US, October 18, 2021. REUTERS/Shannon Stapleton Register now for FREE unlimited access to Reuters.com register May 20 (Reuters) – Global investors massively cut their positions in bond and equity funds … Read more

Thousands queue for petrol, gas in Sri Lanka amid warnings of food shortages

COLOMBO, May 20 (Reuters) – Thousands of people queued for cooking gas and oil in Sri Lanka’s commercial capital on Friday and Prime Minister Ranil Wickremesinghe warned of a food shortage as the island nation battles a devastating economic crisis. Lines formed in many parts of Colombo, a city of around 900,000 people, as residents … Read more

Global markets in “unambiguous contrarian buy territory,” Bank of America says

A man wearing a protective mask, amid the coronavirus disease (COVID-19) outbreak, walks past an electronic board displaying graphs (top) of Nikkei index outside a brokerage in Tokyo, Japan, March 10, 2022. REUTERS/Kim Kyung-Hoon Register now for FREE unlimited access to Reuters.com register LONDON, May 20 (Reuters) – The trillions wiped off global markets in … Read more

Shanghai finds cases after five days of ‘zero COVID’ but end of lockdown on track

Family of three catch COVID outside Shanghai’s quarantined areas Plans to ease curbs in May and lift lockdown in June still on More and more cities in China bringing COVID under control SHANGHAI/BEIJING, May 20 (Reuters) – Shanghai announced its first new COVID-19 cases outside quarantined areas in five days on Friday, triggering stricter curbs … Read more

‘We are going to die’: Sri Lanka warns of food shortages

COLOMBO, May 20 (Reuters) – Sri Lanka’s prime minister has warned of a food shortage as the island nation battles a devastating economic crisis and vowed the government will buy enough fertilizer for the next planting season to boost productivity. A decision in April last year by President Gotabaya Rajapaksa to ban all chemical fertilizers … Read more

China’s zero-COVID policy dashes global hopes for quick economic return to normal

A worker in a protective suit walks on a closed bridge during lockdown, amid the coronavirus disease (COVID-19) outbreak, in Shanghai, China, May 18, 2022. REUTERS/Aly Song/File Photo Register now for FREE unlimited access to Reuters.com register May 19 (Reuters) – A sharp slowdown in China’s economy caused by its strict zero-COVID rules and Beijing’s … Read more

Yellen: Not legal for US to seize Russian official assets

BONN, Germany, May 18 (Reuters) – The United States does not have legal authority to seize Russian central bank assets frozen due to its invasion of Ukraine, Treasury Secretary Janet Yellen said on Wednesday, but talks with US partners over ways to make Russia foot the bill for Ukraine’s post-war reconstruction are starting. Yellen also … Read more

‘Huge’ pressure for Shanghai to stay COVID-free as lockdown end nears

Shanghai health authorities warn of risks of COVID rebound Some migrant workers looking to leave Shanghai Goldman cuts China GDP forecast, warns of further slip E-commerce giant JD.com says consumers losing confidence SHANGHAI/BEIJING, May 18 (Reuters) – Health authorities in Shanghai faced “huge” pressure to keep China’s most populous city free of COVID-19 as residents … Read more

Rouble gains dollar vs euro as possible Russia default looms

Coins of one Russian rouble and one Euro are seen next to a US one dollar banknote in this picture illustration taken April 6, 2022. REUTERS/Maxim Shemetov/Illusrtration Register now for FREE unlimited access to Reuters.com register May 18 (Reuters) – The Russian rubble pared early to gain against the dollar on Wednesday and headed back … Read more