Factbox-How China benefits from Western sanctions on Russia’s energy exports

BEIJING/SINGAPORE (Reuters) – Chinese President Xi Jinping arrived in Russia on Monday in his first overseas trip since securing a third term as president. The visit comes just over a year after Russia launched what it calls a “special military operation” in Ukraine, triggering sanctions by the European Union on purchases of Russian seaborne crude …

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Thai economy to grow 3-4% this year, policy rate to ensure recovery – Finance Minister

BANGKOK (Reuters) – Thailand’s economy is expected to expand 3%-4% this year and monetary and fiscal policies must work together to ensure economic growth and stability, the finance minister said on Wednesday. Southeast Asia’s second-largest economy continues to be supported by the vital tourism sector while exports weaken as global demand slows, Arkhom Termpittayapaisith told …

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Argentina drought saps dollar reserves, pressuring FX crawling peg

By Walter Bianchi and Jorge Otaola BUENOS AIRES (Reuters) – Argentina’s slow-and-steady currency devaluation plan is coming under rising pressure as a historic drought pummels exports of cash crops soy and corn, draining the country’s reserves of dollars needed to prop up the embattled peso. The South American country controls its official peso-dollar exchange rate …

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Fitch upgrades Ghana’s local-currency debt rating after domestic debt exchange

By Rachel Savage and Anait Miridzhanian ACCRA (Reuters) -Ratings agency Fitch on Wednesday upgraded Ghana’s long-term local-currency issuer default rating to ‘CCC’ from ‘restricted default’, after the country started settling payments on outstanding local bonds following a domestic debt restructuring. Ghana defaulted on most of its $29 billion external debt last year, as interest payments …

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UK’s Pendragon says profit for first two months of 2023 higher than last year

(Reuters) – British automotive retailer Pendragon reported a better-than-expected annual profit on Wednesday and said profit for the first two months of 2023 was higher than last year as strong volume growth in its new and used cars offset cost pressures. The London-listed company reported an underlying profit before tax of 57.6 million pounds ($70.62 …

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China lässt erstmals mRNA-Impfstoff zu – von heimischem Hersteller

Peking (Reuters) – Jahre nach dem Rest der Welt ist nun auch in China erstmals ein mRNA-Impfstoff gegen Covid-19 zugelassen worden. Die chinesische Firma CSPC Pharmaceutical erhielt am Mittwoch von den chinesischen Gesundheitsbehörden grünes Licht für ihr Vakzin auf Basis der mRNA-Technologie. Damit ist es der erste im Inland entwickelte zugelassene Impfstoff dieser Art. Die …

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