Government

Resistance to Greek drama hints at euro's strength

As the big global banks and investment houses see it, almost every outcome of Greece's stand-off with its creditors leads to a weaker euro. So why isn't the single currency falling?

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BOJ says factory output likely hit soft patch in April-June

The Bank of Japan said it expects factory output to fall for the first time in three quarters in April-June on weak Asian demand, underscoring the fragile nature of the economic recovery.

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German business leaders warn Merkel not to go soft on Greece

German business leaders urged Chancellor Angela Merkel to take a tough line with Greece at an emergency summit of euro zone leaders later on Monday, saying only reform concessions from Athens could keep the country in the euro zone.

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Greek shares up 6.8 percent on hopes of deal

Greek shares .ATG rose 6.8 percent in morning trade on Monday on hopes that Greece was closer to reaching a deal with its international lenders.

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Greek drama nears final act, ending uncertain

Euro zone leaders will attend an emergency summit on Monday, hoping to thrash out a plan with Athens to provide Greece with additional funds to prevent it defaulting on its debt -- but only if both sides play ball.

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Food price surge puts India's Rajan on the back foot

Prices of many foodstuffs are surging in India, despite a good start to monsoon rains - an unexpected boon for wholesalers, but a major headache for the central bank and a government hoping for its help to reboot the economy.

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India proposes gold-linked bonds to lower bullion imports

India is planning to issue sovereign bonds linked to the bullion price in an effort to divert some of the estimated 300 tonnes of annual demand for gold bars and coins, and reduce bullion imports that can push up the trade deficit.

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BOJ's Kuroda backpedals on yen warning, says weakness not so harmful

Bank of Japan Governor Haruhiko Kuroda said the yen's current weakness was not inflicting severe pain on the economy, toning down an earlier warning to markets against pushing the currency too far down.

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U.S. to press China on currency, eye on AIIB: official

U.S. officials will press their Chinese counterparts on currency policy at high-level talks next week, and have not taken off the table the possibility that the United States may one day join a China-led infrastructure bank, a senior U.S. Treasury official said.

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Euro zone sets emergency summit on Greece as money flees

Euro zone leaders will hold an emergency summit on Monday to try to avert a Greek default after bank withdrawals accelerated and government revenue slumped as Athens and its international creditors remain deadlocked over a debt deal.

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Fed says U.S. economy strong enough to handle rate hike

The U.S. economy is growing moderately after a winter swoon and likely strong enough to support an interest rate increase by the end of the year, but concerns remain over the recovery of the labor market, U.S. Federal Reserve officials said on Wednesday.

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Greek central bank issues 'Grexit' warning if aid talks fail

The Greek central bank warned on Wednesday that the country would be put on a "painful course" towards default and exiting the euro zone if the government and its international creditors failed to reach an agreement on an aid-for-reforms deal.

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Japan export slowdown could weigh on second-quarter GDP growth

Japan's export growth slowed for a second straight month in May, with weak external demand now threatening to erode economic growth in the current quarter.

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Fed on track for September rate hike as economy picks up: Reuters poll

The U.S. Federal Reserve is on track to raise interest rates for the first time in nearly a decade in September, according to a Reuters poll that suggests economists now are mostly confident about that timing.

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Wholesale prices fall 2.36 percent in May

India's wholesale prices fell at a slower-than-expected annual rate of 2.36 percent in May, their seventh straight fall, mainly on the back of plunging oil and manufacturing goods prices, government data showed on Monday.

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