Economic News

SHANGHAI (Reuters) – Tesla will not occupy a booth at China’s largest annual autoshow to be held next week in Shanghai, according to plans published by the event’s organisers.

By Mimosa Spencer PARIS (Reuters) -Sales at Birkin bag maker Hermes rose 23% in the first quarter, above market expectations, as wealthy shoppers in China and Europe splurged on luxury fashion and accessories despite higher prices and global market turmoil.

ACCRA (Reuters) – Ghana expects the International Monetary Fund’s board to approve a $3 billion loan by the end of the second quarter of 2023, Finance Minister Ken Ofori-Atta said in a presentation on Thursday.

(Reuters) – Rheinmetall has been hired as a subcontractor in the Norwegian armed forces’ order for 54 Leopard 2 battle tanks from Krauss-Maffei Wegman (KMW), the German manufacturer said on Friday.

FRANKFURT (Reuters) – Tesla has lowered the price of its Model 3 in Germany by 2,000 euros, or 4.5%, to 41,990 euros ($46,462) per vehicle, according to data on its website.

By Tetsushi Kajimoto TOKYO (Reuters) – Japan’s core consumer inflation likely held steady in March, a Reuters poll of 19 economists showed, highlighting persistent price strains and keeping the central bank under pressure to shift away from stimulus.

(Reuters) – Pakistan’s central bank governor said on Friday that the country’s inflation is expected to start decelerating over the next few months.

BUDAPEST (Reuters) – Hungary abandoned a Budapest-based Russian bank this week because U.S. sanctions had “ruined” it, Prime Minister Viktor Orban said on Friday, adding that Hungary would comply with sanctions on Russia but continue to speak out against them.

By Hyonhee Shin SEOUL (Reuters) – North Korea says it has tested a new solid-fuel intercontinental ballistic missile (ICBM), its first known use of the propellant in a longer-range projectile, as it seeks the capability to launch with little preparation.

PARIS(Reuters) – French annual inflation rose to a slightly revised 5.7% in March – albeit down from 6.3% in February – as lower energy prices helped offset surging food prices, according to final figures from the INSEE statistics body on Friday.

LONDON (Reuters) – Ukrainian troops have been forced to withdraw from some territory in the battlefield city of Bakhmut as Russia mounts a renewed assault there with intense artillery fire over the past two days, Britain said in an intelligence update on Friday.

LONDON (Reuters) – Struggling British fashion brand Superdry said on Friday a potential equity raise of up to 20% backed by founder and CEO Julian Dunkerton was among funding options being considered.

By Liangping Gao and Marius Zaharia BEIJING/HONG KONG (Reuters) – Liu Baoxiang, who runs a mahjong parlour in a city on China’s rust belt, no longer splurges on extravagant fashion items after seeing the two flats he owns lose roughly a third of their value over

By Kevin Yao BEIJING (Reuters) – China’s gross domestic product likely perked up in the first quarter of the year, a Reuters poll showed on Friday, as the end of strict COVID-19 curbs helped lift the world’s second-largest economy out of a crippling pandemic slump.

BEIJING (Reuters) – China is willing to work with Germany on the economic and trade fronts, and the two countries are partners, not adversaries, its foreign minister, Qin Gang, said on Friday.

MOSCOW (Reuters) – Russia’s ambassador to the United States said Washington had threatened retaliation after Wall Street Journal reporter Evan Gershkovich was detained on espionage charges, and suggested it might be time to cut the number of U.S. journalists in Russia.

(Reuters) – Germany’s wholesale price index rose in March compared with the same month last year, according to data released on Friday.

By Sarah N. Lynch and Idrees Ali WASHINGTON (Reuters) – An Air National Guardsman suspected of leaking highly classified U.S. documents that have embarrassed Washington with allies around the world will be arrested on Thursday in Massachusetts, a source familiar with the situation told Reuters.

SINGAPORE (Reuters) -Singapore’s central bank on Friday left its monetary policy settings unchanged, reflecting the city-state’s concerns about its growth outlook and surprising economists who had expected another round of tightening.

BUDAPEST (Reuters) – Hungarian police found 17 migrants crammed into a closed space with no proper ventilation when they stopped a truck with Turkish license plates near the southern border.