Business News

BENGALURU (Reuters) — South Korea’s central bank will raise its key interest rate again on Thursday to fight inflation, according to a Reuters poll of economists, but they are divided on how high borrowing costs will be by the year-end. Inflation in South Korea accelerated to an almost 24-yea…

(Reuters) — Oil rose on Tuesday as renewed concerns over tight supply dominated market sentiment after Saudi Arabia warned that the major oil producer could cut output to correct a recent oil price decline. Brent crude futures advanced 93 cents, or 1%, to $97.41 a barrel by 0328 GMT, after a choppy…

(AP) — Another broad stock market sell-off on Monday deepened Wall Street’s losses from last week, leaving the S&P 500 with its biggest slide since mid-June. The benchmark index fell 2.1%, nearly doubling its losses from last week, when it broke a four-week winning streak. The Dow Jones Industr…

BENGALURU (Reuters) — The U.S. Federal Reserve will raise rates by 50 basis points in September amid expectations inflation has peaked and growing recession worries, according to economists in a Reuters poll, who said the risks were skewed towards a higher peak. Still around a four-decade high, inf…

SHANGHAI (Reuters) — China cut its benchmark lending rate and lowered the mortgage reference by a bigger margin on Monday, adding to last week’s easing measures, as Beijing boosts efforts to revive an economy hobbled by a property crisis and a resurgence of Covid cases. The People’s Ban…

SYDNEY (Reuters) — Asian shares slipped on Monday and the dollar extended its climb amid angst over global growth as most central banks keep raising rates, while a modest easing by China served only to highlight troubles in its property market. U.S. Federal Reserve Chair Jerome Powell headlines a h…

NEW YORK (Reuters) — U.S. stocks fell on Friday in a broad selloff led by megacaps as U.S. bond yields rose, with the S&P 500 posting losses for the week after four straight weeks of gains. Amazon.com, Apple and Microsoft all fell and were the biggest drags on the S&P 500 and Nasdaq. Higher…

BEIJING (Reuters) — A Shanghai court on Friday sentenced Chinese-Canadian billionaire Xiao Jianhua, not seen in public since 2017, to 13 years in jail and fined his Tomorrow Holdings conglomerate 55.03 billion yuan ($8.1 billion), a record in China. Xiao and Tomorrow Holdings were charged with ille…

ATHENS (Reuters) — Greece’s exit on Saturday from the European Union’s so-called enhanced surveillance framework for its economy ends 12 years of pain and allows the country greater freedom in policy making, its prime minister said. Greece’s economic performance and policies have …

(NMC) — Residence Lodge is the latest company to sign on as a Northern Marianas College ProaPerks Partner, joining many other businesses and organizations. All card-carrying members of the NMC ProaPerks program can now receive a 5% discount on rental fees. Located on Alaihai Ave. in Garapan, Reside…