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Ethiopia becomes Africas Latest Sovereign Default

LONDON, Dec 26 Reuters Ethiopia became Africa39;s third default in as many years on Tuesday after it failed to make a 33 million coupon payment on its only international government bond. Africa39;s second most populous country announced earlier this month that it intended to formally go into default, having been under severe financial strain in […]
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Thailand Plans new Minimum Wage Hike, Keeps Inflation Target next Year

BANGKOK, Dec 26 Reuters Thailand will increase its minimum wage in January, Prime Minister Srettha Thavisin said on Tuesday confirming a previous deal, while the government plans to further raise it in March. A wage committee, comprised of government, employers and employee representatives, had previously agreed to increase the daily minimum wage by 2.37, effective in […]
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Dollar Wobbles in Thin Trading; Yen Firms

SINGAPORE, Dec 26 Reuters The dollar was trying to find a floor on Tuesday in holidaythinned trade, pressured by signs that inflation in the world39;s largest economy is cooling which will likely give the Federal Reserve room to ease interest rates next year. The yen meanwhile steadied near its recent fivemonth peak on the view […]
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Major Gulf Bourses Mixed on Tuesday

Dec 26 Reuters Major stock markets in the Gulf were mixed in early trade on Tuesday on optimism that the U.S. Federal Reserve would cut interest rates while geopolitical tensions in the Middle East weighed on investor sentiment. Saudi Arabia39;s benchmark index gained 0.8, led by a 2.5 increase in Al Rajhi Bank and a 2.6 increase […]
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Metals, Energy Stocks Power Gains in Indian Benchmarks

BENGALURU, Dec 26 Reuters Indian benchmarks settled higher on Tuesday lifted by gains in energy and metal companies, with rising expectations of interest rate cuts in the United States boosting global markets. The benchmark NSE Nifty 50 index gained 0.43 to 21,441.35 points, while the SP BSE Sensex settled 0.32 higher at 71,336.80 points. Both the indexes […]
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ClearMotion to Supply Smooth Suspension Tech for Nios ET9 EV

LONDON, Reuters U.S. startup ClearMotion will supply its active suspension technology for Chinese EV maker Nio39;s upcoming ET9 in a contract covering 750,000 cars over the lifetime of the luxury sedan model, the two companies said on Saturday. Nio was due to launch the ET9 on Saturday and the electric vehicle should go into production in late […]
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Indias Infosys Falls after 1.5 bln AI Deal Termination

BENGALURU, Dec 26 Reuters Shares of Infosys fell as much as 2.6 on Tuesday after the company said that an unnamed global company, which had signed a 1.5 billion deal focused on artificial intelligence solutions, decided to terminate its Memorandum of Understanding MoU with the IT giant. Infosys said it had plans to enhance digital experiences and provide business operation […]
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