LONDON, June 25 Reuters Central banks should embrace the benefits of artificial intelligence AI the Bank for International Settlements BIShas said, but stressed the technology should not replace humans when it comes to setting interest rates. In its first major report into the rapidly advancing world of AI, the central banking umbrella group said policymakers […]

MADRID, June 25 Reuters Spain39;s government passed an inflation relief package worth nearly 3 billion euros 3.21 billion on Tuesday, including measures such as a lower income tax for minimum wage workers and an extension of zero valueadded tax on basic food items. The income tax cut will cost the treasury 1.4 billion euros and […]

BUENOS AIRES, Reuters Argentina entered a technical recession in the first quarter of the year, official data showed on Monday, and job losses mounted amid a tough austerity drive by libertarian President Javier Milei who is prioritising restoring fiscal order. The South American country39;s gross domestic product GDP shrank 2.6 in the first quarter of the […]

SYDNEY, June 25 Reuters Australian consumer sentiment rebounded modestly in June as the promise of imminent tax cuts lightened the mood, a survey showed on Tuesday, though the risk of yet higher borrowing costs loomed in the background. The WestpacMelbourne Institute index of consumer sentiment rose 1.7 in June from May, when it dipped 0.3. […]

SHANGHAI, June 25 Reuters Retailers in China face a daunting nearterm future after a disappointing midyear online shopping festival that has also clouded the recovery prospects of the world39;s secondlargest economy. Ecommerce sales decline for the first time during the socalled 618 festival that ended last week, reports said, reflecting the pressures building up on retailers who […]

TOKYO, June 25 Reuters The Bank of Japan is dropping signals its quantitative tightening QT plan in July could be bigger than markets think, and may even be accompanied by an interest rate hike, as it steps up a steady retreat from its stillhuge monetary stimulus. Hawkish hints delivered over the past week highlight the […]

DUBAI, June 25 Reuters Dubai will spend 30 billion dirhams 8.2 billion to boost its rainwater drainage system after the Gulf city was hit by the heaviest downpours recorded in the UAE in 75 years in April. Dubai, widely considered the Gulf39;s tourism and business hub, was brought to a standstill as rains wreaked havoc, damaging roads, shops […]