SEOUL — South Korea’s central bank has warned debt repayment risks would sharply increase for small business owners next year, according to a biannual financial stability report released on Wednesday. Read More
Ukrainian and Russian forces remained entrenched in eastern Ukrainian battlegrounds going into Wednesday, a day of commemoration in both countries to mark the anniversary of Hitler’s invasion of the Soviet Union in 1941. Read More
HONG KONG — The Australian dollar rose on Tuesday after the central bank flagged more rate hikes were on the way, but the uptick was restrained by lower commodity prices, while the Japanese yen languished near a 24-year low. Read More
Dmitry Muratov, the co-winner of the 2021 Nobel Peace Prize and the editor of one of Russia’s last major independent newspapers, auctioned off his Nobel medal for a record $103.5 million to aid children displaced by the war in Ukraine. Read More
BENGALURU — Bank Indonesia will leave its key interest rate steady at 3.50% on Thursday but over one-quarter of economists in a Reuters poll expect a rate rise to stem imported inflation from a weak rupiah currency as the U.S. Federal Reserve tightens aggressively. Read More
SEOUL — South Korea’s central bank governor on Tuesday said the bank will look at inflation data, household debt repayment burden and the currency market before determining whether a 50 basis point hike is needed in the next few weeks. Read More
(Bloomberg) — Oil ticked higher as traders weighed the odds of a recession in the US amid Federal Reserve tightening, with President Joe Biden pushing back against the notion that the world’s largest economy faces a contraction. Read More
BOGOTA/BUCARAMANGA — Leftist Gustavo Petro, a former member of the M-19 guerrilla movement, who has vowed profound social and economic change, won Colombia’s presidency on Sunday, the first progressive to do so in the country’s history. Read More
SHANGHAI — China kept its benchmark lending rates for corporate and household loans steady at its June fixing on Monday, matching market expectations. Read More
Curacao will begin negotiations with a seven-company consortium to take over management of the Caribbean island’s oil refinery and storage terminal, state-owned Refineria di Kòrsou (RdK) said on Sunday. Read More