ECONOMY & MARKETS

The Canadian flag flutters in the wind in Quebec City, February 26, 2010.

Canada's Economy Gains Momentum In Q2, Rate Hikes Loom

Canada's economy was not as robust as expected in the first quarter, but had momentum heading into the second, official data showed on Tuesday, reinforcing the likelihood of another oversized rate hike from the central bank this week.

TSX Gives Back Monthly Gain As Resource Shares Slide

The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019.
Canada's main stock snapped its recent winning streak on Tuesday, pressured by a drop in resource shares, as investors grew more nervous that central banks would hike interest rates aggressively to tame inflation.
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Sri Lanka's Prime Minister Ranil Wickremesinghe arrives for an interview with Reuters at his office in Colombo, Sri Lanka, May 24, 2022.

Crisis-hit Sri Lanka Hikes Tax Rates To Maximise Govt Revenues

Sri Lanka's cash-strapped government on Tuesday announced a taxation overhaul to boost revenue amid the country's crippling economic crisis, hiking value added taxes and corporate income tax, and slashing the relief given to individual taxpayers.
A Swiss flag is pictured during the sunrise on the Commercial and Financial District in Geneva, Switzerland, November 23, 2017.

Swiss Economic Expansion Set To Slow But Not Stall - Gov't

Switzerland's economic upswing is expected to ease this year as higher inflation, the war in Ukraine and renewed Chinese lockdowns slow the post-pandemic recovery that generated 0.4% growth in the first quarter, the government said on Tuesday.
Flags of United Arab Emirates, Israel and Expo 2020 Dubai flutter during Israel's National Day ceremony at Expo 2020 Dubai, in Dubai, United Arab Emirates, January 31, 2022.

Israel, UAE Boost Ties With Free Trade Pact

Israel signed a free trade agreement with the United Arab Emirates on Tuesday, its first with an Arab state and one which eliminates most tariffs and aims to lift their annual bilateral trade to more than $10 billion.
A woman holds Euro banknotes in this illustration taken May 30, 2022.

Euro's Losses Deepen After Inflation Data

The euro's losses deepened on Tuesday after data showing euro zone inflation hit a record high in May, but expectations the European Central Bank will soon hike rates kept the single currency on track for its best monthly performance in a year.

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