ECONOMY & MARKETS

Sri Lanka hired Lazard and Clifford Chance as financial and legal advisers respectively to represent the government in talks with international creditors, three sources familiar with the situation said on Monday.

While the world economy faces headwinds, current growth forecasts offer a buffer against a potential global recession, the International Monetary Fund's No. 2 official said Monday.

U.S. households reported their highest level of financial well-being since tracking began almost a decade ago and the gains were felt across all racial and ethnic groups, a Federal Reserve report released on Monday showed.

U.S. stocks ended higher on Monday as gains from banks and a rebound in megacap market leaders supported a broad-based rally following Wall Street's longest streak of weekly declines since the dotcom bust more than 20 years ago.

Wall Street's main indexes were set for a higher open on Monday, helped by a bounce back in growth and bank stocks, after the benchmark S&P 500 hovered near a grim market milestone at the end of last week.

U.S. stocks ended higher on Monday as gains from banks and a rebound in market-leading tech shares supported a broad-based rally following Wall Street's longest streak of weekly declines since the dotcom bust more than 20 years ago.

Wall Street rallied on Monday as gains from banks and recently battered megacap market leaders helped U.S.

The S&P 500 and the Dow rose on Monday, led by gains in banks and Apple after a sharp selloff last week, while a slide in Tesla and chipmakers weighed on the tech-heavy Nasdaq.

Nepal's state-owned oil company has hiked the retail prices for fuels, including petrol and cooking gas, by up to 12.5% because of rising global oil prices, an official said on Monday, stoking concerns consumer inflation will be further pushed up.

A free bitcoin pizza stall and a "Liquidity Lounge" were among the treats on offer for attendees at this year's meeting in Davos, where blockchain and cryptocurrency firms have taken over its main street, despite a recent crash in digital coin values.

German business morale rose unexpectedly in May thanks to a pick up in the services sector in Europe's largest economy that helped offset the impact of high inflation, supply chain problems and the war in Ukraine, a survey showed on Monday.

The Indian government is likely to stick to its fiscal deficit target as specified in the budget and there may not necessarily be a need for increasing government borrowing just yet, governor Shaktikanta Das told CNBC-TV18 in an interview on Monday.

The dollar index fell on Monday while the euro rallied after the European Central Bank indicated a move from negative interest rates, and riskier currencies gained ground along with equities.

The dollar began the week on the back foot, following its first weekly loss in nearly two months, as investors cut bets on further dollar gains from rising U.S.

The dollar slipped on Monday as investors kept up selling pressure, cutting bets on further dollar gains from rising U.S.

U.S. and European stocks rallied on Monday, with the S&P 500 for the moment moving away from a bear market, while the euro leapt after the European Central Bank said it was likely to lift its deposit rate out of negative territory by September.

U.S. and European stocks mostly rallied on Monday, with the S&P 500 trading just above bear market territory, while the euro jumped after the European Central Bank said it was likely to lift its deposit rate out of negative territory by September.

Asian stocks weakened on Monday as investors worried inflation and rising interest rates would hamper the global economic outlook and China's COVID-19 situation weighed on sentiment, with tech firms particularly hit.

Asian stocks came under pressure on Monday as persistent worries about inflation and rising interest rates dogged the global economic outlook and fresh selling in technology stocks weighed on Chinese markets.

Indian steel firms could be forced to cancel European orders and suffer losses after an overnight decision to impose export taxes on steel products, V R Sharma, managing director at Jindal Steel and Power told Reuters.

India on Saturday announced a series of changes to the tax structure levied on crucial commodities in a bid to insulate consumers from rising prices amid high inflation.

Germany and Italy told companies they could open rouble accounts to keep buying Russian gas without breaching sanctions against Moscow following discussions with the European Union, sources said.

The stock market's brutal year neared a grim milestone as the S&P 500's slide on Friday threatened to leave it in a bear market for the first time since March 2020, fueled by worries over sky high inflation, a hawkish Federal Reserve and future economic growth.

The stock market's brutal year neared a grim milestone as the S&P 500's slide on Friday threatened to leave it in a bear market for the first time since March 2020, fueled by worries over sky high inflation, a hawkish Federal Reserve and future economic growth.

A rout in consumer stocks gained more steam on Friday, as shares of Ross Stores led a retreat of other discount stores to cap off a bleak week for retailers.

Having long trod a similar path in tackling low inflation, Japan and Europe now appear to be taking contrasting approaches to monetary policy and the risks of rising prices, which drew warnings at this week's Group of Seven gathering in Germany.

Canadian Finance Minister Chrystia Freeland on Friday defended the central bank as inflation spikes to a three-decade high and the frontrunner to take over the opposition Conservative Party pledges to fire the Bank of Canada governor if elected.

The Bank of Japan will keep interest rates ultra-low as inflation won't pick up much, governor Haruhiko Kuroda said on Friday, underscoring the view that Japan will remain an outlier among G7 nations eyeing monetary policy tightening.

Lebanon's government foresees cancelling "a large part" of the central bank's foreign currency obligations to commercial banks and dissolving non-viable banks by November, according to a financial recovery plan passed by the Cabinet on Friday.