Western economies agreed new price caps on Friday on Russia's exports of oil products that U.S. Treasury Secretary Janet Yellen said would build on the crude oil cap set in December and further limit Russian oil revenues while keeping global energy markets supplied.
Major central bank interest rates moves were off to a tepid start in January with a single hike by Canada but the pace will speed up again in February with policy makers in the U.S., Britain and the euro zone out of the starting blocks already.
* China, HK stocks end the week lower. * Moody's says Adani stock rout can hurt its ability to raise debt. * Czech crown stays near 14-year highs after rates kept on hold. * Turkey inflation higher than expected, lira subdued. * EM stocks off 0.5% and down 1% this week. By Bansari Mayur Kamdar.
Assa Abloy, the world's biggest lockmaker, raised its dividend more than expected as it met quarterly profit forecasts on Friday, signalling its confidence even as it braces for an uncertain economic outlook. The Swedish group reported a 28% increase in fourth-quarter operating profit to 5.15 billion Swedish crowns from 4.01 billion a year-earlier.
Assa Abloy, the world's biggest lockmaker, raised its dividend more than expected as it met quarterly profit forecasts on Friday, signalling its confidence even as it braces for an uncertain economic outlook. The Swedish group reported a 28% increase in fourth-quarter operating profit to 5.15 billion Swedish crowns from 4.01 billion a year-earlier.
British government bond prices soared after the Bank of England signalled on Thursday that the tide was turning on high inflation and that a peak in Bank Rate was getting closer as it raised interest rates for a 10th consecutive meeting.
The British pound fell against the dollar on Thursday after the Bank of England raised its main interest rate to the highest level since 2008 while hinting that rates were near their peak. The BoE voted 7-2 to raise its interest rate by 50 basis points to 4.00% in its 10th straight hike, a move mostly expected by investors and economists.
* Massive decline in exports points to challenging year -DIHK. * Germany's trade surplus fell for the fifth consecutive year. * Imports from Russia rose to a total of 35.3 billion euros. By Maria Martinez.
The British pound slipped on Thursday to its lowest level against the euro since September as investors awaited the Bank of England and European Central Bank policy decisions later in the day. The BoE is expected to raise its main interest rate by 50 basis points, its 10th consecutive rate rise, as it keeps up its fight against rampant inflation.
The end of the easy-cash era is over and its impact yet to be felt on world markets, hopeful that the pain of aggressive rate hikes and high inflation has passed. U.S. and UK central banks are unwinding stimulus further by offloading bonds they hold, and the European Central Bank will join them soon.
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