The Iranian rial currency dipped on Saturday but remained above historic lows after news that talks with world powers to revive the 2015 Iran nuclear accord may have run into difficulties. Indirect U.S.-Iranian talks on saving the 2015 Iran nuclear deal broke off on Friday until next week, with European officials voicing dismay at sweeping demands by Iran's new, hardline government.
- Goldman Sachs on Saturday cut its outlook for U.S. economic growth to 3.8% for 2022, citing risks and uncertainty around the emergence of the Omicron variant of the coronavirus. Goldman economist Joseph Briggs said in a note that the Omicron variant could slow economic reopening, but the firm expects "only a modest drag" on service spending.
At least 20 people drowned on Saturday when a bus carrying a group of religious faithful was swept away by flood waters as the driver tried to cross a river in the eastern Kenyan county of Kitui, the county governor said. Many parts of the East African nation have been experiencing unusually heavy rainfall in the past week.
Goldman Sachs on Saturday cut its outlook for U.S. economic growth to 3.8% for 2022, citing risks and uncertainty around the emergence of the Omicron variant of the coronavirus. Goldman economist Joseph Briggs said in a note that the Omicron variant could slow economic reopening, but the firm expects "only a modest drag" on service spending.
Turkish President Tayyip Erdogan said on Saturday he hoped that volatile foreign-exchange and inflation rates would stabilise shortly and he again promised low interest rates, after a historic plunge in the lira currency to record lows.
Pakistan on Saturday received a $3 billion loan from Saudi Arabia, the prime minister's finance adviser said, as part of an economic support package. The South Asian country has faced growing economic challenges, with high inflation, sliding forex reserves, a widening current account deficit and a depreciating currency.
The Semeru volcano on the Indonesian island of Java erupted on Saturday, killing one person, injuring at least 35 and trapping some people in buildings as it spewed out huge clouds of smoke and ash, officials said. Videos shared by emergency officials showed residents running as towering plumes of smoke and ash blanketed nearby villages in East Java province.
Vingroup JSC, Vietnam's largest conglomerate, said on Saturday it is planning to list its car unit on the U.S. stock market in the second half of next year, in an offering expected to raise at least $3 billion.
Vingroup JSC, Vietnam's largest conglomerate, has established a Singapore-based holding company called VinFast Singapore that owns stake in Vingroup's car unit, VinFast operation in Vietnam, the company said on Saturday. The move is part of the company's plan to list shares of its car unit in the United States, Vingroup said in a statement.
Taiwan and the United States have mutually beneficial trade relations especially in technology, and the two have "smooth" communication channels and will keep talking to each other on currency issues, Taiwan's central bank said on Saturday.
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