Jordan's Prime Minister Omar al-Razzaz promised on Sunday to deepen a crackdown on tax evasion that officials say has deprived the country's cash-strapped economy of billions of dollars' revenue in recent years.
Bank of Israel Governor Amir Yaron on Sunday threw his support behind a second stimulus package to help those hurt by the coronavirus outbreak despite the extra spending that is expected to boost budget deficits in the next two years.
Turkey has revoked a requirement that central bank deputy governors have 10 years prior experience and dropped a rule that banks set aside 20% of annual profit, the official gazette showed on Sunday. According to a decree published on the gazette, signed by President Tayyip Erdogan, the phrase "worked for at least ten years in relation to their professions" in the central bank law, was removed.
Bank of America revised its inflation forecast for Mexico this year to 4%, from 3.7% previously, the bank said in a research note, adding that the current climate makes further interest rate cuts by the central bank more difficult.
Ethiopian authorities said on Friday they had arrested two suspects over the killing of a popular political singer, whose death last week sparked protests in which 166 people were killed. The shooting of Haacaaluu Hundeessaa, a musician widely revered among his Oromo ethnic group, ignited protests in Addis Ababa and the surrounding Oromiya region.
The safe-haven Japanese yen climbed to a two-week peak against the
dollar on Friday, lifted by concerns about a surge in coronavirus infections in the United States and
around the world.
The yen ...
U.S. producer prices unexpectedly fell in June as rising costs for energy goods were offset by weakness in services, pointing to subdued inflation that should allow the Federal Reserve to keep pumping money into the economy to arrest a downward spiral. Still, deflation remains unlikely as the economy battles depressed demand caused by the COVID-19 pandemic.
* Producer prices fall 0.2% in June. * PPI declines 0.8% on year-on-year basis. * Core PPI rises 0.3%; down 0.1% year-on-year. By Lucia Mutikani. U.S. producer prices unexpectedly fell in June as rising costs for energy goods were offset by weakness in services, pointing to subdued inflation that should allow the Federal Reserve to keep pumping money into the economy to arrest a downward spiral.
The Baltic Exchange's main sea freight index was unchanged on Friday, as gains in panamax and supramax vessel rates offset losses in capesize rates, although it was set for its first weekly decline in eight. * The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, was flat at 1,810.
New bank lending in China rose 22.3% in June as authorities continued to boost credit and ease policy to get the world's second-largest economy humming again after a sharp coronavirus-induced contraction.
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