UPDATE 1-Lebanon c.bank tells banks to make cheap dollar loans to those hit by Beirut blast

(Adds details, context on blast and financial crisis) BEIRUT, Aug 6 (Reuters) – Lebanon’s central bank on Thursday instructed banks and financial institutions to extend exceptional dollar loans at zero interest to individuals and firms impacted by the Beirut port explosion that caused huge damage across the capital. The explosion on Tuesday was the most […]

Italy's June industry output bodes well for GDP rebound in Q3-EconMin

MILAN, Aug 6 (Reuters) – Higher than expected industry output in June will likely lead to a strong rebound of Italy’s economy activity in the third quarter of this year, Economy Minister Roberto Gualtieri said. “The recovery continues, (Italy’s statistic institute) ISTAT estimates that industrial production rose 8.2% in June, an increase that creates the […]

China c.bank says it will make prudent monetary policy more flexible and targeted

BEIJING, Aug 6 (Reuters) – China’s central bank said on Thursday it will make prudent monetary policy more flexible and targeted, and keep liquidity appropriately ample. The People’s Bank of China (PBOC) said it expected the macro leverage ratio to gradually return to a reasonable level, and vowed to help banks to replenish capital and […]

UPDATE 2-Mall operator Hammerson to raise 825 mln pounds to ride out pandemic

* Hammerson to raise 825 mln pounds * Deals backed by largest shareholders * H1 rental income plunges due to virus crisis * Shares fall 4% (Adds analyst quote, shares and background) By Samantha Machado Aug 6 (Reuters) – British shopping centre operator Hammerson plans to raise 825 million pounds ($1.1 billion) from a rights […]

CEE MARKETS-Crown steadies after rally before central bank meets

PRAGUE, Aug 6 (Reuters) – The Czech crown steadied near a multi-month high on Thursday after rallying this week before the central bank meets, with interest rates expected to remain unchanged. Other central European currencies pulled back from gains in the previous session, led by the Hungarian forint easing 0.4%. A Reuters poll on Thursday […]

S.Korean stocks hit highest close in near 2 years, won at 5-month high

* KOSPI rises, foreigners net buyers * KRW strengthens to 5-month high vs USD * South Korea benchmark bond yield rises * For the midday report, please click SEOUL, Aug 6 (Reuters) – Round-up of South Korean financial markets: ** South Korean stocks on Thursday closed at a near two-year high, tracking gains in Wall […]

UK's labour market slump eases in July, but outlook grim: REC

LONDON, Aug 6 (Reuters) – The downturn in Britain’s labour market eased further in July as more of the economy reopened following the coronavirus lockdown, but the outlook remains bleak as employers expect a wave of redundancies to follow, a survey showed on Thursday. The figures from the Recruitment and Employment Confederation (REC) and accountants […]

UPDATE 2-Panama airline Copa, grounded due to pandemic, reports 98% drop in revenue

(Adds detail on Copa’s cash position) By Marcelo Rochabrun Aug 5 (Reuters) – Panama’s Copa Airlines on Wednesday reported that it earned almost no income between April and June, with revenue falling 98% as coronavirus-related measures virtually shuttered the Panama City airport that serves as its home base. Panama’s tough anti-coronavirus measures, including a travel […]

Singapore's DBS Q2 profit falls 22% as loan loss provisions increase

SINGAPORE, Aug 6 (Reuters) – Singapore’s DBS Group Holdings reported a 22% fall in second-quarter profit as it increased loan loss allowances in a pandemic-hit market but said business activity was improving as economies emerge from lockdowns. Southeast Asia’s biggest lender reported profit for the June quarter at S$1.25 billion ($913 million) on Thursday compared […]