Latest news with #ReutersDailyBriefing
The Star
6 days ago
- Business
- The Star
South Korea to offer visa-free entry to Chinese tourists from late September
A large crowd of tourists walks through Bukchon Hanok Village in Seoul, South Korea, October 25, 2024. - Photo: Reuters file SEOUL: South Korea will offer visa-free entry to tourist groups from China, for a temporary period from September 29 through June 2026, to boost foreign tourism ahead of an Asia-Pacific summit, the government said on Wednesday (Aug 6). The visa-free offer was first announced in March after China's decision last November to offer a visa exemption to South Koreans and foreign visitors from other countries. The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here. It also comes amid expectations that ties between the two countries will improve under the new South Korean administration of liberal President Lee Jae Myung. The decision to introduce the measure ahead of a Chinese holiday period in early October will help boost the domestic economy amid a recovery in foreign visits, the tourism ministry said, after a meeting to discuss measures to revitalise tourism ahead of the Asia-Pacific summit. South Korea will host a summit of leaders from 21 economies for the Asia-Pacific Economic Cooperation (APEC) forum from October 31 to November 1 in the southeastern city of Gyeongju, a gathering where Chinese leader Xi Jinping and U.S. President Donald Trump might hold separate talks. Shares of South Korean department stores, casinos, hotels and beauty product makers rallied on hopes of a boost from Chinese demand. Hyundai Department Store ( opens new tab shares jumped 7.1%, Hotel Shilla ( opens new tab rose 4.8%, casino operator Paradise ( opens new tab climbed 2.9% and Hankook Cosmetics ( opens new tab surged 9.9%. - Reuters
Ya Libnan
30-06-2025
- Politics
- Ya Libnan
Iran says 71 killed in Israeli strike on Evin Prison
Tehran – Israel's attack on the Evin Prison in Iran's capital Tehran on June 23 killed 71 people, Iranian judiciary spokesperson Asghar Jahangir said on Sunday. At the end of an air war with Iran, Israel struck Tehran's most notorious jail for political prisoners, in a demonstration that it was expanding its targets beyond military and nuclear sites to aim at symbols of Iran's ruling system. The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here. 'In the attack on Evin prison, 71 people were martyred including administrative staff, youth doing their military service, detainees, family members of detainees who were visiting them and neighbours who lived in the prison's vicinity,' Jahangir said in remarks carried on the judiciary's news outlet Mizan. Jahangir had previously said that part of Evin prison's administrative building had been damaged in the attack and people were killed and injured. The judiciary added that remaining detainees had been transferred to other prisons in Tehran province. Evin prison holds a number of foreign nationals, including two French citizens detained for three years. 'The strike targeting Evin prison in Tehran, put our citizens Cecile Kohler and Jacques Paris in danger. It is unacceptable,' France's Foreign Minister Jean-Noel Barrot had said on social media X after the attack. Reuters
Ya Libnan
28-06-2025
- Business
- Ya Libnan
Musk calls president Aoun over Lebanon communication, internet sector
BEIRUT – Billionaire businessman Elon Musk and Lebanese President Joseph Aoun spoke by phone to discuss making elements of Musk's sprawling business empire available in Lebanon, a statement from Aoun's office said on Thursday. The statement said Musk called Aoun and 'expressed his interest in Lebanon and its telecommunications and internet sectors'. The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here. Aoun invited Musk to visit Lebanon and said he was open to having Musk's companies present in the country, which ranks among the countries with the lowest internet speeds. The call came just weeks after Aoun and other top Lebanese officials met with Starlink's Global Director of Licensing and Development, Sam Turner, in Beirut for talks on providing satellite internet services in Lebanon. U.S. ambassador Lisa Johnson was pictured attending those meetings. The negotiations have prompted some pushback in Lebanon. Internet access in the country has so far been operated exclusively by state-owned companies and their affiliates, who are lobbying the government not to license Starlink. Starlink recently received licenses to operate in India and Lesotho . (Reuters)
Business Recorder
24-06-2025
- Business
- Business Recorder
Shares rally, oil slumps as Trump announces Iran-Israel ceasefire
SYDNEY: Global shares rallied and the dollar extended declines on Tuesday after U.S. President Donald Trump said Iran and Israel had agreed to a ceasefire, sending oil prices into a deep dive as concerns over supply disruptions ebbed. The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here. There was no immediate comment yet from Israel. While an Iranian official earlier confirmed that Tehran had agreed to a ceasefire, the country's foreign minister said there would be no cessation of hostilities unless Israel stopped its attacks. Oil prices fell over 3%, having already slid 9% on Monday when Iran made a token retaliation against a U.S. base, which came to nothing and signalled it was done for now. With the immediate threat to the vital Strait of Hormuz shipping lane seemingly over, U.S. crude futures fell another 3.4% to $66.15 per barrel, the lowest since June 11. 'With markets now viewing the escalation risk as over, market attention is likely to shift towards the looming tariff deadline in two weeks time,' said Prashant Newnaha, senior Asia-Pacific rates strategist at TD Securities. 'Our sense is that the quicker than expected resolution to the Middle East conflict leads to expectations for a swifter resolution on tariffs and trade deals.' Risk assets rallied, with S&P 500 futures up 0.6% and Nasdaq futures 0.9% higher. EUROSTOXX 50 futures jumped 1.3% and FTSE futures rose 0.4%. The MSCI's broadest index of Asia-Pacific shares outside Japan jumped 1.8% while Japan's Nikkei rallied 1.4%. Two sources told Reuters that Japan's tariff negotiator Ryosei Akazawa is arranging his seventh visit to the United States for as early as June 26, aiming to end tariffs that are hurting Japan's economy. China's blue chips rose 1%, while Hong Kong's Hang Seng index gained 1.7%. News of the ceasefire saw the dollar extend an overnight retreat and slip 0.3% to 145.70 yen , having come off a six-week high of 148 yen overnight. The euro rose 0.2% to $1.1594 on Tuesday, having gained 0.5% overnight. The yen and euro benefited from the slide in oil prices as both the EU and Japan rely heavily on imports of oil and liquefied natural gas, while the United States is a net exporter. Stocks slide, oil and gold jump after Israel strikes Iran 'The market was so well hedged against a major tail-risk event to play out…the actions and the dialogue we've seen highlight that the tail risks have not and will highly unlikely materialise,' said Chris Weston, head of Research at Pepperstone. Ten-year Treasury yields were 2 basis points higher at 4.35%, having declined 5 bps overnight after Federal Reserve Vice Chair for Supervision Michelle Bowman said the time to cut interest rates was getting nearer as risks to the job market may be on the rise. Fed Chair Jerome Powell will have his own chance to comment when appearing before Congress later on Tuesday and, so far, has been more cautious about a near-term easing. Markets still only imply around a 22% chance the Fed will cut at its next meeting on July 30. The risk-on mood saw gold prices ease 0.6% to $3,346 an ounce.
Business Recorder
16-06-2025
- Business
- Business Recorder
Stocks, dollar show resilience in Asia as oil gains
SYDNEY: Asian markets kept their nerve on Monday and oil prices climbed anew as the conflict between Israel and Iran showed no sign of cooling, adding geopolitical uncertainty to the world's economic troubles in a week packed with central bank meetings. The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here. Yet there was no sign of panic among investors with currency markets calm and Wall Street stock futures steadying after an early dip. Oil did add 1% to last week's 13% surge in an inflationary pulse that, if sustained, should make the Federal Reserve even less likely to cut interest rates when it meets on Wednesday. Futures imply almost no chance of a reduction in the 4.25% to 4.5% rate band, and scant prospect of a move in July either. Markets will be particularly sensitive to any change in the Fed's 'dot plot' path for rates. 'The Committee will release a new set of economic forecasts, and we expect that the interest rate forecast 'dots', which last showed a median expectation of two cuts this year, will instead look for only one cut this year,' said Michael Feroli, head of U.S. economics at JPMorgan. Markets are still wagering on two easings by December, with a first move in September seen as most likely. Data on U.S. retail sales on Tuesday will also be a hurdle, as a pullback in autos could drag the headline down even as core sales edge higher. A market holiday in Thursday, means weekly jobless claims figures are out on Wednesday. For now, investors were waiting on developments and MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1%. Japan's Nikkei firmed 0.8% and South Korean stocks added 0.5%. Chinese blue chips added 0.1% as data showed retail sales rose 6.4% in May to handily top forecasts, while industrial output was in line with expectations. S&P 500 futures rose 0.1% and Nasdaq futures gained 0.2%, recovering from an early dip. Exposed to oil European markets were more pressured by the region's reliance on oil imports and EUROSTOXX 50 futures slipped 0.2%, while DAX futures lost 0.3%. FTSE futures were little changed. Yields on 10-year Treasuries were a shade higher at 4.41%, showing little sign of safe haven demand. Stocks slide, oil and gold jump after Israel strikes Iran In currency markets, the dollar firmed 0.2% on the Japanese yen to 144.39 , while the euro dipped 0.1% to $1.1530 . The spike in oil prices is a negative for the yen and euro at the margin as both Japan and the EU are major importers of energy, while the United States is an exporter. Currencies from oil exporters Norway and Canada both benefited, with the Norwegian crown hitting its highest since early 2023. 'We should expect that economies with a positive energy trade balance should see their currencies benefiting from the shock to oil prices,' noted analysts at Deutsche Bank. 'It's notable the dollar is in this category, highlighting how the U.S. has moved from a net energy-importer to a net exporter in recent years.' Central banks in Norway and Sweden meet this week, with the latter thought likely to trim rates. The Swiss National Bank meets on Thursday and is considered certain to cut by at least a quarter point to take rates to zero, with some chance it may go negative given the strength of the Swiss franc. The Bank of Japan holds a policy meeting on Tuesday and is widely expected to hold rates at 0.5%, while leaving open the possibility of tightening later in the year. There is also speculation it could consider slowing the rundown of its government bond holdings from next fiscal year. In commodity markets, gold was getting the safe-haven bid from Mid-East tensions and rose 0.5% to $3,450 an ounce . Oil prices were underpinned by fears the Israeli-Iran conflict could spread and disrupt exports from the region, particularly through the vital Strait of Hormuz. Brent climbed 72 cents to $74.95 a barrel, while U.S. crude rose 84 cents to $73.82 per barrel.
