Russia says Britain requested permission for spy plane to fly over Russia

MOSCOW, Aug 16 (Reuters) – Russia’s Defense Ministry said on Tuesday that Britain has requested permission for its RC-135 spy plane to fly over Russia, a move it termed “a deliberate provocation”. A UK Ministry of Defense source denied that Britain had asked permission to fly a spy plane over Russia. The Russian Defense Ministry … Read more

US housing starts near 1-1/2-year low; factory output rebounds

Housing starts drop 9.6%; building permits fall 1.3% Single-family starts tumble 10.1%; permits drop 4.3% Housing construction backlog rises 5.0% Manufacturing production rebounds 0.7% WASHINGTON, Aug 16 (Reuters) – US homebuilding fell to the lowest level in nearly 1-1/2 years in July, weighed down by higher mortgage rates and prices for construction materials, suggesting the … Read more

Analysis: Fed faces balance sheet dilemma as US economy slows

The US Federal Reserve Building is pictured in Washington, March 18, 2008. REUTERS/Jason Reed Register now for FREE unlimited access to Register NEW YORK, Aug 15 (Reuters) – With the recent slowdown in inflation, the Federal Reserve is faced with a conundrum ahead of a plan next month to double the rate at which … Read more

Ex-Myanmar Leader Suu Kyi Said to Get Six More Years in Prison

Three other senior officials, including deposed Naypyidaw mayor Myo Aung and his deputy Ye Min Oo, were sentenced to three years each in prison for the same charges, the person said. Major General Zaw Min Tun, lead spokesman of the ruling State Administration Council, did not immediately answer calls seeking comment on the ruling.

As Fed warns of turbulence ahead, markets remove their seat belts

WASHINGTON, Aug 15 (Reuters) – The Federal Reserve’s hawkish message on inflation registered quickly in US housing markets this summer as mortgage rates shot up and home sales slowed. But that was the one prominent and anticipated adjustment across an economy that has met the US central bank’s most aggressive shift of monetary policy in … Read more

Modi says India aims to become a developed nation in 25 years

NEW DELHI, Aug 15 (Reuters) – India will aim to become a developed nation within 25 years, Prime Minister Narendra Modi said in a national day address on Monday, with policies to support domestic production in power, defense and digital technology. Speaking from the 17th century Red Fort in Delhi as India celebrates its 75th … Read more

China Shocks With Rate Cut as Data Show ‘Alarming’ Slowdown

So far, policy makers have refrained from a large-scale bailout for property developers and repeated hawkish language against speculation in the sector. Liu Peiqian, chief China economist at NatWest Group Plc, said “more substantial easing on the property sector” and a relaxing Covid policies were needed to improve sentiment.

Switzerland could align with the EU energy saving drive, the energy minister says

Swiss Environment, Energy and Transport Minister Simonetta Sommaruga addresses a session of the Swiss federal parliament at the Bundeshaus in Bern, Switzerland May 2, 2022. REUTERS/Arnd Wiegmann Register now for FREE unlimited access to Register ZURICH, Aug 14 (Reuters) – Switzerland could prevent an energy shortage by aligning with a European Union plan to … Read more

Sri Lanka Allows China Research Ship to Dock After India Concerns

The US has also been lobbying the government to revoke Chinese access to the port, the Washington Post previously reported, citing an unnamed Sri Lankan official. India and the US argue that allowing the visit will be seen as giving special treatment to China when the country is seeking to renegotiate its debt and seek … Read more