India to Supply Fuel to Sri Lanka Only After Advance Payment

The larger South Asian neighbor stopped supplying gasoline and diesel on credit after the island nation ran out of dollars to purchase fuels amid its worst economic crisis. That’s holding up some fuel shipments pending cash payment by Sri Lanka’s Ceylon Petroleum Corp., according to two Indian government officials, who asked not to be identified … Read more

Tesla Pauses Plants After Ending Shaky Quarter With a Production Milestone

The electric-car maker will halt most production on its Model Y assembly line in Shanghai for the first two weeks of July, then stop the Model 3 line for a 20-day stretch starting July 18, Bloomberg reported last month. Upgrade work at the factory to boost output of both vehicles is expected to be completed … Read more

Stocks in Asia, US Futures Dip on Inflation Anxiety: Markets Wrap

“I would not rush in to buy anything blindly right now; I still think we are going to have some pains over the next couple of weeks and months as inflation starts to stabilize, ”Erin Browne, multi-asset strategies portfolio manager at Pacific Investment Management Co., said on the“ Bloomberg Surveillance ”show. .

Sri Lanka Is Put On Virtual Lockdown As Fuel Supplies Are Halted

Citizens were put on a virtual lockdown amid crippling sovereign debt crisis that’s left the nation with no fresh fuel supplies. .

Goldman Sees Emerging-Asia Currencies Coming Under More Pressure

“Along with the broader emerging market currency complex, high-yielding currencies like the Philippine peso, Indian rupee and Indonesian rupiah have been under pressure in June,” strategists including Zach Pandl and Danny Suwanapruti wrote in a research note. “In coming weeks, we expect this pressure to continue versus the dollar, in some cases potentially posing upside … Read more