Commodity currencies bear brunt of yen bounceback
Latest moves tracked falling prices for industrial metals such as iron ore and copper
Spanish banks, unions agree on 11pc pay raise over three years
Bank profits are rising amid higher interest rates
Chief cabinet secretary calls for broad-based Japan wage hikes
Hints at fresh fiscal stimulus package to cushion the blow to households if inflation further rises
Sri Lanka interest rates slashed to help fuel economic recovery
Borrowing costs are now down 7.25pc, partially reversing 10.50pc hikes that started in April 2022
Higher food prices, expensive fuels fuel Pakistan's weekly inflation
Indirect taxes imposed by Islamabad responsible for this trend
Lula questions need for Brazil government spending cuts
He is a strong critic of policies like higher interest rates and focus on reducing budget deficit
Gold prices soar to record as US rate-cut bets burnish appeal
Analyst says $2,500 range is next immediate target
Data 'add somewhat to confidence' that US inflation is returning to 2pc: Powell
Last week, the Labour Department reported that the CPI fell in June from the month before
Yen hits four-week high, intervention questions circulate
Bank of Japan spent between $21.18bn-$22bn on buying the Japanese currency on Thursday
Oil prices down for week, US consumer sentiment weaker
Brent fell more than 1.7pc after four weeks of gains. WTI posts 1.1pc weekly decline
US inflation cools in May, boosting hopes of Fed rate cut
PCE price index flat in May, up 2.6pc on year-on-year basis
Pakistan expected to see fuel price hike from July 1
Rs8 per litre increase expected in Petrol, diesel to become costlier by Rs10
Japan issues fresh warnings after yen hits a 38-year low
Finance minister says concerned over negative impact on economy
Why India food prices will remain high
A drought last year and an ongoing heatwave have significantly reduced the supplies
Japan warns against rapid FX moves, reiterates readiness for action
Talks about responding appropriately as Japanese yen falls close to 160 to dollar
Oil prices up over 3pc for the week
Strong dollar, mixed global economic news made Brent and WTI some of the gains on Friday
No change in Australia interest rates, as only one US rate cut in 2024 is now a likely scenario
Reserve Bank of Australia doesn't rule further hikes
Chinese investors' rush for offshore assets spurs Hong Kong wealth inflows
Investments into Hong Kong and Macau hit 13bn yuan in March
China new home prices fall at fastest clip in nearly 10 years
May is the 11th straight month of decline
Lula again questions high Brazilian interest rates 'in a country with 4pc inflation'
Says celebrating with central bank chief must be ‘profiting’ from elevated borrowing costs
PM reduces industrial power tariff, Nepra increases base price
Lower prices are meant to make the industries competitive in global market
Economic survey 2023-24: Most targets missed but agriculture saves the day
Aurangzeb shares the budget document at a press conference
Japan GDP shrinks 1.8 in first quarter
Private consumption, which accounts for more than half of Japanese economy, fell 0.7pc
Oil down for third week on a row amid deflated US rate cut expectations
ECB rate cut had spurred hopes for similar Fed action
European stocks rally ahead of first ECB rate cut in nearly five years
Canada on Wednesday became the first G7 country to go for rate cuts in this cycle
ECB rate cuts expected from a record high of 4pc
Borrowing costs to be reduced by a quarter percentage point on Thursday
BOJ policymaker warns Japan may miss inflation target from 2025
Sees sluggish consumption, slowing global growth
Shehbaz promises blanket security to lure Chinese investment
Offers his sincere apologies for Shangla suicide bombing
Proposals for 10pc to 20pc Pakistan wage hike under consideration
Increase in other benefits, including medical and conveyance allowances, also on the table
No relief for emerging currencies seen as investors ponder potential US rate cuts, elections
Reuters poll shows nearly all of them are forecast to weaken
Oil on a slide despite extension in OPEC+ production cuts
Brent was down 3.4pc and WTI 3.6pc on Monday despite OPEC+ continuing with supply cuts
Homeowners and housebuilders pin hopes on ECB rates cut
Last year, 294,000 new homes built in Germany, well below the target of 400,000 set by Scholz govt
Turkish inflation hits 75pc in expected peak before relief
Interest rates currently stand at 50pc after 4,150 basis points hikes since June last year
Pakistan inflation drops to 11.8 in May, reinforcing rate cuts hopes
Monetary Policy Committee is scheduled to meet on June 10
Affordable housing to stay out of reach in major economies: Reuters poll
A majority of respondents favour government intervention. The US is the only exception
US inflation up moderately in April, consumer spending weakens
Data provides little clarity whether Federal Reserve will start US rate cuts in September
Oil down ahead of OPEC+ meeting, posts weekly loss
Market under pressure over the prospect of US interest rates staying higher for longer
The rich to push India home prices higher, affordable housing supply to lag demand
Home purchases driven by select few who mostly remain unaffected by higher interest rates
Pakistan inflation continues easing, May CPI expected to stay below 13.5pc
Trend boosts prospects of interest rate cuts, as Monetary Policy Committee meets on June 10
Policymaker hints at Japan rate hike if yen fall has big impact on inflation
Says BOJ must look at both downside and upside economic risks
Sri Lanka interest rates maintained to foster economic stability
Annual inflation in April was 1.5pc, down from 6.4pc at the start of the year
India monsoon rains expected to be above average in a boost for agriculture
Season critical for Asia’s third largest economy, which delivers 70pc of annual precipitation
Federal development budget Rs1,200bn, tax collection target Rs12,500bn
Finance Minister Muhammad Aurangzeb will table budget on June 8
South Korea real estate scams produce debt and suicide
It has a unique system known as ‘jeonse’ which has fallen in popularity due to attached risks
Pakistan domestic, external debt to witness a substantial increase in FY25
Sources are expecting an addition of Rs10,433bn to the total
Yen slide beyond 155 is a pain point for half of Japan firms
Reuters survey shows more than a third of them want interest rate hikes
Some Fed officials at last meeting favoured US rate hikes if inflation remains sticky
Disinflation would likely take longer than previously thought
Ongoing IMF-Pakistan talks aren't likely to produce any result
Process to continue after the visiting team leaves Islamabad
Japan manufacturers want a stable yen, top companies agree to 5.58pc average pay hike
Progress on wages is a product of 'shunto' or 'spring labour offensive'
'Historic' steps unveiled to stabilise crisis-hit China property sector
Local governments can instruct instruct state-owned firms to buy "some" apartments
Pakistan external financing needs estimated at $22bn, lower power tariffs proposed for industries
Islamabad sees loan rollovers, plans issuance of sukuk and panda bonds
US inflation resumes downward trend as domestic demand cools
Consumer price index rises 0.3pc in April after advancing 0.4pc in previous two months
Pakistan stocks set a new high, but later opt for market correction
Recent surge is product of rate cut prospects, progress in IMF talks
Central bank goes for another rate cut as Argentina inflation crests near 300pc
A retiree says prices are still expensive and we Argentines have very little purchasing power
Don't raise tax rates, expand tax net. It will also help arrest inflation: Citibank
Says State Bank of Pakistan will start interest rate cuts next month
KSE-100 reaches a new high amid rate cut hopes
Expected progress on new IMF programme also boosting the morale
The case for forever high interest rates
Huge investment needs and rising interest costs will increase government borrowing
Talks start to secure IMF programme, agreement reached on budget targets
No borrowing from central bank, timely external debt repayment to be ensured
No backtracking on tax net expansion: Aurangzeb
Also lists privatisation and energy sector reforms among top priorities
Budget to help easing Australia inflation, says government
Central bank expects that it will pick up to 3.8pc by June and stay there until the end of the year
Oil falls on prospect of higher-for-longer US interest rates, stronger dollar
Dallas Federal Reserve President Lorie Logan says policy may not be tight enough
IPP payments reach Rs1,800bn amid mounting Pakistan circular debt
Power and gas sectors’ share is Rs2,310bn and Rs2,900bn respectively
Fed official says US interest rates may have to be kept steady all year
Kashkari notes multiple positive inflation readings required to suggest disinflation is on track
Govt working on retirement, pension reforms
Azam Nazeer Tarar says move to cover all institutions which will be taken into confidence
Japan warns of action over volatile currency, notes other nations too share the concerns
Says issue discussed at ASEAN+3 finance ministers meeting and central bank governors conference
Pakistan stocks boom on Saudi investment, declining inflation
With rate cut hopes growing, prospects another IMF programme are also boosting the market
ECB rate cut case getting stronger, says chief economist
Overall inflation stood at 2.4pc last month
Turkiye inflation up near 70pc in April, highest since 2022
Minister says it will begin to decline sharply after peaking in May
Oil down over 7pc for the week -- the steepest loss in three months
OPEC+ could extend supply cuts beyond June
Weak yen boosts tourist wallets in Japan, per head spending up 52pc when compared to 2019
March saw monthly number of foreign tourists surpassing three million for first time in history
US labour costs growth accelerates in first quarter, is likely to delay Fed rate cuts
Employment Cost Index up 1.2pc, year-on-year increase is 4.2pc
Japan may introduce tax breaks to spur repatriation into yen
Market data suggests $35bn intervention on Monday to prop up Japanese currency
Inflation-wary US rate options market cautiously prices for more Fed hikes
Persistent inflation has dashed the hopes of clashing interest rates
Asian central banks shouldn't rely on US Fed interest rate moves: IMF
Notes adverse effects of Chinese ‘excess capacity’ both domestically and regionally
Japanese yen jumps against US dollar on suspected intervention
Traders had been on edge for weeks for any signs of action from Tokyo
Japanese yen trips past 160 per dollar to April 1990 lows
Markets on guard for any intervention by authorities to contain nearly 11pc slide this slide
Pakistan interest rates likely to be maintained, IMF will formally approve release of $1.1bn
Some experts still believe up to 100 basis points rate cut is possible
Japanese yen tumbles to a new low, US dollar gains after inflation data
The surge came after the Bank of Japan kept interest rates steady
Oil prices up for the week on supply concerns, but economic woes subdue gains
Persistent US inflation means Federal Reserve isn't going for rate cuts soon
Thailand interest rates: Thai lenders to cut rate by 25 bps for 'vulnerable groups'
Prime Minister Srettha Thavisin has been pressing hard for cut rates
Stocks set a new record amid growing hope for interest rate cuts
KSE-100 overcomes 72,000 hurdle by gaining nearly 1pc
MPC members say India rate cuts required to reach potential growth
However, they remained divided over timing
Pakistan Stock Exchange moves even higher as privatisation dream is coming true
Thrashes the 71,000 ceiling a day after by-election results indicated political stability
Fed survey cites inflation, interest rates, US election as key financial stability risks
The results were included as part of its latest Financial Stability Report
IMF admits Pakistan loan request: Minister says taking steps to curb inflation, US rates not a 'big concern'
Islamabad is hoping for up to $8bn under EFF under a programme spanning over two to three years
South Korea, Japan vow 'appropriate action' on weak won and yen
Won and yen have weakened more than 7pc and nearly 9pc respectively against US dollar this year
Powell dashes US rate cut hopes, says current policy needs more time to work
Market was earlier expecting the Fed to reverse the trend starting from June
Stocks in red zone after touching a new high amid uncertain outlook
KSE-100 tops 71,000 threshold during early trading, but closes the session with a 0.09pc loss
Strong US retail sales create fears that there won't any Fed rate cuts until September
Despite higher inflation and borrowing costs, spending is continuing to hold up
Dollar rally supercharged by US rate outlook, could complicate inflation fight for other economies
Yield differentials between the United States and others have widened in recent weeks
India inflation eases to five-month low thanks to drop in fuel prices
US interest rate cut delay may affect RBI decision
Oil posts weekly loss after nearing a six-month high
IEA trims 2024 demand growth view; Concerns prevail over slower US interest rate cuts
Pakistan Stock Exchange enters new territory on the promised Saudi investment
KSE-100 Index climbs over 70,000 hurdle
US rate cut expectations for 2024 fall to lowest since October
Treasury yields, which are swayed by interest rate expectations, have moved higher as a result
UK starting pay growth slowest in over three years: REC
Overall demand for staff fell for a fifth month in a row in March
Pakistan stocks on a high, KSE-100 breaches 69,000 ceiling
Latest gains comes after Saudi Crown MBS hosted Shehbaz in Makkah
Gold extends record rally amid speculative buying, geopolitical tensions
US job growth potentially delayed anticipated US interest rate cuts this year
Japan real wages fall for 23rd straight month in February
The wage trend is among the key data the Bank of Japan examines for pay and inflation outlooks
Pakistan consumers may face the brunt as oil prices up over 4pc in a week
US economy added 303,000 jobs last month, which may delay Federal Reserve interest rate cuts
A strong franc shielded Switzerland from inflation which is now lowest since Sept 2021
Consumer prices rose by 1pc from March 2023
Pakistan Stock Exchange sets a new record as investors see rate cuts
KSE-100 Index cross 68,000 mark
Interest rate cut hopes help KSE-100 Index jump by 1.30pc
Progress in PIA privatisation also acting as confidence booster
Safe-haven gold smashes record again as US inflation worries loom
Rise in raw materials prices triggering fears that inflation could resurge
ECB needs to stop subsidizing banks: Holzmann
Banks are sitting on 3.2 trillion euros of excess liquidity, parking it at the ECB at a 4pc rate
Pakistan annual inflation declines to 20.7pc in March
It is the lowest reading since May 2022 when the CPI had clocked 13.8pc
Gold hits record high as soft US inflation data cements June rate cut bets
It logged its biggest monthly rise in more than three years in March
Energy subsidy cuts likely to be Rs375bn in 2024-25, as Islamabad aims at new IMF deal
Move likely to produce adverse effects for consumers
Egypt population growth slows to 1.4pc, as a majority of people faces poverty
The Arab world's most populous country is currently home to just over 106m people
Nepra perturbed by a steady decline in power consumption
Notes adverse effects on consumers due to capacity charges
Govt reaches a deal with banks on PIA loan reprofiling
Privatisation plan envisages offering 51pc shares of the national flag carrier
KSE-100 Index sets a new high as privatisation prospects boost morale
Reaches 67,010.94 a day after closing at 66,547.78
Yen on intervention watch as Japan wary of 'disorderly and speculative moves'
It is currently traded for 151.35 against dollar
Japan makes strongest intervention warning as yen hits 34-year low
Expert says Tokyo inaction will encourage people to push dollar higher
South Korea interest rates: Seoul finalises $30.3bn plan for small businesses
Move result of shrinking domestic demand and real estate troubles
Australia inflation doesn't see spike despite Taylor Swift effect
Slowing inflation one reason why RBA kept rates unchanged at 4.35pc for a third straight meeting
Sri Lanka interest rate slashed, as Island nation seeks China deal
The central bank says the move will boost ‘the ongoing revival of economic activity’
India's central bank likely to hold rates steady until at least July
Inflation, which is still close to the upper band of the central bank's 2%-6% target
Bank of England to hold rate despite slowing inflation
UK's inflation rate has tumbled since striking a 41-year peak of 11.1 per cent in October 2022
BOJ chief vows to keep monetary stimulus, nods to price momentum
Finance minister warns watching yen moves with sense of urgency
Fed sees three rate cuts in 2024 but a shallower easing path
10 of the Fed's 19 officials see policy rate falling by three-quarters of a percentage point
ECB cannot commit to rate path even after first cut: Lagarde
Many ECB policymakers have expressed support for a first reduction in borrowing costs
China leaves benchmark lending rates unchanged, as expected
China's central bank left its medium-term lending facility (MLF) rate unchanged last week
Australia's central bank holds rates as expected, waters down tightening bias
The Australian dollar eased 0.3% to $0.6542; Three-year bond yields fell 5 basis points to 3.705%
Bank of Japan scraps negative interest rate
Raising the rate will make loans more expensive for consumers and businesses
State Bank expected to maintain interest rates today
Inflation in Feb was 23.1% against 28.3% in Jan
BOJ to end negative rate policy next week, says Nikkei
Japan's biggest companies agreed to raise wages by 5.28% for 2024
Positive IMF review outcome hopes propel Pakistan stocks by 1.59pc
Some experts are now hoping for rate cut on Monday, but a Reuters poll says it won’t happen
Pakistan interest rates expected to maintained at a 22pc high on Monday
Stock market has recently suffered losses amid fading hopes of reduction in borrowing costs
Germany property crisis will worsen and lead to more losses: Commerzbank
Pfandbriefbank says German office prices could fall further 10pc
IMF praises Pakistan, but wants stricter policies including no cheap gas for fertiliser plants
Visiting team starts final review of current programme, is briefed on govt plans
Stocks slide as market fears sustained interest rates in the coming months
The promises made by newly-appointed finance minister about IMF talks fail to boost confidence
Japan wage hikes: Toyota agrees to highest increase in 25 years
Panasonic, Nippon Steel also respond in full to the union demands
Aurangzeb is aiming at expanded long-term deal as IMF team arrives for last SBA review
Talks about boosting tax collection and expediting privatisation
Elevated food prices keep India inflation high
Cereal prices rose 7.60pc higher year-on-year in Feb compared to 7.83pc in the previous month
Declining property prices - 30pc of European office space may be 'obsolete': LaSalle
Says everyone has to accept the fact that pricing is down 30pc to 40pc
Ancient interest-free community banking enters digital age in Cameroon
Report says 85pc people in Africa are ‘excluded from the banking system’
KSE-100 Index down 1.45pc amid rising inflation and fading interest rate cut hopes
Market is in dire need of some catalyst to kickstart a crippled economy
Interest rates continue creating fissures between governments and central banks
Brazil President Lula says central bank chief’s ‘stubbornness’ sole reason behind high rates
Egypt urban inflation jumps to 35.7pc in Feb as currency devaluation is expected to inflict more pain
Egypt has also opted for rate hikes by 6pc as it successfully secured an $8 billion deal with IMF
Yen gains as bets firm for imminent Japan rate hike
Dollar index on Friday had slid to 102.33, a level not seen since Jan 15
Japan Oct-Dec GDP revised up to slight expansion, economy avoids recession
Japan last week saw inflation-adjusted real wages in January shrinking for the 22nd month in a row
Oil posts nearly 2pc weekly loss as markets weigh Chinese demand
OPEC+ members led by Saudi Arabia and Russia agreed on Sunday to extend voluntary oil output cuts
Gold extends rally to hit new record as Powell hints at US rate cut in 2024
Federal Reserve chief to speak again later in the day
Egypt secures IMF deal but inflation-hit Egyptians feeling more price pain after currency devaluation
Sisi remains focused on mega-projects as Cairo follows the IMF conditions
Egypt pound nosedives as Cairo goes for free trading, hikes interest rates by 6pc
Currency slides to 45 pounds for a dollar from previous level of 30 as govt meets key IMF demand
Australia interest rates: A crawling economy makes the case for slashing borrowing costs stronger
Treasurer Chalmers say balance of risks shifting
Rising dollar complicates worldwide efforts to fight inflation
US economy propels the world’s top currency as Europe, China and Japan can’t keep pace with it
Nikkei breaches 40,000 ceiling, Japan corporate spending on plants and equipment up 16pc
The capex data will be used to calculate revised gross domestic product figures due on March 11
Pakistan trade deficit registers over 30pc decline in Jul-Feb 2023-24
Exports up 9pc, imports down nearly 12pc
Pakistan inflation sees slowest CPI jump in February since June 2022
The decrease for the second consecutive month is mainly due declining food prices
Oil makes more weekly gains as OPEC+ is expected to continue production cuts
US economic data reinforces market bets for interest rate cut
G20 finance ministers have a lot on their plate - from regional conflicts to cost-of-living crisis
G20 accounts for over 80pc of global GDP, three-quarters of trade, two-thirds of world population
Global rich keep luxury property prices rising as Manila, Dubai soar: Knight Frank
Commercial real estate investment tumbled 46pc in 2023 to $698bn
Ex-cabinet advisor for sustained Japan negative rates, Fed official against pre-emptive cuts
Honda was an architect of the stimulus policy dubbed 'Abenomics
Food may have less influence in India CPI calculation amid spending trend shift
Indian farmers are already protesting and demanding higher prices
Japan inflation slows for third consecutive month to 2pc
Markets expect BOJ to end negative rates in March or April
How to provide affordable housing? By imposing up to 20pc property flipping tax
Canada is facing a crisis amid rise in migrants and international students
Dollar index sees first weekly fall this year, yen remains the worst performer
The greenback has risen this year on enduring economic strength
India interest rate impeding growth goals, says committee member
Says the MPC's inflation projections of 4.5pc for 2024-25 do not warrant a repo rate of 6.5pc
Brent down 2pc, WTI falls over 3pc as US rate cut hopes dim
Fed governor sees 'no rush' to slash interest rates
Nikkei hits record high after Nvidia beat, rest of Asia muted
Japan benchmark index has already jumped about 16.5pc this year
What about rate cuts? WB says emerging economies must grow 'much faster' for debt repayment
The warning comes as the IMF is forcing countries like Pakistan to maintain monetary tightening
Announcement about deal on govt formation propels Pakistan stocks
KSE-100 Index gains 1.81pc as investor await Islamabad’s future line of action to revive economy
Japan exports up 11.9pc in Jan but souring factory mood darkens outlook
Imports shrink by 9.6oc, leaving trade deficit at $11.73bn
Securing external financing to one of the most urgent issues for next Pakistan govt: Fitch
Says political instability will hamper future deal with IMF amid tougher conditions
China cuts mortgage reference rate more than expected to revive property market
It was the largest cut to the LPR since China revamped its loan pricing mechanism in 2019.
Thailand interest rates conundrum: Economy shrinks, as PM wants cuts but central bank doesn't
GDP fell 0.6pc in the October to December quarter on a seasonally adjusted basis
Japan ex-bank regulator warns of 'regime change' impact from negative interest rate policy exit
Financial institutions may start competing by offering high return to compete for deposits
China interest rate remains unchanged under shadow of Federal Reserve
The benchmark loan prime rate (LPR) could fall in coming days
China travel spending during Lunar New Year holidays beats pre-COVID levels
Total reached $87.96bn which represents a 7.7pc increase
Yields, dollar rise after stronger-than-expected US PPI data supress rate cut hopes
Bank of Japan Governor Kazuo Ueda says monetary policy would most likely remain accommodative
Political instability, rising cost of doing to business drags KSE-100 down by over 1.82pc
Moody’s see very high uncertainty around new IMF deal; Market reacts negatively to gas tariff hike
Interest rates and economic paralysis? Here is a lesson for Pakistan from South Korea
Seoul has prepared a $56.97bn programme to boost investment and support small businesses
Chip shares, weaker yen push Nikkei to fresh 34-year peak
Japan’ benchmark index had climbed to the all-time high of 38,957.44 on Dec 29, 1989
Japan recession makes Germany world's third-biggest economy
GDP fell an annualised 0.4pc in Oct-Dec period after a 3.3pc slump in the previous quarter
UK inflation holds at 4.0pc in relief for Bank of England
Sterling weakened against dollar and euro immediately after the inflation data was published
Looming election puts battered UK markets back in the spotlight
UK national debt is almost 100pc of gross domestic product
Pakistan Stock Exchange celebrates progress in govt formation with over 1.50pc surge
Market has been witnessing downward movement after Feb 8 polls generated a split mandate
Rate cuts not coming soon as US inflation stays elevated
CPI up 3.1pc in Jan, far above the Federal Reserve’s 2pc target
Pakistan stocks turn green after suffering massive early losses amid continued political uncertainty
Share market losses comes as dollar grows stronger globally
Nikkei soars to 34-year high on chip shares, yen gets weaker as no US rate cuts boosts dollar
The Bank of Japan is expected to resist rate hikes
India inflation eases to three-month low but rate cuts aren't expected yet
Food inflation rose 8.30pc in January, compared with a 9.53pc rise in December
Most strategists say it will be an uphill task to dethrone dollar in short-term
Reuters poll shows analysts wary of US currency's strength
Australia interest rates remained unchanged, central bank warns of possible hike
Inflation down to 4.1pc in Q4 from 7.8pc in late 2022, but it is still well above 2-3pc target band
Turkiye central bank chief quits, citing need to protect her family
President Erdogan has named Deputy Governor Fatih Karahan to take the reins
India interest rates likely to remain unchanged until mid-year
New Delhi eyes $2.4bn privatisation by March 31
Not a good news as there won't be any US interest rate cuts at least till May
Fed keeps policy rate in 5.25pc-5.50pc range; Fed's Powell says March rate cut unlikely
Pakistan interest rates? IMF sees scope for Asia rate cuts
A day earlier, it had slashed growth forecast for Pakistan to 2pc in 2024
Pakistan stocks tumble, rupee stays strong amid high interest rates and political uncertainty
One would have to see how the share and currency markets will act in the days leading to Feb 8
KSE-100 Index drops 1.63pc as rate cut hopes fade
The central is expected to retain the interest rates at 22pc
Scholz for EU capital markets union, ECB says rate cuts require slower wage growth
Says the single market is far too fragmented, especially when it comes to financial issues
