ICC gets first woman chairperson

The 212th World Council of the International Chamber of Commerce (ICC) unanimously elected its vice-chairperson Maria Fernanda Garza as chairperson for a two-year term.
15 June 2022, 18:00 PM

India’s wholesale prices hit 30-year high

High global energy and raw material prices combined with a weak rupee fueled the fastest annual rise in India’s wholesale prices in more than 30 years, raising expectations for the central bank to order more interest rate hikes.
14 June 2022, 18:00 PM

Turkey laying Black Sea gas pipeline

Turkey’s president hailed on Monday the start of the construction of an underwater pipeline to tap a Black Sea natural gas field that the government hopes will help wean the country off its dependence on energy imports.
14 June 2022, 18:00 PM

Energy crisis grips Australia

Australians have been warned to expect blackouts across the densely populated east coast on Tuesday, as an energy crisis grips one of the world’s biggest coal and gas producers.
14 June 2022, 18:00 PM

Global oil demand growth to slow in 2023

World oil demand growth will slow in 2023, Opec delegates and industry sources said, as surging crude and fuel prices help drive up inflation and act as a drag on the global economy.
14 June 2022, 18:00 PM

EU turns to Israel for gas

The European Union wants to strengthen its energy cooperation with Israel in light of Russia’s use of gas supplies to  “blackmail” its members over the Ukraine conflict, European Commission chief Ursula von der Leyen said Tuesday.
14 June 2022, 18:00 PM

In miracle city Shenzhen, fears for China’s economic future

David Fong made his way from a poor village in central China to the southern boomtown of Shenzhen as a young man in 1997. Over the next 25 years he worked for a succession of overseas manufacturers before building his own multi-million-dollar business making everything from schoolbags to toothbrushes.
13 June 2022, 18:00 PM

Indian rupee hits record low

The Indian rupee plunged to a record low against the dollar on Monday, ahead of an expected US interest rate hike this week aimed at fighting surging inflation.
13 June 2022, 18:00 PM

Britain GDP unexpectedly shrinks

Britain’s economy unexpectedly shrank in April, official figures showed on Monday, adding to fears of a sharp slowdown just three days before the Bank of England announces the scale of its latest interest rate response to the surge in inflation.
13 June 2022, 18:00 PM

India holds ample rice stocks

India, the world’s biggest rice exporter, has ample stocks of rice and there is no plan to restrict exports, the top official at the food ministry said on Monday.
13 June 2022, 18:00 PM

US electric vehicle maker ELMS files for bankruptcy

Electric delivery van maker Electric Last Mile Solutions, under investigation by a top US securities regulator, has announced plans to file for bankruptcy, less than a year after going public.
13 June 2022, 18:00 PM

US, EU divided over LDC trade benefit extension

Two major economic powers of the world, the US and the European Union, are divided on continuation of trade facilities meant for the least-developed countries (LDCs) once they make the United Nations status graduation to become developing countries.
13 June 2022, 03:30 AM

Ukraine grain exports face bottlenecks

Ukraine has established two routes through Poland and Romania to export grain and avert a global food crisis although bottlenecks have slowed the supply chain, Kyiv’s deputy foreign minister said on Sunday.
12 June 2022, 18:00 PM

India considers curbing fridge imports

India is considering restricting imports of refrigerators to promote local manufacturing, two industry sources told Reuters on Thursday, potentially freezing out shipments from Samsung Electronics Co and LG Electronics Inc in the $5 billion market.
12 June 2022, 18:00 PM

Resurging US inflation puts Fed on track for more big rate hikes

Red-hot US inflation is showing few signs of cooling, putting the Federal Reserve on track to continue its aggressive interest rate increases to help cool high prices that are challenging Joe Biden’s presidency.
12 June 2022, 18:00 PM

Rebranded McDonald’s restaurants open in Russia

It might look and smell like McDonald’s but now it’s Vkusno & tochka. The golden arches are gone, the filet-of-fish is simply a fish burger. The Big Mac has left Russia.
12 June 2022, 18:00 PM

Cash-strapped Sri Lanka announces weekly fuel quotas

Crisis-hit Sri Lanka announced weekly fuel quotas for motorists on Sunday, as an acute shortage worsened and longer queues formed outside the few pumping stations still operating.
12 June 2022, 18:00 PM

India issues 6m tonnes imported coal tenders

Coal India, the world’s largest coal miner by output, has issued two tenders to import 6 million tonnes of coal for utilities in the next 12 months, it said on Friday, as the government seeks to boost fuel availability.
12 June 2022, 18:00 PM

WTO chief warns of rocky road to deals

World Trade Organization chief Ngozi Okonjo-Iweala expressed cautious optimism on Sunday that more than 100 trade ministers meeting in Geneva would achieve one or two global deals this week, but warned the path there would be bumpy and rocky.
12 June 2022, 18:00 PM

Iran, Venezuela sign two-decade cooperation deal

Iran and Venezuela signed a 20-year deal on cooperation between the two allies subject to US sanctions during a visit Saturday to the Islamic republic by Venezuela’s President Nicholas Maduro.
11 June 2022, 18:00 PM