ECB to end stimulus in prelude to rate hikes

The European Central Bank is set to draw a line under its massive bond-buying stimulus programme at a meeting in Amsterdam on Thursday, as inflation in the eurozone soars to all-time highs.
6 June 2022, 18:00 PM

New car sales in Russia plunge 83.5pc

New car sales in Russia sank by 83.5 per cent year-on-year in May, industry data showed on Monday, as the effects of unprecedented Western sanctions hit the country’s economy and consumers.
6 June 2022, 18:00 PM

France in talks with UAE to replace Russian oil

France is in talks with the United Arab Emirates to replace Russian oil purchases, which will stop after the imposition of a European Union ban on Russian crude, Finance Minister Bruno Le Maire said on Sunday.
5 June 2022, 18:00 PM

Oman, Iran ink deals on oil field, gas pipelines

Oman and Iran signed deals to develop two gas pipelines and an oil field along their maritime border, Oman’s energy minister said Saturday, less than two weeks after Iran’s president visited the sultanate.
5 June 2022, 18:00 PM

US firms still struggle to deal with inventories

More than two years into the Covid-19 pandemic, American businesses are still struggling to manage their inventories in a feast-or-famine cycle caused by fickle consumer demand.
5 June 2022, 18:00 PM

Japan may resume tourism discount

Japan's government is considering resuming a national travel discount campaign as soon as late this month to help the tourism industry recover from a Covid-19 slump, the Nikkei newspaper said on Saturday.
4 June 2022, 18:00 PM

US services growth slows amid rising prices

The dominant services sector saw growth slow in May, while price gains pulled back from the blistering pace in the prior month but remained high, according to an industry survey released Friday.
4 June 2022, 18:00 PM

Bosphorus sea trade unaffected by war

At the gates of the Black Sea, trade is in full swing as freighters and oil tankers sail from the heart of Istanbul to Russian and Ukrainian ports.
4 June 2022, 18:00 PM

India says no plans for now to curb food exports

India has no plans to curb food exports for now, Piyush Goyal, the Minister for Commerce and Industry, Consumer Affairs and Food and Public Distribution said on Friday, weeks after New Delhi banned private wheat exports.
4 June 2022, 18:00 PM

US labour market keeps Fed on fierce rate hike path

US employers hired more workers than expected in May and maintained a fairly strong pace of wage increases, signs of labour market strength that will keep the Federal Reserve on an aggressive monetary policy tightening path to cool demand.
4 June 2022, 18:00 PM

Russia seeks to minimise effects of EU oil ban

Russia said Wednesday it was moving to limit the damage from an EU oil ban as its other key energy export, gas, has fallen after President Vladimir Putin sent troops to Ukraine.
2 June 2022, 18:00 PM

Asia’s factory activity loses steam in May

Asia’s factory activity slowed in May as China’s heavy-handed coronavirus curbs continued to disrupt supply chains and dampen demand, adding to woes for some countries in the region that are already struggling with surging raw material prices.
1 June 2022, 18:00 PM

Sri Lanka port switches to pedal power

Cash-strapped Sri Lanka’s main seaport unveiled a free bicycle service on Tuesday, allowing workers to navigate the facility without petrol-powered vehicles, as the island nation struggles with unprecedented fuel shortages.
31 May 2022, 18:00 PM

Russians feel little economic pain now but outlook darkens

For Oleg Kechin, owner of a chain of barbershops, forecasts that Russia will be plunged into its deepest economic crisis in a generation feel overdone.
31 May 2022, 18:00 PM

China offers stimulus for virus-hit economy

China’s cabinet announced a package of 33 measures covering fiscal, financial, investment and industrial policies on Tuesday to revive its pandemic-ravaged economy, adding it will inspect how provincial governments implement them.
31 May 2022, 18:00 PM

Eurozone inflation soars to new record

Eurozone inflation accelerated to another record high in May, data showed Tuesday, as the war in Ukraine stoked energy and food prices and threatened to flatline the economy.
31 May 2022, 18:00 PM

Container vessels must sail out within 48 hours

Chattogram Port Authority (CPA) has aggravated shipping agents, directing that container vessels irrespective of carrying capacities from today must sail out from the port jetties within 48 hours on completing unloading and loading of containers. 
31 May 2022, 18:00 PM

UK to lend $450m in five years

British International Investment (BII) has embarked on an ambitious plan of lending $450 million to Bangladesh over the next five years, finding that the country has a stable government and policy support for private sector development.
31 May 2022, 05:00 AM

Russia eyes gas-for-roubles template

Russia is considering settling pressing Eurobond obligations by applying the mechanism being used to process payments for its gas in roubles, the Kremlin and the finance minister said, as Moscow edges towards a default triggered by Western sanctions.
30 May 2022, 18:00 PM

How the Ukraine conflict is reshaping global oil markets

Russia’s invasion of Ukraine has reconfigured the global oil market, with African suppliers stepping in to meet European demand and Moscow, stung by Western sanctions, increasingly tapping risky ship-to-ship transfers to get its crude to Asia.
30 May 2022, 18:00 PM