Iran’s energy export revenue up 60pc in March-May

Iran’s energy export revenue is 60 per cent higher in the first two months of the Iranian year (March 21 to May 21) compared to the same period a year ago, an official from the Iranian oil ministry told the ministry’s SHANA news agency on Sunday.
30 May 2022, 18:00 PM

Rouble rallies

The rouble firmed sharply in volatile trade on the Moscow Exchange on Monday, reversing some of last week’s heavy losses as it retained support from capital controls and Russia’s strong trade account.
30 May 2022, 18:00 PM

US extending tariff exemptions

The United States is extending for another six months exemptions from punitive tariffs for some medical products from China, the US Trade Representative announced Friday.
29 May 2022, 18:00 PM

Cost-of-living crisis forces more Brits to foodbanks

On an overcast morning in Bradford, northern England, a steady stream of locals arrive at a foodbank to collect produce parcels described as  “a lifesaver” during the worst cost-of-living crisis in a generation.
29 May 2022, 18:00 PM

India faces wider coal shortages

India is expected to face a wider coal shortage during the quarter ending September over expectations of higher power demand, an internal power ministry presentation seen by Reuters showed, worsening risks of widespread power outages.
29 May 2022, 18:00 PM

Google may join India’s open e-commerce network

Alphabet Inc’s Google is in talks with the Indian government to integrate its shopping services with the country’s open e-commerce network ONDC, two sources familiar with the matter told Reuters.
29 May 2022, 18:00 PM

Russia expects $14b in additional energy revenue

Russia expects to receive one trillion rubles in additional oil and gas revenues this year, the finance minister said Friday, adding that part of the windfall will be spent on Moscow’s offensive in Ukraine.
28 May 2022, 18:00 PM

China punishes officials for falsifying data

China has punished a number of local officials with demotions or dismissal for falsifying economic data, the country’s statistics bureau said on Friday, as part of an effort to curb data fraud as the economy falters.
28 May 2022, 18:00 PM

Hungary eyes Russian oil ban exemption

With EU leaders set to meet Monday to try to seal a sixth Russia sanctions package that includes an oil embargo, Hungarian Prime Minister Viktor Orban has mounted his latest show of defiance.
28 May 2022, 18:00 PM

Russia being pushed towards default

Russia may escape defaulting on its debt on Friday, but the tightening noose of Western sanctions over its invasion of Ukraine is inexorably drawing the nation towards a default.
28 May 2022, 18:00 PM

Russia looking to boost grain exports

Russia said Friday it was looking to ramp up its production of grain to export in the coming season, amid a global food crisis exacerbated by Moscow’s military campaign in Ukraine.
28 May 2022, 18:00 PM

India’s Q1 GDP growth likely slowed: poll

India’s economic recovery from the Covid-19 pandemic likely stumbled again in the first quarter of this year primarily due to Omicron-related restrictions and higher inflation, a Reuters poll showed.
28 May 2022, 18:00 PM

Rising US wages support spending

American wages continued to rise in April, supporting an ongoing increase in consumption in the face of an inflation wave that nonetheless shows signs of waning, according to government data released Friday.
28 May 2022, 18:00 PM

India’s GAIL open to buying Russian oil and gas assets

India’s largest gas transmitter GAIL is open to buying Russian oil and gas assets shunned by Western companies after Moscow’s invasion of Ukraine if the deal made commercial sense, the company’s Chairman Manoj Jain said on Friday.
28 May 2022, 18:00 PM

Pfizer may sell drugs at cost to poor nations

US pharmaceutical giant Pfizer on Wednesday said it would sell its patented drugs on a not-for-profit basis to the world’s poorest countries, as part of a new initiative announced at the World Economic Forum in Davos.
25 May 2022, 18:00 PM

M&S pulls out of Russia

British retailer Marks & Spencer will end its franchise agreement in Russia in the coming months and joined rivals in warning about the outlook for the current year amid a worsening cost-of-living crunch.
25 May 2022, 18:00 PM

Electric car sales soar

Sales of electric cars accelerated last year but the availability of critical raw materials such as lithium risked slowing the sector’s growth, a report warned Monday.
24 May 2022, 18:00 PM

Sri Lanka hikes fuel prices to record high

Cash-strapped Sri Lanka sharply hiked fuel prices to a record high on Tuesday, causing further pain to the country’s 22 million people in its worst crisis since independence.
24 May 2022, 18:00 PM

Rouble firms past 57 vs dollar for first time in 4 years

The Russian rouble strengthened to levels not seen since March 2018 against the dollar on Tuesday, boosted by export-focused companies selling foreign currency to pay taxes and shrugging off a slight easing of capital controls.
24 May 2022, 18:00 PM

Palm oil: Local prices fall as Indonesia lifts ban on exports

Palm oil prices in domestic wholesale and retail markets have started cooling off after Indonesia announced that it would resume exports of the product.
24 May 2022, 04:00 AM