How Sri Lanka’s economy went into a tailspin

Sri Lanka is suffering its worst economic crisis since its independence from Britain in 1948.
12 May 2022, 18:00 PM

Japan passes bill to guard sensitive technology

Japan’s parliament on Wednesday passed an economic security bill aimed at guarding technology and reinforcing critical supply chains, while also imposing tighter oversight of Japanese firms working in sensitive sectors or in critical infrastructure.
11 May 2022, 18:00 PM

Colombo port resumes operations

Operations and navigation at the Port of Colombo resumed yesterday following a two-day hiatus for ongoing political unrest in Sri Lanka, albeit bringing temporary relief to Bangladesh’s exporters, freight forwarders and shipping firms.
11 May 2022, 18:00 PM

Govt to open up submarine cable business to private firms

Private companies in Bangladesh are set to get licences to establish, maintain and operate submarine cables, in a shift that will break the state monopoly and pave the way for a smooth supply of bandwidth amid a surge in internet use.
11 May 2022, 18:00 PM

26 firms to get productivity, quality excellence awards

Twenty-six firms are going to receive the National Productivity and Quality Excellence Award 2020 as a recognition for their continuous improvement in productivity and quality.
10 May 2022, 18:00 PM

Japan’s spending dips amid worries over surging prices

Japan’s household spending dipped 2.3 per cent in March from a year earlier as the cost of fuel and other items surge, though the fall was smaller than expected.
10 May 2022, 18:00 PM

US retail gasoline prices soar

Retail gasoline prices in the United States rose on Tuesday and hit another all-time record, surpassing one set in March, as global refineries grappled with a bottleneck that has sent prices soaring ahead of driving season.
10 May 2022, 18:00 PM

Malaysia may cut palm oil export tax

Malaysia’s commodities ministry has proposed cutting export tax on palm oil by as much as half to help fill a global edible oil shortage and grow the market share of the world’s second-largest palm oil producer.
10 May 2022, 18:00 PM

Dollar hits 20-year high

The US dollar reached a new 20-year high on Monday as risk-off sentiment stemming in part from concerns over the Federal Reserve’s ability to combat high inflation boosted the greenback’s safe-haven appeal.
10 May 2022, 18:00 PM

Bitcoin drops below $30,000, lowest since July 2021

Bitcoin slumped below $30,000 for the first time since July 2021 on Tuesday as cryptocurrencies track sinking markets with investors spooked by aggressive US monetary tightening and surging inflation.
10 May 2022, 18:00 PM

China’s Iranian oil imports ease on lure of Russian oil

China’s Iranian oil imports in April came off peak volumes seen in late 2021 and early 2022 as demand from independent refiners weakened after Covid-19 lockdowns pummelled fuel margins and on growing imports of lower-priced Russian oil.
9 May 2022, 18:00 PM

Asian stocks tumble on global anxieties over inflation

Asian stocks fell on Monday as investors remained anxious over inflation and the ongoing impact of China’s Covid lockdown policies, despite an initial Wall Street bounce thanks to a solid US jobs report.
9 May 2022, 18:00 PM

S Korea’s incoming govt may join US economic pact

South Korea is  “positively considering” joining an Indo-Pacific economic pact planned by the United States, a government official said on Monday, after domestic media said the incoming administration had decided to join as a founding member.
9 May 2022, 18:00 PM

Japan to take time phasing out Russian oil: PM

Japan will take time to phase out Russian oil imports after agreeing on a ban with other Group of Seven (G7) nations to counter Moscow’s invasion of Ukraine, Prime Minister Fumio Kishida said on Monday.
9 May 2022, 18:00 PM

China’s export growth hits 2-year low amid virus curbs

China’s export growth slowed to single digits, the weakest in almost two years, while imports barely changed in April as tighter and wider Covid-19 curbs halted factory production and crimped domestic demand, adding to wider economic woes.
9 May 2022, 18:00 PM

Indian rupee falls to new low on fears over inflation

The Indian rupee plunged to an all-time low against the greenback on Monday, as US monetary policy tightening roiled sentiment and foreign investors continued to dump domestic stocks.
9 May 2022, 18:00 PM

G7 countries pledge to stop Russia oil imports

The G7 club of wealthy nations committed Sunday to phasing out its dependency on Russian oil and issued a scathing statement accusing President Vladimir Putin of bringing  “shame” on Russia with his invasion of Ukraine.
9 May 2022, 18:00 PM

UAE to introduce unemployment insurance

The United Arab Emirates will introduce a form of unemployment insurance, the cabinet said on Monday, the latest reform by the Gulf country as it strives to attract talent and investment amid increasing regional economic competition.
9 May 2022, 18:00 PM

UAE’s non-oil sector maintains solid growth

The United Arab Emirates’ non-oil private sector maintained solid growth in April but inflationary pressures loomed, a survey showed on Monday.
9 May 2022, 18:00 PM

Canada to help Ukraine find options

Canada will help Ukraine work out options on how to export stored grain to uphold global food security that has been shaken by Russia’s invasion of the country, Canadian Prime Minister Justin Trudeau said late on Sunday.
9 May 2022, 18:00 PM