Edible oil market turns more volatile

The edible oil market has become more volatile after wholesalers and millers cut supplies in anticipation of increased prices of the essential cooking ingredient in the wake of the export ban by Indonesia, the world’s biggest supplier of vegetable oil.
23 April 2022, 18:00 PM

EU praises Dhaka’s commitment to ILO standards

Bangladesh’s determination to meet its commitment to abide by International Labour Organization (ILO) standards has been warmly praised by the Members of the European Parliament (MEPs) trade committee, according to the EU Reporter.
23 April 2022, 18:00 PM

Russia fines Google over Ukraine ‘fakes’

A Russian court has fined Alphabet Inc.’s Google 11 million roubles for failing to delete what it terms “fake” information about the conflict in Ukraine and YouTube videos produced by Ukrainian far-right groups, TASS reported.
21 April 2022, 18:00 PM

China UnionPay, Russia’s potential payments backstop

Several Russian banks plan to issue payment cards that use the network of China UnionPay as well as that of home-grown payment system Mir, after Visa Inc and MasterCard Inc joined other Western firms in suspending operations in Russia.
21 April 2022, 18:00 PM

China slowdown raises risks for global economy

A prolonged slowdown in China would have substantial global spillovers, IMF Managing Director Kristalina Georgieva said on Thursday, but added that Beijing has room to adjust policy to provide support.
21 April 2022, 18:00 PM

Oil stabilises after big drop

Asian markets were marginally higher on Wednesday while oil began recovering after a downgraded IMF global growth forecast for 2022 had sent crude prices plunging.
20 April 2022, 18:00 PM

Restructure debt before bailout IMF asks Sri Lanka

The International Monetary Fund said on Wednesday that it has asked cash-strapped Sri Lanka to  “restructure” its huge foreign debt before a bailout programme could be finalised as anti-government protests escalated across the island.
20 April 2022, 18:00 PM

Crypto industry steps up efforts to influence EU policy

More than 40 crypto business leaders have asked the European Union not to require crypto firms to disclose transaction details and dial down attempts to bring to heel rapidly growing decentralised finance platforms.
19 April 2022, 18:00 PM

IMF cuts global growth forecast

The International Monetary Fund on Tuesday slashed its forecast for global economic growth by nearly a full percentage point, citing Russia’s war in Ukraine, and warning that inflation was now a “clear and present danger” for many countries.
19 April 2022, 18:00 PM

Oil price dips on demand concerns

Oil prices fell in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) reduced its economic growth forecasts and warned of higher inflation.
19 April 2022, 18:00 PM

Asia markets cautious over China growth news

Asian stocks were digesting growth concerns in China and rising interest rates in the United States on Tuesday with Hong Kong dropping sharply while Japan edged higher on the back of a plummeting yen.
19 April 2022, 18:00 PM

Yellen to call for increased economic pressure on Russia

US Treasury Secretary Janet Yellen this week will call on her counterparts to ramp up the economic pain on Moscow over its invasion of Ukraine, a senior Treasury official said Monday.
19 April 2022, 18:00 PM

Denmark unveils energy plan to be ‘free from Putin’

Denmark presented on Tuesday a roadmap to end its dependence on Russian gas through a mix that includes renewable energy and biogas to become  “free” from President Vladimir Putin.
19 April 2022, 18:00 PM

Soaring battery costs fail to cool electric vehicle sales

Buyers around the world are lining up to purchase electric vehicles this year even with sticker prices surging, flipping the script on a decade and a half of conventional auto industry wisdom that EV sales would break out only after battery costs dropped below a threshold that was always just over the horizon.
19 April 2022, 18:00 PM

High debt could slow countries’ recoveries

Debt accumulated by businesses and individuals worldwide could slow economic recoveries from the pandemic crisis, the IMF warned Monday.
19 April 2022, 18:00 PM

WB plans $170b crisis fund for poor nations

The World Bank is seeking to create a $170 billion emergency fund to help the poorest nations being buffeted by multiple crises, the bank’s President David Malpass said Monday.
19 April 2022, 18:00 PM

China likely to lower benchmark lending rates

Benchmark lending rates for China’s commercial banks are likely to be lowered at a monthly fixing on Wednesday, a Reuters survey showed, as Beijing cautiously eases monetary conditions to aid an economy hit by coronavirus lockdowns in several cities.
19 April 2022, 18:00 PM

India urges IMF to immediately provide financial assistance to Sri Lanka

India today urged the International Monetary Fund (IMF) to urgently provide financial assistance to the economic crisis-hit Sri Lanka.
19 April 2022, 07:04 AM

US banks’ commodity trading exposures rise

Wall Street banks’ commodities trading exposures are rising, which could leave them vulnerable to large swings in asset values following Russia’s invasion of Ukraine, first quarter earnings disclosures showed.
18 April 2022, 18:00 PM

China’s daily coal output hits record high

China’s coal output rose 15 per cent in March from the same month a year ago, with daily production climbing to a record, as Beijing urged miners to crank up operations to ensure steady market supply.
18 April 2022, 18:00 PM