S Korea fines Mercedes $16.9m over emission

South Korea’s antitrust regulator said on Monday it decided to fine German carmaker Mercedes-Benz and its Korean unit 20.2 billion won ($16.9 million) for false advertising tied to gas emissions of its diesel passenger vehicles.
7 February 2022, 18:00 PM

China’s auto exports double in 2021

China’s automobile exports doubled year on year to nearly 2.02 million units in 2021, latest data from the China Association of Automobile Manufacturers showed.
6 February 2022, 18:00 PM

IBBL clinches remittance award

Islami Bank Bangladesh Ltd (IBBL) has received the Gold Award in the Remittance Award-2021 and 2022 by the Centre for NRB, a non-profit research organisation for non-resident Bangladeshis.
6 February 2022, 18:00 PM

Dubai plans to cut carbon emissions 30pc by 2030

Dubai plans to cut carbon emissions by 30 per cent by the end of 2030, the emirate’s government media office said on Sunday on its website.
6 February 2022, 18:00 PM

China joins industrial design IP treaty

China has joined the World Intellectual Property Organization’s treaty on protecting industrial designs, which should help Chinese designers safeguard their work internationally, the UN agency said Saturday.
6 February 2022, 18:00 PM

Bitcoin mimics stocks rally, hits 2-week high

Bitcoin hit its highest in two weeks on Saturday, extending the previous session’s strong gains as cryptocurrencies basked in a recovery in risk appetite and a rally in stock markets.
5 February 2022, 18:00 PM

Sri Lanka seeks IMF advice amid worsening crisis

Sri Lanka has asked for  “advice” from the International Monetary Fund amid a worsening economic crisis, the finance minister said Wednesday, signalling Colombo could seek an international bailout.
3 February 2022, 18:00 PM

Private hiring slumps in US

US private companies shed jobs last month for the first time since December 2020 as the Omicron coronavirus variant again complicated business -- a potential harbinger of bad news for the upcoming government employment report.
3 February 2022, 18:00 PM

Turkey’s inflation hits 2-decade high

Turkey’s inflation hit a two-decade high near a whopping 50 per cent in January, official data showed Thursday, as a currency crisis decimated people’s purchasing power and complicated President Recep Tayyip Erdogan’s path to re-election.
3 February 2022, 18:00 PM

Saudi Arabia to invest $6.4b in future tech

Saudi Arabia has launched investments worth $6.4 billion in future technologies, the Saudi minister of communication and information technology said on Tuesday, as the kingdom races to diversify its economy from oil in the face of fierce regional competition.
2 February 2022, 18:00 PM

Consumption of palm oil on the rise

The consumption of palm oil in Bangladesh increased by 7 per cent in the last eight years to reach 13.5 lakh tonnes in 2021, according to findings revealed at a webinar.
2 February 2022, 18:00 PM

Sri Lanka gets $500m Indian loan to pay for oil

Sri Lanka was handed temporary relief from energy shortages and rolling blackouts on Wednesday with a $500 million loan from India to finance urgent oil purchases for the cash-strapped nation.
2 February 2022, 18:00 PM

Sri Lanka food inflation hits record 25pc

Food inflation in crisis-hit Sri Lanka hit a record 25 per cent in January, the statistics office said Tuesday, with crop failures and difficulties in financing imports leading to widespread shortages.
1 February 2022, 18:00 PM

Weak yen has merits and demerits

Japan’s top currency diplomat Masato Kanda said a weak yen has both merits and demerits for the economy due to the country’s changing export patterns and increasing reliance on imports.
1 February 2022, 18:00 PM

Mexico’s economy enters technical recession

Mexico’s economy contracted for a second straight quarter in the last three-month period of 2021, according to official data published on Monday, putting it in a technical recession and joining regional powerhouse Brazil, whose economy fell back into negative territory last year.
1 February 2022, 18:00 PM

Asian markets rise as traders buoyed by another Wall St rally

Asian markets rose in limited trade Tuesday following another strong lead from Wall Street fuelled by a rebound in tech firms, while comments from Federal Reserve officials eased concerns that it will embark on an aggressive phase of policy tightening.
1 February 2022, 18:00 PM

Japan’s factory output dips more than expected

Japan’s factory output shrank for the first time in three months in December as a decline in machinery production outweighed a small rise in autos, casting a cloud over the strength of the economic recovery.
31 January 2022, 18:00 PM

Fed could raise rates

The US Federal Reserve is not ruling out raising rates by half a percentage point if inflation remains high, Fed official Raphael Bostic said in an interview with the Financial Times.
31 January 2022, 18:00 PM

India sees GDP growth slowing to 8-8.5pc

India has forecast its economy will grow 8 per cent to 8.5 per cent for the fiscal year starting in April, down from 9.2 per cent projected in the current year, as it fights a spike in Covid-19 cases and rising inflationary pressure.
31 January 2022, 18:00 PM

Oil hovers near 7-year highs

Oil rose more than 1 per cent on Monday to the near 7-year highs hit in the previous session, while supply concerns and political tension in Eastern Europe and the Middle East put prices on track for their biggest monthly gain in almost a year.
31 January 2022, 18:00 PM