Gold breaks $2,600 barrier

Gold soared above the $2,600 level on Friday for the first time, extending a rally boosted by bets for further US interest rate cuts, and rising tensions in the Middle East.
21 September 2024, 18:00 PM

Rate cut could lift US consumer spirits before elections

The US Federal Reserve’s decision to cut interest rates by half a percentage point gives consumers a much-needed psychological boost ahead of November’s presidential election.
21 September 2024, 18:00 PM

After jumbo Fed rate cut, market hopes ride on US soft landing

One of the most consequential Federal Reserve meetings in recent history has put investors’ focus squarely on one question: whether the central bank has kicked off its rate cutting cycle in time to keep the economy from slowing too rapidly.
19 September 2024, 05:52 AM

Fed unveils oversized rate cut as it gains 'greater confidence' about inflation

The move marks a significant pivot in US monetary policy and a recognition of the Fed's growing comfort with inflation continuing to ease to its target. It is currently about half a percentage point above it.
19 September 2024, 04:45 AM

ECB to deliver fresh rate cut as inflation cools

The European Central Bank is expected to cut interest rates again this week as inflation drifts back down towards its two-percent target, but policymakers will likely stay tight-lipped on future moves
9 September 2024, 05:12 AM

China seeking WTO talks with Canada over EV, steel tariffs

China’s commerce ministry said on Friday Beijing had referred Canada to the World Trade Organization (WTO) over Ottawa’s new restrictions on imports of Chinese electric vehicles, steel and aluminium.
7 September 2024, 18:00 PM

China manufacturing contracts for fourth straight month

Chinese manufacturing contracted for a fourth consecutive month in August, official data showed Saturday, a worse-than-expected result reflecting the world’s second-largest economy’s struggle to recover.
1 September 2024, 18:00 PM

Russia payment hurdles with China partners intensify

Some Russian companies are facing growing delays and rising costs on payments with trading partners in China, leaving transactions worth tens of billions of yuan in limbo, Russian sources with direct knowledge of the issue told Reuters.
1 September 2024, 18:00 PM

Sri Lanka inflation drops to lowest point since crisis

Crisis-hit Sri Lanka’s annual inflation dipped sharply to 0.5 percent in August, the lowest year-on-year rate since the country declared bankruptcy in April 2022, official data showed Friday.
31 August 2024, 18:00 PM

Apple in talks to invest in OpenAI

iPhone juggernaut Apple is in talks to invest in OpenAI, the creator of ChatGPT and the biggest name in generative artificial intelligence, a news report said Thursday.
31 August 2024, 18:00 PM

Bank of Japan governor flags more rate hikes

Bank of Japan governor Kazuo Ueda indicated Friday that officials could hike interest rates again if inflation and the economy performed as expected, weeks after turmoil caused by a surprise increase earlier this month.
24 August 2024, 18:00 PM

PwC China faces 6-month business ban

Chinese regulators will likely order business suspension for a big part of PricewaterhouseCoopers’ auditing unit in mainland China for six months, as part of punishment for its work on troubled property developer Evergrande, five sources said.
22 August 2024, 18:00 PM

King dollar’s crown is slipping

If the pressure on global markets from the tumult at the start of the month has abated, nobody told the dollar.
22 August 2024, 18:00 PM

China, Saudi Arabia top buyers of Russian fuel oil

China and Saudi Arabia were the top destinations for Russian seaborne fuel oil and vacuum gasoil (VGO) exports in July, traders said and LSEG data showed on Friday.
17 August 2024, 18:00 PM

China youth unemployment jumped to 17.1% in July

Youth unemployment in China ticked up to 17.1 percent in July, official figures showed, the highest level this year as the world’s second-largest economy faces mounting headwinds.
17 August 2024, 18:00 PM

Malaysia's palm oil stocks hit 4-month low in July as exports surge

The fall in stocks in Malaysia, the world's second-largest palm oil producer after Indonesia, would support benchmark futures <FCPOc3>, which are trading near their lowest level in seven months.
12 August 2024, 08:49 AM

Billions in dollar and euro notes reach Russia despite sanctions

China's yuan has overtaken the greenback to become the most traded foreign currency in Moscow, although significant payment problems persist.
12 August 2024, 08:46 AM

Hindenburg alleges India market regulator chief held stake in offshore funds used by Adani Group

Adani Group has previously denied these allegations, and an email query sent to Adani Group was not immediately answered.
11 August 2024, 03:59 AM

China launches appeal at WTO over EU electric vehicle tariffs

Beijing said Friday it had filed an appeal with the World Trade Organization over the European Union’s imposition of additional tariffs on imports of electric vehicles from China.
10 August 2024, 18:00 PM

US keeps Vietnam as non-market economy

The US Commerce Department announced on Friday it will continue to classify Vietnam as a non-market economy country, a decision disappointing to Hanoi, which the US has been wooing in its efforts to push back against China.
3 August 2024, 18:00 PM