ECB plots stimulus exit as inflation looms

European Central Bank policymakers were to gather on Thursday for a crunch meeting, as soaring inflation heaps pressure on the bank to wind down its stimulus just as a new coronavirus variant threatens to derail the recovery.
16 December 2021, 18:00 PM

China’s retail sales growth eases, factory output picks up

China’s retail sales grew slower than expected in November with consumers cautious as domestic coronavirus cases rose, official data showed Wednesday, but industrial output picked up after power shortages eased.
15 December 2021, 18:00 PM

China outbreak prompts major business shutdown

China’s economically important Zhejiang province wrestled on Tuesday with a Covid outbreak that has caused some districts to shut down businesses and left hundreds of thousands of people facing quarantine or other restrictions.
15 December 2021, 18:00 PM

Japan admits overstating some govt economic data for years

The Japanese government overstated construction orders data received from builders for years, Prime Minister Fumio Kishida said on Wednesday, an admission that could dent credibility of official statistics widely used by investors and economists.
15 December 2021, 18:00 PM

Preferential trade deal with Nepal soon

The government will sign a preferential trade agreement (PTA) with Nepal soon to boost trade between the two South Asian nations, Commerce Secretary Tapan Kanti Ghosh said yesterday.
14 December 2021, 18:00 PM

IEA sees more comfortable year for oil market in 2022

The Omicron coronavirus variant will slow the recovery in global demand for oil but the market will be “more comfortable” in 2022, the International Energy Agency said on Tuesday.
14 December 2021, 18:00 PM

ADB trims Asia growth forecasts

The Asian Development Bank warned Tuesday that the highly mutated Omicron coronavirus variant could have a  “substantial” economic impact, as it trimmed its 2021 and 2022 growth forecasts for developing Asia.
14 December 2021, 18:00 PM

Toyota boosts electric vehicle sales target

Toyota hiked its electric vehicle sales goal by 75 per cent on Tuesday, unveiling a more ambitious plan for the sector as part of efforts to drive down carbon emissions.
14 December 2021, 18:00 PM

India’s November retail inflation climbs to 4.91pc

India’s retail inflation accelerated in November, led by a rise in food prices, but remained within the medium-term target of the central bank, strengthening views that the bank could keep interest rates on hold at its next meeting in February.
14 December 2021, 18:00 PM

Omicron's impact: ADB trims growth forecasts for Asia

The Asian Development Bank warned Tuesday that the highly mutated Omicron coronavirus variant could have a "substantial" economic impact, as it trimmed its 2021 and 2022 growth forecasts for developing Asia.
14 December 2021, 07:05 AM

Canada may renew policy framework amid inflation worries

The Bank of  Canada was to renew its monetary policy framework on Monday,  leaving its inflation target unchanged at 2% as concern about the cost  of living rises and the COVID-19 outlook remains uncertain.
13 December 2021, 18:00 PM

Saudi Arabia sees first budget surplus since 2014

Saudi Arabia approved its 2022 budget on Sunday, projecting a surplus for the first time since oil prices collapsed in 2014.
13 December 2021, 18:00 PM

Afghan currency slides sharply

Afghanistan’s growing economic crisis deepened on Wednesday as the afghani currency fell to the hitherto unseen level of 125 to the dollar, less than a week after breaching 100, adding to growing pressure on prices of food and other staples.
13 December 2021, 18:00 PM

Taiwan’s energy security on the line with LNG referendum

Taiwanese voters will decide this Saturday on a new LNG terminal considered key for the chipmaking powerhouse to secure its energy supply but facing attacks from conservationists -- and from an opposition party eager to wrong-foot the government.
13 December 2021, 18:00 PM

Asia stocks steady after Wall St rally

Asia stocks held steady yesterday, despite a record-smashing lead from Wall Street, ahead of a week of major monetary policy announcements around the world.
13 December 2021, 18:00 PM

US expects $50b economic drag in 2022 due to floods

American businesses stand to lose more than 3 million days of operations from flooding in 2022 and will face worsening economic fallout in the coming decades as climate change fuels ever more extreme weather events, researchers said yesterday.
13 December 2021, 18:00 PM

Shipping costs: another danger for inflation-watchers to navigate

Much like the coronavirus pandemic, and the economic disruption that it has caused, a global shipping crisis looks set to go on delaying goods traffic and fuelling inflation well into 2023.
12 December 2021, 18:00 PM

IMF, 10 countries simulate cyberattack on global financial system

Israel on Thursday led a 10-country simulation of a major cyberattack on the global financial system in an attempt to increase cooperation that could help to minimise any potential damage to financial markets and banks.
12 December 2021, 18:00 PM

Malaysia charges Dyson supplier ATA with labour law violations

Malaysia has charged Dyson supplier ATA IMS with four violations of labour law on accommodation for workers as it investigates complaints of forced labour, authorities said on Saturday.
12 December 2021, 18:00 PM

Canada threatens trade action over Biden electric car plan

Canada on Friday threatened to impose sweeping tariffs on American goods and suspend parts of a landmark North American trade deal if Washington rewards electric cars made in US union shops, to the detriment of Canada’s auto sector.
12 December 2021, 18:00 PM