Chinese delivery riders on the edge

Handing over a piping hot meal at exactly the time promised, Chinese food delivery driver Zhuang Zhenhua triumphantly tapped his job as complete through the Meituan app -- and was immediately fined half of his earnings.
7 November 2021, 18:00 PM

China’s forex reserves rise for first time since July

China’s foreign exchange reserves in October rose on a monthly basis for the first time since July, official data showed on Sunday, as the dollar slipped against a basket of other major currencies.
7 November 2021, 18:00 PM

China’s trade surplus with US stands at $40.75b

China’s trade surplus with the United States was $40.75 billion in October, Reuters calculations based on customs data showed on Sunday, down from $42 billion in September. For the first ten months of the year, the surplus was $320.67 billion.
7 November 2021, 18:00 PM

US Democrats pass $1t infrastructure bill

After a daylong standoff, Democrats set aside divisions between progressives and centrists to pass a $1 trillion package of highway, broadband and other infrastructure improvement, sending it on to President Joe Biden to sign into law.
6 November 2021, 18:00 PM

US economy adds 531,000 jobs in October: govt

The US economy added 531,000 jobs last month and the unemployment rate dropped to 4.6 per cent, the government reported Friday, a better-than-expected result indicating hiring is resurging as Covid-19 infections decline.
6 November 2021, 18:00 PM

Shortages hit French, German industrial output

Industrial output fell in September in both France and Germany as delays in receiving materials hampered production, data released Friday showed.
6 November 2021, 18:00 PM

Strong US services sector, private payrolls boost economy

A measure of US services industry activity surged to a record high in October likely as declining Covid-19 cases boosted demand, but businesses remained burdened by snarled supply chains and the resulting exorbitant prices.
4 November 2021, 18:00 PM

Long-dated euro zone yields up

Long-dated euro zone bond yields edged higher on Thursday with the market predicting that the Bank of England will be the first major central bank to hike rates since the onset of the Covid-19 crisis when it meets later in the day.
4 November 2021, 18:00 PM

Fed pulls back on stimulus

The Federal Reserve will begin to slow its stimulus bond purchases this month as the US economy makes a solid recovery from the pandemic, but the central bank will be patient before raising interest rates, Fed Chair Jerome Powell said Wednesday.
4 November 2021, 18:00 PM

China’s daily coal output near annual high

China’s daily coal output hit 11.67 million tonnes on November 2, rising around one million tonnes from early October, close to a record high this year amid a raft of measures to ramp up production, according to the country’s state planner.
4 November 2021, 18:00 PM

Oil-rich UAE to burn waste to make power

With rubbish piling up in the desert, the United Arab Emirates has found a new way to get rid of its trash -- incinerators that will turn it into electricity.
4 November 2021, 18:00 PM

South Africa to get $8.5b from US, EU and UK to speed up shift from coal

The United States joined Britain, France, Germany and the European Union on Tuesday in a multi-billion dollar partnership to help South Africa finance a quicker transition from coal, that will provide a model for other countries.
3 November 2021, 18:00 PM

Taliban bans Afghans from using foreign currencies

Afghanistan’s Taliban government announced a ban on the use of foreign currencies on Tuesday, threatening further disruption to an already ailing economy.
3 November 2021, 18:00 PM

China sets target for coal use at power plants by 2025

China plans to reduce average coal consumption during electricity generation at power plants to improve energy efficiency and lower greenhouse gas emissions.
3 November 2021, 18:00 PM

UK, India plan to connect world’s green power grids

Britain and India introduced a plan on Tuesday to improve connections between the world’s electricity power grids to accelerate the transition to greener energy.
3 November 2021, 18:00 PM

Japan to shorten quarantine for inbound business travellers

Japan’s government plans to shorten Covid-19 quarantine periods for inbound business travellers from 10 days to 3, public broadcaster NHK reported on Tuesday.
2 November 2021, 18:00 PM

Greenwashing or genuine?: behind big businesses’ climate promises

As warnings have intensified about the massive damage that climate change will have on the world in the coming decades, big businesses have started to make commitments to reduce carbon emissions.
2 November 2021, 18:00 PM

Amazon-backed EV startup aims for valuation above $50b

Rivian Automotive, an Amazon-backed electric vehicle startup, said Monday it is targeting a valuation of more than $50 billion.
2 November 2021, 18:00 PM

BP boosts share buyback as profit surges

BP added more than a billion dollars to its share buyback programme on Tuesday as it likened itself to a “cash machine” benefiting from higher oil and gas prices and a strong trading performance in the third quarter.
2 November 2021, 18:00 PM

Biden sees ‘incredible’ economic upside in climate fight

US President Joe Biden told the COP26 climate summit Monday that the massive response needed to stop the climate crisis should be seen as an opportunity for the world’s economies.
2 November 2021, 18:00 PM