US Democrats turn to billionaires to fund spending bill

US Democrats are expected to unveil a tax plan on Monday that would seek to raise hundreds of billions of dollars from the country’s roughly 700 billionaires to help pay for expanding the social safety net and tackling climate change.
25 October 2021, 18:00 PM

China aims to cut fossil energy use to below 20pc by 2060

China is targeting an ambitious clean energy goal of reducing fossil fuel use to under 20 per cent by 2060, according to an official plan published by state media on Sunday.
25 October 2021, 18:00 PM

Nigeria to launch digital currency

Nigeria will on Monday launch a digital currency, the eNaira, the central bank said, months after it barred banks and financial institutions from dealing in or facilitating transactions in cryptocurrencies.
24 October 2021, 18:00 PM

Malaysia lifts migrant worker ban

Malaysia will let foreign workers back into the country after an almost 16-month hiatus due to the Covid-19 pandemic, and allow some tourists back to its resort island of Langkawi, its prime minister said on Friday.
23 October 2021, 18:00 PM

New Zealand to make banks report climate impact

New Zealand passed a law Thursday forcing banks to reveal the impact of their investments on climate change, describing it as a world-first move to make the financial sector’s environmental record more transparent.
21 October 2021, 18:00 PM

Supply bottlenecks, labour shortages slow US growth: Fed

Supply bottlenecks and labor shortages have slowed US economic growth and contributed to a sharp rise in prices, the Federal Reserve said Wednesday.
21 October 2021, 18:00 PM

British govt borrowing improves ahead of budget

UK government borrowing fell by more than expected in September but remains elevated on Covid, official data showed Thursday ahead of next week’s budget announcement.
21 October 2021, 18:00 PM

US bans Malaysian firm’s gloves over forced labour

The United States has barred imports from a Malaysian latex glove maker over alleged labour abuses, the latest firm from the country to face such a ban.
21 October 2021, 18:00 PM

UN launches cash plan to prop up Afghan economy

The United Nations on Wednesday launched a funding programme aimed at preventing the Afghan economy from collapsing during the winter by getting cash flowing through the local economy again.
21 October 2021, 18:00 PM

Oil prices rise

Oil prices rose on Tuesday, recouping earlier losses, as falling temperatures in China revived concerns about its ability to meet heating demand needs amid power and coal shortages.
19 October 2021, 18:00 PM

Afghanistan’s economic collapse could prompt refugee crisis: IMF

Afghanistan’s economy is set to contract up to 30 per cent this year and this is likely to further fuel a refugee crisis that will impact neighbouring countries, Turkey and Europe, the International Monetary Fund said on Tuesday.
19 October 2021, 18:00 PM

No fear of inflation ‘runaway train’: IMF chief

Global finance officials are worried about rising inflation pressures but there it is little fear that it will become a  “runaway train,” IMF chief Kristalina Georgieva said Sunday.
18 October 2021, 18:00 PM

Tight US job market triggers strikes for more pay

Thousands of workers remain on strike across the United States demanding higher pay and better conditions despite Hollywood make-up artists and camera operators reaching a deal over the weekend to avoid a walkout, and the tight jobs market has only emboldened them.
18 October 2021, 18:00 PM

China’s GDP growth hits 1-year low

China’s economy grew at the slowest pace in a year in the third quarter, hurt by power shortages, supply bottlenecks and sporadic Covid-19 outbreaks and raising heat on policymakers amid rising jitters over the property sector.
18 October 2021, 18:00 PM

Fintech firm Square looking to build bitcoin mining system

Square Inc Chief Executive Officer Jack Dorsey said on Friday the fintech firm is looking to build a bitcoin mining system based on custom silicon and open source for individuals as well as businesses.
17 October 2021, 18:00 PM

Shekel surplus weighs down Palestinian economy

Palestinian businesses flush with too much Israeli cash: it may not be the most talked about aspect of the occupation, but experts warn it is a growing concern for the Palestinian economy.
17 October 2021, 18:00 PM

Boeing workers stage protest over US vaccine mandate

Waving signs like “coercion is not consent,” and “stop the mandate,” some 200 Boeing Company employees and others staged a protest on Friday over the planemaker’s Covid-19 vaccine requirement for US workers.
16 October 2021, 18:00 PM

EU to press ahead with emergency relief for energy prices

European Union leaders are set to press ahead with measures to shield consumers from record-high energy prices that have curtailed industrial production and hiked consumer bills.
16 October 2021, 18:00 PM

Food, rents boost US inflation

US consumer prices increased solidly in September as Americans paid more for food, rent and a range of other goods, putting pressure on the Biden administration to urgently resolve strained supply chains, which are hampering economic growth.
14 October 2021, 18:00 PM

China property shares pummelled by impact of Evergrande crisis

Shares of Chinese real estate firms slid on Thursday as investors fretted about a debt crisis rippling through developers including China Evergrande Group , a day after the sector was hit with fresh rating downgrades.
14 October 2021, 18:00 PM