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Oil prices surge, stocks slump
Oil prices surged on Monday as OPEC+ kept to its plan to not boost output further, while US and European stocks slumped amid worries over inflation and higher interest rates.
5 October 2021, 18:00 PM
China property sector woes deepen
As investors were abuzz on Tuesday with cash-strapped China Evergrande Group’s possible sale of a stake in a unit to raise as much as $5 billion, more Chinese property developers grappled with ratings downgrades on worries about their ability to repay debt.
5 October 2021, 18:00 PM
New US-China trade plan leaves industry hungry for specifics
Having waited eight months for US Trade Representative Katherine Tai’s promised “top-to-bottom” policy review of trade with China, some US industries and experts were complaining over the plan’s lack of specifics on negotiations or timing.
5 October 2021, 18:00 PM
Germany’s next govt faces three big economic challenges
Chancellor Angela Merkel has steered Germany through many crises over the past 16 years, but she has also left behind a mixed legacy and failed to tackle some deep structural problems in Europe’s largest economy.
5 October 2021, 18:00 PM
Chinese developer Fantasia fails to make debt payments
Another Chinese homebuilder has hit financial trouble after it missed payments on debt obligations, adding to worries over the country’s property sector as embattled giant China Evergrande teeters on the brink of collapse.
5 October 2021, 18:00 PM
Shortages, inflation and slow growth fog UK economy
Britain’s economic bounce-back after coronavirus lockdowns is being hampered by problems in supply chains, a jump in inflation and the risk of a rise in unemployment, complicating the task for policymakers of steering the recovery.
5 October 2021, 18:00 PM
China risks slower growth without more market competition
China risks slower growth if it does not do enough to spur market competition by allowing the private sector to play a bigger role in the economy and greater two-way flow in cross-border investments, a report showed on Tuesday.
5 October 2021, 18:00 PM
Evergrande to raise $5b from property unit sale
China Evergrande will sell a majority stake in its property management business for more than $5 billion, Chinese media said on Monday, a deal which would be the largest asset sale yet at the debt-laden property developer if it goes ahead.
4 October 2021, 18:00 PM
UK to unveil new pandemic support for workers
Britain’s finance minister admitted Monday that ending a pandemic furlough scheme that kept millions employed would mean job losses as the government was set to announce new support for workers.
4 October 2021, 18:00 PM
Global natural gas price surge looms over US this winter
Regional natural gas markets in the United States are seeing prices for this winter surge along with global record highs - suggesting that the energy bills causing headaches in Europe and Asia will hit the world’s top gas producer before long.
4 October 2021, 18:00 PM
Opec+ likely to keep oil output policy unchanged
OPEC and its allies are likely to stick to their existing agreement to add 400,000 barrels per day (bpd) of oil to the market in November, three OPEC+ sources said on Monday, despite consumer pressure for more supply to cool a red hot market.
4 October 2021, 18:00 PM
World Bank, IMF face long-term damage after data rigging scandal
Regardless of whether IMF chief Kristalina Georgieva was to blame for changes to World Bank data in 2017 that benefited China, the scandal has dented the research reputations of both institutions, former staff, government officials and outside experts say.
4 October 2021, 18:00 PM
Energy costs add to emerging central banks’ inflation headache
Higher energy prices are fanning inflation in several emerging markets, testing the resolve of their central banks and risking stymieing growth in Hungary, Poland and the Czech Republic and more currency weakness in Turkey, analysts say.
4 October 2021, 18:00 PM
UK to look at Pandora Papers revelations
British finance minister Rishi Sunak said the country's tax officials would look at a leak of financial documents that was published by news organizations that allegedly tie world leaders to concealed wealth.
4 October 2021, 07:36 AM
Nigeria looks to revive ailing palm oil sector
Standing beside the piles of dark red palm fruits ready for crushing for their essence, Nigerian farmer Micah Ojo hopes to cash in on the government’s drive to revive the country’s once thriving palm oil business.
3 October 2021, 18:00 PM
Nigeria gets $400m in World Bank financing for Covid-19
Nigeria received approval for $400 million in funding from the World Bank on Friday to purchase and deploy Covid-19 vaccines, the bank said in a statement.
3 October 2021, 18:00 PM
Decade after Jobs’ death, has Apple traded magic for profit?
Ten years after Apple founder Steve Jobs’ death, the firm has grown into a colossus of devices and services that is the world’s most valuable company, but the tech legend’s diehard fans lament its lost aura of revolution.
3 October 2021, 18:00 PM
Vietnam’s commercial hub back in business after 3-month lockdown
Ho Chi Minh City on Friday lifted a stay-at-home order that had kept its nine million residents indoors for three months and devastated business in Vietnam’s economic hub.
2 October 2021, 18:00 PM
US, EU pledge joint action on tech issues, semiconductors, China
US and EU officials on Wednesday pledged to join forces to deal with a host of technology and trade issues to secure semiconductor supplies and counter China’s dominance.
30 September 2021, 18:00 PM
Dubai to open Expo, world’s biggest event since pandemic
The Covid-delayed Expo 2020 kicks off in Dubai on Thursday with an extravagant opening ceremony for what is expected to be the world’s biggest event since the start of the pandemic.
30 September 2021, 18:00 PM