Oil inventory drops set stage for higher prices

Oil inventories are beginning to fall in some regions as demand outpaces supply constrained by deep production cuts from Opec leader Saudi Arabia, providing support for prices which are expected to rise in coming months.
31 July 2023, 18:00 PM

EU, Philippines agree to relaunch free trade talks

The European Union and the Philippines will restart negotiations on a free-trade agreement as they seek to accelerate “a new era of cooperation”, European Commission President Ursula von der Leyen said Monday.
31 July 2023, 18:00 PM

Inter-ministerial meeting today to discuss RCEP duty benefit

Bangladesh is preparing to join the Regional Comprehensive Economic Partnership (RCEP) in a bid to retain duty benefits after making the United Nations status graduation from a least developed country (LDC) to a developing one in 2026.
31 July 2023, 18:00 PM

Inter-ministerial meeting today to discuss RCEP duty benefit

Bangladesh is preparing to join the Regional Comprehensive Economic Partnership (RCEP) in a bid to retain duty benefits after making the United Nations status graduation from a least developed country (LDC) to a developing one in 2026.
31 July 2023, 18:00 PM

Eurozone economy rebounds as inflation slows

Economic growth in the eurozone rebounded in the second quarter, data showed Monday, but concerns remain over inflation that is slowing yet still stubbornly high, and over stagnation in the German economy.
31 July 2023, 18:00 PM

China’s factory, services sectors show weakness

China’s manufacturing activity fell for a fourth straight month in July while the services and construction sectors teetered on the brink of contraction, official surveys showed on Monday, threatening growth prospects for the third quarter.
31 July 2023, 18:00 PM

Walmart buys out $1.4 billion Tiger Global stake in India's Flipkart: WSJ

A Walmart spokesperson confirmed the transaction in an emailed response to Reuters but did not comment on financial details of the deal.
31 July 2023, 03:50 AM

Key US inflation gauge cools further

A key indicator of US inflation cooled in June to the lowest annual rate in over two years, although this remains above the central bank’s target, according to government data released Friday.
30 July 2023, 18:00 PM

US chipmaker to invest $400m in India by 2028

US chipmaker Advanced Micro Devices said on Friday it will invest around $400 million in India over the next five years and will build its largest design center in the tech hub of Bengaluru.
30 July 2023, 18:00 PM

Oil posts fifth week of gains on signals of tighter supply

Oil prices rose on Friday and notched a fifth straight week of gains as investors were optimistic that healthy demand and supply cuts will keep prices buoyant.
30 July 2023, 06:17 AM

Obscure traders ship half of Russia’s oil exports to India, China

A Liberian-flagged oil tanker set sail in May from Russia’s Ust-Luga port carrying crude on behalf of a little-known trading company based in Hong Kong. Before the ship had even reached its destination in India, the cargo changed hands.
27 July 2023, 18:00 PM

As Russian oil crosses G7's price cap, US eyes soft enforcement

The Biden administration is poised to increase outreach to western trading houses, insurers and tanker owners to remind them to abide by the Group of Seven's price cap on Russian oil as the crude trades over that level, sources and experts said.
27 July 2023, 09:01 AM

Samsung to extend production cuts after $7 bln chip loss in H1

Samsung Electronics on Thursday said the worst is over for the global memory chip market but announced plans to extend production cuts because a demand recovery is largely constrained to high-end chips used in artificial intelligence.
27 July 2023, 07:00 AM

China’s consumer sentiment down

Consumer companies and economists have said sentiment in China is slower than expected, but that’s not stopping them from buying more condoms, Durex maker Reckitt said on Wednesday.
26 July 2023, 18:00 PM

Fed poised to hike rates as markets anticipate inflation endgame

The Federal Reserve is expected to raise interest rates by a quarter of a percentage point on Wednesday, marking the 11th hike in the US. central bank's past 12 policy meetings and possibly a last move in its aggressive battle to tame inflation.
26 July 2023, 07:14 AM

IMF raises 2023 global economic growth forecast

The International Monetary Fund on Tuesday raised its 2023 global growth estimates slightly given resilient economic activity in the first quarter, but warned that persistent challenges were dampening the medium-term outlook.
25 July 2023, 18:00 PM

India to face apple crunch as heavy rain hits production

India’s apple production is expected to nearly halve this year after heavy rains and flash floods wiped out about $122 million worth of fruit in the main producing Himalayan region, officials and farmer unions said.
25 July 2023, 18:00 PM

Saudi oil exports down 40%

Saudi oil exports fell almost 40 per cent in May from the same period a year ago, latest government data released on Tuesday showed, weighing on overall total exports, amid an extension of voluntary production cuts and lower oil prices.
25 July 2023, 18:00 PM

Oil prices rise

Oil prices rose to fresh three-month highs on Tuesday, as signs of tighter supplies and pledges by Chinese authorities to shore up the world’s second-biggest economy lifted sentiment.
25 July 2023, 18:00 PM

China state banks selling USD to prop up yuan

China’s major state-owned banks were seen selling US dollars to buy yuan in both onshore and offshore spot markets in early Asian trade on Tuesday, three people with direct knowledge of the matter said, moves aimed at supporting the Chinese currency.
25 July 2023, 18:00 PM