Yellen criticises China’s ‘punitive’ actions against US companies

US Treasury Secretary Janet Yellen called on Friday for market reforms in China and criticised its recent tough actions against US companies and mineral export controls, while China’s premier called on her to “meet China halfway” and put bilateral relations back on track.
8 July 2023, 18:00 PM

India’s fuel demand slips

India’s fuel demand eased 3.7 per cent in June month-on-month, government data showed on Friday, as monsoon rains restricted mobility in the world’s third-biggest oil consumer.
8 July 2023, 18:00 PM

Rupee logs worst week in seven

The Indian rupee ended at an over one-month low against the US dollar on Friday, and logged its worst week in seven on worries that the Federal Reserve will raise interest rates more than expected this year.
8 July 2023, 18:00 PM

Canada posts strong job gains

Canada’s economy added far more jobs than expected in June, data showed on Friday, a result analysts said probably seals the deal for another Bank of Canada (BoC) interest rate hike next week.
8 July 2023, 18:00 PM

Turkey expects $10b in Gulf investments

Turkey expects Gulf countries to make direct investments of about $10 billion initially in domestic assets as part of President Tayyip Erdogan’s trip to the region in two weeks, according to two senior Turkish officials.
8 July 2023, 18:00 PM

Accelerate rate rises for savers

British regulator the Financial Conduct Authority (FCA) said on Thursday that banks need to accelerate rate rises for savers, but said it was not up to the watchdog to dictate pricing.
8 July 2023, 18:00 PM

Oil prices up 3% to 9-week high

Oil prices climbed about 3 per cent to a nine-week high on Friday as supply concerns and technical buying outweighed fears that further interest rate hikes could slow economic growth and reduce demand for oil.
8 July 2023, 18:00 PM

Hiring in US slows

Hiring in the United States slowed in June, the Labor Department said Friday, providing a much-needed signal that the American economy is cooling ahead of another interest rate decision later this month.
8 July 2023, 18:00 PM

Meta’s ‘friendly’ Threads collides with unfriendly internet

Mark Zuckerberg has pitched Meta’s Twitter copycat app, Threads, as a “friendly” refuge for public discourse online, framing it in sharp distinction to the more adversarial Twitter which is owned by billionaire Elon Musk.
8 July 2023, 18:00 PM

Global companies hunting for stable suppliers

China’s decision this week to restrict exports of some strategic metals has prompted more companies to re-think their reliance on the world’s No. 2 economy at a time when mounting geopolitical tensions have fed fears that more curbs could be coming.
6 July 2023, 18:00 PM

Global rice prices hit 11-year high

Global rice prices, now at their highest in 11 years, are set to rally further after India moved to boost payments to farmers, just as El Nino threatens yields in key producers and alternative staples get costlier for poor Asians and Africans.
6 July 2023, 11:05 AM

Euro zone consumers see lower inflation ahead

Euro zone consumers in May cut their inflation expectations again for the following 12 months, although they still saw prices growing faster than the European Central Bank (ECB) would like for years to come, a new ECB poll showed on Wednesday.
5 July 2023, 18:00 PM

‘Oil output cuts should be enough to balance market’

Additional oil output and export cuts made by Saudi Arabia and Russia earlier this week should be enough to help balance the oil market, United Arab Emirates’ energy minister Suhail Al Mazrouei told reporters on Wednesday.
5 July 2023, 18:00 PM

China’s services activity softens

China’s services activity expanded at the slowest pace in five months in June, a private-sector survey showed on Wednesday, as weakening demand weighed on post-pandemic recovery momentum.
5 July 2023, 18:00 PM

Turkey’s inflation slows to 38.2%

Turkey’s annual inflation rate slowed to 38.2 per cent in June, official data showed Wednesday, although economists warned that this may be a low point for the year.
5 July 2023, 18:00 PM

Russian economy faring better than expected: Putin

President Vladimir Putin said late on Tuesday that the Russian economy was performing better than expected after Prime Minister Mikhail Mishustin reported to him that gross domestic product growth and inflation have been surprisingly positive.
5 July 2023, 18:00 PM

Chipmaking export curbs just a start

China’s export controls on metals used in making semiconductors are “just a start”, an influential Chinese trade policy adviser said on Wednesday, as it ramps up a tech fight with the US days before US Treasury Secretary Janet Yellen visits Beijing.
5 July 2023, 18:00 PM

EU concerned over China export controls

The European Commission expressed concern on Tuesday over China’s planned curbs on exports of strategic metals widely used in the semiconductor industry and doubt that the move was related to security.
4 July 2023, 18:00 PM

Falling exports in May add to German woes

German exports dipped in May after a small rebound in April, official data showed Tuesday, adding to a gloomier outlook for Europe’s biggest economy.
4 July 2023, 18:00 PM

Oil prices go up amid supply cuts

Oil prices ticked higher on Tuesday as markets weighed supply cuts for August by top exporters Saudi Arabia and Russia against a weak global economic outlook.
4 July 2023, 18:00 PM