Iran’s oil exports hit 5-year highs

Iran’s crude exports and oil output have hit new highs in 2023 despite US sanctions, consultants, shipping data and a source familiar with the matter, adding to global supply when other producers are limiting output.
18 June 2023, 18:00 PM

Boeing boosts 20-year outlook for planes

US planemaker Boeing slightly raised its annual 20-year forecast for new jetliner deliveries, propelled by the strength of the narrowbody market fueled by demand from low-cost carriers.
18 June 2023, 18:00 PM

Yen sags to 15-year low vs euro

The yen plunged to a 15-year low against the euro on Friday after the Bank of Japan (BOJ) kept its ultra-low interest rate policy and forecast that inflation will slow later this year, in contrast with the European Central Bank’s (ECB) rate hike on Thursday.
18 June 2023, 18:00 PM

German economy still struggling

The German economy is set to shrink in 2023 after a weak start to the year and as consumers continue to rein in spending because of stubbornly high inflation, Bundesbank president Joachim Nagel said Friday.
17 June 2023, 18:00 PM

India’s import jump signals stable economy

A sequential increase in merchandise imports in May that led to the trade deficit widening to a five-month high signalled a stable local economy, economists said.
17 June 2023, 18:00 PM

US business titans flock to China despite fraying ties

From Elon Musk to Bill Gates and Apple’s Tim Cook, some of the United States’ biggest business titans have headed to Beijing, seemingly defying the barrage of doomsayer narratives around the US-China trade war.
17 June 2023, 18:00 PM

Intel to invest $4.6b in Poland chip site

US chip giant Intel will invest up to $4.6 billion to build a new site in Poland, creating around 2,000 jobs, the company said Friday.
17 June 2023, 18:00 PM

Edison Real Estate teams up with Eastern Bank

Edison Real Estate Limited has recently signed a memorandum of understanding (MoU) with Eastern Bank Limited. 
17 June 2023, 18:00 PM

India weighs barter trade with Egypt

India is weighing a proposal to begin barter trade in goods like fertiliser and gas with Egypt as part of a wider deal that could see New Delhi extending a credit line worth several billion dollars to Cairo, sources told Reuters.
17 June 2023, 18:00 PM

Russian oil revenues down nearly 50% on price cap: US

Russian government oil revenues plunged nearly 50 percent in the first five months this year, US Deputy Treasury Secretary Wally Adeyemo said Thursday, six months since a price ceiling was enacted.
17 June 2023, 18:00 PM

Power crisis hits Vietnam’s firms, foreign investors

An intensely hot summer and unprecedented drought are straining energy supplies in northern Vietnam, prompting rolling blackouts and sudden power outages that have led to  “uncountable” losses among local firms and foreign manufacturers.
17 June 2023, 18:00 PM

Sri Lanka’s economy shrinks 11.5% in Q1

Sri Lanka’s economy shrank 11.5 per cent in the first three months of 2023, official data showed on Thursday, as the country remained in the grip of its worst financial crisis in decades.
15 June 2023, 18:00 PM

Tumbling exports feed worker unrest in China

Strikes at Chinese factories have surged to a seven-year high and are expected to become more frequent as weak global demand forces exporters to cut workers’ pay and shut down plants, one rights group and economists say.
15 June 2023, 18:00 PM

ECB hikes rates to 22-year high

The European Central Bank hiked interest rates to a 22-year high Thursday and said another increase in July was “very likely”, as it pushed ahead with its fight against inflation despite a darkening eurozone economy.
15 June 2023, 18:00 PM

Dollar sags before inflation data

The dollar fell slightly on Tuesday as investors awaited US inflation data, while China’s yuan slipped to a six-month low after the central bank lowered a short-term lending rate to boost the economy.
13 June 2023, 18:00 PM

Fossil fuel companies’ net zero plans largely meaningless: report

The number of fossil fuel companies setting net-zero emissions targets has risen sharply over the past year, but most fail to address key concerns, making them “largely meaningless”, a report showed on Monday.
13 June 2023, 18:00 PM

German investor morale improves

German investor morale improved unexpectedly in June, the ZEW economic research institute said on Tuesday, but warned of persistent headwinds as export-focused sectors struggled with a weak global economy.
13 June 2023, 18:00 PM

India may tighten norms for banks’ unsecured lending

The Reserve Bank of India (RBI) is looking to tighten scrutiny on the unsecured lending portfolios of banks amid the growing risk of potential defaults, four banking sources told Reuters.
13 June 2023, 18:00 PM

Europe takes lead over US on crypto regulation

Born out of the desire to create a decentralised currency not controlled by a government, the crypto movement has long resisted regulation.
13 June 2023, 18:00 PM

Oil prices tick up

Oil prices rose on Tuesday on apparent bargain hunting, recovering some ground from the previous day’s plunge.
13 June 2023, 18:00 PM