Apple to launch first online store in Vietnam

Apple will launch its first online store in Vietnam next week, the company said Friday, hoping to cash in on the country’s young and tech-savvy population.
13 May 2023, 18:00 PM

UK economy ekes out growth in Q1

Britain’s economy grew 0.1 per cent over the first quarter despite weakening in March, official data revealed Friday, as output continues to be hit by high inflation and strikes.
13 May 2023, 18:00 PM

Fed policy on right track, but inflation still too high: officials

The Federal Reserve is getting interest rates closer to where they need to be to win the battle against inflation, a pair of US central bankers said on Friday, though neither gave a clear signal on whether they feel they have reached that point.
13 May 2023, 18:00 PM

EU ministers back plan to reduce economic reliance on China

European Union ministers on Friday backed reducing the bloc’s economic dependence on China but will now have to figure out how to make that a reality, foreign policy chief Josep Borrell said.
13 May 2023, 18:00 PM

G7 finance chiefs move to diversify supply chains

The G7 plans to launch a partnership scheme to diversify supply chains this year, the group’s finance ministers said Saturday following talks in Japan ahead of a major summit next week.
13 May 2023, 18:00 PM

EU, US to pledge joint action over China concerns

Washington and the EU will pledge joint action to tackle concerns focused on China about non-market practices and coordinate their export controls on semiconductors and other goods at a meeting this month, a draft statement showed.
13 May 2023, 18:00 PM

Europe set for two new gigafactories

Two electric vehicle battery makers plan to spend around 10 billion euros ($11 billion) on factories in Europe, they said on Friday, after Europe loosened state aid rules for green industry projects in a bid to win the subsidy race with the US.
13 May 2023, 18:00 PM

China inflation rises, but slowly

China’s inflation rate edged up 0.1 per cent year-on-year in April, the slowest rate recorded since 2021, official figures showed Thursday, signalling a weak recovery after lifting pandemic curbs.
11 May 2023, 18:00 PM

US default would threaten global economy: Yellen

US Treasury Secretary Janet Yellen on Thursday urged Congress to raise the $31.4 trillion federal debt limit and avert an unprecedented default that would trigger a global economic downturn and risk undermining US global economic leadership.
11 May 2023, 18:00 PM

Gold pulls back

Gold prices eased on Wednesday, after rising in the previous two sessions, as investors positioned for April US inflation data, which could have a bearing on the Federal Reserve’s interest rate policy.
10 May 2023, 18:00 PM

US inflation eases but price pressures remain

Consumer inflation in the United States nudged down only slightly in April, the Labor Department said on Wednesday, despite strong efforts to cool the economy and rein in price increases.
10 May 2023, 18:00 PM

Panasonic sees record profit

Japan’s Panasonic Holdings Corp on Wednesday said it expects net profit to rise to a record high this year on robust auto battery sales and a hefty tax credit in the United States.
10 May 2023, 18:00 PM

Chinese company earnings reveal lopsided economic recovery

People in China splashed out on dining, travel and luxury goods after emerging from three years of pandemic restrictions but are still not spending freely on routine consumer items, if first quarter corporate results are an indication.
10 May 2023, 18:00 PM

India inflation likely hit 18-month low in April

India’s consumer inflation likely cooled to an 18-month low in April as rises in food and fuel prices moderated, keeping it below the Reserve Bank of India’s upper tolerance limit for the second consecutive month, a Reuters poll of economists found.
10 May 2023, 18:00 PM

Oil falls on rise in US inventories

Oil prices fell on Wednesday, ending a three-day rally as an unexpected rise in US oil inventories sparked demand concerns and investors awaited inflation data for a steer on US interest rates.
10 May 2023, 18:00 PM

Rupee hits over two-week low

The Indian rupee fell to a more than two-week low on Tuesday on the back of dollar purchases by importers and short covering by traders, with a rise in US yields also adding to the pressure.
9 May 2023, 18:00 PM

AI could replace 80% of jobs ‘in next few years’: expert

Artificial intelligence could replace 80 per cent of human jobs in the coming years -- but that’s a good thing, says US-Brazilian researcher Ben Goertzel, a leading AI guru.
9 May 2023, 18:00 PM

iPhone maker buys huge site in India tech hub

Taiwanese electronics giant Foxconn has bought a huge tract of land on the outskirts of Indian tech hub Bengaluru, the key Apple supplier said in a filing Tuesday as it looks to diversify production away from China.
9 May 2023, 18:00 PM

Lower oil prices bring down Aramco’s profit

Saudi oil giant Aramco’s first quarter net profit dropped 19 per cent from a year earlier to 119.54 billion riyals ($31.88 billion), it said on Tuesday, due to lower crude prices.
9 May 2023, 18:00 PM

India extends $1b credit line for Sri Lanka by a year

India has extended a $1 billion credit line for Sri Lanka by one year, a Sri Lankan official told Reuters on Tuesday, giving the crisis-hit country a backup funds to pay for essential imports.
9 May 2023, 18:00 PM