UK inflation edges down but food prices surge

British inflation eased last month after hitting a 41-year high in October, offering some comfort to the Bank of England, but the pressure on households remained intense as food and drink prices rose at the fastest pace since 1977.
18 January 2023, 18:00 PM

China warns of ‘spillover’ from Western rate hikes

China’s vice premier warned Tuesday about the impact of  “spillover effects” of Western interest rate hikes on emerging economies.
17 January 2023, 18:00 PM

Nigeria keen to increase trade with Bangladesh

Nigeria is interested in increasing trade and investment relations with Bangladesh, said a visiting delegation of the African country.
17 January 2023, 18:00 PM

China’s reopening fuels global growth optimism: experts

China’s reopening from pandemic restrictions could drive global growth beyond expectations and help avoid a broader recession even as some of the world’s largest economies struggle to overcome a downturn, top finance officials at the World Economic Forum said.
17 January 2023, 18:00 PM

Shift from China to benefit Bangladesh

Bangladesh is among the countries that may benefit from global trends such as the diversification of manufacturing supply chains away from China, according to a report of the World Economic Forum (WEF).    
17 January 2023, 18:00 PM

UK pay growth speeds up again

Pay growth in Britain - which is being closely watched by the Bank of England as it gauges how much higher to raise interest rates - picked up more pace in the three months to November, official data showed on Tuesday.
17 January 2023, 18:00 PM

Singapore expects full tourism recovery by 2024

Singapore’s international arrivals beat forecasts in 2022, paving the way for its tourism sector to recover to pre-pandemic levels by 2024, its tourism authority said on Tuesday.
17 January 2023, 18:00 PM

Dollar on the back foot

The dollar started the week on the back foot, hitting a seven-month low against a basket of major peers in Asian trade before steadying, with the yen in particular focus due to traders’ bets the Bank of Japan will tweak its yield control policy further.
16 January 2023, 18:00 PM

Job growth in South Asia may halve this year: ILO

The growth of jobs in South Asia is expected to nearly halve to 1.6 per cent in 2023 from 3 per cent a year ago, according to a new International Labour Organization (ILO) report released yesterday. 
16 January 2023, 18:00 PM

Oil prices drop

Oil prices held near this year’s highs on Monday as easing Covid restrictions in China raised expectations for a demand recovery in the world’s top crude importer.
16 January 2023, 18:00 PM

Most CEOs fear fall in global economic growth

Some 73 per cent of chief executive officers (CEOs) believe global economic growth will decline over the next 12 months, according to the PwC’s annual global CEO survey released yesterday.
16 January 2023, 18:00 PM

Richest 1% grab two-thirds of new $42tr wealth: Oxfam

The top 1 per cent of earners grabbed nearly two-thirds of all the new wealth, or $26 trillion of the $42 trillion, generated since 2020, according to a report by Oxfam International released yesterday.
16 January 2023, 18:00 PM

Big US banks gird for ‘mild recession’

Major US banks reported mixed fourth-quarter results Friday as executives pointed to the rising odds of a  “mild recession,” with inflation and interest rate hikes challenging households and businesses.
15 January 2023, 18:00 PM

Rupee notches best week in 2 months

The Indian rupee strengthened on Friday, posting its biggest weekly gain in two months, as benign US inflation reading reinforced expectations of a smaller rate hike by the Federal Reserve next month.
15 January 2023, 18:00 PM

China’s 2022 growth seen as its lowest in 40 years

China’s economic growth for 2022 is expected to have been among its weakest in four decades after the twin crises of the pandemic and property woes, analysts said ahead of Tuesday’s GDP announcement.
15 January 2023, 18:00 PM

Qatar, UAE energy ministers say gas will be needed for long time

The world will need natural gas for a long time and more investment is required to ensure supply security and affordable prices during the global energy transition, the energy ministers of Qatar and the United Arab Emirates said on Saturday.
14 January 2023, 18:00 PM

India’s forex reserves slip

India’s foreign exchange reserves fell to $561.58 billion in the week through January 6, the Reserve Bank of India’s (RBI) statistical supplement showed on Friday.
14 January 2023, 18:00 PM

US eyes ‘extraordinary measures’ to avoid default

The US Treasury Department said Friday it will likely begin  “extraordinary measures” next week to prevent a default on government debt, setting up a high-stakes showdown in Congress over raising the nation’s borrowing limit.
14 January 2023, 18:00 PM

China imports, exports plunge in December

China’s exports in December fell at their fastest pace since 2020, according to official data Friday, owing to a drop in global demand and after health restrictions hit economic activity at home.
14 January 2023, 18:00 PM

World enters new age of clean energy manufacturing: IEA

The world is at the “dawn of a new industrial age” of clean energy technology manufacturing that will triple in value by 2030 and create millions of jobs, the International Energy Agency said on Thursday.
12 January 2023, 18:00 PM