Alibaba plans $1b investment in Turkey

Chinese e-commerce giant Alibaba Group Holding Ltd is planning a logistics hub at Istanbul Airport and a data centre near the Turkish capital Ankara with an investment of more than $1 billion, its president, Michael Evans, was cited as saying.
8 January 2023, 18:00 PM

US trade deficit narrows to smallest since late 2020

The US trade deficit narrowed more than anticipated in November on a fall in imports, government figures showed on Thursday, with drops seen in pharmaceuticals and household goods.
8 January 2023, 18:00 PM

China foreign exchange reserves rise to $3.13tr

China’s foreign exchange reserves rose in December, official data showed on Saturday, as the dollar fell against other major currencies.
8 January 2023, 18:00 PM

Auto industry races into metaverse at US tech show

Allowing the driver of an autonomous vehicle to watch a movie, a dealer to sell automobiles from a  “virtual” car lot, or an engineer to simulate how a new part fits: the auto industry is getting a tantalizing taste of the metaverse at the huge CES technology show.
8 January 2023, 18:00 PM

Eurozone inflation falls for second month

The eurozone’s annual inflation rate fell for a second month in a row, to 9.2 percent in December, driven by easing energy prices, official data showed Friday, bringing some relief to Europe in the new year.
7 January 2023, 18:00 PM

Economy sentiment in euro zone rises

Euro zone economic sentiment improved in December for the first time since the start of the war in Ukraine, European Commission data showed on Friday, with more optimism across all sectors of the economy and a sharp drop in inflation expectations.
7 January 2023, 18:00 PM

German factory orders plunge

German industrial orders fell sharply in November to hit their lowest level in more than two years, official data showed on Friday, as the war in Ukraine took a toll.
7 January 2023, 18:00 PM

Samsung says profits to plunge to 8-year low

Samsung Electronics said Friday it expected its fourth-quarter operating profits to plunge 69 percent to an eight-year low as the global downturn hammers demand for memory chips and smartphones.
7 January 2023, 18:00 PM

US job gains robust in Dec

US job gains exceeded expectations in December while unemployment ticked down, a closely-watched government report said Friday, in a sign the labor market remains hotter than hoped by policymakers seeking to lower inflation.
7 January 2023, 18:00 PM

India GDP growth to slow to 7% on global headwinds

India’s economic growth will slow to 7.0 percent this financial year, according to official estimates released Friday, as weaker global demand and high inflation weigh on the world’s fifth-largest economy.
7 January 2023, 18:00 PM

Rupee rises with Asian peers

The Indian rupee rose against the dollar on Thursday, buoyed by an uptick in most Asian currencies and a further decline in oil prices.
5 January 2023, 18:00 PM

Russia sends more Arctic oil to China, India after sanctions

Russia is sending more crude oil produced in the Arctic region to China and India, and at steeper discounts, after Europe slammed its doors shut on Russian supplies last month, trade sources and data show.
5 January 2023, 18:00 PM

Eurozone recession may not be as deep as expected

Eurozone business activity contracted less than initially thought at the end of last year as price pressures eased, according to a survey which suggested the bloc’s recession may not be as deep as expected.
4 January 2023, 18:00 PM

US regulators warn banks over crypto risks

US bank regulators warned Tuesday that crypto assets and exposure present risks to lenders, urging organizations to ensure they manage the dangers.
4 January 2023, 18:00 PM

German inflation drops on gas bill subsidy

German inflation eased in December for a second straight month, preliminary data showed Tuesday, as government interventions helped bring down energy prices.
4 January 2023, 18:00 PM

Oil price falls

Oil prices edged lower on Tuesday in volatile trade as weak demand data from China and a gloomy economic outlook weighed.
3 January 2023, 18:00 PM

US retail sales grow 7.6% in holiday season

US retail sales rose 7.6 per cent between November 1 and December 24, which encompasses a majority of the holiday season, as steep discounts lured deal-hungry consumers, a Mastercard report showed on Monday.
2 January 2023, 18:00 PM

Dollar edges up but sentiment frail

The dollar edged up yesterday, pulling away from recent six-month lows against a basket of major currencies, for now.
2 January 2023, 18:00 PM

India’s jobless rate rises to 16-month high

India’s unemployment rate rose to 8.30 per cent in December, the highest in 16 months, from 8.00 per cent in the previous month, data from the Centre for Monitoring Indian Economy (CMIE) showed on Sunday.
1 January 2023, 18:00 PM

Rouble hits record low vs dollar

The Russian rouble slumped to an eight-month low against the dollar on Thursday, struggling under the weight of expectations that sanctions on Russian oil and gas may limit export revenues.
29 December 2022, 18:00 PM