Vietnam reports strong economic growth of 8%

Vietnam’s economy grew by eight percent in 2022, driven by strong exports and retail sales, authorities said on Thursday.
29 December 2022, 18:00 PM

Dollar rises vs yen, declines against sterling

The dollar touched a one-week high against the yen on Wednesday, boosted by a jump in Treasury yields and investor expectations for a rebound in Chinese growth as Covid-19 curbs loosen.
28 December 2022, 18:00 PM

Russian rouble slumps again

The rouble weakened sharply on Wednesday, sliding to the 72 mark against the dollar, as sanctions on Russian oil and their probable impact on export revenues put pressure on the Russian currency.
28 December 2022, 18:00 PM

World economy faces more pain in 2023 after a gloomy year

This was supposed to be the comeback year for the world economy following the Covid pandemic. Instead, 2022 was marked by a new war, record inflation and climate-linked disasters. It was a "polycrisis" year, a term popularised by historian Adam Tooze. Get ready for more gloom in 2023.
28 December 2022, 04:20 AM

German businesses expect mild recession next year

German companies expect only a mild recession next year despite headwinds from the energy crisis, raw material shortages and a tepid global economy, a survey of major associations published by Reuters on Tuesday showed.
27 December 2022, 18:00 PM

Vietnam remains appealing destination for Japanese investors

The proportion of Japanese enterprises that intend to expand their investment in Việt Nam in the next one to two years is 60 per cent, up 4.7 points from the previous year and the highest among Southeast Asian countries.
27 December 2022, 18:00 PM

Singapore dollar to hold its ground in 2023

The Singapore dollar is set to end the year as Asia’s most resilient currency against an exceptional surge in the United States dollar.
26 December 2022, 18:00 PM

Orders of US manufactured goods slump

Orders for big-ticket US manufactured goods dropped more than expected in November,bogged down by a sharp decline in the aircraft segment, according to government data released recently.
26 December 2022, 18:00 PM

Global cenbanks deliver historic rate hike blast

Major central banks ramped up interest rates at the fastest pace and biggest scale in at least two decades in 2022 as policy makers went all out in the battle to contain surging inflation.
26 December 2022, 18:00 PM

Tesla suspends production at Shanghai plant

Tesla suspended production at its Shanghai plant on Saturday, according to an internal notice and two people with knowledge of the matter, bringing ahead a previous plan to pause most work at the plant in the last week of December.
25 December 2022, 18:00 PM

India should prepare for headwinds: IMF

India’s future interest rate hikes should be carefully calibrated and its intervention in the foreign exchange market should be limited to managing volatility, the International Monetary Fund (IMF) said on Friday.
25 December 2022, 18:00 PM

India’s forex reserves fall, now $563.5b

India’s foreign exchange reserves snapped a five-week rising streak and fell to $563.5 billion in the week through December 16, the Reserve Bank of India’s (RBI) statistical supplement showed on Friday.
25 December 2022, 18:00 PM

Stocks wobble though inflation is cooling off

US and European stocks wobbled on Friday despite a key gauge showing inflation to be slowing, as investors remain concerned about recession risks.
25 December 2022, 18:00 PM

German inflation to remain high for two years

Inflation is likely to remain high for another two years as companies pass on higher input costs and in some cases exaggerate them, the head of the council of economists that advises the German government was quoted as saying on Saturday.
25 December 2022, 18:00 PM

Canada’s economy slows

The Canadian economy grew by 0.1 per cent in October and is expected to expand at the same pace in November, data showed on Friday, a sign that the full impact of seven consecutive interest rates hikes this year has yet to play out.
24 December 2022, 18:00 PM

Indonesian airports expect 2.5m travellers

The number of passenger movement at 20 Indonesian airports during the Christmas and New Year holiday this year is expected to reach 2.54 million passengers, PT Angkasa Pura II (AP II) predicts, as the state-owned operator readies its service to accommodate the end-of-year peak season.
24 December 2022, 18:00 PM

Japan firms to stop insuring ships in all Russian waters

Three Japanese insurance companies will stop insuring ships for damage in all Russian waters due to the war in Ukraine, potentially affecting Japan’s energy imports including liquefied natural gas (LNG), the Nikkei newspaper said on Saturday.
24 December 2022, 18:00 PM

S&P lowers Pakistan’s credit rating

Global ratings agency S&P Global on Thursday cut Pakistan’s long-term sovereign credit rating by one notch to “CCC+” from “B” to reflect a continued weakening of the country’s external, fiscal and economic metrics.
24 December 2022, 18:00 PM

Oil price rises by $3 per barrel

Oil prices settled about $3 per barrel higher on Friday for a second straight week of gains after Moscow said it could cut crude output in response to the G7 price cap on Russian exports.
24 December 2022, 18:00 PM

US growth revised up to 3.2pc in Q3

The US economy expanded 3.2 per cent in the third quarter, the Commerce Department said Thursday, in a further upward revision of data reflecting stronger consumer spending and investment than earlier estimated.
24 December 2022, 18:00 PM