Suez Canal transit fees to be raised

Egypt plans to raise fees for ships passing through the Suez Canal by 15 per cent in 2023, the canal authority’s chairman Osama Rabie said on Saturday.
17 September 2022, 18:00 PM

China’s export pillar shows cracks from global slowdown

China’s exporters – the last reliable pillar of the world’s second-largest economy as it struggled with the pandemic, weak consumption and a property crisis – are warning of hard times ahead as softer overseas markets force them to shed workers, shift to lower-value goods and even rent out their factories.
15 September 2022, 18:00 PM

Oil falls on demand concerns, strong dollar

Oil fell on Thursday as expectations of weaker demand and a strong US dollar ahead of a potentially large interest rate increase outweighed supply concerns.
15 September 2022, 18:00 PM

India, Russia to discuss energy security

India and other members of the Shanghai Cooperation Organisation (SCO) will discuss energy security at the regional security bloc’s meeting in Uzbekistan, India’s foreign secretary Vinay Kwatra said on Thursday.
15 September 2022, 18:00 PM

India plans no more funding for Sri Lanka

India does not plan to provide fresh financial support to Sri Lanka on top of the nearly $4 billion it has extended this year, two sources told Reuters, as the island’s battered economy starts to stabilise after a preliminary loan agreement with the IMF.
15 September 2022, 18:00 PM

WB earmarks $30b to offset food shortages

The World Bank is willing to provide up to $30 billion to combat global food shortages aggravated by Russia’s invasion of Ukraine and has so far disbursed almost $10 billion in financial aid pledged to Kyiv, a senior bank official said on Thursday.
15 September 2022, 18:00 PM

US inflation likely eased in August

US inflation likely slowed in August, largely thanks to falling gasoline prices, but not enough to satisfy policymakers, especially President Joe Biden, as high prices continue to inflict pain on American families and businesses.
14 September 2022, 18:00 PM

France is not falling into recession, Le Maire says

French Finance Minister Bruno Le Maire said on Wednesday that the economy was not facing recession after the government lowered its economic outlook for 2023.
14 September 2022, 18:00 PM

China reaps energy windfall as West shuns Russian supplies

China is buying more and less expensive energy supplies from Russia this year, reaping the benefits of a plunge in European purchases just when Beijing needs it most as the Ukraine crisis pushes Moscow in search of alternative markets.
14 September 2022, 18:00 PM

EU lays out energy crisis plan

The European Commission on Wednesday unveiled a series of proposals to curb the energy price spike that has rocked Europe in the wake of Russia’s invasion of Ukraine, while stressing that the EU’s solidarity with Kyiv would be “unshakeable.”
14 September 2022, 18:00 PM

Japan’s inflation hits 9pc

Japan’s wholesale prices rose 9.0 per cent in August from the previous year, matching the annual pace of growth in July, data showed on Tuesday, signalling that persistently high raw material costs continued to squeeze corporate margins.
13 September 2022, 18:00 PM

Oil prices rise

Oil prices rose on Tuesday as worries about tight fuel supplies ahead of winter offset investor concerns about falling demand in China, the world’s biggest crude importer.
13 September 2022, 18:00 PM

How China became big business for Twitter

Even as China bars 1.4 billion citizens from Twitter, its local authorities are splurging on global advertising on the site, helping make the country the platform’s fastest-growing overseas ad market and one of its largest non-US revenue sources.
13 September 2022, 18:00 PM

India may hike rates by 50 bps as inflation soars

The Reserve Bank of India may raise interest rates by another 50 basis points this month after data showed inflation rose further above the central bank’s tolerance limit in August, analysts said.
13 September 2022, 18:00 PM

Bank of Japan to end Covid relief scheme

The Bank of Japan is expected to end as scheduled a pandemic-relief funding scheme this month and discuss adjustments to a policy guidance that flags the Covid-19 pandemic as the top economic risk, three sources familiar with its thinking say.
12 September 2022, 18:00 PM

Global reinsurers see inflation, war driving higher rates

Global geopolitical tensions, high inflation and climate change have heightened demand for risk protection and will lead to increased premiums, top reinsurers said at the industry’s annual gathering in Monte Carlo.
12 September 2022, 18:00 PM

IMF eyes expanded access to emergency aid for food shocks

The International Monetary Fund is looking for ways to provide emergency funding to countries facing war-induced food price shocks and will discuss measures at an executive board meeting on Monday, sources familiar with the matter told Reuters.
12 September 2022, 18:00 PM

Rising prices stoke fear of UK recession

Britain’s economy grew by less than expected in July, raising the risk that it is already in a recession, with the sharp climb in energy tariffs hurting demand for electricity and a leap in the cost of materials hitting the construction sector.
12 September 2022, 18:00 PM

US faces risk of recession

The United States faces  “a risk” of recession as its battle against inflation could slow the nation’s economy, but a serious downturn can still be avoided, Treasury Secretary Janet Yellen said Sunday.
12 September 2022, 18:00 PM

India’s rice export curbs paralyse trade in Asia as prices rise

India’s restrictions on rice exports have paralysed trading in Asia, with buyers scouring for alternative supplies from Vietnam, Thailand and Myanmar where seller are holding off on deals as prices rise, industry officials said.
12 September 2022, 18:00 PM