Germany agrees €65b inflation relief package

The German government on Sunday unveiled a new multi-billion euro plan to help housesholds cope with soaring prices, and said it was eyeing windfall profits from energy companies to help fund the relief.
4 September 2022, 18:00 PM

UK classifies $1.3b of Covid ‘bounce back’ loans as suspected fraud

The British government is set to release data showing around 1.1 billion pounds of small business loans ($1.27 billion) made under a Covid-19 emergency lending scheme has already been classified as suspected fraud, a source told Reuters.
3 September 2022, 18:00 PM

Indian rupee slips on dollar strength

The Indian rupee declined on Friday as the US dollar climbed after data showed the labour market remained strong in the United States, furthering the case for the Federal Reserve to keep tightening rates.
3 September 2022, 18:00 PM

Oil climbs ahead of Opec+ meeting

Oil prices rose on Friday on expectations that Opec+ will discuss output cuts at a meeting on September 5, though concern over China’s Covid-19 curbs and weakness in the global economy loomed over the market.
3 September 2022, 18:00 PM

US hiring slows sharply in August

American employers slowed the pace of hiring in August after the surprising surge in the prior month and the jobless rate edged up, according to government data released Friday, which could offer the central bank some relief that its inflation-fighting efforts are working.
3 September 2022, 18:00 PM

Why Russia drives European and British gas prices

Russia on Friday scrapped a Saturday deadline to resume flows via the Nord Stream 1 pipeline to Europe, saying it had discovered a fault during maintenance, deepening Europe’s difficulties in securing fuel for winter.
3 September 2022, 18:00 PM

India’s GDP data signals lower trend growth

India’s gross domestic product data indicated that while domestic demand improved in the June quarter, growth was much slower in the sectors hardest hit by the pandemic, signalling deeper scarring and lower trend growth, Nomura said on Friday.
3 September 2022, 18:00 PM

Indonesia hikes fuel prices to rein in subsidies

Indonesia raised subsidised fuel prices by about 30 per cent on Saturday, as the government moves to rein in ballooning subsidies despite a risk of mass protests.
3 September 2022, 18:00 PM

Yellen ‘optimistic’ on deal to set price cap on Russian oil

US Treasury Secretary Janet Yellen said Wednesday she was “optimistic” about the possibility of an international agreement to set a price limit on Russia’s oil exports.
1 September 2022, 18:00 PM

Eurozone unemployment at historic low

Unemployment in the eurozone stood at its lowest recorded level in July, 6.6 per cent of the active population, the EU statistics agency announced Thursday.
1 September 2022, 18:00 PM

How could Europe cap surging energy prices?

The European Union is preparing an emergency plan to separate power prices from the soaring cost of gas - as well as longer-term reforms aimed at ensuring electricity prices reflect cheaper renewable energy.
31 August 2022, 18:00 PM

China’s factory activity contracts

China’s factory activity shrank in August for the second month in a row, official data showed Wednesday, as the sector was hit by strict zero-Covid restrictions and extreme heat.
31 August 2022, 18:00 PM

Eurozone inflation jumps to new record 9.1pc

The eurozone inflation rate hit a new record in August, official data showed on Wednesday, increasing pressure on the European Central Bank to hike rates to tame Ukraine war-fuelled prices.
31 August 2022, 18:00 PM

Pakistan floods fuel ‘back-breaking’ food inflation

Catastrophic monsoon floods in Pakistan have sent food prices skyrocketing, putting many staples out of the reach of the poor as the cash-strapped nation battles shortages.
30 August 2022, 18:00 PM

India’s Adani becomes world’s third-richest person

Indian industrialist Gautam Adani became the world’s third-richest person on the Bloomberg Billionaires Index on Tuesday, the first time an Asian has ranked in the top three.
30 August 2022, 18:00 PM

German inflation climbs

German inflation gathered pace again in August, official data published Tuesday showed, as the soaring price of energy heaped pressure on households.
30 August 2022, 18:00 PM

Indian rupee marks biggest gain in one year

The Indian rupee notched its biggest one-day gain in a year on Tuesday against a wobbly dollar as local equities saw a rush of foreign investor inflows.
30 August 2022, 18:00 PM

India’s status as fastest growing economy to be short-lived

India likely recorded strong double-digit economic growth in the last quarter but economists polled by Reuters expected the pace to more than halve this quarter and slow further toward the end of the year as interest rates rise.
29 August 2022, 18:00 PM

Germany says gas stocks rising quicker than expected

Germany is replenishing its gas stocks more quickly than expected despite drastic Russian supply cuts and should meet an October target early, the government said Sunday.
29 August 2022, 18:00 PM

Saudi to build $3.5b green hydrogen project in Egypt

Saudi Arabian company Alfanar said on Monday it has signed a memorandum of understanding to build a $3.5 billion green hydrogen project in Egypt.
29 August 2022, 18:00 PM