Powell, Lagarde split over central bank role in climate policy

US Federal Reserve chief Jerome Powell said Friday it was not the central bank’s role to set climate policy, a stance rejected by European counterpart Christine Lagarde who warned that “the planet is burning”.
5 June 2021, 18:00 PM

US hiring underwhelms in May as economic reopening hits turbulence

The United States added 559,000 jobs last month as hard-hit sectors rehired workers laid off during the worst days of the pandemic, but analysts warned the virus was continuing to complicate the economy despite massive government stimulus.
5 June 2021, 18:00 PM

US leisure and hospitality pay surges to a record

Hotels, restaurants and other businesses are boosting pay as they try to rebuild their staffs and meet increasing demand from Americans ready to venture out as pandemic-related restrictions are lifted and more people are vaccinated.
5 June 2021, 18:00 PM

India cenbank says focused on growth as inflation not ‘persistent’

The Reserve Bank of India (RBI) kept interest rates at record lows on Friday and announced additional bond purchases to support the economic recovery, at risk of being derailed by a devastating second wave of Covid-19 infections.
5 June 2021, 18:00 PM

Canada loses more jobs in May but summer hiring boom looms

Canada lost more jobs than expected in May amid continued lockdowns to curb a harsh third wave of Covid-19, data showed on Friday, but economists were quick to predict a rush of hiring in June as those restrictions ease.
5 June 2021, 18:00 PM

India’s factory activity growth slips in May as demand falls

India’s factory activity growth slowed significantly in May as an escalation in coronavirus cases whacked new orders and output while scarcity of raw materials drove up input costs, a private sector survey showed on Tuesday.
1 June 2021, 18:00 PM

China’s third-child policy boosts shares in toy, diaper makers

Shares in Chinese toy makers, diaper producers and infant food companies soared for the second day on Tuesday, as investors piled into stocks seen as benefitting from Beijing’s new three-child policy.
1 June 2021, 18:00 PM

Tesla’s vehicle price increases due to supply chain pressure, Musk says

The price of Tesla vehicles is increasing due to supply chain pressures across the auto industry, particularly for raw materials, Elon Musk said on Monday in response to a tweet
1 June 2021, 18:00 PM

Eurozone factory growth, input costs hit record highs in May

Eurozone manufacturing activity expanded at a record pace in May, according to a survey on Tuesday which suggested growth would have been even faster without supply bottlenecks that have led to an unprecedented rise in input costs.
1 June 2021, 18:00 PM

India’s fuel demand plunges in May on Covid-19 lockdowns

Indian state refiners’ daily gasoline and gasoil sales declined by about a fifth in May from a month earlier as lockdowns to curb the second deadly wave of Covid-19 hit industrial activities and consumption, preliminary data showed on Tuesday.
1 June 2021, 18:00 PM

UK house prices jump 10.9pc, could speed up further

British house prices jumped by an annual 10.9 per cent, the most in nearly seven years, and they look set to accelerate further as people seek new homes after the pandemic, mortgage lender Nationwide said.
1 June 2021, 18:00 PM

Britain to build new flagship to promote trade

Britain is to build a new flagship to promote its business and trade interests around the world, the government said on Saturday, in a move it said would also boost the ailing shipbuilding industry.
30 May 2021, 18:00 PM

Egyptian court delays hearing in Suez container ship compensation case

An Egyptian court on Saturday postponed a hearing in a compensation case filed by the Suez Canal authority against the owners of a container ship that blocked the canal for six days in March, giving the sides more time to negotiate, legal sources said.
30 May 2021, 18:00 PM

Canadian telecoms regulator’s latest ruling spells ‘dark period’ for smaller operators

Two recent decisions by Canada’s telecom regulator are freezing out competition in the country’s highly concentrated industry, critics argue, making it even harder to bring down prices for mobile and internet service.
30 May 2021, 18:00 PM

Increase budgetary allocation for young people: experts

The government should work more for the development of the country’s young people and increase the allocation for them in the upcoming national budget, said economists, policymakers, civil society and NGO representatives.
30 May 2021, 18:00 PM

Bitcoin falls 5.2pc to $33,849, Ether down 6.3pc

Bitcoin dipped 5.16 per cent to $33,849.47 at 18:00 GMT on Saturday, losing $1,842.99 from its previous close.
30 May 2021, 18:00 PM

Dubai property booms as wealthy buyers escape lockdowns

Dubai’s property market is powering out of a six-year malaise as “lockdown dodgers” and wealthy international investors drive a buying frenzy that is breaking records and fuelling an economic recovery.
30 May 2021, 18:00 PM

British retail faces ‘tsunami of closures’ without rent help

Britain’s retail sector will endure a “tsunami of closures” if the government does not extend a moratorium on aggressive debt enforcement, industry lobby group the British Retail Consortium (BRC), said on Sunday.
30 May 2021, 18:00 PM

Meltdown? Turmoil at UK steel empire stokes job fears

Sanjeev Gupta’s Liberty Steel company -- one of the world’s largest steel empires -- faces an uncertain future after announcing plans to sell three of its UK plants.
30 May 2021, 18:00 PM

Biden’s big budget comes with a modest growth outlook

President Joe Biden’s first budget proposal comes with a big price tag - at $6 trillion, roughly 50 per cent higher than pre-Covid-19 federal spending - but, at least for now, projects a relatively modest long-term lift to the economy, likely reflecting concerns about the aging US population.
29 May 2021, 18:00 PM