Trade war to weigh on global growth: IMF

The IMF warned Thursday that the escalating US-China trade war will “jeopardize” 2019 global growth, undermining confidence and raising prices for consumers.
23 May 2019, 18:00 PM

Novartis CEO plans gene therapy price ‘far lower’ than $4m to $5m range

Novartis AG’s top executive said on Wednesday it expects to price its gene therapy for spinal muscular atrophy far lower than the $4 million to $5 million figure the Swiss drugmaker has said it could be worth.
23 May 2019, 18:00 PM

Never mind the profit fall, M&S says, focus on the changes

Marks & Spencer asked to be judged on how fast it is changing as much as its financial results on Wednesday, as the British clothing and food retailer reported a third straight drop in annual profits.
23 May 2019, 18:00 PM

As tourism drives residents out, Malaysia’s heritage city turns to millennials

The faded white walls and wooden door of Fong Lai Kheng’s hair salon in the heart of Malaysia’s George Town stand out on a street lined with souvenir shops, cafes and colourful murals.
22 May 2019, 18:00 PM

Dutch issue first ‘green bond’

The Netherlands said it was issuing its first “green bond” on Tuesday, becoming the first top-rated country to tap into a growing market for investments in environmental projects.
22 May 2019, 18:00 PM

Fed may cut rates if inflation keeps disappointing: Bullard

Further weakness in inflation could prompt the US Federal Reserve to cut interest rates, even if economic growth maintains its momentum, James Bullard, President of the Federal Reserve Bank of St. Louis, said on Wednesday.
22 May 2019, 18:00 PM

China’s big three airlines seek 737 MAX payouts from Boeing

China’s three biggest airlines have filed claims seeking compensation from Boeing over the grounding and delayed delivery of 737 MAX 8 aircraft following two deadly crashes, Chinese state media reported on Wednesday.
22 May 2019, 18:00 PM

Designed by committee, Toyota’s Japan Taxi becomes an expensive Olympic symbol

Toyota Motor’s Japan Taxi, born in a government committee and designed to be an all-things-to-all-people cab, has become a high-priced icon of Tokyo’s budget-busting 2020 Olympic and Paralympic Games.
22 May 2019, 18:00 PM

Germany orders new anti-money-laundering steps at online bank N26

German financial markets watchdog Bafin said Wednesday it had ordered online bank N26 to tackle gaps in its measures against financial crime, including in its systems for verifying clients’ identities.
22 May 2019, 18:00 PM

Britain’s Hinduja brothers consider bid for India’s Jet Airways

The billionaire Hinduja brothers -- Britain’s wealthiest people -- are considering a bid for India’s grounded Jet Airways, a spokesperson said Wednesday, sending shares in the firm soaring almost seven percent.
22 May 2019, 18:00 PM

Investors stick with safe-haven bonds on trade, Brexit concerns

Euro zone safe-haven bond yields dipped on Wednesday as trade tensions between China and the United States and renewed political uncertainty around Britain’s exit from the European Union kept investors on edge.
22 May 2019, 18:00 PM

Explainer: Who pays Trump’s tariffs, China or US customers and companies?

US President Donald Trump says China pays the tariffs he has imposed on $250 billion of Chinese exports to the United States. But
22 May 2019, 18:00 PM

Japan’s trade surplus falls sharply as exports drop

Japan’s trade surplus dropped by around 90 percent in April, official data showed Wednesday, with exports affected by a slowdown in China’s economy as it wages a trade war with Washington.
22 May 2019, 18:00 PM

Fears rise China could weaponise rare earths in US tech war

The US has hit China where it hurts by going after its telecom champion Huawei, but Beijing’s control of the global supply of rare earths used in smartphones and electric cars gives it a powerful weapon in their escalating tech war.
22 May 2019, 18:00 PM

Purbachal project allowed to use ground water

The Purbachal project, a new township in the capital, will get water supply through deep tube wells until the completion of the Meghna water supply line, according to a government decision yesterday. The cabinet committee on economic affairs gave its nod at a meeting at the secretariat in Dhaka.
22 May 2019, 18:00 PM

Gender diversity good for businesses and economies: UN

Companies that improve gender diversity -- especially at the top -- perform better and rake in higher profits, while countries that increase women employment see better economic growth, the UN said Wednesday.
22 May 2019, 18:00 PM

Dollar near one-month highs before Fed minutes; pound dives

The dollar largely kept to familiar trading ranges on Wednesday, as it found support near a 3-1/2-week high on higher US yields after the United States eased trade restrictions on Chinese telecommunications equipment maker Huawei Technologies.
22 May 2019, 18:00 PM

Ford Motor cutting 10pc of global salaried workforce

Ford Motor Co said on Monday it will eliminate about 10% percent of its global salaried workforce, cutting about 7,000 jobs by the end of August as part of its larger restructuring in a move that will save the No. 2 automaker $600 million annually.
20 May 2019, 18:00 PM

EU firms ‘caught in crossfire’ of US-China trade war

European firms are “caught in the crossfire” of the US-China trade war and fewer are optimistic about their future in the world’s second-largest economy, a business survey showed Monday.
20 May 2019, 18:00 PM

Oil rises after Opec+ says to keep output cuts

Oil hit multi-week highs on Monday after Opec indicated it was likely to maintain production cuts that have helped boost prices this year, while escalating Middle East tensions provided further support.
20 May 2019, 18:00 PM