New Zealand to make banks report climate impact

New Zealand passed a law Thursday forcing banks to reveal the impact of their investments on climate change, describing it as a world-first move to make the financial sector’s environmental record more transparent.
21 October 2021, 18:00 PM

British govt borrowing improves ahead of budget

UK government borrowing fell by more than expected in September but remains elevated on Covid, official data showed Thursday ahead of next week’s budget announcement.
21 October 2021, 18:00 PM

UN launches cash plan to prop up Afghan economy

The United Nations on Wednesday launched a funding programme aimed at preventing the Afghan economy from collapsing during the winter by getting cash flowing through the local economy again.
21 October 2021, 18:00 PM

Oil prices rise

Oil prices rose on Tuesday, recouping earlier losses, as falling temperatures in China revived concerns about its ability to meet heating demand needs amid power and coal shortages.
19 October 2021, 18:00 PM

Moscow launches face recognition payments

Moscow on Friday rolled out a facial recognition payment system in the city’s metro system, part of a rapid expansion of the controversial technology in Russia.
17 October 2021, 18:00 PM

Russia seeing record gas demand

Russian gas consumption is running at a record high but Moscow is still ready to increase supplies to Europe should it receive such requests, Deputy Prime Minister Alexander Novak said on Saturday.
17 October 2021, 18:00 PM

UK toy firms battle to prevent nightmare before Christmas

At a warehouse northwest of London, dozens of workers sort boxes of Christmas toys, scanning barcodes and moving them on forklift trucks.
16 October 2021, 18:00 PM

EU to seek ban on oil and gas exploration in Arctic

The European Union will seek a ban on tapping new oil, coal and gas deposits in the Arctic to protect a region severely affected by climate change, according to a proposal for the bloc’s new Arctic strategy published on Wednesday.
14 October 2021, 18:00 PM

Global shortages crimp German growth

Global shortages in industrial components and raw materials have cramped Germany’s export driven economy, prompting the country’s leading economic institutes to slash their forecast for growth this year on Thursday.
14 October 2021, 18:00 PM

British American Tobacco to pull out of Myanmar

British American Tobacco will cease all operations in military-ruled Myanmar and withdraw by the end of this year, the company said on Tuesday, the latest Western firm to pull out of the country in turmoil since a February coup.
13 October 2021, 18:00 PM

UK economy rebounds despite supply chain woes

Britain’s economy rebounded in August despite ongoing supply chain woes, as people socialised more due to the lifting of coronavirus curbs, data showed Wednesday.
13 October 2021, 18:00 PM

More pain for British consumers as grocery prices rise

British grocery prices increased 1.7 per cent in the four weeks to Oct. 3 year-on-year, market researcher Kantar said on Tuesday, adding to pressure on households already facing soaring energy bills.
12 October 2021, 18:00 PM

Macron launches 30b-euro ‘France 2030’ investment plan

France wants to be a leader in green hydrogen by 2030 and build new, smaller nuclear reactors as part of a 30 billion euro ($35 billion) investment plan aimed at fostering industrial champions and innovation, President Emmanuel Macron said on Tuesday.
12 October 2021, 18:00 PM

UK jobs hit record high

British employers increased their payrolls to a record high in September, shortly before the end of the government’s wage subsidies scheme, potentially encouraging the Bank of England’s progress towards a first post-pandemic interest rate hike.
12 October 2021, 18:00 PM

IMF reaffirms ‘full confidence’ in head Georgieva

The IMF Executive Board reaffirmed on Monday its  “full confidence” in the Washington-based crisis lender’s chief, Kristalina Georgieva, keeping her on as managing director after she was hit with allegations of data tampering.
12 October 2021, 18:00 PM

Innovation in green energy by 2030: Macron reveals 30bn euro plan

France wants to be a leader in green hydrogen by 2030 and build low-carbon planes and small nuclear reactors as part of a 30 billion euro ($35 billion) investment plan, President Emmanuel Macron said on Tuesday.
12 October 2021, 12:19 PM

Oil price jumps on global energy crunch

Oil prices rose by about 2 per cent on Monday, extending gains as an energy crisis grips major economies amid a pick-up in economic activity and restrained supplies from major producers.
11 October 2021, 18:00 PM

China has won AI battle with US

China has won the artificial intelligence battle with the United States and is heading towards global dominance because of its technological advances, the Pentagon’s former software chief told the Financial Times.
11 October 2021, 18:00 PM

Still no decision on whether IMF chief keeps her job

The International Monetary Fund said Sunday it still had not decided whether its embattled chief would keep her job, with the lack of clarity over Kristalina Georgieva’s future threatening to overshadow the body’s fall meetings this week.
11 October 2021, 18:00 PM

No solution in UK govt talks with industry on gas prices

The British government and industry are still trying to solve an energy crisis that bosses have warned could shut down production in a matter of days, business secretary Kwasi Kwarteng said on Sunday.
11 October 2021, 18:00 PM