M&S pulls out of Russia

British retailer Marks & Spencer will end its franchise agreement in Russia in the coming months and joined rivals in warning about the outlook for the current year amid a worsening cost-of-living crunch.
25 May 2022, 18:00 PM

Electric car sales soar

Sales of electric cars accelerated last year but the availability of critical raw materials such as lithium risked slowing the sector’s growth, a report warned Monday.
24 May 2022, 18:00 PM

Sri Lanka hikes fuel prices to record high

Cash-strapped Sri Lanka sharply hiked fuel prices to a record high on Tuesday, causing further pain to the country’s 22 million people in its worst crisis since independence.
24 May 2022, 18:00 PM

Rouble firms past 57 vs dollar for first time in 4 years

The Russian rouble strengthened to levels not seen since March 2018 against the dollar on Tuesday, boosted by export-focused companies selling foreign currency to pay taxes and shrugging off a slight easing of capital controls.
24 May 2022, 18:00 PM

Palm oil: Local prices fall as Indonesia lifts ban on exports

Palm oil prices in domestic wholesale and retail markets have started cooling off after Indonesia announced that it would resume exports of the product.
24 May 2022, 04:00 AM

Rouble gains 4pc vs dollar

The Russian rouble firmed around 4 per cent against the dollar and euro on Monday, heading back towards multi-year highs hit last week, supported by capital controls and an upcoming month-end tax period.
23 May 2022, 18:00 PM

Inflation in Sri Lanka hits new record

Sri Lanka’s inflation hit a seventh consecutive record high in April as a petrol shortage worsened and food prices rose sharply, official data showed Monday.
23 May 2022, 18:00 PM

Turkey dreams of far-fetched gas pipeline with Israel

Turkey is ready for energy cooperation with Israel after years of enmity, reviving a project to pipe Israeli gas to Europe as Ankara seeks to reduce its dependence on Russia.
23 May 2022, 18:00 PM

Biden says US recession not inevitable

A recession in the United States is not inevitable, President Joe Biden said Monday, while acknowledging the economic pain experienced by Americans as inflation soars.
23 May 2022, 18:00 PM

ECB plans end to negative rates era as inflation soars

Negative interest rates will soon be a thing of the past in the eurozone, the ECB’s chief signalled Monday, with the bank poised to raise rates for the first time in over a decade to tamp down soaring inflation.
23 May 2022, 18:00 PM

Indonesia due to restart palm oil export amid uncertainty over rules

Indonesia is due to resume exports of palm oil on Monday after a ban of more than three weeks, but industry traders and companies were awaiting details on accompanying rules to secure domestic supplies of the edible oil to control cooking oil prices.
23 May 2022, 06:58 AM

India trims tax on fuel, essentials

India on Saturday announced a series of changes to the tax structure levied on crucial commodities in a bid to insulate consumers from rising prices amid high inflation.
22 May 2022, 18:00 PM

British pound: the sick man of the currency world

In volatile currency markets, one trade stands out as an easy bet: selling the British pound.
22 May 2022, 18:00 PM

Bitter harvest for Indian farmers after wheat export ban

When New Delhi banned wheat exports as prices soared over Russia’s invasion of Ukraine it provoked consternation abroad and drove the cereal even higher.
22 May 2022, 18:00 PM

Big brands fret over China as middle-class spurns luxury

Chloe Kou, a 28-year old beauty brand marketing manager from Shanghai, won’t be buying her usual  “one or two” high-end handbags this year. Instead, she plans to save not spend, and that is a problem for luxury brands.
22 May 2022, 18:00 PM

UK and Mexico launch trade talks

Britain and Mexico kicked off negotiations on Friday to pin down a post-Brexit free trade deal, the UK government announced.
22 May 2022, 18:00 PM

US, S Korea sign pact on supply chains

The United States and South Korea have agreed to work more closely on crucial trade and supply-chain issues, the US Commerce Department announced Saturday.
22 May 2022, 18:00 PM

Recession fears spook global markets

European and Asian markets took a beating Thursday, while the dollar tumbled a day after Wall Street suffered one of its worst batterings in two years over recession fears amid decades-high inflation.
21 May 2022, 18:00 PM

UK retail sales rebound

British retail sales unexpectedly rebounded in April, data showed Friday, but remain on a long-term downward trend amid a cost-of-living crisis that saw inflation rocket to a 40-year high.
21 May 2022, 18:00 PM

China lifts ban on Canada canola imports

China has lifted a ban on Canadian canola imports, a Canadian official said Thursday, calling it  “very good news” for producers that Ottawa argued had been caught up in a diplomatic row.
21 May 2022, 18:00 PM