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Global Economy
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Global Economy
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Global Economy
China quietly raises purchase of low-priced Russian oil
China is quietly ramping up purchases of oil from Russia at bargain prices, according to shipping data and oil traders who spoke to Reuters, filling the vacuum left by Western buyers backing away from business with Russia after its invasion of Ukraine in February.
21 May 2022, 18:00 PM
Japan’s inflation hits 7-year high
Japan’s core consumer prices posted their biggest jump in seven years in April, official data showed Friday, as global commodity prices soared and the yen slumped against the dollar.
21 May 2022, 18:00 PM
Germany and Italy okayed payments after Brussels’ nod
Germany and Italy told companies they could open rouble accounts to keep buying Russian gas without breaching sanctions against Moscow following discussions with the European Union, sources said.
21 May 2022, 18:00 PM
China’s zero-Covid policy dashes global recovery hopes
A sharp slowdown in China’s economy caused by its strict zero-Covid rules and Beijing’s shift away from a traditional reliance on external demand have cast doubts over how much the country will contribute to future global trade and investment.
19 May 2022, 18:00 PM
India calls out West: Food grains shouldn’t go the way of Covid vaccines
India has called out western countries and cautioned that food grains should not go the way of Covid-19 vaccines, as it voiced concern over hoarding, discrimination and the “unjustified increase” in food prices which threaten food security of vulnerable countries amidst the war in Ukraine.
19 May 2022, 06:00 AM
Sri Lanka to default on debt, no money for fuel: minister
Sri Lanka was expected to be placed into default by rating agencies on Wednesday after the non-payment of coupons on two of its sovereign bonds, while the energy minister said the country had run out of money to pay for fuel.
18 May 2022, 18:00 PM
Russia-Ukraine war a wake-up call for Bangladesh’s agriculture sector
Ukraine and Russia, known as “the breadbasket of Europe”, are the major exporters of the world’s basic foods. Both countries export approximately one-quarter of wheat, more than three-quarters of sunflower oil and one-sixth of corn.
18 May 2022, 06:00 AM
China faces uphill battle to repeat 2020 miracle as exports falter
China’s slowing economy will struggle to stage the kind of stunning recovery it achieved from the early depths of the pandemic two years ago, as its formidable export machine teeters and options to revive investment and consumption dwindle.
17 May 2022, 18:00 PM
Britain’s unemployment hits 48-year low
Britain’s unemployment rate fell to its lowest since 1974 in the first three months of this year, but soaring inflation led to the biggest annual fall in real earnings for most workers since 2013, official figures showed on Tuesday.
17 May 2022, 18:00 PM
Food inflation pain puts emerging markets between rock and hard place
Like for millions of people in developing and emerging market countries around the world, shopping for staple foods has turned from a necessity into a luxury for Selcuk Gemici.
17 May 2022, 18:00 PM
G7 to continue economic pressure on Russia
Group of Seven foreign ministers vowed on Saturday to reinforce Russia’s economic and political isolation, continue supplying weapons to Ukraine and tackle what Germany’s foreign minister described as a “wheat war” being waged by Moscow.
16 May 2022, 18:00 PM
Russian rouble hovers near 5-year highs vs euro
The Russian rouble firmed past 64 per dollar on Monday and climbed towards a near five-year high against the euro, supported by continuing restrictions on currency trading.
16 May 2022, 18:00 PM
Economists sound alarm over UK’s post-Brexit plans
More than 50 economists warned on Monday that Britain’s post-Brexit plans to boost the competitiveness of its huge finance industry risked creating the kind of problems that led to the global financial crisis.
16 May 2022, 18:00 PM
China’s economy cools sharply as lockdowns bite
China’s economic activity cooled sharply in April as widening Covid-19 lockdowns took a heavy toll on consumption, industrial production and employment, adding to fears the economy could shrink in the second quarter.
16 May 2022, 18:00 PM
Wheat prices hit record high after Indian export ban
Wheat prices surged to a new record high on Monday after India decided to ban exports of the commodity as a heatwave hit production.
16 May 2022, 18:00 PM
Reliance to acquire dozens of brands
India’s biggest retailer Reliance will acquire dozens of small grocery and non-food brands as it targets building its own $6.5 billion consumer goods business to challenge foreign giants like Unilever, two sources familiar with the plan told Reuters.
15 May 2022, 18:00 PM
US rate hikes strain Hong Kong’s economy
Recent rate hikes from the Federal Reserve have come at a bad time for Hong Kong which, thanks to its US dollar peg, must follow suit despite its own flagging economy.
15 May 2022, 18:00 PM
Saudi Aramco net profit soars 82pc in first quarter
State-owned oil producer Saudi Aramco on Sunday reported an almost 82 per cent rise in first-quarter net profit, broadly in line with analyst forecasts, helped by strong oil prices.
15 May 2022, 18:00 PM
Gas poker game between Russia and Europe
The drop in Russian gas flows to the European Union has had no major effect on supplies, but it raises pressure on the region to wean itself from Moscow’s energy.
15 May 2022, 18:00 PM
Ukraine’s IT sector booming despite war
Workers with stickers on their laptops recline on beach chairs outside a warehouse for start-ups in the west Ukraine city of Lviv giving off major Silicon Valley vibes.
14 May 2022, 18:00 PM