US cancels 3 offshore oil lease sales

The Biden administration has scotched plans to hold three offshore oil and gas lease sales in Alaska and the Gulf of Mexico, a government spokeswoman said Thursday.
14 May 2022, 18:00 PM

Hungary holds up EU plan to ban Russian oil

The European Union’s hopes to quickly impose a ban on Russian oil imports could be dashed after Hungary demanded expensive guarantees for its own fuel supplies, diplomats say.
14 May 2022, 18:00 PM

Iraq strikes deal with Iran to secure summer gas imports

Iraq has agreed to pay $1.6 billion in debt to Iran by June 1 to secure a steady gas supply for power generation through the summer, its electricity minister said.
12 May 2022, 18:00 PM

Siemens profits down as it plans Russia exit

German industrial conglomerate Siemens said Thursday its profits were cut nearly in half in the second quarter as the group announced it would wind down its operations in Russia.
12 May 2022, 18:00 PM

Russia puts sanctions on Gazprom units in Europe, US

Moscow has imposed sanctions on the owner of the Polish part of the Yamal pipeline that carries Russian gas to Europe, as well as the former German unit of the Russian gas producer Gazprom, whose subsidiaries service Europe’s gas consumption.
12 May 2022, 18:00 PM

How Sri Lanka’s economy went into a tailspin

Sri Lanka is suffering its worst economic crisis since its independence from Britain in 1948.
12 May 2022, 18:00 PM

Japan passes bill to guard sensitive technology

Japan’s parliament on Wednesday passed an economic security bill aimed at guarding technology and reinforcing critical supply chains, while also imposing tighter oversight of Japanese firms working in sensitive sectors or in critical infrastructure.
11 May 2022, 18:00 PM

Colombo port resumes operations

Operations and navigation at the Port of Colombo resumed yesterday following a two-day hiatus for ongoing political unrest in Sri Lanka, albeit bringing temporary relief to Bangladesh’s exporters, freight forwarders and shipping firms.
11 May 2022, 18:00 PM

Govt to open up submarine cable business to private firms

Private companies in Bangladesh are set to get licences to establish, maintain and operate submarine cables, in a shift that will break the state monopoly and pave the way for a smooth supply of bandwidth amid a surge in internet use.
11 May 2022, 18:00 PM

26 firms to get productivity, quality excellence awards

Twenty-six firms are going to receive the National Productivity and Quality Excellence Award 2020 as a recognition for their continuous improvement in productivity and quality.
10 May 2022, 18:00 PM

Japan’s spending dips amid worries over surging prices

Japan’s household spending dipped 2.3 per cent in March from a year earlier as the cost of fuel and other items surge, though the fall was smaller than expected.
10 May 2022, 18:00 PM

US retail gasoline prices soar

Retail gasoline prices in the United States rose on Tuesday and hit another all-time record, surpassing one set in March, as global refineries grappled with a bottleneck that has sent prices soaring ahead of driving season.
10 May 2022, 18:00 PM

Malaysia may cut palm oil export tax

Malaysia’s commodities ministry has proposed cutting export tax on palm oil by as much as half to help fill a global edible oil shortage and grow the market share of the world’s second-largest palm oil producer.
10 May 2022, 18:00 PM

Dollar hits 20-year high

The US dollar reached a new 20-year high on Monday as risk-off sentiment stemming in part from concerns over the Federal Reserve’s ability to combat high inflation boosted the greenback’s safe-haven appeal.
10 May 2022, 18:00 PM

Bitcoin drops below $30,000, lowest since July 2021

Bitcoin slumped below $30,000 for the first time since July 2021 on Tuesday as cryptocurrencies track sinking markets with investors spooked by aggressive US monetary tightening and surging inflation.
10 May 2022, 18:00 PM

China’s Iranian oil imports ease on lure of Russian oil

China’s Iranian oil imports in April came off peak volumes seen in late 2021 and early 2022 as demand from independent refiners weakened after Covid-19 lockdowns pummelled fuel margins and on growing imports of lower-priced Russian oil.
9 May 2022, 18:00 PM

Asian stocks tumble on global anxieties over inflation

Asian stocks fell on Monday as investors remained anxious over inflation and the ongoing impact of China’s Covid lockdown policies, despite an initial Wall Street bounce thanks to a solid US jobs report.
9 May 2022, 18:00 PM

S Korea’s incoming govt may join US economic pact

South Korea is  “positively considering” joining an Indo-Pacific economic pact planned by the United States, a government official said on Monday, after domestic media said the incoming administration had decided to join as a founding member.
9 May 2022, 18:00 PM

Japan to take time phasing out Russian oil: PM

Japan will take time to phase out Russian oil imports after agreeing on a ban with other Group of Seven (G7) nations to counter Moscow’s invasion of Ukraine, Prime Minister Fumio Kishida said on Monday.
9 May 2022, 18:00 PM

China’s export growth hits 2-year low amid virus curbs

China’s export growth slowed to single digits, the weakest in almost two years, while imports barely changed in April as tighter and wider Covid-19 curbs halted factory production and crimped domestic demand, adding to wider economic woes.
9 May 2022, 18:00 PM