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

Indian rupee falls to new low on fears over inflation

The Indian rupee plunged to an all-time low against the greenback on Monday, as US monetary policy tightening roiled sentiment and foreign investors continued to dump domestic stocks.
9 May 2022, 18:00 PM

G7 countries pledge to stop Russia oil imports

The G7 club of wealthy nations committed Sunday to phasing out its dependency on Russian oil and issued a scathing statement accusing President Vladimir Putin of bringing  “shame” on Russia with his invasion of Ukraine.
9 May 2022, 18:00 PM

UAE to introduce unemployment insurance

The United Arab Emirates will introduce a form of unemployment insurance, the cabinet said on Monday, the latest reform by the Gulf country as it strives to attract talent and investment amid increasing regional economic competition.
9 May 2022, 18:00 PM

UAE’s non-oil sector maintains solid growth

The United Arab Emirates’ non-oil private sector maintained solid growth in April but inflationary pressures loomed, a survey showed on Monday.
9 May 2022, 18:00 PM

Canada to help Ukraine find options

Canada will help Ukraine work out options on how to export stored grain to uphold global food security that has been shaken by Russia’s invasion of the country, Canadian Prime Minister Justin Trudeau said late on Sunday.
9 May 2022, 18:00 PM

Indian rupee hits all-time low, trading over 77.40 per US dollar

The Indian rupee fell to a new all-time low early today (May 9, 2022), trading beyond 77.40 per US dollar, driven by investors’ need for safety as China’s lockdowns, war on the outskirts of Europe, and fears of increased interest rates sent a fearful jolt through markets, according to NDTV.
9 May 2022, 08:52 AM

Countries vow to boost food security amid war

The European Union, the United States and more than two dozen other countries vowed Friday to shore up global food security in a joint statement to the World Trade Organization.
8 May 2022, 18:00 PM

Xi warms up China’s economy, but virus narrows options

President Xi Jinping has offered state backing for tech, infrastructure and jobs to revive China’s economy, but analysts warn growth will continue to wilt until Beijing drops its rigid virus controls.
8 May 2022, 18:00 PM

Uber hit with loss despite rider rebound

Uber shares skidded last week after the company said it was hit with a big loss in the first three months of this year despite a rebound in its ride-share business.
8 May 2022, 18:00 PM

China offers relending facility for transport

China’s central bank said on Friday it launches a 100 billion yuan ($15 billion) relending facility to support the transport, logistics and storage sectors which have been hit hard by Covid-19.
8 May 2022, 18:00 PM

Global scramble for metals puts Africa into mining spotlight

The need to secure new sources of metals for the energy transition amid sanctions on top producer Russia has increased the Africa risk appetite for major miners, who have few alternatives to the resource-rich continent.
8 May 2022, 18:00 PM

AIIB may give Lanka $100m in emergency funding

The China-backed Asian Infrastructure Investment Bank (AIIB) is considering granting $100 million in emergency support to Sri Lanka, the country’s finance ministry said on Sunday.
8 May 2022, 18:00 PM

Companies envision taxis flying above jammed traffic

As urban traffic gets more miserable, entrepreneurs are looking to a future in which commuters hop into  “air taxis” that whisk them over clogged roads.
8 May 2022, 18:00 PM

Zimbabwe suspends bank lending

Zimbabwe’s government on Saturday ordered banks to stop lending with immediate effect in a move Harare said was designed to stop speculation against the Zimbabwean dollar and was part of a raft of measures to arrest its rapid devaluation on the black market.
8 May 2022, 18:00 PM

Brazil, Guyana agree to widen energy cooperation

Brazil and Guyana on Friday agreed to broaden energy cooperation during a visit by President Jair Bolsonaro to Georgetown, in which the South American neighbors also signed infrastructure and legal deals.
7 May 2022, 18:00 PM

Solid job growth continues in recovering US economy

From bars to factories to warehouses, American businesses hired staff with vigor in April as the US economy recovers from the damage done by Covid-19 while grappling with inflation that has hit the highest rate in decades.
7 May 2022, 18:00 PM

New pipeline links Baltics to European gas network

Poland and the Baltic states Thursday inaugurated a new gas pipeline that links the north-eastern EU with the rest of the bloc, a crucial step towards reducing dependence on Russian gas.
7 May 2022, 18:00 PM