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

Fed makes biggest rate hike since 2000

The Federal Reserve announced its biggest rate hike since 2000, with a half percentage point increase as it works to crush soaring US inflation.
7 May 2022, 18:00 PM

Covid rules batter China’s business confidence

China’s strict zero-Covid policy has led to a plunge in confidence among European companies operating in the country as supply chains are tangled, revenue projections fall and staff leave, according to a business group survey released Thursday.
7 May 2022, 18:00 PM

Turkey inflation spirals to 70pc

Turkey’s official inflation rate spiralled to nearly 70 per cent in April, data showed on Thursday, posing a huge challenge to President Recep Tayyip Erdogan, whose unconventional economic policies are often blamed for the economic turmoil.
7 May 2022, 18:00 PM

Reliance rakes in $100b annual revenue

Reliance Industries became the first Indian company to cross $100 billion in annual revenues after the oil-to-telecoms giant reported strong quarterly results across its energy, telecoms and retail businesses Friday.
7 May 2022, 18:00 PM

US, Chinese regulators in talks for audit deal

US and Chinese regulatory officials are in talks to settle a long-running dispute over the auditing compliance of US-listed Chinese firms, three people briefed on the matter told Reuters.
7 May 2022, 18:00 PM

French growth crashes to zero in first quarter

The French economy flatlined in the first quarter as households reduced their consumption due to rising inflation and the war in Ukraine, the national statistics agency said Friday.
30 April 2022, 18:00 PM

Musk told banks he will rein in Twitter pay

Elon Musk told banks that agreed to help fund his acquisition of Twitter that he would crack down on executive and board pay to slash costs while monetising tweets, according to people familiar with the matter.
30 April 2022, 18:00 PM

Big Fed rate hikes ahead

US Federal Reserve policymakers look set to deliver a series of aggressive interest rate hikes at least until the summer to deal with hot inflation and surging labour costs, even as two reports Friday showed tentative signs both may be cresting.
30 April 2022, 18:00 PM

Panama passes bill to permit use of crypto assets

Lawmakers in Panama’s National Assembly on Thursday approved a bill to regulate the use and commercialisation of crypto assets in the Central American country renowned as a hub of offshore financial services.
30 April 2022, 18:00 PM

Apple sees bigger supply problems

Apple Inc on Thursday forecast bigger problems as COVID-19 lockdowns snarl production and demand in China, the war in Ukraine dents sales and growth slows in services, which the iPhone maker sees as its engine for expansion.
30 April 2022, 18:00 PM

Russia makes last-gasp dollar bond payments

Russia made what appeared to be a late u-turn to avoid a default on Friday, as it made a number of already-overdue international debt payments in dollars despite previously vowing they would only be paid in roubles.
30 April 2022, 18:00 PM

Germany skirts recession with Q1 growth

The German economy grew by 0.2 per cent in the first quarter of 2022, official figures published Friday showed, swerving a technical recession after ending 2021 on a downwards note.
30 April 2022, 18:00 PM

Omicron, imports may restrain US growth

US economic growth likely slowed sharply in the first quarter as a wave of Covid-19 cases curbed activity, but retained sufficient underlying strength to keep the expansion on track amid headwinds from soaring inflation and rising interest rates.
28 April 2022, 18:00 PM

Global inflation to stay stubbornly high: poll

The global streak of high inflation is far from over and aggressive monetary policy tightening will fall short in taming price pressures to mandated levels as broken supply chains are unlikely to mend anytime soon, Reuters polls showed.
28 April 2022, 18:00 PM

Indonesia bans all exports of palm oil

Indonesia began imposing a complete ban on palm oil exports Thursday, as the world’s largest producer of the commodity risked destabilising a global vegetable oil market already hitting peak prices.
28 April 2022, 18:00 PM

Eurozone inflation close to peak

A surge in eurozone consumer prices, propelled even higher by Russia’s invasion of Ukraine, is “very close” to reaching its peak, European Central Bank vice-president Luis de Guindos said Thursday.
28 April 2022, 18:00 PM

WB to give Sri Lanka $600m in financial aid

The World Bank has agreed to provide Sri Lanka with $600 million in financial assistance to help meet payment requirements for essential imports, the Sri Lankan president’s media division said in a statement on Tuesday.
27 April 2022, 18:00 PM

Oil prices sink more than 5pc

World oil prices sank more than five percent Monday on fears that China’s worsening Covid outbreak could slam demand from the major energy consumer.
26 April 2022, 18:00 PM

Germany boosts borrowing to tackle war costs

Germany will take on an additional 39.2 billion euros ($42.1 billion) of debt in 2022 to counter the economic impact of the war in Ukraine, sources in the finance ministry said Monday.
26 April 2022, 18:00 PM