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Global Economy
Johnson to talk trade in India next week
UK Prime Minister Boris Johnson is to travel to India next week to discuss trade and security with his counterpart Narendra Modi, who has taken a neutral stance on Russia’s war in Ukraine.
17 April 2022, 18:00 PM
EU embargo on Russian oil, gas will take ‘months’
The EU is working on broadening sanctions on Russia to include oil and gas embargoes but such measures would take “several months”,European officials told AFP on Friday.
16 April 2022, 18:00 PM
US ties N Korean hacker group to huge cryptocurrency theft
The United States has linked North Korean hackers to the theft of hundreds of millions of dollars’ worth of cryptocurrency tied to the popular online game Axie Infinity, the US Treasury Department said on Thursday.
16 April 2022, 18:00 PM
China’s growth under threat for Covid
The mounting cost of China’s zero-Covid policy threatens to derail Beijing’s ambitious GDP target, analysts say, as supply chains snarl, ports face delays and Shanghai remains mired in lockdown.
16 April 2022, 18:00 PM
Gazprom continues gas exports to Europe
Russian state-owned gas producer Gazprom continued to supply natural gas to Europe via Ukraine on Saturday at the pace of 74.6 million cubic metres per day, in accordance with requests from European consumers, the company said.
16 April 2022, 18:00 PM
Elon Musk’s move to buy Twitter faces roadblocks
Even for the richest person on the planet, buying Twitter was always going to be a challenge –- a highly complex financial transaction now made even trickier by a defensive “poison pill” move from the platform’s board.
16 April 2022, 18:00 PM
Sri Lanka rations fuel
Cash-strapped Sri Lanka imposed fuel rationing on Friday in another worsening of the economic crisis that has sparked widespread demonstrations calling for President Gotabaya Rajapaksa’s resignation.
16 April 2022, 18:00 PM
China’s Covid curbs threaten global supply chain paralysis
China’s race to stop the spread of Covid-19 is clogging highways and ports, stranding workers and shutting countless factories - disruptions that are rippling through global supply chains for goods ranging from electric vehicles to iPhones.
13 April 2022, 18:00 PM
China’s trade with Russia slows
China’s overall trade with Russia rose over 12 per cent in March from a year earlier, slowing from February but still outpacing the growth in China’s total imports and exports, as Beijing slammed Western sanctions on Russia following its invasion of Ukraine.
13 April 2022, 18:00 PM
As EU eyes stopping Russian gas imports, Israel sees an opening
As Europe aims to wean itself off Russian fossil fuel because of the Ukraine invasion, Israel hopes to help fill the gap with gas from its offshore reserves.
12 April 2022, 18:00 PM
Global growth optimism at all-time low: survey
Optimism among fund managers over global economic growth has hit an all-time low while concerns of possible stagflation have risen to the highest since August 2008, a monthly survey by investment bank BoFA Securities showed on Tuesday.
12 April 2022, 18:00 PM
Nokia to stop doing business in Russia
Telecoms equipment maker Nokia is pulling out of the Russian market, its CEO told Reuters, going a step further than rival Ericsson , which said on Monday it was indefinitely suspending its business in the country.
12 April 2022, 18:00 PM
War could halve 2022 global trade growth: WTO
Russia’s war in Ukraine could almost halve world trade growth this year and drag down global GDP growth too, the World Trade Organisation projected Monday.
12 April 2022, 18:00 PM
OPEC to EU: Nearly impossible to replace loss from Russian oil supply sanctions
OPEC told the European Union on Monday that current and future sanctions on Russia could create one of the worst ever oil supply shocks and it would be impossible to replace those volumes, and signalled it would not pump more.
12 April 2022, 06:46 AM
Indian sari weavers toil to keep tradition alive
In a dim room near the banks of India’s Ganges river, arms glide over a creaking loom as another silken fibre is guided into place with the rhythmic clack of a wooden beam.
11 April 2022, 18:00 PM
Ericsson suspends all Russia operations
Swedish network equipment maker Ericsson said Monday that it was suspending all of its Russian operations over the war in Ukraine for the foreseeable future.
11 April 2022, 18:00 PM
US corporate earnings face uncertain outlook
An aggressive Federal Reserve, soaring inflation and geopolitical uncertainty from the war in Ukraine are muddying the outlook for the upcoming US earnings season, leaving some strategists wary of surprises as corporate results kick off this week.
11 April 2022, 18:00 PM
War to slash Ukraine’s GDP output by 45pc: WB
Ukraine’s economic output will likely contract by a staggering 45.1 per cent this year as Russia’s invasion has shuttered businesses, slashed exports and rendered economic activity impossible in large swaths of the country, the World Bank said on Sunday.
11 April 2022, 18:00 PM
AIG may cut insurance for Russia, Ukraine
AIG, one of the world’s biggest commercial insurers, is considering cutting cover for Russia and Ukraine, to shield itself from the risk of hefty claims as sanctions ratchet up and the war drags on, an insurance broker and a source familiar with the matter said.
11 April 2022, 18:00 PM
China’s inflation tops forecasts as supply pressures worsen
China’s factory-gate and consumer prices rose faster than expected in March as Russia’s invasion of Ukraine, persistent supply chain bottlenecks and production snags caused by local Covid flare-ups added to commodity cost pressures.
11 April 2022, 18:00 PM