Shanghai lockdown to raise transport costs: Maersk

Danish shipper Maersk said the Shanghai lockdown will severely hurt trucking services and increase transport costs, as China’s intensifying efforts to fight the spread of Covid-19 further rattles global supply chains.
29 March 2022, 18:00 PM

Buoyant bitcoin helps market cruise past $2t

As a bleak first quarter draws to a close, crypto seems to have the wind in its sails. It has pushed through the $2 trillion barrier and is proving surprisingly resilient amid global chaos.
29 March 2022, 18:00 PM

Japan to ban Russia-bound exports of luxury cars, goods

Japan will ban the export of high-end cars and other luxury goods to Russia in its latest response to the Russian invasion of Ukraine, the trade ministry said on Tuesday.
29 March 2022, 18:00 PM

Sinopec plans its biggest capital expenditure in history

China Petroleum & Chemical Corp, better known as Sinopec, is planning its highest capital investment in history for 2022 after recording its best profit in a decade, echoing Beijing’s call for energy companies to raise production.
28 March 2022, 18:00 PM

Foreign cash fleeing China adds insult to injury

Beijing’s close ties with Moscow may be rattling foreign investors. A study by the Institute of International Finance found that China has been experiencing “unprecedented” capital flight since Russia invaded Ukraine.
28 March 2022, 18:00 PM

Gazprom wants gas payments in euros from India’s GAIL

Gazprom has asked India’s largest gas transmitter GAIL (India) to pay for gas imports in euros instead of dollars, two sources said, in a sign the Russian energy giant seeks to wean itself away from the US currency in the wake of the Ukraine conflict.
28 March 2022, 18:00 PM

Sri Lanka seeks further $1b credit line from India

Sri Lanka has sought an additional credit line of $1 billion from India to import essentials amid its worst economic crisis in decades, two sources said on Monday, as the Indian foreign minister began talks with the government of its neighbour.
28 March 2022, 18:00 PM

Ukraine exports first grain by train to Europe

Traders have exported the first supplies of Ukrainian corn to Europe by train as the country’s sea ports remain blocked due to the Russian invasion, APK-Inform agriculture consultancy said on Sunday.
27 March 2022, 18:00 PM

India leans toward continued import

India is leaning toward continuing to import coking coal from Russia, the steel minister said on Sunday, seeming to buck a global trend to shun Moscow over its invasion of Ukraine.
27 March 2022, 18:00 PM

China and Nepal study feasibility of cross-border power grid

China and Nepal will conduct a feasibility study to construct a high-voltage power transmission line across the Himalayas to facilitate the exchange of electric power, officials said on Saturday.
27 March 2022, 18:00 PM

Kuwait-Saudi deal to develop gas field illegal: Iran

Iran on Saturday branded  “illegal” a deal reached between Kuwait and Saudi Arabia to develop a disputed gas field in the Gulf, insisting on its right to also exploit it.
27 March 2022, 18:00 PM

Russian sanctions could be lifted with Ukraine withdrawal: UK

British foreign minister Liz Truss says sanctions imposed on Russian individuals and companies could be lifted if Russia withdraws from Ukraine and commits to end aggression, the Telegraph newspaper reported on Saturday.
27 March 2022, 18:00 PM

Pandemic and war rattle globalisation

Globalisation, which has both fans and detractors alike, is being tested like never before after the one-two punch of Covid and war.
27 March 2022, 18:00 PM

Samsung chief’s mother sells stakes to pay taxes

Hong Ra-hee, Samsung Electronics Vice Chairman Lee Jae-yong’s mother, reportedly sold her shares in the company worth 1.3 trillion won ($1.06 billion) in a block trade Wednesday, the latest stake sale by the Samsung family being carried out apparently to pay inheritance taxes.
27 March 2022, 18:00 PM

China industrial profit up but mired in single-digit growth

Profit growth at China’s industrial firms accelerated in the first two months of the year in line with other signs of momentum in the economy, although the outlook is clouded by domestic Covid-19 outbreaks and the war in Ukraine.
27 March 2022, 18:00 PM

US durable goods end streak of gains in Feb

Orders for big-ticket manufactured goods fell for the first time in five months in February amid a slump in business for civilian aircraft manufacturers, US government data said Thursday.
26 March 2022, 18:00 PM

Gas bills in roubles are just days away

Russia warned the West on Friday that billing in roubles for billions of dollars of natural gas exports to Europe could be just days away, Moscow’s toughest response yet to crippling sanctions imposed by the West for the invasion of Ukraine.
26 March 2022, 18:00 PM

Sri Lanka fuel prices soar as economy reels

One of Sri Lanka’s biggest fuel suppliers hiked the price of gasoline by nearly 20 per cent on Saturday, the second increase in as many weeks, as the country struggles to import oil without dollars.
26 March 2022, 18:00 PM

Ukraine war knocks German business confidence

The business climate in Europe’s top economy worsened in March, German survey data showed Friday, amid fears over soaring energy prices and deepening supply chain woes due to the Ukraine invasion.
26 March 2022, 18:00 PM

Bitcoin price boosted by possible Russia gas payment

Bitcoin on Friday rose above $45,000, boosted by talk that the Kremlin could accept the world’s biggest cryptocurrency in exchange for Russian gas.
26 March 2022, 18:00 PM