Euro zone recovery regains pace

The euro zone economic recovery regained momentum this month as an easing of coronavirus restrictions gave a boost to the bloc’s dominant service industry, a survey showed, but consumers faced prices rising at a record rate.
21 February 2022, 18:00 PM

Luxury sector undaunted by Covid, soaring inflation

The pandemic and soaring inflation have done nothing to take the shine off luxury brands, from Louis Vuitton to Gucci and Cartier, as the sector hiked prices to notch up stellar profits.
21 February 2022, 18:00 PM

Nickel prices soar on Russia tension

Nickel surged Monday to the highest price in more than 10 years, driven by simmering Ukraine-Russia tensions and tight supplies.
21 February 2022, 18:00 PM

China sanctions Lockheed, Raytheon again

China has placed Lockheed Martin Corp and Raytheon Technologies Corp under sanctions over arms sales to Taiwan, the government said on Monday, at least the third time it has announced punishments against the US companies.
21 February 2022, 18:00 PM

Russia seeks to regulate cryptocurrencies

The Russian finance ministry said Monday it had submitted draft legislation regulating cryptocurrencies, including client identification and a cap on investments.
21 February 2022, 18:00 PM

Turkey woos foreign firms

There is a silver lining to Turkey’s currency crisis and the global supply chain crunch: The country is becoming an attractive alternative at the gates of Europe for foreign firms.
21 February 2022, 18:00 PM

Kuwait Airways signs $6b deal with Airbus

Kuwait Airways announced Monday an expanded $6 billion deal with Airbus for 31 planes, restructuring an agreement reached in 2014. q
21 February 2022, 18:00 PM

Germany to enter recession due to virus

The Bundesbank said on Monday the latest wave of the coronavirus pandemic risked pushing the German economy -- Europe’s largest -- into a technical recession before staging a recovery from the second quarter.
21 February 2022, 18:00 PM

US plans to cut ties with targeted Russian banks if Ukraine is invaded

President Joe Biden’s administration has prepared an initial package of sanctions against Russia that includes barring U.S. financial institutions from processing transactions for major Russian banks, three people familiar with the matter said.
21 February 2022, 18:00 PM

Oil rises as tight market looks to Russian-Western diplomacy

Oil prices rose slightly on Monday as fresh diplomatic efforts to resolve the Ukraine crisis provided some relief from supply concerns that have kept oil prices near $100 a barrel.
21 February 2022, 18:00 PM

China’s digital currency push faces uphill battle

At Beijing Winter Games venues, China’s digital currency has been designated as an official payment method.
21 February 2022, 18:00 PM

Amazon, Reliance lock horns over India’s cricket media rights

Amazon’s rivalry in India with oil-to-retail conglomerate Reliance Industries looks set to head to the cricket field, where they will likely battle media heavyweights for telecast rights to India’s premier cricket league with its hundreds of millions of viewers.
20 February 2022, 18:00 PM

US-UAE push for $4b in climate change investment

The United States and the United Arab Emirates are seeking an additional $4 billion of global investment in an initiative launched last year to make agriculture resilient to climate change and reduce its emissions, a US official said on Sunday.
20 February 2022, 18:00 PM

Saudi Arabia committed to energy market stability

Saudi Arabia is committed to working with its OPEC+ partners to ensure energy-market stability, the country’s foreign minister said on Saturday, adding this required the participation of all members.
20 February 2022, 18:00 PM

WB proposal would shift about $1b from Afghan trust

The World Bank’s management has approved a plan to use some $1 billion in a frozen Afghanistan trust fund for education, agriculture, health and family programs, according to a bank paper and two sources, in what would be a major boost to efforts to ease the country’s worsening humanitarian and economic crises.
20 February 2022, 18:00 PM

UK must deal with Russian money

Britain has an issue with Russian money funnelling through the City of London and it must be dealt with, Prime Minister Boris Johnson said on Sunday.
20 February 2022, 18:00 PM

US takes steps to counter Ukraine crisis, energy costs

There could be a knock-on impact to energy prices paid by American consumers from ongoing tensions between Russia and Ukraine, US Vice-President Kamala Harris said, adding that the US government is working to mitigate the effects.
20 February 2022, 18:00 PM

G20 warned of Ukraine threat to global recovery

The crisis in Ukraine is a serious threat to the global economy’s post-pandemic recovery, Indonesia’s leader on Thursday warned a meeting of finance chiefs from the G20 nations.
19 February 2022, 18:00 PM

EU launches WTO dispute against China

The European Union launched a legal challenge against China at the World Trade Organization on Friday, arguing that Chinese courts were preventing European companies from protecting their telecom technology patents.
19 February 2022, 18:00 PM

India, UAE eye $100b in trade after signing deal

India and the United Arab Emirates signed a broad trade and investment pact on Friday that will eventually cut all tariffs on each other’s goods and aims to increase annual trade between the two nations to $100 billion within five years.
19 February 2022, 18:00 PM