Most Gulf bourses in red on Omicron worries

Most Gulf stock markets fell in early trade on Sunday, responding to a slide in crude prices on Friday as surging cases of the Omicron coronavirus variant raised fears that new restrictions may hit fuel demand.
19 December 2021, 18:00 PM

China to tighten antitrust legal enforcement

China’s antimonopoly bureau will step up legal enforcement against monopolistic behaviour and push forward the amended antimonopoly law to improve the regulatory framework, said Gan Lin, chief of the national antimonopoly bureau.
19 December 2021, 18:00 PM

‘Super Saturday’ set to lure last-minute shoppers in US

US retailers opened their doors on Saturday to what they hope will be swarms of shoppers searching for last-minute holiday gifts, despite surging cases of the coronavirus, including the new, highly-contagious Omicron variant.
19 December 2021, 18:00 PM

China’s property distress sours steel sector

Debt problems at a major Chinese property developer have now spilled over into a vital artery of the nation’s industrial engine - the steel sector - and started to ripple through to other critical parts of the world’s second-largest economy.
19 December 2021, 18:00 PM

British hospitality businesses reel from Omicron surge

Britain’s pandemic-weary hospitality businesses have taken a fresh hit from soaring coronavirus cases fueled by the Omicron variant, as anxious customers curtail socialising and cancel bookings over the Christmas period.
18 December 2021, 18:00 PM

Fitch downgrades Sri Lanka as default fears mount

International ratings agency Fitch downgraded cash-strapped Sri Lanka Saturday due to mounting fears of a sovereign default on its $26 billion foreign debt, but Colombo insisted it will meet its obligations.
18 December 2021, 18:00 PM

China’s factories speed up but new Covid pain hits retailers

China’s factory output grew faster than expected in November, supported by stronger energy production and a moderation in sky-high materials costs, but new curbs to fight rising Covid-19 cases hit retailers in the world’s second-largest economy.
18 December 2021, 18:00 PM

S&P dumps Chinese property giant Evergrande into default

The poster child of China’s property crisis China Evergrande Group was officially declared in default by credit rating agency S&P Global on Friday after the sprawling firm missed a bond payment earlier this month.
18 December 2021, 18:00 PM

Qantas turns to Airbus for domestic fleet

Australian flag carrier Qantas on Thursday announced a deal to buy 40 Airbus aircraft, to renew its domestic fleet.
16 December 2021, 18:00 PM

ECB begins step-by-step stimulus exit

The European Central Bank on Thursday said it would wind down pandemic-era bond buys as the eurozone comes under pressure from soaring inflation, even as concerns grow about the fast-spreading Omicron variant of the coronavirus.
16 December 2021, 18:00 PM

ECB plots stimulus exit as inflation looms

European Central Bank policymakers were to gather on Thursday for a crunch meeting, as soaring inflation heaps pressure on the bank to wind down its stimulus just as a new coronavirus variant threatens to derail the recovery.
16 December 2021, 18:00 PM

China’s retail sales growth eases, factory output picks up

China’s retail sales grew slower than expected in November with consumers cautious as domestic coronavirus cases rose, official data showed Wednesday, but industrial output picked up after power shortages eased.
15 December 2021, 18:00 PM

China outbreak prompts major business shutdown

China’s economically important Zhejiang province wrestled on Tuesday with a Covid outbreak that has caused some districts to shut down businesses and left hundreds of thousands of people facing quarantine or other restrictions.
15 December 2021, 18:00 PM

Japan admits overstating some govt economic data for years

The Japanese government overstated construction orders data received from builders for years, Prime Minister Fumio Kishida said on Wednesday, an admission that could dent credibility of official statistics widely used by investors and economists.
15 December 2021, 18:00 PM

Preferential trade deal with Nepal soon

The government will sign a preferential trade agreement (PTA) with Nepal soon to boost trade between the two South Asian nations, Commerce Secretary Tapan Kanti Ghosh said yesterday.
14 December 2021, 18:00 PM

IEA sees more comfortable year for oil market in 2022

The Omicron coronavirus variant will slow the recovery in global demand for oil but the market will be “more comfortable” in 2022, the International Energy Agency said on Tuesday.
14 December 2021, 18:00 PM

ADB trims Asia growth forecasts

The Asian Development Bank warned Tuesday that the highly mutated Omicron coronavirus variant could have a  “substantial” economic impact, as it trimmed its 2021 and 2022 growth forecasts for developing Asia.
14 December 2021, 18:00 PM

Toyota boosts electric vehicle sales target

Toyota hiked its electric vehicle sales goal by 75 per cent on Tuesday, unveiling a more ambitious plan for the sector as part of efforts to drive down carbon emissions.
14 December 2021, 18:00 PM

India’s November retail inflation climbs to 4.91pc

India’s retail inflation accelerated in November, led by a rise in food prices, but remained within the medium-term target of the central bank, strengthening views that the bank could keep interest rates on hold at its next meeting in February.
14 December 2021, 18:00 PM

Omicron's impact: ADB trims growth forecasts for Asia

The Asian Development Bank warned Tuesday that the highly mutated Omicron coronavirus variant could have a "substantial" economic impact, as it trimmed its 2021 and 2022 growth forecasts for developing Asia.
14 December 2021, 07:05 AM