Canada may renew policy framework amid inflation worries

The Bank of  Canada was to renew its monetary policy framework on Monday,  leaving its inflation target unchanged at 2% as concern about the cost  of living rises and the COVID-19 outlook remains uncertain.
13 December 2021, 18:00 PM

Saudi Arabia sees first budget surplus since 2014

Saudi Arabia approved its 2022 budget on Sunday, projecting a surplus for the first time since oil prices collapsed in 2014.
13 December 2021, 18:00 PM

Afghan currency slides sharply

Afghanistan’s growing economic crisis deepened on Wednesday as the afghani currency fell to the hitherto unseen level of 125 to the dollar, less than a week after breaching 100, adding to growing pressure on prices of food and other staples.
13 December 2021, 18:00 PM

Taiwan’s energy security on the line with LNG referendum

Taiwanese voters will decide this Saturday on a new LNG terminal considered key for the chipmaking powerhouse to secure its energy supply but facing attacks from conservationists -- and from an opposition party eager to wrong-foot the government.
13 December 2021, 18:00 PM

Asia stocks steady after Wall St rally

Asia stocks held steady yesterday, despite a record-smashing lead from Wall Street, ahead of a week of major monetary policy announcements around the world.
13 December 2021, 18:00 PM

US expects $50b economic drag in 2022 due to floods

American businesses stand to lose more than 3 million days of operations from flooding in 2022 and will face worsening economic fallout in the coming decades as climate change fuels ever more extreme weather events, researchers said yesterday.
13 December 2021, 18:00 PM

Shipping costs: another danger for inflation-watchers to navigate

Much like the coronavirus pandemic, and the economic disruption that it has caused, a global shipping crisis looks set to go on delaying goods traffic and fuelling inflation well into 2023.
12 December 2021, 18:00 PM

IMF, 10 countries simulate cyberattack on global financial system

Israel on Thursday led a 10-country simulation of a major cyberattack on the global financial system in an attempt to increase cooperation that could help to minimise any potential damage to financial markets and banks.
12 December 2021, 18:00 PM

Malaysia charges Dyson supplier ATA with labour law violations

Malaysia has charged Dyson supplier ATA IMS with four violations of labour law on accommodation for workers as it investigates complaints of forced labour, authorities said on Saturday.
12 December 2021, 18:00 PM

Canada threatens trade action over Biden electric car plan

Canada on Friday threatened to impose sweeping tariffs on American goods and suspend parts of a landmark North American trade deal if Washington rewards electric cars made in US union shops, to the detriment of Canada’s auto sector.
12 December 2021, 18:00 PM

Intel shows research for packing more computing power into chips

Research teams at Intel Corp on Saturday unveiled work that the company believes will help it keep speeding up and shrinking computing chips over the next ten years, with several technologies aimed at stacking parts of chips on top of each other.
12 December 2021, 18:00 PM

Canadian agri research organisation opens Dhaka regional office

A regional office of the Global Institute for Food Security, a research organisation of University of Saskatchewan in Canada, was opened in Dhaka yesterday to help the country’s agricultural researchers gain advanced knowledge and skills.
12 December 2021, 18:00 PM

Vietnam car company Vingroup starts work on $174m EV battery plant

Vietnam’s biggest conglomerate Vingroup said on Sunday it had started building a $174 million battery cell plant for its VinFast electric vehicles business so the company can own its battery supply chain.
12 December 2021, 18:00 PM

Illegal but essential, migrants recycle Istanbul’s waste

Shrouded by acrid smoke, a young Afghan crouches sorting waste he has pulled from the trash bins of Istanbul, anxious that Turkey will soon strip him of even this subsistence.
12 December 2021, 18:00 PM

Malaysia’s palm oil producers adjust to labour shortages

Malaysia’s palm oil producers are racing to adjust to an acute shortage of workers due to the coronavirus and sharply higher costs of recruitment as they make changes in response to accusations of forced labour.
12 December 2021, 18:00 PM

Biden orders US to stop financing new carbon-intense projects abroad

The Biden administration has ordered US government agencies to immediately stop financing new carbon-intensive fossil fuel projects overseas and prioritize global collaborations to deploy clean energy technology, according to US diplomatic cables.
12 December 2021, 18:00 PM

Dubai welcomes 4.88m visitors in Jan-Oct

Dubai welcomed 4.88 million visitors in the period January- October 2021, its Department of Economy and Tourism (DET) said on Saturday, adding that international visitors in the month of October alone had exceeded one million.
11 December 2021, 18:00 PM

Shell shareholders back plan to switch headquarters to UK

Shell shareholders on Friday overwhelmingly backed plans to switch the oil giant’s headquarters from the Netherlands to Britain after a century and drop Royal Dutch from the name.
11 December 2021, 18:00 PM

Europe’s car industry too reliant on other regions: Bosch chair

Europe’s automotive sector has become too reliant on Asia and other regions for vital components such as semiconductors and battery cells, Bosch’s outgoing chairman told a German newspaper.
11 December 2021, 18:00 PM

Fed experiment offers historic bet on a soft landing from high prices

The US Federal Reserve’s experiment with running a “hot” economy has edged into historically uncharted territory, with an unemployment rate never reached without associated central bank rate increases and now levels of inflation that in the past also prompted a policy response.
11 December 2021, 18:00 PM