How African apparel industry's future depends on US Congress

Norah Nasimiyu knows the future of Kenya's garment trade, which has employed her for 13 years and helped her put six children through school and university, lies in the hands of the US Congress.
1 November 2023, 06:07 AM

BP rebounds into $4.9b net profit in Q3

British oil giant BP said Tuesday it rebounded strongly into net profit in the third quarter after large accounting charges had pushed it into the red a year earlier.
31 October 2023, 18:00 PM

Samsung sees chip recovery in 2024

Samsung Electronics  on Tuesday said it will continue to cut production to ease a chip supply glut, and gear up for 2024 when it expects industry-wide investment and production to focus on high-end chips for generative artificial intelligence.
31 October 2023, 18:00 PM

Meta to offer ad-free plans in Europe

Meta Platforms  said on Monday it will offer users in Europe a subscription plan to use Facebook and Instagram without advertisements to comply with the European Union regulations.
31 October 2023, 18:00 PM

China snaps up Australian, French wheat as crop damage spurs buying spree

China is set to import record volumes of wheat this year, trading sources say, with rain damage to its crop and worries over dry weather in exporting nations fuelling Beijing's appetite to buy while prices are low.
31 October 2023, 05:47 AM

Global business cycle is in transition

Global economic activity was mixed during the third quarter of 2023, with distinct signs of improvement in the United States and China but continued sluggishness elsewhere.
30 October 2023, 18:00 PM

Toyota’s global production rises

Toyota Motor  said on Monday that worldwide production rose 1.5 percent in September from the same period a year earlier to 900,919 vehicles, boosted by stronger demand in Japan, the United States and in Europe.
30 October 2023, 18:00 PM

G7 ministers hit out at China, Russia

Group of Seven trade ministers took veiled swipes at China and Russia on Sunday while expressing concerns about the economic effect of the conflict in the Middle East.
29 October 2023, 18:00 PM

Chevron’s third-quarter profit slumps

Chevron  on Friday posted a third-quarter profit that missed Wall Street estimates by a wide margin, and its shares fell more than 5 percent.
29 October 2023, 18:00 PM

‘Energy cooperation with EU is pointless’

Russia’s former President, Dmitry Medevedev, was quoted as saying on Sunday that cooperation with Europe in energy matters was frozen or pointless as European countries had fallen on hard times and had poor growth prospects.
29 October 2023, 18:00 PM

Investors on edge as Middle East conflict intensifies

Investors are watching for signs that the conflict in the Middle East may be escalate over the weekend, potentially ratcheting up volatility as investors await a Federal Reserve meeting and key U.S. data in the week ahead.
29 October 2023, 18:00 PM

Huawei extends rebound

Chinese telecoms giant Huawei on Friday announced moderate sales growth for the first nine months of 2023, building on a recovery after its business was hit hard by US sanctions and the pandemic.
28 October 2023, 18:00 PM

Australia ‘hopeful’ of EU trade deal

Australia’s trade minister says he is “hopeful” of striking a free trade deal with the European Union ahead of talks in Japan this weekend, more than five years after negotiations began.
28 October 2023, 18:00 PM

US economy grows faster than expected

The US economy heated up more than expected in the third quarter, government data showed on Thursday, as a resilient job market helped boost consumer spending, holding off the prospect of a recession.
28 October 2023, 18:00 PM

Dollar eases

The dollar edged down against a basket of currencies on Friday, pulled down by portfolio rebalancing, but was on track to end the week higher as fresh data reinforced the view the US economy remains on a firm footing.
28 October 2023, 18:00 PM

China’s industrial profits extend gains

Profits at China’s industrial firms extended gains for a second month in September, adding to signs of a stabilising economy as the authorities launched a burst of supportive policy measures.
28 October 2023, 18:00 PM

Oil prices up 3% on worries about Middle East supplies

Oil prices climbed about 3 percent to a one-week high on Friday on worries that tensions in Israel and Gaza could spread into a wider conflict that could disrupt global crude supplies.
28 October 2023, 07:13 AM

Oil price declines

Oil prices fell on Thursday after a rise in US crude stockpiles and a climb in the dollar index, giving up some ground gained a day earlier when prices jumped on fears of a broader conflict in the Middle East.
26 October 2023, 18:00 PM

Oil price declines

Oil prices fell on Thursday after a rise in US crude stockpiles and a climb in the dollar index, giving up some ground gained a day earlier when prices jumped on fears of a broader conflict in the Middle East.
26 October 2023, 18:00 PM

US Q3 economic growth seen fastest in 2 years

The US economy likely grew in the third quarter at its fastest pace of any quarter in nearly two years, again defying dire warnings of a recession, as higher wages from a tight labor market helped to power consumer spending.
26 October 2023, 18:00 PM