US jobs market solid

The US labor market is remarkably solid despite aggressive interest rate hikes to fight inflation and a recent rise in unemployment, but analysts warn that the central bank risks pushing too far.
19 September 2023, 18:00 PM

Oil prices rise on supply deficit concerns

Oil prices rose on Tuesday for the fourth consecutive session, as weak shale output in the United States spurred further concerns about a supply deficit stemming from extended production cuts by Saudi Arabia and Russia.
19 September 2023, 07:22 AM

Coal from Russian-annexed Ukraine sold in NATO member Turkey - data, sources

At least $14.3 million worth of coal produced in areas of Ukraine annexed by Russia has been exported to NATO member Turkey this year, according to Russian customs data reviewed by Reuters.
19 September 2023, 06:54 AM

Tesla reinvents carmaking with quiet breakthrough

Tesla has combined a series of innovations to make a technological breakthrough that could transform the way it makes electric vehicles and help Elon Musk achieve his aim of halving production costs, five people familiar with the move said.
18 September 2023, 18:00 PM

Oil price rises

Oil prices rose for a third straight session on Monday, buoyed by forecasts of a widening supply deficit in the fourth quarter after Saudi Arabia and Russia extended cuts and by optimism about a recovery in demand in China.
18 September 2023, 18:00 PM

Dollar hovers near 6-month high

The US dollar hovered near a six-month high on Monday as traders looked ahead to interest rate decisions from the Federal Reserve, the Bank of England and the Bank of Japan this week.
18 September 2023, 18:00 PM

Alibaba plans to invest $2b in Turkey

Chinese e-commerce giant Alibaba Group Holding Ltd has told Turkish President Tayyip Erdogan it plans to invest $2 billion in Turkey.
18 September 2023, 18:00 PM

Russia, China to build oil transshipment complex

Russia’s United Oil- and Gas-Chemical Co and China’s Xuan Yuan Industrial Development have agreed to jointly invest 5 billion yuan ($686 million) in construction of a transshipment oil complex in Russia’s far east, the Roscongress fund said on Monday.
18 September 2023, 18:00 PM

Fed wants to cool spending

US Federal Reserve officials, who have tentatively embraced the possibility they can squelch inflation without a recession, meet this week with an autoworkers strike, a possible federal government shutdown, and a student loan squeeze on consumers posing new risks to that best-case outcome.
18 September 2023, 18:00 PM

Foxconn aims to double jobs, investment in India

Apple supplier Foxconn aims to double its workforce and investment in India by next year, a company executive said on Sunday.
18 September 2023, 18:00 PM

German economy to shrink in Q3

The German economy is likely to shrink this quarter as industry is in recession and private consumption is adding little to growth, the Bundesbank said in a monthly economic report on Monday.
18 September 2023, 18:00 PM

Oil rises on supply concerns, China demand recovery

Oil prices rose for a third straight session on Monday, buoyed by forecasts of a widening supply deficit in the fourth quarter after Saudi Arabia and Russia extended cuts and on optimism of a demand recovery in China, the world's top crude importer.
18 September 2023, 06:26 AM

Russia raises key rate

Russia’s central bank raised its key interest rate for the third time in two months on Friday as it grapples with higher inflation and a weaker rouble.
17 September 2023, 18:00 PM

PIA struggling to pay bills

Pakistan’s national flag carrier admitted Friday it was struggling to pay bills and wages after local media reports said the fleet may be grounded within days.
17 September 2023, 18:00 PM

Canadian dollar posts big gain

The Canadian dollar weakened against its US counterpart on Friday, but the currency held on to much of its weekly gain as oil prices rose and investors turned attention to domestic inflation data.
17 September 2023, 18:00 PM

Fed unlikely to pause rate hikes

The US Federal Reserve is widely expected to hold interest rates steady on Wednesday after a summer of mixed economic data, while leaving the door open to another hike if needed.
17 September 2023, 18:00 PM

Sri Lanka’s economy shrinks 3.1% in Q2

Sri Lanka’s economy shrank 3.1 percent in the April-June quarter, official data showed on Friday, as the country struggles to claw out of its worst financial crisis in decades.
17 September 2023, 18:00 PM

JP Morgan, ANZ raise China GDP forecast

JP Morgan and ANZ on Friday raised their 2023 economic growth forecast for China, after August economic numbers offered some signs of stabilisation in the world’s second-largest economy.
17 September 2023, 18:00 PM

US renewable energy capacity could triple in 10 years

United States’ annual renewable energy capacity could triple in 10 years to 110 gigawatts (GW) as clean-energy law powers more investment in the sector, research and consultancy firm Wood Mackenzine said on Wednesday.
17 September 2023, 18:00 PM

Western firms shift investment from China to India as worries mount

US and European firms are shifting investment away from China to other developing markets, a report from Rhodium Group showed, with India receiving the vast majority of this redirected foreign capital, followed by Mexico, Vietnam and Malaysia.
17 September 2023, 07:18 AM