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

Britain hands $621 mln to Tata Steel, 3,000 jobs could go

Britain is to pump 500 million pounds ($621 million) into Tata Steel (TISC.NS) to decarbonise its Welsh site, in a deal aimed at securing the future of the country's steel industry but which puts as many as 3,000 jobs at risk.
17 September 2023, 07:05 AM

Fed unlikely to raise rates in November, says Goldman Sachs

The Federal Reserve is unlikely to raise interest rates at its Oct. 31-Nov. 1 meeting, Goldman Sachs strategists wrote on Saturday, while also forecasting the US central bank would lift its economic growth projections when policymakers gather next week.
17 September 2023, 06:10 AM

Rupee weakens slightly

The Indian rupee weakened slightly on Friday, weighed by crude marking fresh year-to-date highs but the downside was likely capped by dollar selling orders and expected equity inflows.
16 September 2023, 18:00 PM

Dollar down

The US dollar was lower on Friday, after data showing a dip in consumer sentiment, but the greenback was still poised for a ninth straight week of gains, while the yen weakened to a 10-month low.
16 September 2023, 18:00 PM

Gold price rises 1%

Gold jumped 1 percent on Friday, helped by a weaker dollar and safe-haven buying after United Auto Workers union kicked of strikes at three automakers in Detroit, while hopes around a likely pause in US interest-rate hikes lent further support.
16 September 2023, 18:00 PM

China retail sales surge in August

Chinese retail sales jumped last month, data showed Friday, beating expectations and fuelling hopes that consumers are helping kickstart the world’s second-biggest economy.
16 September 2023, 18:00 PM

EU unafraid of trade war with China

The EU insisted on Friday that its economy could survive any retaliation from China, after Beijing warned that Brussels’ probe into Chinese electric car subsidies would harm trade relations.
16 September 2023, 18:00 PM

Indonesia’s rice imports spike

Indonesia recorded a large increase in rice imports in the first eight months this year compared to the same period last year, the statistics agency said Friday, as Southeast Asia’s biggest economy seeks to boost stocks of its staple commodity.
16 September 2023, 18:00 PM

Toyota expects record sales in India

Toyota Motor Corp is on track for record annual sales in India, a senior executive told Reuters, as its partnership with Suzuki Motor, which has a portfolio of affordable cars, attracts a new set of buyers.
16 September 2023, 18:00 PM

India’s trade deficit widens in August

India’s merchandise trade deficit in August was wider than expected and stood at $24.16 billion, according to a Reuters calculation based on export and import data released by the government on Friday.
16 September 2023, 18:00 PM

Poland, Hungary, Slovakia to introduce own bans on Ukraine grains

Poland, Slovakia and Hungary announced their own restrictions on Ukrainian grain imports on Friday after the European Commission decided not to extend its ban on imports into Ukraine's five EU neighbours.
16 September 2023, 08:36 AM

Fed losses breach $100 billion as interest costs rise

Federal Reserve losses breached the $100 billion mark, central bank data released on Thursday showed, and they're likely to go a lot higher before the red ink stops.
16 September 2023, 07:33 AM

Ukraine lowers key interest rate to 20%

Ukraine’s central bank cut its key interest rate on Thursday to 20 percent to support economic recovery after nearly 19 months of war with Russia, and signalled further reductions were possible.
14 September 2023, 18:00 PM

Oil hits 2023 highs

Oil rebounded on Thursday, with Brent crude topping $93 a barrel for the first time this year, as expectations of a tighter supply outlook for the rest of 2023 overshadowed concerns over weaker economic growth and rising US inventories.
14 September 2023, 18:00 PM

Tata Motors tests export markets for EVs

Tata Motors, India’s biggest electric carmaker, is testing its electric vehicles in some global markets where it could look at a potential launch if the experiment succeeds, its managing director told Reuters.
14 September 2023, 18:00 PM

Japan sees positive signs to escape deflation

Japan’s new Economy Minister Yoshitaka Shindo said on Thursday that positive signs were emerging in output gaps and other areas for the economy to escape deflation.
14 September 2023, 18:00 PM

Interest rate cliffhanger as ECB mulls hike or pause

Eurozone interest rate setters face the toughest call of their long battle against red-hot inflation Thursday, when they decide whether to raise borrowing costs again or finally pause the unprecedented hiking campaign.
14 September 2023, 18:00 PM

Oil rebounds as markets refocus on supply tightness

Oil prices rebounded on Thursday as markets turned their attention back to a tighter crude supply outlook for the rest of 2023 with demand set to stay robust through to next year.
14 September 2023, 07:04 AM

EU to assess punitive tariffs on Chinese electric cars

The European Commission started an investigation on Wednesday to into whether to impose tariffs to protect the European Union against Chinese electric vehicle (EV) imports benefiting from state subsidies.
13 September 2023, 18:00 PM