Oil dips as markets shrug off supply jitters

Oil prices reversed course on Wednesday after rising over 1 percent in the previous session, on a firmer dollar and as investors shrugged off jitters arising from supply cuts from Saudi Arabia and Russia.
6 September 2023, 10:41 AM

Dollar holds near 6-month peak on global growth fears

The dollar held close to a six-month peak as jitters over China and global growth weighed on risk appetite, while the yen strengthened as Japan's top currency diplomat sent a warning about the currency after it earlier dropped to a 10-month low.
6 September 2023, 10:24 AM

Gold hits 1-week low

Gold slipped to a one-week low on Tuesday as investors sought the US dollar after weak data in China, although rising expectations for a pause in interest rate increases by the US Federal Reserve limited losses.
5 September 2023, 18:00 PM

Oil price drops

Oil prices dipped on Tuesday as fresh data added to gloom over the state of China’s post-pandemic recovery, although expectations of an extension in supply cuts by leading Opec+ producers limited losses.
5 September 2023, 18:00 PM

UNIDO launches project on circular economy value chains

The United Nations Industrial Development Organisation (UNIDO) yesterday launched a project titled “SWITCH to Circular Economy Value Chains (SWITCH2CE)” in Bangladesh to steer the textiles and garments sector toward sustainable circular practices.
5 September 2023, 18:00 PM

Rupee weakens to nearly 2-week low

The Indian rupee closed weaker on Tuesday as the local unit slipped to the 83 level for the first time in nearly two weeks due to broad weakness in Asian currencies and likely dollar outflows.
5 September 2023, 18:00 PM

Japan household spending suffers big drop

Japanese household spending suffered its biggest drop in nearly 2-1/2 years squeezed by rising prices, although volatility in some items meant the outlook might not be as gloomy as the headline figures suggested.
5 September 2023, 18:00 PM

Russia upends global grain trade

Russia has cemented its position as the world’s top grain exporter with the help of a bumper harvest and cut-rate prices while its war in Ukraine has upended the market.
5 September 2023, 18:00 PM

India’s services growth slows

Growth in India’s dominant services industry lost some steam in August but overall conditions remained strong despite elevated inflationary pressures, according to a business survey that showed exports were at a record high on robust foreign demand.
5 September 2023, 18:00 PM

China to launch $40b fund to boost chip industry

China is set to launch a new state-backed investment fund that aims to raise about $40 billion for its semiconductor sector, two people familiar with the matter said, as the country ramps up efforts to catch up with the US and other rivals.
5 September 2023, 18:00 PM

Egypt buys nearly half a million tonnes of Russian wheat in private deal

Egypt's state grains buyer bought about a half a million tonnes of Russian wheat in a private deal, four traders told Reuters, succeeding in negotiating lower prices than those offered in the more traditional tenders.
5 September 2023, 06:24 AM

Video game development industry at a crossroads

In the global entertainment business landscape, the video games industry has not just grown, it has exploded, eclipsing even the combined revenues of the film and music industries.
5 September 2023, 00:00 AM

Western companies weigh pros and cons

Should they stay or should they go now? Eighteen months after the start of the war in Ukraine, many Western companies in Russia are still assessing the pros and cons.
4 September 2023, 18:00 PM

German exports remain volatile

German exports fell again in July after a slight rebound in June, official data showed on Monday, as Europe’s biggest economy battles an industrial slowdown.
4 September 2023, 18:00 PM

Half of large Swiss firms faced cyberattacks: study

Nearly half of large companies in Switzerland have already fallen victim to cyberattacks, often with dire consequences, according to a study published Monday.
4 September 2023, 18:00 PM

India steps up coal use to fight outages

India has stepped up the use of coal to generate electricity in a bid to stop outages caused by lower hydroelectricity output, and as an increase in renewables is struggling to keep pace with record power demand.
4 September 2023, 18:00 PM

Tesla, Chinese EV brands jostle for limelight at German fair

One of the world’s biggest auto shows opened in Munich on Monday, with Tesla ending a 10-year absence to jostle for the spotlight with Chinese rivals as the race for electric dominance heats up.
4 September 2023, 18:00 PM

With grain deal in focus, Putin to meet Erdogan in Russia

Turkish President Tayyip Erdogan will try to convince Kremlin chief Vladimir Putin to return to a Ukraine grain export deal that helped ease a global food crisis, when the two leaders meet in Russia's Black Sea resort of Sochi on Monday.
4 September 2023, 07:44 AM

Oil steady amid OPEC+ supply cut expectations

Oil prices were stable on Monday, amid expectations that major producers would keep supplies tight, as hopes grew for the Federal Reserve to leave interest rates unchanged to avoid dampening the US economy.
4 September 2023, 07:17 AM

Nepalis hit by rising prices

While a series of measures by India to tighten food, exports has pushed up local prices, the government is making life harder for Nepalis by increasing taxes on food, say analysts.
3 September 2023, 18:00 PM