Canada posts surprise GDP decline

Canada’s economy saw an unexpected 0.2 percent annualized decline in the second quarter, government data showed Friday, as housing investment and consumption slowed.
3 September 2023, 18:00 PM

‘China to widen market access for service industry’

Chinese President Xi Jinping said on Saturday that China would widen market access in the service industry and promote cross-border services trade.
3 September 2023, 18:00 PM

Some US shoppers fearful as organised retail theft rises

Ann McGee, a New Yorker from the borough of Queens, doesn’t like the recent sensation she has when entering stores: fear.
3 September 2023, 18:00 PM

UK says inflation on track to come down

British finance minister Jeremy Hunt said on Saturday inflation was on track to halve by the end of 2023, vowing to focus on the goal as he laid out his priorities ahead of the reopening of parliament after the summer break.
3 September 2023, 18:00 PM

Saudi Aramco considers selling $50b in shares

Saudi Aramco is considering selling a stake worth as much as $50 billion through a secondary share offering on the Riyadh bourse after consultations with advisers, the Wall Street Journal reported on Friday.
3 September 2023, 18:00 PM

Indian automakers post rise in August sales

Top Indian automakers on Friday posted an increase in passenger and commercial vehicle sales for August, as optimistic dealers loaded up vehicles ahead of the festive season.
3 September 2023, 18:00 PM

US manufacturing slump continues into 10th month

The slump in US manufacturing activity continued for a 10th consecutive month in August amid ongoing softness in new orders, survey data showed Friday, with some signs pointing to an improving situation.
3 September 2023, 18:00 PM

Oil jumps to highest in over seven months

Oil prices rose on Friday to their highest in over half a year and snapped a two-week losing streak, buoyed by expectations of tightening supplies.
3 September 2023, 18:00 PM

China will widen market access for the service industry, Xi says

Chinese President Xi Jinping said on Saturday that China would widen market access in the service industry and promote cross-border services trade.
3 September 2023, 10:21 AM

Dollar gains after mixed jobs report

The dollar gained against the euro and Japanese yen on Friday after the August jobs report showed a still strong labour market, despite some signs of deterioration.
2 September 2023, 18:00 PM

India cuts windfall tax on crude

The Indian government will cut the windfall tax on petroleum crude to 6,700 rupees ($81.03) per metric ton from 7,100 rupees starting on Saturday, according to a government notification issued on Friday.
2 September 2023, 18:00 PM

US jobless rate jumps

US job growth picked up in August, but the unemployment rate jumped to 3.8 percent and wage gains moderated, suggesting that labour market conditions were easing and cementing expectations that the Federal Reserve will not raise interest rates this month.
2 September 2023, 18:00 PM

Why is China's economy slowing down and could it get worse?

China's economic growth is slowing down as policymakers try to fix a property market downturn, with troubles at major developer Country Garden in focus. Concerns are mounting over whether the world's second-largest economy is coming closer to a crunch point:
2 September 2023, 08:59 AM

Oil rises to highest in over seven months on supply worries

Oil prices rose on Friday to their highest in over half a year and snapped a two-week losing streak, buoyed by expectations of tightening supplies.
2 September 2023, 08:46 AM

US unemployment rate spikes to 3.8%; labor market still has momentum

US job growth picked up in August, but the unemployment rate jumped to 3.8 percent and wage gains moderated, suggesting that labor market conditions were easing and cementing expectations that the Federal Reserve will not raise interest rates this month.
2 September 2023, 07:58 AM

China factory activity shrinks

China’s factory activity contracted for a fifth straight month in August, official data showed on Thursday, as pressure mounts on Beijing to offer more policy support to bolster its sluggish economy.
31 August 2023, 18:00 PM

Global rice supplies tighten after India export ban

Rice prices in key exporting countries including Thailand and Vietnam have climbed around 20 percent since India, the world’s biggest shipper of the grain, banned shipments of a key variety in July, tightening global supplies.
31 August 2023, 18:00 PM

Chinese exporters using currency swaps to retain dollars

Chinese exporters are using a complicated currency swap strategy to avoid converting their dollar earnings into yuan for fear of losing out on potential gains in the US currency, official data and conversations with companies show.
31 August 2023, 18:00 PM

Oil extends gains

Oil prices extended gains on Wednesday after industry data showed a large draw in crude inventories in the US, the world’s biggest fuel consumer, and as a hurricane in the Gulf of Mexico kept investors on edge.
30 August 2023, 18:00 PM

Gazprom reports sharp net income decline

Russian gas giant Gazprom reported Tuesday an 8.5-fold drop in its net income for the first six months of the year as Europe moves away from Moscow’s energy supplies over Ukraine.
30 August 2023, 18:00 PM