Russia remains China’s top crude supplier

Russia remained China’s largest crude supplier in July, Chinese government data showed on Sunday, even as Russian shipments fall from all-time highs on narrower discounts and rising domestic demand crimps Russian exports.
20 August 2023, 18:00 PM

Wet July dampens UK retail sales

British retail sales fell more than expected in July, official data showed Friday, with poor weather blamed for the setback as the country tries to revive its flagging economy.
20 August 2023, 18:00 PM

Dollar set for further gain

The dollar was flat on Friday but set for a fifth consecutive week of gains in its longest winning streak for 15 months, buoyed by demand for safer assets on worries over China’s economy and bets that US interest rates will stay high.
20 August 2023, 18:00 PM

China moves to prop up stock market

China’s securities regulator unveiled a package of measures on Friday aimed at reviving a sinking stock market, but investors said they would do little to boost confidence if the economy remains sluggish.
20 August 2023, 18:00 PM

Walmart reports another solid quarter

Walmart raised its full-year forecast on Thursday as it posted another quarter of solid results, grabbing market share in groceries and other staples against a backdrop of inflationary pressures.
19 August 2023, 18:00 PM

Chinese developer Evergrande files for bankruptcy protection

Embattled Chinese property giant Evergrande Group filed for bankruptcy protection in the United States on Thursday, court documents showed, a measure that protects its US assets while it attempts to restructure.
19 August 2023, 18:00 PM

China oil buying frenzy cools

China, the world’s top crude importer, is drawing on record inventories amassed earlier this year as refiners scale back purchases after Opec+ supply cuts drove global prices above $80 a barrel, traders and analysts said.
19 August 2023, 18:00 PM

Asia’s refiners face profit crunch

Asian refiners are on the hunt for crude oil to replace Kuwaiti supply as the Opec producer cuts exports by nearly a fifth to feed its huge new refinery, which is driving up prices for other sour crudes and likely to squeeze profit margins.
19 August 2023, 18:00 PM

US accuses China firms of evading solar panel tariffs

Several Chinese manufacturers of solar panels have been shipping their products through third countries including Thailand and Vietnam to circumvent US tariffs, the Commerce Department announced Friday.
19 August 2023, 18:00 PM

Japan inflation eases

Japan’s consumer price inflation eased to 3.1 percent year on year in July, in line with market expectations, government data showed Friday.
19 August 2023, 18:00 PM

Oil prices up 1%

Oil prices rose about 1 percent on Friday on signs of slowing US output, but both crude benchmarks also ended their longest weekly rally of 2023 on mounting concerns about global demand growth.
19 August 2023, 18:00 PM

India plans to hold FTA talks with UK, EU, Canada

India plans to hold bilateral free trade talks with the United Kingdom, the European Union and Canada and discuss bilateral trade issues with the Russian delegation on the sidelines of a G20 meeting next week, a top trade official said on Friday.
19 August 2023, 18:00 PM

Why is China not rushing to fix its ailing economy?

With China at risk of tipping into prolonged stagnation and a spiralling property crisis threatening financial stability, there is growing unease over why its leaders are not rushing to revive the world’s second-largest economy.
17 August 2023, 18:00 PM

Jittery rouble steadies

The Russian rouble strengthened to 93 against the dollar on Thursday, in a volatile week filled with speculation over how the authorities might stabilise the currency after a 350-basis-point rate hike appeared to have only a limited effect.
17 August 2023, 18:00 PM

Accelerating US economy sideswipes markets

Far from the recession forecasts of earlier this year, US economic growth may actually be accelerating in the second half of 2023 - upending bond and stock markets scrambling to reprice long-term inflation and interest rate assumptions.
17 August 2023, 18:00 PM

Saudi Arabia’s oil exports fall

Saudi Arabia’s crude oil exports fell for a third straight month in June to their lowest since September 2021, data from the Joint Organizations Data Initiative (JODI) showed on Wednesday, with big Asian buyers favouring cheaper Russian oil.
17 August 2023, 18:00 PM

How bad is China’s property crisis?

The debt crisis at Country Garden, China’s largest property developer before this year and once considered a financially sound company, has triggered fresh contagion fears just two years after China Evergrande Group defaulted.
17 August 2023, 18:00 PM

China's state banks seen selling dollars for yuan in London and New York hours

China's major state-owned banks were seen busy selling US dollars to buy yuan in both onshore and offshore spot foreign exchange markets this week, people with direct knowledge of the matter said, in an attempt to slow the yuan's depreciation.
17 August 2023, 10:56 AM

Oil prices wobble on worries over China economy, US rate path

Oil prices were choppy on Thursday after falling over the past three sessions, with the undertone grim on worries that slowing growth in China and possible further US interest rate hikes will weaken fuel demand in the world's two biggest economies.
17 August 2023, 09:14 AM

Dutch economy enters recession

The Dutch economy has entered a recession as it shrank 0.3 percent on a quarterly basis in the second quarter, a first estimate published by Statistics Netherlands on Wednesday showed.
16 August 2023, 18:00 PM