Russia halts currency buys as rouble tumbles

The Russian central bank said it would no longer purchase foreign currency on the domestic market from Thursday, as it sought to prop up the ruble, at its lowest level against the dollar since March 2022.
10 August 2023, 18:00 PM

Biden orders ban on certain US tech investments in China

President Joe Biden on Wednesday signed an executive order that will prohibit some new US investment in China in sensitive technologies like computer chips and require government notification in other tech sectors.
10 August 2023, 18:00 PM

Oil prices rise to multi-month highs

Oil prices rose to a multi-month peak Wednesday in the wake of Opec supply cuts while global stocks were mixed following disappointing China data.
10 August 2023, 18:00 PM

South Korean company to invest $9.39m in Bepza EZ

South Korean company Giant BD Footwear Ltd will invest $9.39 million to set up a shoe and shoe accessories manufacturing plant in Bepza Economic Zone (Bepza EZ).
10 August 2023, 18:00 PM

Oil firms to multi-month highs, eyes on US inflation data

Oil recouped early marginal losses on Thursday, climbing to multi-month peaks as the market weighed supply tightness concerns with fuel demand worries ahead of key US inflation data.
10 August 2023, 08:05 AM

Biden orders ban on certain US tech investments in China

President Joe Biden on Wednesday signed an executive order that will prohibit some new US investment in China in sensitive technologies like computer chips and require government notification in other tech sectors.
10 August 2023, 06:49 AM

China tips into deflation

China’s consumer sector fell into deflation and factory-gate prices extended declines in July, as the world’s second-largest economy struggled to revive demand and pressure mounted on Beijing to release more direct policy stimulus.
9 August 2023, 18:00 PM

Rouble hits over 16-month low

The rouble hit a more than 16-month low on Wednesday, hampered by strong foreign currency demand and limited supply, with Russia’s shrinking trade surplus and widening budget deficit also hurting sentiment.
9 August 2023, 18:00 PM

World’s largest cruise ship to set sail

With cruise bookings seeing a resurgence after the Covid pandemic caused luxury liners to mothball, a Finnish shipyard is putting the final touches on what will be the world’s largest cruise ship.
9 August 2023, 18:00 PM

China tips into deflation as efforts to stoke recovery falter

China's consumer sector fell into deflation and factory-gate prices extended declines in July, as the world's second-largest economy struggled to revive demand and pressure mounted for Beijing to release more direct policy stimulus.
9 August 2023, 07:12 AM

Oil prices slip as bearish China data fuels demand concerns

Oil prices eased in Asian morning trade on Wednesday as concerns over slow demand from top crude importer China grew after bearish trade and inflation data, outweighing fears over tighter supply arising from output cuts by Saudi Arabia and Russia.
9 August 2023, 05:56 AM

Moody’s downgrades several US banks

Moody’s cut credit ratings of several small to mid-sized US banks on Monday and said it may downgrade some of the nation’s biggest lenders, warning that the sector’s credit strength will likely be tested by funding risks and weaker profitability.
8 August 2023, 18:00 PM

China trade slumps, recovery at risk

China’s imports and exports fell much faster than expected in July as weaker demand threatens recovery prospects in the world’s second-largest economy, heightening pressure for authorities to release fresh stimulus to steady growth.
8 August 2023, 18:00 PM

China’s imports from Russia fall for first time since Feb 2021

China’s imports from Russia dropped in July, the first monthly decline since February 2021, with imports of oil and other goods having continued to rise steadily after the outbreak of conflict in Ukraine, Chinese customs data showed on Tuesday.
8 August 2023, 18:00 PM

Oil slips

Oil prices fell by more than 1.5 percent on Tuesday after data showed China’s imports and exports fell much more than expected in July in yet another sign of a sluggish post-Covid rebound for the world’s largest oil importer.
8 August 2023, 18:00 PM

India’s fuel demand slips to 10-month low in July

India’s fuel consumption slipped to a 10-month low in July, government data showed on Tuesday, as monsoon rains restricted mobility in the world’s third-biggest oil importer and consumer.
8 August 2023, 18:00 PM

Thailand says no rice export halt, to benefit from India's export ban

Thailand is benefiting from India's rice export ban and has no reason to halt its own shipments as it has sufficient output for exports and domestic consumption, its commerce minister said on Monday.
8 August 2023, 06:34 AM

Moody's downgrades US banks, warns of possible cuts to others

Moody's cut credit ratings of several small to mid-sized U.S. banks on Monday and said it may downgrade some of the nation's biggest lenders, warning that the sector's credit strength will likely be tested by funding risks and weaker profitability.
8 August 2023, 06:10 AM

German industry output plunges

German industrial output plunged in June, official data showed Monday, with the economy ministry warning of a gloomy outlook as high energy prices and interest rates took their toll.
7 August 2023, 18:00 PM

US banking starts to pick its battles against new capital rules

Now that regulators in Washington have unfurled a hefty reform package of post-financial crisis capital regulations, banking industry advisers are honing in on what they consider most disruptive, including risk management requirements that could affect real estate lending, consumer credit and wealth management.
7 August 2023, 18:00 PM