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

Yuan loses core support as firms leave China

Since China opened to foreign investment in 1978 under Deng Xiaoping, global firms have ploughed in hundreds of billions of dollars to buy and build factories for market access and cheap labour, bolstering the Chinese currency.
7 August 2023, 18:00 PM

Dollar on guard

The dollar rose on Monday after a mixed US jobs report on Friday sent the US currency to a one-week low, with market focus turning to inflation data from the world’s two largest economies due this week.
7 August 2023, 18:00 PM

China’s exports likely contracted further

China’s exports likely contracted further in July, as manufacturers in the world’s second-largest economy struggled for buyers in markets grappling with high inflation and rising interest rates, a Reuters poll showed on Monday.
7 August 2023, 18:00 PM

Chinese company to double Russian oil purchase

China’s state-controlled Shaanxi Yanchang Petroleum Group is expected to double its purchases of Russian ESPO blend this year to about one million metric tons, according to two sources familiar with the plant’s operations.
7 August 2023, 18:00 PM

Oil holds steady near four-month high on OPEC+ cuts

Oil prices hovered near their highest levels since mid-April after top producers Saudi Arabia and Russia pledged to extend supply cuts through September, further tightening supplies.
7 August 2023, 08:56 AM

Dollar on guard as US inflation test looms

The dollar was on the defensive on Monday after a mixed US jobs report provided little directional conviction and as market focus turned to inflation data from the world's two largest economies due this week.
7 August 2023, 05:39 AM

Indian firms want to invest in healthcare, education, energy

Indian companies are showing keen interest to invest in Bangladesh’s healthcare, education and energy sectors, with the country’s market size becoming bigger and the connectivity between the two neighbours stronger.
6 August 2023, 18:00 PM

Two measures of global corporate health flash red

Two measures of corporate and economic health were flashing red on Friday as shipping group Maersk reported a fall in global demand for sea containers and advertising giant WPP said clients in the US tech sector were slashing their marketing spend.
6 August 2023, 18:00 PM

China’s economic losses from disasters surge

China’s direct economic losses from natural disasters surged to 41.18 billion yuan ($5.74 billion) in July, more than in January to June combined, driven by severe weather as two powerful typhoons hit the country in one month.
6 August 2023, 18:00 PM

Surging US crude exports pushing down Asian prices

Surging US crude exports in 2023 are pushing down oil prices in Europe and Asia, proving a key source of supply as producers cut output and sanctions on Russian crude disrupt trade flows.
6 August 2023, 18:00 PM

Pakistan’s economic woes leave textile industry in tatters

Factory worker Lubna Babar was made redundant at the beginning of the year, a victim of a crisis in the Pakistan textile industry that has seen it lose ground to more nimble Asian competitors.
6 August 2023, 18:00 PM

More rate hikes may be needed to lower inflation

A US central bank official said Saturday that more interest rate hikes “will likely be needed” to bring inflation down further, shortly after policymakers lifted rates to the highest level since 2001.
6 August 2023, 18:00 PM

JPMorgan raises US economic growth estimate, no longer expects 2023 recession

JPMorgan's chief economist said on Friday the bank is no longer forecasting a US recession this year and has raised its economic growth estimate as the economy expands at a "healthy pace."
6 August 2023, 08:24 AM

Russia says JPMorgan stops processing its grain payments

US bank JPMorgan (JPM.N) this week stopped processing payments for the Russian Agricultural Bank, Russia said on Friday, as it demanded action, not promises, from Washington to help Russian grain and fertilizer reach global markets.
6 August 2023, 06:16 AM

China relaxes visa, other rules to boost economy

China will allow some foreigners to obtain visas on arrival and rural residents to settle more easily in cities as part of a series of measures aimed at boosting its flagging economy.
5 August 2023, 18:00 PM

India may cut or scrap wheat import tax

India is considering cutting or even abolishing a 40 percent import tax on wheat and lowering a limit on the amount of wheat stocks millers and traders can hold, a government official said on Friday, as part of efforts to boost supplies.
5 August 2023, 18:00 PM