What happens when the Black Sea grain deal expires?

A deal allowing Ukraine to export grain via the Black Sea will expire at the end of Monday after Russia said it will suspend its participation.
17 July 2023, 18:00 PM

Indian traders scoop up cheaper Chinese steel

Indian traders have been scooping up Chinese steel at a deep discount, industry officials and analysts said, spooking Indian producers ahead of a seasonal pick up in domestic demand.
17 July 2023, 18:00 PM

Russia halts UN-brokered Ukraine grain deal

Russia said on Monday that it had halted participation in a landmark UN-brokered deal which allowed Ukrainian grain to be exported through the Black Sea just hours after Moscow said Ukraine had attacked the Crimean Bridge.
17 July 2023, 10:45 AM

Black Sea grain deal to expire Monday if Russia quits

The last ship left Ukraine under the deal on Sunday. Russia's February 2022 invasion and blockade of Ukraine's Black Sea ports sent global grain prices soaring. Ukraine and Russia are among the world's top grain exporters.
17 July 2023, 06:45 AM

China to have world’s biggest film market by 2025

China’s film market, once affected by the Covid-19 pandemic, will rally in 2023, and take the lead in the world by 2025, according to a report released by global auditing and consultancy firm PwC last week.
16 July 2023, 18:00 PM

China economic recovery may fade quickly

A flurry of economic data from China on Monday is expected to show its post-pandemic bounce is quickly fizzling out, raising expectations that Beijing needs to unveil more stimulus measures soon to shore up activity and shaky consumer confidence.
16 July 2023, 18:00 PM

UK signs up to trans-Pacific trading bloc

The UK government on Sunday hailed what it said was its biggest trade deal since Brexit, as it formally signed a treaty to join a major Indo-Pacific bloc.
16 July 2023, 18:00 PM

Twitter has lost half its ad revenue

Twitter owner Elon Musk said Saturday that the social media platform he bought for $44 billion last October has lost roughly half of its advertising revenue.
16 July 2023, 18:00 PM

Xiaomi bets bigger on India retail stores

China’s Xiaomi will focus on boosting its India sales from retail outlets after years of big bets on e-commerce, its India president said, as the company seeks to revive smartphone sales after falling behind South Korea’s Samsung.
16 July 2023, 18:00 PM

Tesla rolls out its first electric pickup

US automaker Tesla on Saturday announced that its first electric pickup -- a slick-looking silver Cybertruck -- had rolled off the assembly line at its huge plant near Austin, Texas.
16 July 2023, 18:00 PM

Artificially high growth predicted for China in Q2

China’s economic growth is expected to have surged in the second quarter, an AFP survey has forecast, but analysts say Monday’s figures will be misleadingly inflated given the low base of comparison with pandemic-wracked 2022.
15 July 2023, 18:00 PM

US banks caution on economy

Results of large US banks released Friday underscored the boon from higher interest rates, as executives described the world’s biggest economy as “resilient” but facing risks.
15 July 2023, 18:00 PM

Oil prices fall on profit-taking

Oil prices fell more than a dollar a barrel on Friday as the dollar strengthened and oil traders booked profits from a strong rally, with crude benchmarks recording their third-straight weekly gain.
15 July 2023, 18:00 PM

Ukraine logs $8.97b trade deficit in Jan-May

Ukraine’s trade deficit grew to $8.97 billion in the first five months of the year compared with a deficit of about $1 billion posted in the same period a year ago, the statistics service said on Friday.
15 July 2023, 18:00 PM

Surprise growth helps Singapore avoid recession

Singapore’s economy grew more than expected in the second quarter, data showed Friday, helping it avoid a recession, but analysts warned the trade-dependent city faced headwinds owing to weak overseas demand.
15 July 2023, 18:00 PM

Russia plans to cut oil export

Russian oil exports from western ports are set to fall by some 100,000-200,000 barrels per day next month from July levels, a sign Moscow is making good on its pledge for fresh supply cuts in tandem with Opec leader Saudi Arabia, two sources said on Friday, citing export plans.
15 July 2023, 18:00 PM

India ties up with UAE to settle trade in rupee

India has signed an agreement with the United Arab Emirates that will allow it to settle trade in rupees instead of dollars, boosting India’s efforts to cut transaction costs by eliminating dollar conversions.
15 July 2023, 18:00 PM

Tumbling US dollar a boon to risk assets

Cooling US inflation is accelerating a decline in the dollar, and risk assets around the world stand to benefit.
15 July 2023, 18:00 PM

China publishes interim rules on generative AI

China issued interim measures on Thursday to manage its booming generative artificial intelligence (AI) industry, saying they would apply only to services offered to the public as regulators seek to support development of the technology.
13 July 2023, 18:00 PM

Oil price hovers above $80

Global oil benchmark Brent hovered above $80 a barrel on Thursday after US inflation data implied interest rates in the world’s biggest economy are close to their peak.
13 July 2023, 18:00 PM