Fossil fuel companies’ net zero plans largely meaningless: report

The number of fossil fuel companies setting net-zero emissions targets has risen sharply over the past year, but most fail to address key concerns, making them “largely meaningless”, a report showed on Monday.
13 June 2023, 18:00 PM

German investor morale improves

German investor morale improved unexpectedly in June, the ZEW economic research institute said on Tuesday, but warned of persistent headwinds as export-focused sectors struggled with a weak global economy.
13 June 2023, 18:00 PM

India may tighten norms for banks’ unsecured lending

The Reserve Bank of India (RBI) is looking to tighten scrutiny on the unsecured lending portfolios of banks amid the growing risk of potential defaults, four banking sources told Reuters.
13 June 2023, 18:00 PM

Europe takes lead over US on crypto regulation

Born out of the desire to create a decentralised currency not controlled by a government, the crypto movement has long resisted regulation.
13 June 2023, 18:00 PM

Oil prices tick up

Oil prices rose on Tuesday on apparent bargain hunting, recovering some ground from the previous day’s plunge.
13 June 2023, 18:00 PM

Investors concerned over EU deforestation law

As a new European Union zero-tolerance deforestation law looms, several major investors told Reuters they are concerned about their exposure to the issue, with some saying they could quit consumer goods makers with “risky” supply chains.
13 June 2023, 18:00 PM

China cuts interest rate to kickstart flagging economy

China’s central bank on Tuesday cut a key policy interest rate, in a surprise move to boost the country’s flagging economy.
13 June 2023, 18:00 PM

India’s retail inflation eases to a more than 2-year low

India’s annual retail inflation cooled to a more than two-year low of 4.25 per cent in May as cost pressures on food eased, moving closer to the Reserve Bank of India’s (RBI) target of 4 per cent, government data showed on Monday.
12 June 2023, 18:00 PM

Dollar edges lower as Fed pause eyed in busy cenbank week

The dollar slipped on Monday as traders stayed on guard ahead of policy decisions this week from several central banks, including the Federal Reserve, who are expected to keep interest rates on hold for the first time since January 2022.
12 June 2023, 18:00 PM

Pakistan gets first Russian crude under discount deal

The first shipment of Russian oil to energy-starved and dollar-strapped Pakistan was due to be unloaded at Karachi port on Monday, Prime Minister Shehbaz Sharif said.
12 June 2023, 18:00 PM

India asks Myanmar to expedite trade thru rupee

India has urged Myanmar’s administration to speed up the process of trade settlements through mutual currencies, a mechanism that was earlier agreed, an exporters’ body official said on Monday.
12 June 2023, 18:00 PM

Saudi announces investment deals at Arab-China summit

The event's first day saw signing of $10b investment agreements
12 June 2023, 13:14 PM

High inflation rattles UK home loan market

Britain’s retail lenders are withdrawing fixed home-loan products, as elevated inflation sparks fear of more Bank of England interest rate hikes and worsens the cost-of-living crisis.
11 June 2023, 18:00 PM

Divided Fed expected to rally around a US interest rate pause

The US Federal Reserve is widely expected to pause its campaign of interest rate increases on Wednesday to give policymakers more time to assess the economic impact of existing hikes and recent banking stresses.
11 June 2023, 18:00 PM

Saudi Arabia seeks cooperation with China

Saudi Arabia wants to collaborate, not compete, with China, the kingdom’s energy minister declared on Sunday, saying he “ignored” Western suspicions over their growing ties.
11 June 2023, 18:00 PM

S Korea declares ‘all-out war’ on chips to support chip industry

The competition in the chip industry is an “all-out war,” President Yoon Suk Yeol said Thursday, vowing to back local chipmakers with interagency support amid the intensifying tech competition between the US and China.
11 June 2023, 18:00 PM

US and five allies condemn trade-related economic coercion

The United States and five of its allies on Friday condemned the use of trade practices that amount to economic coercion in a joint declaration that did not single out other countries but appeared to be aimed at China.
10 June 2023, 18:00 PM

India’s cenbank may not cut rate

India’s central bank may not cut the key lending rate before February unless inflation falls sharply or a global crisis unfolds, a top treasury official of Axis Bank said.
10 June 2023, 18:00 PM

Sri Lanka lifts import limits on 286 items as crisis eases

Sri Lanka lifted import restrictions on 286 items, the Finance Ministry said on Saturday, a fresh sign the South Asian nation is starting to emerge from its worst economic crisis in decades.
10 June 2023, 18:00 PM

China’s cenbank upbeat on Q2 GDP growth

China’s economic growth is expected to be “relatively high” in the second quarter compared to the prior year, mainly due a low base of comparison, while consumer inflation is projected to be above 1 per cent by December, the central bank governor said.
10 June 2023, 18:00 PM