India inflation likely hit 18-month low in April

India’s consumer inflation likely cooled to an 18-month low in April as rises in food and fuel prices moderated, keeping it below the Reserve Bank of India’s upper tolerance limit for the second consecutive month, a Reuters poll of economists found.
10 May 2023, 18:00 PM

Oil falls on rise in US inventories

Oil prices fell on Wednesday, ending a three-day rally as an unexpected rise in US oil inventories sparked demand concerns and investors awaited inflation data for a steer on US interest rates.
10 May 2023, 18:00 PM

Rupee hits over two-week low

The Indian rupee fell to a more than two-week low on Tuesday on the back of dollar purchases by importers and short covering by traders, with a rise in US yields also adding to the pressure.
9 May 2023, 18:00 PM

AI could replace 80% of jobs ‘in next few years’: expert

Artificial intelligence could replace 80 per cent of human jobs in the coming years -- but that’s a good thing, says US-Brazilian researcher Ben Goertzel, a leading AI guru.
9 May 2023, 18:00 PM

iPhone maker buys huge site in India tech hub

Taiwanese electronics giant Foxconn has bought a huge tract of land on the outskirts of Indian tech hub Bengaluru, the key Apple supplier said in a filing Tuesday as it looks to diversify production away from China.
9 May 2023, 18:00 PM

Lower oil prices bring down Aramco’s profit

Saudi oil giant Aramco’s first quarter net profit dropped 19 per cent from a year earlier to 119.54 billion riyals ($31.88 billion), it said on Tuesday, due to lower crude prices.
9 May 2023, 18:00 PM

India extends $1b credit line for Sri Lanka by a year

India has extended a $1 billion credit line for Sri Lanka by one year, a Sri Lankan official told Reuters on Tuesday, giving the crisis-hit country a backup funds to pay for essential imports.
9 May 2023, 18:00 PM

Wheat prices down globally, rice price unchanged

Wheat and maize prices declined 11 per cent and 14 per cent, respectively, in the global markets in the past two weeks while rice prices have remained relatively unchanged, according to the World Bank’s Food Security Update.
9 May 2023, 18:00 PM

US banks may tighten lending standards on sector worries

US banks tightened lending standards in the first few months this year, and expect this to continue over the rest of 2023, said a Federal Reserve survey released on Monday.
9 May 2023, 18:00 PM

China’s exports seen rising in April

China’s exports were expected to have risen again in April, albeit at a less robust pace than a month earlier, a Reuters poll showed, supported by unfulfilled orders after last year’s Covid disruptions though slowing global growth is darkening the outlook.
8 May 2023, 18:00 PM

Airlines, unions in rare unity on US pilot diversity drive

The population of US airline pilots and engineers is currently 95.7 per cent white and 9.2 per cent female, according to US data.
8 May 2023, 11:52 AM

Asia poised to drive global economic growth riding on China’s reopening

Asia and the Pacific is a relative bright spot amid the more somber context of the global economy's rocky recovery, according to a blog of the International Monetary Fund.
8 May 2023, 07:40 AM

Germany mulls electricity price cap for industry

Germany’s Economy Minister Robert Habeck on Friday presented plans to cap the price of electricity used by energy-intensive industries to insulate the sector against sharp cost increases, but the proposal immediately sparked criticism.
7 May 2023, 18:00 PM

Rumee A Hossain re-elected as board executive committee chairman of Bank Asia

Rumee A Hossain has been re-elected as the chairman of the board executive committee of Bank Asia Limited at a meeting of the Board of Directors held recently.
7 May 2023, 18:00 PM

China forex reserves jump to $3.2tr

China’s foreign exchange reserves rose more than expected in April, official data showed on Sunday, as the dollar fell against other major currencies.
7 May 2023, 18:00 PM

US hiring shows surprise surge

Hiring in the United States picked up pace in April and unemployment returned to a multidecade low, government data showed Friday, signaling labor market resilience despite higher interest rates to tackle inflation.
7 May 2023, 18:00 PM

German recession fears rise as factory orders plummet

Industrial orders at German factories saw their biggest fall in March since the outbreak of the Covid pandemic in 2020, data showed Friday, the latest sign that Europe’s biggest economy is facing a steep downturn.
7 May 2023, 18:00 PM

Rising iPhone sales help Apple beat forecasts

Apple on Thursday said iPhone sales and money made from services powered quarterly earnings that beat forecasts, despite inflation pressure and the slowing global economy.
7 May 2023, 18:00 PM

PM offers economic zone to Bhutan for mutual benefits

Prime Minister Sheikh Hasina offered Bhutan a scope to build an economic zone in Bangladesh for mutual benefits during a meeting in London with Bhutanese King Jigme Khesar Namgyel Wangchuck and Queen Jetsun Pema. 
7 May 2023, 18:00 PM

China forex reserves rise to $3.205 trln in April

China's foreign exchange reserves rose more than expected in April, official data showed on Sunday, as the dollar fell against other major currencies.
7 May 2023, 07:22 AM