Malaysia plans to set up 2nd 5G network next year

Malaysia plans to introduce a second 5G network from next year, four sources told Reuters, in the latest policy shake-up aimed at dismantling monopolies and promoting competition by Prime Minister Anwar Ibrahim’s six-month-old administration.
16 April 2023, 18:00 PM

Large US banks report higher profits

JPMorgan Chase reported a jump in first-quarter profits Friday alongside fellow banking giants Citigroup and Wells Fargo, in reassuring news to investors after recent banking sector turmoil sparked contagion fears.
15 April 2023, 18:00 PM

Patience needed to cut inflation: BoE

Bank of England policymaker Silvana Tenreyro said past interest rate rises would take time to bear down on inflation, and that it was important not to over-adjust policy while the impact of these past rate rises was feeding through.
15 April 2023, 18:00 PM

US retail sales post steeper fall than expected

Retail sales in the United States slipped more than anticipated in March, according to government data released Friday, extending a downward trend that signals cooling in the economy.
15 April 2023, 18:00 PM

India’s forex reserves at nine-month high

India’s foreign exchange reserves jumped to $584.76 billion for the week ended April 7, the highest in nine months, the Reserve Bank of India’s (RBI) statistical supplement showed on Friday.
15 April 2023, 18:00 PM

Russian oil exports jump to highest level in 3 years

Russian oil exports jumped to their highest level in almost three years in March despite Western sanctions, but revenues were down sharply from last year, the International Energy Agency said Friday.
15 April 2023, 18:00 PM

UAE, China promise Pakistan $1.3b

Pakistan announced financial support Friday from the United Arab Emirates and China totalling $1.3 billion, giving the ailing economy a shot in the arm as it seeks to meet conditions for the resumption of an International Monetary Fund bailout.
15 April 2023, 18:00 PM

China’s exports rise unexpectedly

China’s exports unexpectedly surged in March, with officials flagging rising demand for electric vehicles, but analysts cautioned the improvement partly reflects suppliers catching up with unfulfilled orders after last year’s Covid-19 disruptions.
13 April 2023, 18:00 PM

Gold price rises

Gold prices firmed on Wednesday as the dollar weakened, with investors awaiting the US Federal Reserve’s latest policy meeting minutes and inflation data for signs of how close interest rates are to peaking.
12 April 2023, 18:00 PM

Asia may grow faster than developed economies

Asia’s economic growth could outpace developed countries’ by 5 per cent by end-2023 driven by China’s easing of Covid-19 curbs, strong domestic demand and interest rates staying in less-restrictive territory, said Morgan Stanley economists.
12 April 2023, 18:00 PM

Japan proposes industrial hub in Bangladesh

Japan has proposed developing an industrial hub in Bangladesh with supply chains to the landlocked northeastern states of India, and to Nepal and Bhutan beyond by developing a port and transport in the region, officials said on Tuesday.
12 April 2023, 18:00 PM

Dollar slides against euro and pound

The dollar gave back the previous day’s advances against the euro and pound but held some gains against the yen on Tuesday as traders’ attention turned to US inflation data due on Wednesday for signs of how close US rates are to peaking.
11 April 2023, 18:00 PM

Oil price rises

Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in US crude stockpiles.
11 April 2023, 18:00 PM

Chinese airlines on big hiring drive as travel rebounds

Chinese airlines undertaking the biggest hiring drives in more than three years as travel rebounds are facing a deluge of applicants for cabin crew roles as fresh university graduates turn to the relatively high-paying career in a bleak job market.
11 April 2023, 18:00 PM

PC shipments plunge globally

Shipments of Apple Macs plunged during the first quarter of this year as the global personal computer market suffered due to tough economic conditions, market research reports said on Monday.
11 April 2023, 18:00 PM

China consumer inflation falls below 1% in March

China’s consumer price inflation fell below one percent in March, official figures showed Tuesday, a sign of weak demand as the world’s second largest economy tries to recover from its pandemic-driven slump.
11 April 2023, 18:00 PM

Deeper financial turmoil would slam global growth IMF warns

The International Monetary Fund on Tuesday trimmed its 2023 global growth outlook slightly as higher interest rates cool activity but warned that a severe flare-up of financial system turmoil could slash output to near recessionary levels.
11 April 2023, 18:00 PM

Bitcoin pushes past $30,000

Major cryptocurrency bitcoin breached the key $30,000 level for the first time in 10 months on Tuesday, adding to its steady gains as investors raised bets that the US Federal Reserve will soon end its aggressive monetary tightening campaign.
11 April 2023, 18:00 PM

IMF lowers 2023 global growth forecast to 2.8

The International Monetary Fund slightly lowered its outlook for the global economy today, while predicting that most countries will avoid a recession this year despite economic and geopolitical concerns..The IMF predicted the global economy will grow by 2.8 percent this year and three per
11 April 2023, 15:16 PM

Saudi maintains supply to Asia despite Opec+ cuts

State oil giant Saudi Aramco will supply full crude contract volumes loading in May to several North Asian buyers despite its pledge to cut output by 500,000 barrels per day, several sources with knowledge of the matter said on Monday.
10 April 2023, 18:00 PM