Britain to join trans-Pacific trade pact

Britain on Friday said it had struck a deal to join an 11-country trans-Pacific trade pact which includes Japan and Australia as it looks to deepen ties in the region and build its global trade links after leaving the European Union.
1 April 2023, 18:00 PM

Pakistan inflation hits 50-year high

Pakistan’s year-on-year inflation hit 35.37 per cent in March -- the highest in nearly five decades -- as the government scrambled to meet International Monetary Fund (IMF) conditions to unlock a desperately needed bailout.
1 April 2023, 18:00 PM

India probing some Adani offshore deals

India’s market regulator is investigating possible violation of ‘related party’ transaction rules in the Adani Group’s dealings with at least three offshore entities that have links to the brother of the conglomerate’s founder, two people said.
1 April 2023, 18:00 PM

UK economy avoids recession but businesses still wary

Britain’s economy avoided a recession as it grew in the final months of 2022, according to official data which showed a boost to households’ finances from state energy bill subsidies but falling investment by businesses.
1 April 2023, 18:00 PM

Fashion retailer H&M surprises with profit

Fashion retailer H&M reported a surprise operating profit for the December to February period as cost-cutting measures started to bear fruit despite consumers curbing spending, but said a cold spell was holding back sales in March.
30 March 2023, 18:00 PM

China, Brazil strike deal to ditch dollar for trade

China and Brazil have reached a deal to trade in their own currencies, ditching the US dollar as an intermediary, the Brazilian government said Wednesday, Beijing’s latest salvo against the almighty greenback.
30 March 2023, 18:00 PM

China committed to economic opening up: premier

China is committed to opening up the world’s second-largest economy and delivering reforms that can help stimulate growth, Premier Li Qiang said on Thursday, adding that geopolitical tension would only hold back development worldwide.
30 March 2023, 18:00 PM

Gold price drops

Prices of safe-haven gold dropped on Wednesday as easing fears of a further contagion from the global banking crisis whetted appetite for riskier assets.
29 March 2023, 18:00 PM

Russia’s Rosneft signs deal to boost oil supplies to India

Russia’s largest oil producer Rosneft and India’s top refiner Indian Oil Corp have signed a term agreement to substantially increase oil supplies and diversify oil grades delivered to India, Rosneft said on Wednesday.
29 March 2023, 18:00 PM

Vietnam growth slows as exports slump

Vietnam’s economic growth slowed in the first quarter of the year as exports slumped due to reduced consumer demand, authorities said Wednesday.
29 March 2023, 18:00 PM

Banking turmoil means recession fears creeping back

The failures of US lenders Silicon Valley Bank (SVB) and Signature Bank, followed by Credit Suisse’s rescue, and the ensuing turmoil in world markets have re-ignited the recession risks that appeared to have abated just a few weeks ago.
29 March 2023, 18:00 PM

Global banking volatility eases

Immediate investor concerns over the banking sector eased on Tuesday, lifting stock prices, with the European Central Bank’s supervisory chief saying recent sector volatility underscored the need to step up regulatory scrutiny.
28 March 2023, 18:00 PM

Oil sales to India soar amid Ukraine conflict: Russia

Russian oil sales to India surged more than twentyfold last year as European buyers turned to other markets following the conflict in Ukraine, Russia’s deputy prime minister said Tuesday.
28 March 2023, 18:00 PM

Buoyant bitcoin’s losing its liquidity

Bullish bitcoin has been a surprise winner of the banking blowout. Yet investors aiming to amp up their bets face an ominous obstacle: a lack of liquidity that could trigger wild price swings.
28 March 2023, 18:00 PM

More food shortages could add to Britain’s price pressure

Britons already reeling from the biggest rise in food prices since 1977 may have to get used to shortages of fresh vegetables as soaring costs and unpredictable weather hit domestic production.
28 March 2023, 18:00 PM

Gold slips for third session

Gold prices dipped for a third straight session on Tuesday, retreating further from the key $2,000 mark, with investors turning towards higher-risk assets as banking turmoil subsides, although a softer dollar limited losses.
28 March 2023, 18:00 PM

Global economy’s ‘speed limit’ set to plunge

The global economy’s “speed limit”—the maximum long-term rate at which it can grow without sparking inflation—is set to slump to a three-decade low by 2030, a new World Bank report showed. 
28 March 2023, 18:00 PM

China’s industrial profits slump deepens

The slump in Chinese industrial firms’ profits deepened in the first two months of 2023, weighed by lacklustre demand and stubbornly high costs as the world’s second-largest economy struggled to fully shake the long-term effects of Covid.
27 March 2023, 18:00 PM

US may enter recession this year

The United States will likely enter a recession this year and face high inflation well into 2024, a majority of economists predicted in their response to a semiannual survey.
27 March 2023, 18:00 PM

Rupee does better than peers

The Indian rupee rose against the US currency on Monday, helped by likely dollar inflows and healthier risk, traders said.
27 March 2023, 18:00 PM