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India’s forex post biggest weekly gain in more than a year
India’s foreign exchange reserves rose to $531.08 billion in the week through October 28, marking their biggest weekly gain since September 2021, the Reserve Bank of India’s (RBI) weekly statistical supplement showed on Friday.
5 November 2022, 18:00 PM
Italy hikes govt borrowing to tackle energy crisis
Italy’s new government unveiled its first public finance targets on Friday, hiking borrowing to finance support measures for families and firms struggling with sky-high energy costs.
5 November 2022, 18:00 PM
Russia seeks sanctions exemptions for state bank
Russia wants the West to ease restrictions on state agriculture lender Rosselkhozbank to facilitate Russian grain exports, according to four sources familiar with the request, made during talks to extend a deal on food shipments from Ukraine.
5 November 2022, 18:00 PM
Turkey’s inflation hits 24-year high
Turkish annual inflation climbed to a new 24-year high of 85.51 per cent in October, official data showed on Thursday, slightly below forecast, after the central bank cut its policy rate despite surging prices.
3 November 2022, 18:00 PM
Dollar drops as optimism spreads before Fed decisions
The US dollar sank from a one-week high against a basket of major peers on Tuesday as the mood in financial markets brightened ahead of Federal Reserve and Bank of England (BoE) meetings this week.
1 November 2022, 18:00 PM
ECB must keep raising rates
The European Central Bank must keep raising interest rates to fight off inflation, even if the probability of a euro zone recession has increased, ECB President Christine Lagarde said in an interview published on Tuesday.
1 November 2022, 18:00 PM
US, UAE announce clean energy partnership
The United States announced a clean energy partnership on Tuesday with the United Arab Emirates worth $100 billion, the White House said.
1 November 2022, 18:00 PM
Rupee firms
The Indian rupee advanced on Tuesday as hopes that the US Federal Reserve could slow down the pace of its rate hikes buoyed risk appetite and hurt the dollar.
1 November 2022, 18:00 PM
Biden threatens tax hit for ‘war profiteering’ oil companies
US President Joe Biden said Monday he plans to seek tax penalties for oil companies unless they invest their record profits in lowering consumer costs and boosting production, criticizing their “war profiteering.”
1 November 2022, 18:00 PM
Global wheat prices climb nearly 6pc
Chicago wheat futures jumped almost 6 per cent on Monday and corn rose more than 2 per cent as Russia’s withdrawal from a Black Sea export agreement raised concerns over global supplies.
31 October 2022, 18:00 PM
Middle East seeing gradual slowdown: IMF
Most of the Middle East and North Africa’s non-oil producing economies are experiencing a “gradual slowdown”, the International Monetary Fund said Monday, while resource-rich states are benefiting from high fossil fuel prices.
31 October 2022, 18:00 PM
Gas crisis fears recede for now as Europe stockpiles
With prices falling and ports clogged with liquefied natural gas tankers, fears of a winter heating crisis in Europe have eased but experts are warning against complacency.
31 October 2022, 18:00 PM
UAE targets clean projects at 50pc of energy mix by 2050
The United Arab Emirates aims to increase the share of clean energy projects to 50 per cent of its overall energy mix by 2050, state news agency WAM cited its energy minister as saying on Sunday.
30 October 2022, 18:00 PM
With Twitter, Musk’s influence enters uncharted territory
First, Elon Musk revolutionised the automobile industry, then he tackled space travel. By taking control of Twitter, the eccentric billionaire now wields a nearly untold level of influence.
30 October 2022, 18:00 PM
US retailers battle high costs clearing Christmas stockpiles
US retailers are hustling to sell their stockpiles of Christmas decorations as the festive season approaches, after tangled supply chains caused many shipments to arrive only after the holidays last year.
30 October 2022, 18:00 PM
Fed set for fourth steep rate hike
The US Federal Reserve is pegged to make a fourth straight steep hike in the key interest rate this week as it battles surging costs, with its aggressive stance fueling expectations of a recession.
30 October 2022, 18:00 PM
US consumer spending remains strong in September
A key measure of US inflation kept its pace in September while consumer spending remained strong, government data showed Friday, fueling expectations of a further interest rate hike by the central bank.
29 October 2022, 18:00 PM
Recession fears stalk Europe
Germany’s economy unexpectedly grew in the third quarter, official data showed Friday, but slowing growth in France and Spain added to fears that high inflation and an energy crisis will tip the region into recession.
29 October 2022, 18:00 PM
Oil giants log massive profits
Global energy giants including Exxon Mobil Corp and Chevron Corp posted another round of huge quarterly profits, benefiting from surging natural gas and fuel prices that have boosted inflation around the world and led to fresh calls to further tax the sector.
29 October 2022, 18:00 PM
India extends export curb on sugar
India has extended its restriction on sugar exports by another year until October 31, 2023, to contain prices of the sweetener in its domestic market, according to a notification from the country’s Directorate General of Foreign Trade on Friday.
29 October 2022, 18:00 PM