New blow for UK's Starmer as growth data disappoints

Gross domestic product (GDP) was 0.5 percent in the April-June period, the Office for National Statistics said in a statement, while economists expected it to have remained at 0.6-percent expansion
30 September 2024, 07:03 AM

Oil prices rise on Middle East conflict fears as Israel steps up attacks

Brent crude futures for November delivery increased 51 cents, or 0.71 percent, to $72.49 a barrel as of 0330 GMT.
30 September 2024, 05:03 AM

China megacities ease homebuying rules to boost property market

The teetering property sector has long accounted for around a quarter of gross domestic product and experienced dazzling growth for two decades
30 September 2024, 04:56 AM

Nepal dam-building spree powers electric vehicle boom

Kathmandu is ground zero of an incipient transport revolution set to see the clapped out cars that clog its traffic-snarled streets make way for emissions-free alternatives.
29 September 2024, 10:45 AM

Kamala Harris’ economic plan bows to realities

If Harris manages to defeat Republican candidate Donald Trump, she will likely face a much more constraining fiscal and political environment than her predecessors
29 September 2024, 09:04 AM

Beijing directs fiscal firepower at itself

The special government debt would equal to just 1.4 percent of last year's GDP - not quite the "whatever it takes" big-bang approach many economists and investors had been hoping for.
29 September 2024, 06:03 AM

EU to vote on Oct 4 to finalize tariffs for China-made EVs, Bloomberg News reports

The European Commission is on the verge of proposing final tariffs of up to 35.3 percent on EVs built in China, on top of the EU's standard 10 percent car import duty
29 September 2024, 05:19 AM

Online sellers on Walmart's Flipkart sue India watchdog over antitrust probe

The filings come after antitrust investigations concluded in August found Amazon and Flipkart, some of their sellers and smartphone brands, violated local competition laws
29 September 2024, 05:05 AM

India sets roadmap to grow textiles industry to $350 billion by 2030

The country also targets generating 6 crore textile jobs by that time, India’s textiles minister says
28 September 2024, 11:56 AM

We Must Change the Nature of Growth

The fortunes of our political leaders depend overwhelmingly on the rise or fall of one number: gross domestic product (GDP)
28 September 2024, 08:36 AM

Cuts, cash, credit: China bids to jumpstart flagging economy

China this week unveiled a bundle of new measures aimed at kickstarting its economy, battered by unprecedented headwinds including a property sector crisis and sluggish spending
28 September 2024, 07:43 AM

Boeing strike grinds on as latest talks fail to reach agreement

The union for striking Boeing workers said Friday that talks with the aviation giant "broke off" without agreement, after some 33,000 US employees walked out this month
28 September 2024, 06:56 AM

Intel and US to finalise $8.5 bln in chips funding by year-end, FT reports

Intel and the US government will likely finalise $8.5 billion in direct funding for the chipmaker before the end of the year, the Financial Times reported on Friday, citing people familiar with the discussions
28 September 2024, 06:27 AM

Gold pushed to new records as India demand reignites

India, the world's second largest consumer of gold jewellery, cut the import tax on gold in July to six percent from 15 percent, sparking a significant increase in appetite for gold jewellery, bars and coins
28 September 2024, 06:13 AM

US Fed's preferred inflation measure edges down in August

The personal consumption expenditures (PCE) price index was up 2.2 percent from a year ago in August, down from 2.5 percent in July, the Commerce Department said
28 September 2024, 06:03 AM

UK consumer sentiment sinks on fiscal worries, trade body says

British consumers have grown more gloomy over the past month following the new Labour government's removal of a welfare benefit for pensioners and warning of tax rises at next month's budget, a new survey from a trade body showed on Thursday
26 September 2024, 11:38 AM

H&M abandons 2024 margin target as markdowns and costs hurt profit

H&M scrapped its earnings margin target for 2024 as higher discounting, costs and fierce competition hurt operating profit in the third quarter, sending shares in the world's No.2 listed fashion retailer down as much as 8 percent
26 September 2024, 08:37 AM

China admits economy facing new 'problems', vows to fix property sector

China's top leaders, including President Xi Jinping, admitted Thursday that the economy was facing new "problems" and vowed to resolve a long-running housing sector crisis, state media said
26 September 2024, 06:50 AM

German consumer morale improves despite economic gloom

German shoppers are heading into October feeling slightly more optimistic, a key survey showed Thursday, even as the outlook for Europe's biggest economy remains gloomy
26 September 2024, 06:02 AM

China considers $142 bn injection for state banks: report

Chinese leaders are considering pumping more than $140 billion into the country's large state-run banks in the first such move to support the flagging economy
26 September 2024, 05:12 AM