Foxconn beats estimates with record third-quarter revenue on AI demand

Revenue for Apple's biggest iPhone assembler jumped 20.2 percent year on year to T$1.85 trillion ($57.3 billion)
6 October 2024, 05:07 AM

China home sales rise after stimulus measures, state media says

More than 50 cities introduced policies to boost the real estate market, while nearly 2,000 developments from more than 1,000 property companies participated in promotions
6 October 2024, 05:02 AM

Sri Lanka approves controversial foreign debt deal

Sri Lanka’s new government has approved a controversial restructure of $14.7 billion in foreign commercial credit tentatively agreed by its predecessor, the finance ministry said Saturday.
5 October 2024, 18:00 PM

Oil settles up, biggest weekly gains in over a year on Middle East risk

Oil prices rose on Friday and settled with their biggest weekly gains in over a year on the mounting threat of a region-wide war in the Middle East, although gains were limited as US President Joe Biden discouraged Israel from targeting Iranian oil facilities.
5 October 2024, 18:00 PM

As EU targets Chinese cars, European rivals sputter

As the EU seeks to put a brake on competition from Chinese electric cars, European automakers are stuck in second gear.
5 October 2024, 18:00 PM

Global food prices rise at fastest rate since 2022

The FAO Food Price Index reached 124.4 points in September, a three-percent increase from August.
5 October 2024, 11:07 AM

EU states greenlight extra tariffs on EVs from China

Ten member states including France, Italy and Poland supported imposing the tariffs of up to 35.3 percent, coming on top of existing duties of 10 percent
5 October 2024, 09:00 AM

US hiring soars past expectations in sign of resilient market

The world's biggest economy added 254,000 jobs last month
5 October 2024, 07:08 AM

Oil extends gains, jobs report lifts Wall Street

Crude prices rocketed around five percent Thursday when US President Joe Biden said he was "discussing" possible Israeli strikes on Iranian oil sites in retaliation for Tehran's barrage
5 October 2024, 04:47 AM

US trade chief defends tariff hikes when paired with investment

Tai's comments to AFP come a week after sharp tariff increases on Chinese electric vehicles, EV batteries and solar cells took effect
5 October 2024, 04:40 AM

Sri Lanka approves controversial foreign debt deal

President Anura Kumara Dissanayake said his government would honour his predecessor's deal
5 October 2024, 04:33 AM

Bank of England warns of prolonged economic risk

The British economy remains open to financial market shocks amid geopolitical tensions and high levels of public debt in major economies, the Bank of England warned on Wednesday.
3 October 2024, 18:00 PM

Gulf turmoil will leave ratesetters on edge

Central bankers are probably watching unfolding events in the Middle East through their fingers. Tuesday’s strike by Iran on Israel raises the risk of a robust riposte. One of the dangers facing the global economy is that the conflict makes a mess of ratesetters’ plans to loosen monetary policy.
3 October 2024, 18:00 PM

Cabinet approves new export policy

The policy targets $110 billion export by FY27
3 October 2024, 13:42 PM

How is US dockers' strike affecting international trade?

US dockers launched strike action on Tuesday in 36 ports on the East Coast and Gulf of Mexico. Around half of North America's maritime trade passes through those ports
3 October 2024, 08:22 AM

Climate change, economics muddy West's drive to curb Chinese EVs

The European Parliament is expected to vote Friday on whether to impose hefty tariffs on imported EVs from China -- part of a bid to protect its automotive industry from low-cost, subsidised competition
3 October 2024, 06:19 AM

Samsung says planning job cuts in some Asian operations

The world's largest memory chipmaker is modifying staffing levels in Southeast Asia, Australia, and New Zealand, a company spokesman told AFP, adding that "the adjustments include job cuts"
3 October 2024, 04:55 AM

Why oil price yet to ignite on Middle East escalation?

Benchmark oil contract, Brent North Sea crude, has rallied about five dollars this week after Iran's missile attack on Israel -- but remaining around $75 per barrel
3 October 2024, 04:50 AM

Oil extends rally after Iran attack

Oil prices extended a rally Wednesday after Iran’s missile attack on Israel fanned fears of a Middle East-wide conflict, while the Hong Kong market ploughed on with its China-fuelled surge as developers saw eye-watering gains.
2 October 2024, 18:00 PM

US factory activity shrinks for sixth month

US manufacturing activity contracted for a sixth straight month in September, according to survey data released Tuesday, with demand remaining weak and new export orders slumping.
2 October 2024, 18:00 PM