Oil climbs on drop in Russia exports, Red Sea jitters

Oil prices rose in Asian trade on Monday, rising nearly 1% in early trade, supported by lower exports from Russia and as attacks by the Houthis on ships in the Red Sea raised concerns of oil supply disruption.
18 December 2023, 06:55 AM

Chinese firms look to Malaysia for assembly of high-end chips, sources say

A growing number of Chinese semiconductor design companies are tapping Malaysian firms to assemble a portion of their high-end chips, keen to hedge risks in case the US expands sanctions on China's chip industry, sources said.
18 December 2023, 06:50 AM

Asian markets mostly down as Fed rate-cut rally fades

Asian markets fell Monday as traders took a step back following last week's rally, with Federal Reserve officials looking to temper expectations the US central bank will cut interest rates several times next year.
18 December 2023, 06:30 AM

China's economic conditions to improve in 2024 - officials

China's economy is expected to see more favourable conditions and more opportunities than challenges in 2024, state media said citing officials of the Chinese Communist Party's finance and economy office.
18 December 2023, 06:10 AM

Asian fertiliser buyers turn away from key exporter China amid growing curbs

Asian fertiliser buyers are seeking alternatives to Chinese supplies on concerns the world's top exporter has become an increasingly unreliable supplier after curbs on shipments to protect its domestic market, buyers and analysts said..China is the world's biggest exporter of phosphate and
18 December 2023, 05:27 AM

Indonesia and Japan agree on removing more trade barriers

Japan will allow greater access for Indonesian products including by removing tariffs on processed fishery items and the two countries will improve relations in the banking sector
17 December 2023, 11:52 AM

Nissan to export China-developed EVs to global markets

Nissan Motor (7201.T) said on Sunday it would sell China-developed electric vehicles (EVs) globally as it struck a deal with the country's top university to leverage local resources to accelerate research and development on electrification.
17 December 2023, 05:58 AM

More shipping giants suspend passage via Red Sea after attacks

Two more major shipping firms, Mediterranean Shipping Company and CMA CGM, said on Saturday they were suspending passage through a Red Sea strait vital for global trade, after Yemeni rebel attacks in the area.
17 December 2023, 05:49 AM

Has the Fed won the battle against inflation?

The US Federal Reserve's decision to hold its key lending rate on Wednesday and pencil in three interest rate cuts next year has fueled optimism that its inflation battle is won.
17 December 2023, 05:44 AM

A $6 trillion cash hoard could fuel more US stock gains as Fed pivots

Investors wondering whether markets can continue their torrid rally are eyeing one important factor that could boost assets: a nearly $6 trillion pile of cash on the sidelines.
16 December 2023, 08:48 AM

Canada print media to get two-thirds of Google's payment to news outlets

Canada's print media will receive nearly two-thirds of an annual Can$100 million (US$75 million) payment from Google to the country's news outlets in exchange for distribution of their content, the federal government announced Friday.
16 December 2023, 07:46 AM

Shipping firms suspend Red Sea traffic after Yemen rebel strikes

Two of the world's largest shipping firms, Maersk and Hapag-Lloyd, said Friday they were suspending passage through a Red Sea strait vital for global commerce, after Yemeni rebel attacks in the area..The Iran-backed Huthis, who control much of Yemen but are not recognised internationally,
16 December 2023, 06:40 AM

US opens probe into over 450,000 Nissan vehicles on engine failure concerns

A US auto safety regulator said on Friday it will open an investigation into about 454,840 Nissan vehicles over reports alleging engine failure that can lead to a loss of motive power with no ability to re-start.
16 December 2023, 06:04 AM

Number of US homeless people hit record level in 2023: report

The number of homeless people in the United States rose to record levels this year, according to a government report released on Friday.
16 December 2023, 05:54 AM

China's ban on Apple's iPhone accelerates

More Chinese agencies and state-backed companies across the country have asked their staff to not bring Apple (AAPL.O) iPhones and other foreign devices to work, Bloomberg News reported on Friday, citing people familiar with the matter.
16 December 2023, 05:37 AM

Intel chief ready to go it alone on chip manufacturing

Intel Chief Executive Pat Gelsinger on Thursday said the company has no plans to spin out its contract chip manufacturing business
16 December 2023, 05:29 AM

IMF injected cash into Bangladesh, Sri Lanka. Are the two economies diverging?

Bangladesh and Sri Lanka have received loan payouts from IMF, strengthening their buffers against risks to foreign exchange reserves
14 December 2023, 00:10 AM

Bankers cut US dollar rates by Tk 0.25

Banks will buy US dollar at Tk 109.5 from exporters and sell at Tk 110
13 December 2023, 16:49 PM

Oh, Christmas tree: The economics of the US holiday tree industry

Christmas today is a big business, and one part of that is the multibillion-dollar business of selling Christmas trees. The U.S. Christmas tree industry is so large, it even has two dueling trade groups: one that supports natural trees and the other, artificial..We are two business school
13 December 2023, 13:10 PM

Sri Lanka's second review of $2.9 bln IMF bailout possible in first half of 2024 - official

The second review of Sri Lanka's $2.9 billion bailout with the IMF could be completed in the first half of 2024, provided it manages to meet debt restructuring and revenue targets set under the programme, an official said on Wednesday.
13 December 2023, 07:33 AM