The poster child of China’s property crisis China Evergrande Group was officially declared in default by credit rating agency S&P Global on Friday after the sprawling firm missed a bond payment earlier this month.

European Central Bank policymakers were to gather on Thursday for a crunch meeting, as soaring inflation heaps pressure on the bank to wind down its stimulus just as a new coronavirus variant threatens to derail the recovery.

India has approved a $10 billion incentive plan to attract semiconductor and display manufacturers, its technology minister said on Wednesday, as part of a deepening push to establish the country as a global electronics production hub.

The European Parliament on Wednesday approved its proposal for major EU legislation to impose unprecedented restrictions on how tech giants do business.

Having averted a government shutdown and potential default this month, Democrats in the US Congress move on to the even harder task of passing President Joe Biden’s $1.75 trillion domestic investment bill.

US retail sales increased less than expected in November, likely payback after surging in the prior month as Americans started their holiday shopping early to avoid empty shelves.

US industrial production climbed in November to its highest level since the Covid-19 pandemic began, the Federal Reserve said Thursday.

Australian flag carrier Qantas on Thursday announced a deal to buy 40 Airbus aircraft, to renew its domestic fleet.

As the world hunkers down for Omicron, some investors might expect the global jet market to be withering away. Far from it.

The Federal Reserve said on Wednesday it would end its pandemic-era bond purchases in March and pave the way for three quarter-percentage-point interest rate hikes by the end of 2022 as the economy nears full employment and the US central bank copes with a surge of inflation.

The European Central Bank on Thursday said it would wind down pandemic-era bond buys as the eurozone comes under pressure from soaring inflation, even as concerns grow about the fast-spreading Omicron variant of the coronavirus.

Economic growth in the eurozone slowed to a nine-month low in December as a fresh wave of the coronavirus rattled businesses, especially in Germany, a closely watched survey said Thursday.

Sri Lanka’s economy shrank in the third quarter as a foreign exchange crisis wrecked its recovery from the coronavirus pandemic, official data showed Thursday.

The World Bank’s fund to help the world’s poorest nations got a $93 billion injection of cash to help scale up aid for pandemic recovery and other programs, the institution announced Wednesday.

Top executives of major US airlines will tell a Senate committee Wednesday they are ramping up hiring even as some raise concerns about a Covid-19 variant on demand, according to testimony seen by Reuters.

US lawmakers voted to raise the federal debt limit on Wednesday, eliminating the threat of a disastrous credit default with just hours to spare ahead of the deadline set by the Treasury.

The Federal Reserve opened its two-day policy meeting on Tuesday, focused squarely on how to address the troubling US inflation threat.

The Japanese government overstated construction orders data received from builders for years, Prime Minister Fumio Kishida said on Wednesday, an admission that could dent credibility of official statistics widely used by investors and economists.

British inflation has rocketed to its highest level for more than 10 years on broad-based price gains, data showed on Wednesday, sparking fears that wages will fail to keep pace on the eve of a Bank of England interest rate decision.

Russian investigators said yesterday they had detained tycoon Mikhail Fedyayev after a blast at a coal mine in Siberia that killed 51 people last month.