Global Economy

Global Economy

Highest VAT depositor nine firms honoured

Three each from manufacturing, trading and services sectors

10h ago

Renata all set to enter Australian pharma market

Levonorgestrel 1.5mg, a contraceptive pill, will be the inaugural product

11h ago

COP28 clashes over fossil fuel phase-out after OPEC pushback

Countries clashed on Saturday over a possible agreement to phase-out fossil fuels at the COP28 summit in Dubai, jeopardising attempts to deliver a first-ever commitment to eventually end the use of oil and gas in 30 years of global warming talks.

15h ago

US Fed expected to pause again as inflation edges closer to target

The US Federal Reserve is widely expected to hold interest rates at a 22-year high for a third consecutive meeting on Wednesday as it continues to fight elevated inflation.

16h ago

No 'single solution' for energy transition: OPEC chief

The OPEC oil cartel said Saturday there was no "single solution" to the energy transition as pressure grows to agree a phase-out of fossil fuels at the COP28 climate talks.

16h ago

Australia to triple fees on foreign purchasers of existing homes

The centre-left Labor government would also cut application fees for foreign investment in "build to rent" projects to encourage construction of more homes, Chalmers said.

17h ago

Microsoft, OpenAI tie-up comes under antitrust scrutiny

Microsoft's (MSFT.O) partnership with ChatGPT maker OpenAI is under US and UK antitrust scrutiny, the British regulator and a media report said on Friday, following the startup's boardroom battle that led to the sudden ouster and return of CEO Sam Altman.

1d ago

Livestock produces 12% of human greenhouse gases: FAO

Livestock is responsible for 12 percent of greenhouse gas emissions caused by humans and its impact will only increase as meat consumption rises, the UN Food and Agriculture Organization said Friday.

1d ago

India extends export curbs on onions until Mar 31 

India has extended the ban on the exports of onion till March next year with a view to increasing availability in domestic markets and to keep prices in check, according to a notification issued by the Directorate General of Foreign Trade yesterday. 

2d ago

Oil rebounds from six-month-low but demand concerns linger

Oil prices reclaimed some ground on Thursday after tumbling to a six-month low in the previous session but investors remained concerned about sluggish demand and economic slowdowns in the US and China.

3d ago

China says exports rise for first time in seven months

Chinese exports rose in November for the first time in seven months, officials said Thursday, as the country navigates a troubled recovery from the Covid-19 pandemic.

3d ago

COP28 head presses nations to reach climate 'compromise'

It is rare for UN climate talks to end as scheduled but COP28 president Sultan Al Jaber set the ambitious goal of having a deal in place by 11:00 am (0700 GMT) on Tuesday, the last official day of the conference.

3d ago

Airlines expect record 4.7 bn passengers in 2024: IATA

IATA also raised its profit outlook, expecting airlines to post $23.3 billion in net earnings in 2023, more than double the $9.8 billion it forecast in June.

4d ago

COP28 summit: Global dairy companies join alliance to cut methane

Six of the world's largest dairy companies will soon begin disclosing their methane emissions as part of a new global alliance launched at the United Nations climate summit in Dubai on Tuesday.

4d ago

World Bank's Banga calls for record replenishment of fund for poorest countries

World Bank President Ajay Banga on Wednesday called on member countries to make the next replenishment of the lender's fund for the world's poorest countries the largest ever, warning that the International Development Association (IDA) was being pushed to its limits by increasing demands..<p

4d ago

Myanmar central bank to no longer set forex rates

The report gave no reason for Tuesday's decision by the Central Bank of Myanmar (CBM) and no notice of the policy change was posted on the CBM's website. Calls to the CBM went unanswered early on Wednesday.

4d ago

Southeast Asia banks on aviation boom

Southeast Asia is becoming a hot property, with private and public players competing for an expanding market.

4d ago
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