Global Economy

Global Economy

Sri Lanka economy slows ahead of presidential elections

Sri Lanka’s economic growth slowed, government data showed Sunday, days ahead of the first presidential elections since an unprecedented financial meltdown in 2022.

8h ago

India accuses Samsung, Xiaomi of colluding with Amazon, Flipkart

Samsung, Xiaomi and other smartphone companies colluded with Amazon and Walmart's Flipkart to exclusively launch products on the e-commerce firms' Indian websites in breach of antitrust laws, according to regulatory reports seen by Reuters.

21h ago

US Fed expected to announce its first interest rate cut since 2020

The Federal Reserve is gearing up to announce its first interest rate cut for more than four years on Wednesday, with policymakers expected to debate how big a move to make less than two months before the US presidential election.

21h ago

US finalises sharp tariff hikes on Chinese EVs, other goods

The United States locked in tariff hikes on billions of dollars worth of Chinese goods Friday, with a 100 percent duty on electric vehicles and 25 percent on EV batteries taking effect in two weeks.

1d ago

India sharply raises import tax on edible oils to support farmers

India has raised the basic import tax on crude and refined edible oils by 20 percentage points

1d ago

Cash-strapped Maldives says no need for IMF bailout

The Maldives says its financial troubles are "temporary" and the luxury tourist destination has no plans to seek an International Monetary Fund bailout after warnings of a possible sovereign default

1d ago

US moves to curb 'trade loophole' over China worries

The US government said Friday it will work to curb the "overuse and abuse" of a mechanism allowing lower-value imports to enter the country duty-free, as concerns grow over Chinese shipments

1d ago

China retail sales, industrial production slow in August

Chinese retail sales and industrial production growth slowed in August, official data showed Saturday, as leaders in Beijing seek paths to achieve growth targets despite consumers' reluctance to spend

1d ago

Kenya court halts Adani airport deal

Kenya's High Court has halted a controversial deal for Indian firm Adani to take over the country's main airport -- a decision hailed by critics on Tuesday as "a win for the Kenyan people"

1d ago

Optimism of US firms in China at record lows: report

American firms in China are grappling with an unprecedented web of challenges, a business group said Thursday, as economic woes and geopolitical tensions drag optimism and profitability to all-time lows.

3d ago

China gives duty-free access to all products of Bangladesh

China has decided to provide 100 percent duty-free access to products from Bangladesh, as well as other least developed countries (LDCs).

3d ago

With inflation slowing, ECB to cut rates again

With inflation slowing and the economic outlook darkening, the European Central Bank is expected to cut interest rates again Thursday but is unlikely to give much away about its next moves

3d ago

China slams Canadian tariff proposal as 'dangerous'

China's Commerce Ministry on Wednesday called Canada's intention to impose further tariffs on its batteries, tech products and critical minerals "dangerous," according to state media

3d ago

Optimism of US firms in China at record lows: report

American firms in China are grappling with an unprecedented web of challenges, a business group said Thursday, as economic woes and geopolitical tensions drag optimism and profitability to all-time lows

3d ago

Harris, Trump cross swords on China and economy in debate

US presidential hopefuls Kamala Harris and Donald Trump clashed on China and economic issues Tuesday, with the Democratic candidate saying he “sold us out” on China while the former president declared “they’ve destroyed the economy.”

4d ago

Zara owner Inditex posts record profit for first half

Zara owner Inditex, the world's biggest fashion retailer, posted a record net profit for the first half of the year on Wednesday, despite slower sales growth.

4d ago

Boeing August MAX deliveries to China highest since 2018

Corrects to say the August China MAX deliveries were highest since December 2018, not December 2019, with error due to incorrect information from Boeing. Headline has been corrected, along with story

4d ago

EU business lobby head says 'enormous waste' in Chinese EV sector

Overcapacity of Chinese electric vehicles is among the top concerns facing European firms in the country, the president of a business lobby warned Wednesday, decrying "enormous waste" in some key sectors.

4d ago
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