Manufactured goods orders of US edge down in Feb

Orders of big-ticket manufactured items ticked down in February on a slump in defense aircraft and parts, according to US government data released Friday.

Kuwait political crisis drags down economy

A seemingly never-ending political crisis is plunging oil-rich Kuwait’s economy into the mire, affecting basic services and causing mounting public concern.

UK retail sales rebound

Cash-strapped British households cut back on eating out and takeaways last month and instead bought food at supermarkets and shopped at discount stores, giving an unexpected boost to retail sales, official data showed on Friday.

Fed lifts key interest rate

The US Federal Reserve raised its benchmark lending rate on Wednesday, as it sought to strike a balance between curbing high inflation and averting further upheaval in the commercial banking sector.

US Federal Reserve raises interest rates amid global banking turmoil

The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point, but indicated it was on the verge of pausing further increases in borrowing costs amid recent turmoil in financial markets spurred by the collapse of two US banks

UBS swallows doomed Credit Suisse

UBS Group emerged as Switzerland’s one and only global bank with a state-backed rescue of its smaller peer Credit Suisse, a risky bet that makes the Swiss economy more dependent on a single lender.

Manufactured goods orders of US edge down in Feb

Orders of big-ticket manufactured items ticked down in February on a slump in defense aircraft and parts, according to US government data released Friday.

19h ago

UK retail sales rebound

Cash-strapped British households cut back on eating out and takeaways last month and instead bought food at supermarkets and shopped at discount stores, giving an unexpected boost to retail sales, official data showed on Friday.

19h ago

What’s behind bitcoin’s latest surge?

At the turn of the year, bitcoin was in the grip of a bleak midwinter, down and out after a 2022 defined by tumbling crypto prices, bankruptcies and corporate scandals.

19h ago

HK maintains fourth place in Global Financial Centres Index

Hong Kong maintained fourth place globally in the Global Financial Centres Index (GFCI) 33 Report published on Thursday by the Z/Yen from the United Kingdom and the China Development Institute from Shenzhen.

19h ago

Standard Chartered agrees to sell business in Jordan

Standard Chartered plans to sell its Jordanian business to Arab Jordan Investment Bank (AJIB), the two parties said on Sunday, as the emerging markets-focused lender presses ahead with plans to exit seven markets in Africa and the Middle East.

19h ago

Korean battery makers hint at ‘price war’ with Chinese rivals

After years of a high-pricing, premium strategy, South Korea’s top three battery makers -- LG Energy Solution, Samsung SDI and SK On -- are increasingly turning their eyes to low-priced batteries in an apparent move to prevent ceding more market share to their fast-growing Chinese rivals in the soaring global electric vehicle market.

19h ago

EU, Germany reach deal on fossil fuel car phaseout plan

The European Union and Germany on Saturday said they had struck a deal after a dispute over the planned phaseout by 2035 of the sale of cars using fossil fuels.

19h ago

Kuwait political crisis drags down economy

A seemingly never-ending political crisis is plunging oil-rich Kuwait’s economy into the mire, affecting basic services and causing mounting public concern.

19h ago

IMF says risks to financial stability have increased, calls for vigilance

The IMF, which has predicted global growth of 2.9 per cent this year, is slated to release new forecasts next month.

1d ago

US business activity accelerates

US business activity gained steam in March as orders rebounded for the first time in six months, according to a survey on Friday, which also suggested that inflation could continue to slow gradually.

1d ago