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.
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.
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.
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.
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
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
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
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
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"
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.
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).
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
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
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
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.”
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.
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
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.
