Global Economy
Highest VAT depositor nine firms honoured
Three each from manufacturing, trading and services sectors
Renata all set to enter Australian pharma market
Levonorgestrel 1.5mg, a contraceptive pill, will be the inaugural product
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.
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.
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.
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.
Single point mooring transports 60,000 tonnes diesel in 35 hours
Earlier, it would take 10 days
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
Southeast Asia banks on aviation boom
Southeast Asia is becoming a hot property, with private and public players competing for an expanding market.
