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.
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.
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.
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.
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.
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.
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.
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.
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.
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.