Global Economy
India’s economic growth to stay strong: poll
India’s economy will grow at a solid pace this fiscal year and next, according to a Reuters poll of economists, but they cautioned that key drivers such as job creation and household spending will only increase mildly over the next 12 months.
Boeing plans to launch effort to raise over $15 billion in capital as early as Monday, source says
The new capital is set to come from a mix of the sale of stock and convertible preferred shares, the source added, saying the total amount raised could rise based on demand.
Oil prices tumble as Iran fears ease, yen weakens after Japan polls
Oil prices fell as much as five percent in early trade before paring some of their losses
Ifad Autos exporting AC bus to Bhutan
Ifad Autos has become the first local automobile company to export airconditioned (AC) buses assembled in Bangladesh.
AIIB head criticises advanced nations for trade barriers
Asian Infrastructure Investment Bank (AIIB) President Jin Liqun on Saturday criticized advanced economies for creating trade barriers including for renewable energy goods, saying there was “no longer free trade” in the global economy.
Analysis / Biden's precise industrial policy may soon mutate
Two years into the US government’s attempt to lure manufacturing of semiconductors and renewable energy back home, the president’s top national security aide, Jake Sullivan, offered a defense of his boss’s major economic choices.
Indonesia bets on SE Asia's first battery plant to become EV hub
Hyundai said the new factory was a commitment to helping the archipelago become a supercharged Southeast Asian EV maker
China's second-generation factory owners go digital to combat challenges
Qiu has set up a marketing business that directly connects factories with foreign audiences, through videos posted on Instagram and TikTok, which in China can only be accessed using a VPN.
Rupee weakens
The Indian rupee declined on Monday as relief from the Credit Suisse rescue deal proved to be short-lived, with investors dumping risk assets on worries over a contagion in the global financial sector.
Gold tops $2,000 on Credit Suisse buyout
Gold topped $2,000 per ounce for the first time in more than a year on Monday on haven demand as investors fretted over global bank fears despite the buyout of Credit Suisse.
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.
UBS to take over Credit Suisse to stem global crisis of confidence
UBS will take over Credit Suisse, Swiss authorities said on Sunday, in a deal to combine Switzerland's top two banks designed to contain a widening crisis of confidence in global finance
Afghan female entrepreneurs seek out foreign markets
Dozens of Afghan businesswomen took part in an exhibition in Dubai remotely this week to promote carpets, jewellery, dried fruit and other handmade goods as part of a push to access international markets after work options for women shrank in Afghanistan under the Taliban administration.
Bank panic raises specter of 2008
The lightning speed at which the banking industry descended into turmoil has shaken global markets and governments, reviving eerie memories of the financial crisis. Like 2008, the effects may be long lasting.
Iraq in final stages of talks on $27b TotalEnergies agreement
Talks between French oil major TotalEnergies and Iraq to resolve sticking points in a long-delayed $27 billion energy deal “have reached advanced stages”, Iraqi oil minister Hayan Abdel-Ghani said on Sunday.
Ukraine Black Sea grain deal renewed
A deal allowing the safe Black Sea export of Ukrainian grain was renewed on Saturday for at least 60 days - half the intended period - after Russia warned any further extension beyond mid-May would depend on the removal of some Western sanctions.
Yellen says US banking system sound despite turmoil
The US banking system remains sound despite market anxiety over the recent collapse of Silicon Valley Bank (SVB) and Signature Bank, Treasury Secretary Janet Yellen told members of Congress on Thursday.
Startups of India have deposits of $1b in SVB
Indian startups had deposits worth about $1 billion with embattled Silicon Valley Bank and the country’s deputy IT minister said he had suggested that local banks lend more to them going ahead.