Most Asian currencies rose on Thursday, recovering a measure of recent losses as the dollar saw some profit taking, with the won appreciating sharply even as the Bank of Korea held interest rates after 18 months of hikes. The South Korean won rose 0.6% and was the best-performing Asian currency for the day, even as …
Taiwan’s exports in January likely fell for the fifth month in a row amid fears of a global recession, uncertainties due to the war in Ukraine, and the COVID situation in China impacting tech demand, according to a Reuters poll. Taiwan, a global hub for chip production and a key supplier to Apple Inc (NASDAQ:AAPL), …
The Chinese economy grew at a slower pace in the fourth quarter of 2022, data showed on Tuesday, as disruptions caused by the country’s now relaxed zero-COVID policy weighed heavily on business activity, although the reading still beat expectations. Chinese gross domestic product (GPD) grew at an annualized rate of 2.9% in the three months …
The U.S. dollar edged lower in early European trade Friday, continuing the previous session’s selloff after cooling U.S. inflation opened the way for the Federal Reserve to ease the pace of its interest rate hikes. At 03:05 ET (08:05 GMT), the US Dollar Index, which tracks the greenback against a basket of six other currencies, …
Oil prices were muted on Thursday, cutting short a three-day rally after data highlighted growing economic cracks in major crude importer China, while markets also speculated over whether the OPEC’s last meeting for the year will result in a supply cut. Chinese manufacturing activity- a bellwether for the economy- weakened substantially in November, official and …
Based on inflationary pressures, supply-chain challenges, and geopolitical concerns resulting from Russia’s invasion of Ukraine, the World Bank decreased India’s real gross domestic product (GDP) growth prediction for 2022-23 (FY23) to 7.5 percent from 8%. The multinational agency also cut its global growth prediction for 2022 to 2.9 percent from 4.1 percent in its latest …
In keeping with a jump in global energy costs, jet fuel prices were boosted by a whopping 5.3 percent on Monday, marking the ninth consecutive increase this year. According to a price announcement issued by state-owned fuel dealers, the price of aviation turbine fuel (ATF), which lets planes fly, has increased by Rs 6,188.25 per …
Officials stated on Thursday that Delhi had a record GST collection of Rs 2,898 crore in the first month of the fiscal year 2022-23. According to them, this is the city’s highest-ever April GST collection. According to them, the record GST collection is also a sign that the national capital’s economy is quickly rebounding after …
On Monday, India and the European Union (EU) decided to form a Trade and Technology Council, a strategic mechanism to address the issues of assuring trusted technology and security in the face of rapid geopolitical change – a move that is expected to strengthen their strategic partnership. The decision to form such a council will …
India risks a repeat of last summer’s power outages as soaring temperatures boost demand for coal that’s used to generate about 70 percent of the country’s electricity. The hottest March in more than a century has heralded an early start to summer, increasing power consumption by air conditioners and refrigerators. While state-run miner Coal India is producing …
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