Economy / Global

Turkish lira slips as Erdogan secures victory

Turkish lira slips as Erdogan secures victory

Turkey's lira slipped towards a fresh record low against the dollar as President Tayyip Erdogan secured victory in the country's presidential election on Sunday, extending his increasingly authoritarian rule into a third decade. The currency hovered above the 20.00 to the dollar threshold as tradi


Low growth, high inflation are top risks for India: economists

Low growth, high inflation are top risks for India: economists

India's economy will grow about 6.0% this fiscal year with a small increase in private investment, according to a Reuters poll of economists who said lower growth and high inflation were the biggest risks to the outlook. While that was expected to be faster than other major economies, India

Speakers for exploring untapped potential in SAARC region

Speakers for exploring untapped potential in SAARC region

Speakers at a conference on Wednesday laid emphasis on exploring the vast untapped potential in SAARC region. They observed that the SAARC has low intra-regional trade of five per cent which means there is still vast untapped potential. "It is more important than ever we must recognise the signif

Argentina's new top banknote is worth as little as $4

Argentina's new top banknote is worth as little as $4

Argentina's new 2,000-peso bill, the largest denomination note, went into circulation on Monday, though due to fast depreciation of the currency it is worth only $8.50 at the official exchange rate and just over $4 in commonly used parallel markets. The peso has shed around a quarter of its

Oil prices down 1.0pc as US debt caution offsets supply worries

Oil prices down 1.0pc as US debt caution offsets supply worries

Oil prices slipped on Monday as caution around US debt ceiling talks and concerns about demand recovery in China offset support from lower supplies from Canada and OPEC+ producers. Brent crude futures fell 73 cents, or 0.97 per cent, to $74.85 a barrel by 0634 GMT, while US West Texas Intermediate

India to withdraw 2,000-rupee notes from circulation

India to withdraw 2,000-rupee notes from circulation

India will start withdrawing its highest value currency notes from circulation, the central bank said on Friday, in a move that economists said could boost bank deposits at a time of high credit growth. The withdrawal of 2,000-rupee ($24.5) notes - which the finance ministry's top official, T.V So

Japan emerges from recession on post-COVID consumer rebound

Japan emerges from recession on post-COVID consumer rebound

Japan's economy emerged from recession and grew faster than expected in the first quarter as a post-COVID consumption rebound offset global headwinds, shoring up hopes for a sustained recovery, reports Reuters.  But mounting signs of a slowdown in US, European and Chinese growth cloud the out

Japan emerges from recession on post-COVID consumer rebound

Japan emerges from recession on post-COVID consumer rebound

Japan's economy emerged from recession and grew faster than expected in the first quarter as a post-COVID consumption rebound offset global headwinds, shoring up hopes for a sustained recovery. But mounting signs of a slowdown in US, European and Chinese growth cloud the outlook for the export-rel

Germany scales down LNG terminal plans as supply crisis eases

Germany scales down LNG terminal plans as supply crisis eases

Germany will almost halve planned capacity for liquefied natural gas (LNG) terminals in the Baltic Sea, a government source said, as Berlin revaluates its LNG needs given local resistance and an easing of energy bottlenecks. Two floating LNG terminals are to be sited at Mukran off the Ruegen coast