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
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
Economic and trade development in the Asia-Pacific still faces many disturbances and challenges, China's commerce minister Wang Wentao said, reports Reuters. Wang made the comments at the Asia-Pacific Economic Cooperation (APEC) conference in Detroit, where he met with several leaders and ex
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
Singapore's key consumer price gauge rose 5.0 per cent in April, higher than forecast, official data showed on Tuesday, according to Reuters. Core inflation - which excludes private road transport and accommodation costs - rose 5.0 per cent year-on-year in April. A Reuters poll of economists had f
India's economy has sustained the growth momentum seen in the last fiscal quarter of 2022/23, while latest inflation outcome has been better than forecast, the Reserve Bank of India said on Monday. Growth in the first quarter of 2023/24 is expected to be driven by private consumption, a revi
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 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 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'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'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
The US is still projected to breach the debt ceiling as early as June 1, Treasury Secretary Janet Yellen reiterated in a new letter to Congress on Monday afternoon. Yellen's confirmation of the deadline means Congress has less than three weeks to act or risk a first-ever debt default, which carrie
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
