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The Financial Express

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Slow Gulf economic recovery to have long-lasting impact on banks

Slow Gulf economic recovery to have long-lasting impact on banks

REUTERS 2021-03-14 14:11:54

Economic recovery from the coronavirus crisis in the oil-rich Gulf region will be slow, weighing on the region’s banking sector, S&P Global Ratings said. Gulf countries fell into a sharp re...

African economies likely to grow 3.4pc this year, AfDB says

African economies likely to grow 3.4pc this year, AfDB says

-- 2021-03-13 13:39:12

African economies are expected to grow by an average of 3.4 per cent this year, the African Development Bank said, as the continent recovers from its worst contraction in half a century. The 54 econo...

China's Ant Group CEO leaves after failed IPO prompts revamp

China's Ant Group CEO leaves after failed IPO prompts revamp

Reuters 2021-03-13 11:28:55

China’s Ant Group Chief Executive Officer Simon Hu has unexpectedly resigned amid a regulatory-driven overhaul of the financial technology giant’s business, the first top management exit s...

UK economy shrank by less than feared in January

UK economy shrank by less than feared in January

REUTERS 2021-03-12 14:30:07

Britain’s economy shrank by less than feared in January as the country went back into a coronavirus lockdown, official data showed, but trade with the European Union was hit hard at the start of...

ECB signals faster money-printing

ECB signals faster money-printing

Reuters 2021-03-12 10:27:04

The European Central Bank said on Thursday it would accelerate money-printing to keep a lid on euro zone borrowing costs, signalling to sceptical markets that it is determined to lay the foundation fo...

AMC Entertainment bets on new movie releases

AMC Entertainment bets on new movie releases

-- 2021-03-12 09:20:43

AMC Entertainment Holdings Inc has said the roll-out of COVID-19 vaccines and the release of major movies, including Walt Disney Co’s “Black Widow”, would boost sales this year, send...

SoftBank-backed Coupang surges to over $100b valuation in debut

SoftBank-backed Coupang surges to over $100b valuation in debut

-- 2021-03-12 09:13:47

SoftBank Group Corp-backed Coupang was valued at around $109 billion in its market debut on Thursday after South Korea’s largest e-commerce company raised around $4.6 billion in the biggest US i...

Singapore's GDP expected to grow 5.8pc in 2021

Singapore's GDP expected to grow 5.8pc in 2021

-- 2021-03-10 14:03:30

The Monetary Authority of Singapore (MAS) has said in a report that economists and analysts polled in the Survey of Professional Forecasters expect Singapore's gross domestic product (GDP) to grow 5.8...

Tesla lifts off, rockets toward best day since 2013

Tesla lifts off, rockets toward best day since 2013

-- 2021-03-10 13:42:46

Shares of electric vehicle maker Tesla Inc surged nearly 20 per cent on Tuesday, rebounding from a deep selloff with its largest daily gain in a year after data showed an increase in China sales and a...

GameStop shares soar more than 20pc

GameStop shares soar more than 20pc

-- 2021-03-10 11:43:09

Shares of GameStop jumped on Tuesday for the fifth straight day, as the meme stock rally that began earlier this year got more juice on news about the video game retailer’s e-commerce strategy a...

Tesla loses more than $244b in a month

Tesla loses more than $244b in a month

-- 2021-03-09 10:21:45

Shares of Tesla Inc closed lower for a fifth consecutive session on Monday, caught in a tech-led selloff that has wiped more than $277 billion off the company’s market value over the last month....

Asian shares come off one-month lows

Asian shares come off one-month lows

REUTERS 2021-03-05 14:10:38

A late rally in Chinese shares on Friday helped pull Asian stocks off one-month lows as investors picked bargains while attention shifted to US non-farm payrolls due later in the day. E-Mini futures...

Vietnam's cloth import rises over two months

Vietnam's cloth import rises over two months

-- 2021-03-05 10:38:10

Vietnam spent nearly 1.9 billion US dollars importing cloth in the first two months of this year, posting a year-on-year rise of 17.6 per cent, according to the country's General Statistics Office on...

China restores GDP growth target after economic rebound

China restores GDP growth target after economic rebound

REUTERS 2021-03-05 08:39:11

China on Friday restored its annual economic growth target, setting it at above 6.0 per cent, and pledged to create more jobs in cities than last year, as the world’s second-biggest economy emer...

US private payrolls miss expectations

US private payrolls miss expectations

-- 2021-03-04 12:13:36

US private payrolls increased less than expected in February amid job losses in manufacturing and construction, suggesting the labour market was struggling to regain speed despite the nation’s i...

Alphabet-backed Oscar Health valued at $7.09b in lacklustre debut

Alphabet-backed Oscar Health valued at $7.09b in lacklustre debut

-- 2021-03-04 11:13:52

Shares of Oscar Health fell more than 7 per cent in their stock market debut on Wednesday, fetching a valuation of just over $7 billion for the health insurance start-up backed by Google parent Alphab...

Big economies agree to boost IMF funding

Big economies agree to boost IMF funding

-- 2021-03-03 10:39:55

G20 major economies have agreed to raise International Monetary Fund reserves with a new allocation of the fund’s own special drawing rights (SDRs) currency, the IMF’s head said on Tuesday...

US Democrats backpedal on raising minimum wage, but hopes for hike alive

US Democrats backpedal on raising minimum wage, but hopes for hike alive

-- 2021-03-02 09:55:06

The US Senate will start debating President Joe Biden’s $1.9 trillion coronavirus relief bill this week, Senate Majority Leader Chuck Schumer said on Monday after Democrats backed down from an e...

Sky begins to clear over US economy

Sky begins to clear over US economy

Reuters 2021-03-02 09:52:03

Despite the US economy’s near miss with a depression last year and an ongoing coronavirus pandemic that has brought travel to a virtual halt, Jeff Hurst, the chief executive of vacation rental f...

Danone takes step to sell Chinese asset, following pressure from shareholders

Danone takes step to sell Chinese asset, following pressure from shareholders

REUTERS 2021-03-01 10:27:45

Danone said on Sunday it was taking a first step towards selling off its stake in its Chinese dairy partner as the French food group faces pressure from shareholders to improve its performance and gov...

China's factory activity expands at a slower pace in February

China's factory activity expands at a slower pace in February

-- 2021-03-01 10:10:27

China’s factory activity expanded in February at a slower pace than a month earlier, hitting the lowest level since last May and missing market expectations after brief COVID-19-related disrupti...

GameStop rally fizzles

GameStop rally fizzles

-- 2021-02-27 09:10:15

GameStop Corp closed 6 per cent lower on Friday as an early rally fizzled but the stock finished the week 151 per cent higher in a renewed surge that left analysts puzzled. The video game retailer's...

China central bank adviser predicts 8-9pc GDP growth in 2021

China central bank adviser predicts 8-9pc GDP growth in 2021

-- 2021-02-26 10:33:32

China’s gross domestic product (GDP) could expand 8-9 per cent in 2021 as it continues to rebound from the COVID-19 pandemic, Liu Shijin, a policy adviser to the People’s Bank of China, sa...

Saudi Arabia's PIF launches $3b tourism, infrastructure venture

Saudi Arabia's PIF launches $3b tourism, infrastructure venture

Reuters 2021-02-25 13:02:12

Saudi Arabia’s Public Investment Fund (PIF) launched a new venture that will invest $3 billion in developing tourism and infrastructure in the southwestern Asir region, the state news agency SPA...

Asian shares jump

Asian shares jump

Reuters 2021-02-25 12:06:10

Asian stocks jumped on Thursday after US Federal Reserve Chair Jerome Powell reaffirmed interest rates would stay low for a long time, calming market fears that higher inflation might prompt the centr...

StandChart 2020 pretax profit falls 57pc, misses estimates

StandChart 2020 pretax profit falls 57pc, misses estimates

Reuters 2021-02-25 11:45:47

Standard Chartered on Thursday restored its dividend and reaffirmed its long-term profit goals, in a show of confidence about its ability to recover from the impact of the Covid-19 pandemic even...

Bitcoin's steep drop drags billions off Tesla value, Musk wealth

Bitcoin's steep drop drags billions off Tesla value, Musk wealth

-- 2021-02-24 11:21:46

Bitcoin, shares of Tesla, and a high-flying exchange traded fund (ETF) fell on Tuesday, retreating from recent rallies in a volatile session that gave investors a gut check. It was the latest sign of...

Online platforms targetted by EU

Online platforms targetted by EU

-- 2021-02-24 10:25:36

Online platforms like Robinhood in the United States that offer commission-free share trading to retail investors would be illegal in the European Union, officials from the bloc said on Tuesday. Onli...

EU to call on G20 not to withdraw Covid-19 stimulus too early

EU to call on G20 not to withdraw Covid-19 stimulus too early

-- 2021-02-23 11:16:59

The European Union will call on financial leaders of the world’s 20 biggest economies this week to keep pumping money into the global economy as long as is needed for it to recover from the Covi...

Myanmar anti-coup protests shut businesses

Myanmar anti-coup protests shut businesses

-- 2021-02-22 11:28:15

Businesses shut in Myanmar on Monday in a general strike called to oppose the military coup and thousands of protesters gathered despite a threat from authorities that confrontation could cost lives....