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Search results for: global

In 'miracle' city Shenzhen, fears for China's economic future

In 'miracle' city Shenzhen, fears for China's economic future

REUTERS 2022-06-13 12:52:16

David Fong made his way from a poor village in central China to the southern boomtown of Shenzhen as a young man in 1997. Over the next 25 years he worked for a succession of overseas manufacturers be...

Malaysia firms are refusing orders due to shortage of migrant labour

Malaysia firms are refusing orders due to shortage of migrant labour

-- 2022-06-13 09:10:03

Malaysian companies from palm oil plantations to semiconductor makers are refusing orders and forgoing billions in sales, hampered by a shortage of more than a million workers that threatens the count...

Pakistan adopts painful economic path to secure IMF bailout

Pakistan adopts painful economic path to secure IMF bailout

-- 2022-06-11 10:38:13

Pakistan will raise taxes for rich, cut tax leakages and privatise government assets as the cash-strapped nation looks to bring back fiscal rectitude to convince the International Monetary Fund (IMF)...

US annual inflation posts largest gain since 1981

US annual inflation posts largest gain since 1981

-- 2022-06-10 23:46:31

US consumer prices accelerated in May as gasoline prices hit a record high and the cost of food soared, leading to the largest annual increase in nearly 40-1/2 years, suggesting that the Federal Reser...

Ukraine war: 11m to 19m may face hunger due to reduced commodity exports

Ukraine war: 11m to 19m may face hunger due to reduced commodity exports

-- 2022-06-10 19:22:43

Reduced exports of wheat and other food commodities from Ukraine and Russia risk leaving between 11 million and 19 million more people with chronic hunger over the next year, the United Nations' food...

Russia slashes key interest rate to pre-crisis level of 9.5pc

Russia slashes key interest rate to pre-crisis level of 9.5pc

-- 2022-06-10 18:20:34

Russia's central bank has slashed its key interest rate to 11 per cent and said it saw room for more cuts this year, as inflation slows from more than 20-year highs and the economy heads towards a con...

Cost of living: The shock of rising prices in Japan

Cost of living: The shock of rising prices in Japan

BBC 2022-06-09 12:15:33

As a child growing up in Japan, things very rarely seemed to get more expensive. My favourite lunch was always available for a 500 yen coin ($3.90; £3.10) and it remained that way until...

Microsoft scales down Russia operations due to Ukraine crisis

Microsoft scales down Russia operations due to Ukraine crisis

-- 2022-06-09 10:11:34

Microsoft Corp said on Wednesday it was making substantial cuts to its business in Russia, joining a string of companies that are reducing their exposure or pulling out of the country following its in...

Turkey struggles to push Russia, Ukraine into grain deal to ease food crisis

Turkey struggles to push Russia, Ukraine into grain deal to ease food crisis

-- 2022-06-08 23:21:48

Turkish efforts to ease a global food crisis by negotiating safe passage for grain stuck in Black Sea ports met resistance as Ukraine said Russia was imposing unreasonable conditions and the Kremlin s...

Russia's economic slump will wipe out 15 years of gains, says global banking group

Russia's economic slump will wipe out 15 years of gains, says global banking group

-- 2022-06-08 22:18:46

Russia's economy will shrink 15 per cent this year and 3 per cent in 2023 as the hit from Western sanctions, an exodus of companies, a Russian "brain-drain" and collapse in exports wipe out 15 years o...

India raises rates for second straight month to tackle racing inflation

India raises rates for second straight month to tackle racing inflation

REUTERS 2022-06-08 12:45:31

The Reserve Bank of India's key interest rate was raised by 50 basis points on Wednesday as widely expected, the second hike in as many months, in a bid to cool persistently high inflation in Asia's...

IMF urges countries to avoid blanket subsidies as food, fuel prices soar

IMF urges countries to avoid blanket subsidies as food, fuel prices soar

-- 2022-06-07 23:05:50

The International Monetary Fund (IMF) said on Tuesday governments fighting soaring food and fuel prices should target aid to vulnerable citizens rather than issue across-the-board aid that risked addi...

Rouble weakens as Russia slightly eases capital controls

Rouble weakens as Russia slightly eases capital controls

-- 2022-06-07 22:28:57

The Russian rouble gave up gains to weaken on Tuesday, edging away from 61 to the dollar as the finance ministry slightly eased capital controls and investor focus turned to an expected central bank r...

World Bank slashes global growth forecast to 2.9pc

World Bank slashes global growth forecast to 2.9pc

-- 2022-06-07 20:31:15

The World Bank on Tuesday slashed its global growth forecast by 1.2 percentage points to 2.9 per cent for 2022, warning that Russia's invasion of Ukraine has compounded the damage from the COVID-19 pa...

After India’s wheat export ban, panicked traders step up rice purchases

After India’s wheat export ban, panicked traders step up rice purchases

-- 2022-06-06 16:22:36

India's surprise ban on wheat exports has prompted rice traders to increase purchases and place unusual orders for longer-dated deliveries, fearing the world's top rice exporter may restrict those shi...

Spain to grant more work visas to combat labour shortages

Spain to grant more work visas to combat labour shortages

-- 2022-06-04 08:58:49

Spain plans to relax work permit rules for foreigners, its social security and migration minister said on Friday, to address labour shortages in industries such as tourism and construction that threat...

Protracted war threatens hunger crisis around the world, UN warns

Protracted war threatens hunger crisis around the world, UN warns

-- 2022-06-03 19:19:49

United Nations officials have warned that a protracted war in Ukraine threatened a hunger crisis around the world. Marking 100 days since Russia invaded its neighbour, UN crisis coordinator Amin Awad...

Russia restricts export of key gases for production of chips

Russia restricts export of key gases for production of chips

-- 2022-06-03 15:59:51

Sanctions-hit Russia has limited exports of noble gases such as neon, a key ingredient for making chips, until the end of 2022 to strengthen its market position, its trade ministry said on Thursday....

Food prices dip in May, cereal output set to decline, UN agency says

Food prices dip in May, cereal output set to decline, UN agency says

-- 2022-06-03 15:30:43

World food prices dipped in May for a second consecutive month after hitting a record high in March, although the cost of cereals and meat both rose, the United Nations' food agency said on Friday....

Australia's new PM backs wage hike to ease inflation pain

Australia's new PM backs wage hike to ease inflation pain

-- 2022-06-03 13:10:56

Australia's new centre-left Labor government on Friday proposed raising the minimum wage to ease the financial burden on families hit by soaring energy prices and a spike in consumer price inflation....

Sri Lanka seeks $3.0b under IMF Extended Fund Facility

Sri Lanka seeks $3.0b under IMF Extended Fund Facility

-- 2022-06-01 19:34:21

Sri Lanka is in talks with the International Monetary Fund (IMF) to borrow at least $3 billion via the lender's extended fund facility (EEF), sources familiar with the matter told Reuters. The island...

Asia's factory activity slows in May as China Covid curbs weigh

Asia's factory activity slows in May as China Covid curbs weigh

REUTERS 2022-06-01 13:46:55

Asia's factory activity slowed in May as China's heavy-handed coronavirus curbs continued to disrupt supply chains and dampen demand, adding to woes for some countries in the region that are already s...

Sri Lanka hikes tax rates, slashes taxpayers’ relief to boost revenue

Sri Lanka hikes tax rates, slashes taxpayers’ relief to boost revenue

-- 2022-05-31 19:02:16

Sri Lanka's cash-strapped government on Tuesday announced a taxation overhaul to boost revenue amid the country's crippling economic crisis, hiking value-added taxes and corporate income tax, and slas...

China unveils detailed stimulus policies to support virus-hit economy

China unveils detailed stimulus policies to support virus-hit economy

-- 2022-05-31 13:57:07

China's cabinet unveiled a package of 33 measures covering fiscal, financial, investment and industrial policies on Tuesday to revive a pandemic-ravaged economy, saying it will inspect how provincial...

Indian home prices to accelerate again

Indian home prices to accelerate again

-- 2022-05-31 10:07:29

Indian house prices are set to accelerate this year to a pace not seen in half a decade, according to a Reuters poll of property analysts who also warned that higher interest rates will crimp affordab...

ADB stepped up support for Covid-19 response last year

ADB stepped up support for Covid-19 response last year

FE ONLINE DESK 2022-05-30 21:58:48

The Asian Development Bank’s private sector operations stepped up support for the region’s response to the Covid-19 last year, dedicating 78 per cent of $4.3 billion in the total project a...

WB to disburse $700m to Sri Lanka

WB to disburse $700m to Sri Lanka

-- 2022-05-30 19:46:45

The World Bank will disburse approximately USD 700 million to Sri Lanka within the next few months, Sri Lanka's foreign minister announced on Monday. This pledge was made when the World Bank's Countr...

Sri Lanka to pay $72.6m for 90,000 tonnes Russian oil, minister says

Sri Lanka to pay $72.6m for 90,000 tonnes Russian oil, minister says

-- 2022-05-29 10:46:27

Sri Lanka will pay $72.6 million to buy a 90,000-tonne shipment of Russian oil docked at Colombo's port for weeks, its energy minister said on Saturday, as the island nation works to restart its only...

Hong Kong seeks to revive global banking status

Hong Kong seeks to revive global banking status

-- 2022-05-27 11:29:01

Hong Kong's central bank plans to hold a major conference in November it hopes will draw global banking bosses, sources said, as the financial hub seeks to welcome back international business followin...

Musk sued by Twitter investors for stock 'manipulation'

Musk sued by Twitter investors for stock 'manipulation'

-- 2022-05-27 09:50:39

Billionaire Elon Musk was sued by Twitter Inc investors claiming he manipulated the company's stock price downward, as the chief executive of electric carmaker Tesla mounts a $44 billion takeover bid...