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 […]
Economy
Taiwan Exports Seen Contracting For Fifth Straight Month in January: Reuters Poll
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 […]
China Q4 GDP Slows on COVID Woes, But Beats Expectations
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 […]
Dollar Weakens in Wake of CPI Release; Yen Climbs Ahead Of BOJ
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 […]
Oil rally Stalls on Weak Chinese Data, Uncertainty Over OPEC Cut
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 […]
Foreign investors snap up Indian bonds set for inclusion in global indexes
Foreign investors have stepped up purchases in a clutch of Indian government bonds that have no limits on foreign investments ahead of an anticipated inclusion of Indian debt in global bond indexes, analysts said. The central bank removed foreign investment caps for a number of securities under the ‘fully accessible route’ in […]
Petrol crosses Rs 100 in Delhi after 80 paise hike, diesel up 70 paise
Petrol price on Tuesday crossed Rs 100 a litre mark after rates were hiked by 80 paise a litre and 70 paise in case of diesel, taking the total increase in rates in one week to Rs 4.80 per litre. Petrol in Delhi will now cost Rs 100.21 per litre […]
Power consumption grows 2.6% in January
India’s power consumption grew marginally at 2.6 per cent year-on-year in January to 112.67 billion units (BU), showing the impact of local restrictions imposed by states amid the third wave of COVID-19. Power consumption in the entire January last year was 109.76 BU, which was 4.4 per cent higher than […]
UAE opens up economy, allows 100% foreign ownership of firms
By Administrator _India Capital Sands Foreigners opening a company in the United Arab Emirates no longer need an Emirati shareholder or agent under changes to UAE company law, state news agency WAM reported on Monday. Until now, companies in the UAE had needed a certain shareholding to be held by Emirati nationals, or an […]