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 currencyRead More →
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 keyRead More →
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 ofRead More →
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 aRead More →
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- weakenedRead More →
Wheat prices have risen on international markets following India’s announcement of a restriction on exports of the basic commodity, as well as lower production prospects in Ukraine following Russia’s invasion, according to the UN food agency. In May 2022, the Food and Agriculture Organization’s (FAO) Price Index averaged 157.4 points,Read More →
According to an industry analysis released on Tuesday, India and Southeast Asia would worsen their emission profile as crude steel production develops through the Blast Furnace (BF) and Basic Oxygen Furnace (BOF) routes. India has set a goal of producing 300 million tonnes by 2030-31 when local demand is likelyRead More →
Egypt, one of the world’s largest wheat importers, is seeking alternatives to Black Sea grain shipments, which are being disrupted by Russia’s invasion of Ukraine, two of Egypt’s key wheat suppliers. “We have agreed to acquire half a million tonnes from India,” Moselhy said during a press briefing onRead More →
The Union finance ministry announced on Wednesday that the States owed Rs 78,704 crore in compensation in lieu of goods and services tax (GST) for the financial year 2021-22 (FY22), which is equivalent to four months’ compensation. It also said that all dues for FY21 had been paid. It hasRead More →
Noting that reporting energy payments by India is not sanctioned, the White House said New Delhi’s imports of Russian energy represent only one to two percent of its total energy imports. The White House also reiterated that it is not in India’s interest to increase its import of energy fromRead More →