Economy
World / Countries / MNCs
Beijing: China's economic indicators are not looking very positive as the country is badly hit by COVID-19 imposed lockdowns which is affecting both businesses and consumers. more
SGR loans default: China fines Kenya Sh1.31bn

Nairobi/Beijing: Kenya defaulted on repayment of the Chinese loans, forcing Chinese banks to fine Sh1.312 billion in the year ended June for loan defaults.

Japanese Yen touches 32-year low

Tokyo: The Japanese yen touched a 32-year low against the US dollar after official figures showed that prices had risen faster that expected in America.

UK: Recession risk rises as economy shrinks in August

London: Recession fear looms large over the UK as the country's economy shrank in August, media reports said.

UN Development Programme calls for debt relief now for 54 countries

New York: Fifty-four countries that are home to more than half of the poorest people on the planet need urgent debt relief now, the UN Development Programme (UNDP) said in a paper publish ...

WTO anticipates sharp slowdown in world trade growth in 2023

New York: Trade growth is expected to lose momentum in the second half of this year and remain subdued in 2023, as the global economy sustains multiple shocks, such as ripple effects from ...

Ten years of Afghan economic growth, reversed in just 12 months: UNDP

New  York: A year on from the Taliban takeover in Kabul, Afghanistan is gripped by “cascading crises”, including a crippled economy that humanitarian aid alone cannot add ...

Japan’s Daikin to dump China for AC parts: Reports

Tokyo: Japanese electronics major Daikin industries is planning to dump China as it has failed to supply parts for manufacturing of Air conditioners, media reports said on Tuesday.

Policy mistakes could trigger worse recession than 2007 crisis: UNCTAD

New York: The world is headed towards a global recession and prolonged stagnation unless fiscal and monetary policies holding sway in some advanced economies are quickly changed, accordin ...

Myanmar courts Russia, but raises tensions with Bangladesh

Naypyidaw: Myanmar may be another nation wanting to de-dollarise its economy.