ECB policymakers make the case for a big rate hike
European Central Bank policymakers made the case on Saturday for a large interest rate hike next month as inflation remains uncomfortably high and the public may be losing trust in ...
Gulf stocks fall on tight monetary policy outlook
Major Gulf stock markets ended lower on Sunday as investors in the region reacted to comments by Federal Reserve Chair Jerome Powell signalling the US economy would need tight monetary ...
Dell ceases all Russian operations after August offices closure
Dell Technologies Inc. said on Saturday it had ceased all Russian operations after closing its offices in mid-August, the latest in a growing list of Western firms to exit Russia.
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Japan’s Suzuki drives deeper into India with global R&D unit
Suzuki Motor Corp (7269.T) will set up a global research and development company in India, its president said on Sunday, pushing deeper into a market that is set to become ...
European computer segment affected by supply chain disruption
Computer shipments experienced a decline for the second quarter in a row at the end of the first half of the year, hindered by issues on both the demand and ...
Asset managers to offer fund tokens despite crypto turmoil
Investors in crypto have endured wild moves in recent months, but this has not fazed asset managers who are preparing to use the blockchain technology behind cryptocurrencies to break funds ...
Automakers accelerate drive to secure battery raw materials
Rising demand for electric vehicles (EV) around the world is encouraging automakers such as Tesla Inc (TSLA.O), Volkswagen (VOWG_p.DE) and Stellantis NV (STLA.MI) to step up ...
Jack Dorsey’s Block ends Afterpay smartphone tie-up with Australia’s Westpac
Afterpay, the Australian payments firm bought by Jack Dorsey’s Block Inc (SQ.N), and Australia’s Westpac Banking Corp (WBC.AX) ended a partnership after the firm cancelled a ...
Businesses moving to the cloud must have a strategy in place
The pandemic brought to light a great deal of financial, economic and operational weakness across the world.
This prompted organisations across all industries to double down on business reliance planning, ...
A new era of monetary policy is just beginning
By Ioannis Tirkides
The current time and the next period for a number of years at least, will be more treacherous for monetary policy. This is because the era of ...
Cannabis fintech Bespoke to expand BNPL base in cash-starved industry
Fintech firm Bespoke Financial is looking to expand its ‘buy now pay later’ service for cannabis businesses in California and Massachusetts later this year, its Chief Executive George Mancheril said ...
Thai lender SCBX scraps $500 mln acquisition of crypto exchange Bitkub
Thailand’s oldest lender, SCBX Pcl (SCB.BK), said on Thursday it was pulling out of a $500 million deal to buy crypto exchange Bitkub, saying the start-up needed time to ...
Currency tops list of challenges for Egypt’s new central bank governor
Egypt’s new central bank governor, Hassan Abdalla, faces a daunting task as he tries to repair an economy derailed by an overvalued currency, rampant inflation and a banking system ...
Oil prices rise on signs of improving demand, gain 3 per cent on week
Oil prices rose as much as $1 on Friday on signs of improving fuel demand, although further gains were capped as the market awaited clues from the US Federal Reserve chairman ...
Cash-rich Germany criticised by watchdog over money laundering
Germany has been criticised by a global watchdog for failing to do enough to tackle money laundering, such as by prosecuting very few for the crime despite being one of ...
Fertiliser makers cut output as gas prices surge
Norway’s Yara (YAR.OL), one of the world’s largest fertiliser makers, is cutting ammonia production in Europe further because of the surge in gas prices, following other manufacturers.
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Abercrombie cuts sales forecast as Hollister falls out of fashion
Abercrombie & Fitch Co on Thursday cut its full-year sales and margin forecasts after reporting a surprise quarterly loss, underscoring increasing competition for consumer dollars amid surging inflation.
Shares of ...
ECB accounts show inflation concerns intensifying
European Central Bank policymakers meeting last month appeared increasingly concerned that high inflation was getting entrenched, even as the risk of a recession loomed in the bloc, the accounts of ...
US consumers borrow at record levels as car prices surge
US consumers are responding to surging prices for new cars and trucks by going deeper into debt, pushing the average new vehicle loan to a record-high $40,290 during the second quarter, ...
Saudi Arabia to invest $1 billion in Pakistan – Saudi state TV
Saudi Arabia plans to invest $1 billion in Pakistan, Saudi state TV reported on Thursday.
Saudi King Salman bin Abdulaziz had given the directive for the kingdom to support the Pakistani ...
Europe’s Wizz Air considering a Saudi operating license
European budget carrier Wizz Air (WIZZ.L) is considering basing an airline in Saudi Arabia as part an agreement signed with the government this year to develop the kingdom’s ...
Oil prices rise on potential OPEC+ supply cuts; BP shuts US refinery units
Oil prices rose on Thursday on mounting supply tightness concerns amid disruptions to Russian exports, the potential for major producers to cut output, and the partial shutdown of a US ...
Greece’s Aegean Airlines in code sharing deal with Emirates
Greece’s largest carrier Aegean Airlines (AGNr.AT) said on Wednesday it had struck a so-called code sharing agreement with Emirates, allowing both companies to offer more destinations to their ...
In isolated Russia, a tale of two economies
Russia’s record employment signals a surprisingly smooth decoupling from the West. Its rapid replacement of McDonald’s and Starbucks says business as usual. Yet pressures are building inside its ...