Turkey caught in a spiral of lira crises
Turkey’s lira has lost nearly a quarter of its value this year as soaring inflation and the central bank’s reluctance to raise interest rates stoke fears of another ...
Singapore trading platform recognises crypto assets of accredited investors
Singapore-based private securities platform ADDX said it has become the first financial firm in the city-state to recognise cryptocurrency in their assessment of assets of high-net worth clients.
The move ...
Russia adds $9.5 bln to emergency reserve fund
The Russian government added 551.4 billion roubles ($9.5 billion) to its emergency reserve fund on Thursday as the Kremlin steps up its stimulus package in a bid to protect the economy from ...
ECB signals a string of interest rate hikes starting in July
The European Central Bank ended a long-running stimulus scheme on Thursday and signalled a series of rate hikes that may be scaled up from September if the inflation outlook fails ...
Golden Arches make way for hamburger and fries after McDonald’s Russian exit
A hamburger and two potato fries will feature on the new logo at former McDonald’s restaurants in Russia, the local company said, as it unveiled an advertising campaign ahead ...
Intel freezes hiring in PC chip division for at least two weeks
Intel Corp (INTC.O) has frozen hiring in the division responsible for PC desktop and laptop chips, according to a memo reviewed by Reuters, as part of a series of ...
Euro edges up, yen languishes as all eyes on ECB meeting
The yen dropped to a new 20-year low versus the dollar on Thursday, and the euro inched higher ahead of a highly-anticipated meeting of the European Central Bank, which should ...
Morning Bid: Hey ECB, how high will you go?
There’s little doubt the European Central Bank will on Thursday confirm it will pull the plug on years of stimulus and is getting ready to hike interest rates for ...
Rising risk of more capital controls in Turkey – S&P Global
There is a rising risk that Turkey brings in additional capital controls if the pressure on its currency and financial markets continues to intensify, credit rating firm S&P ...
Half of young Cypriots buy fake goods
Approximately half of young Cypriots purchase fake products or access pirated digital content, according to a report by the European Union Intellectual Property Office (EUIPO) released on Wednesday.
The 2022 edition ...
Russia’s Aeroflot plans $3 billion cash injection, said to eye big jet order
Under heavy pressure from Western sanctions and airspace bans, Russian state flagship airline Aeroflot (AFLT.MM) plans to raise up to 185.2 billion roubles ($3 billion) in an emergency share issue, it ...
US senators unveil bill to regulate cryptocurrency
A bipartisan pair of US senators unveiled a bill on Tuesday that would establish new rules for cryptocurrency, and hand the bulk of their oversight to the Commodity Futures Trading ...
Zara-owner Inditex’s quarterly profit jumps 80 per cent on post-COVID wardrobe renewal
Fashion giant Zara’s owner Inditex (ITX.MC) reported on Wednesday its quarterly profit jumped 80 per cent on the back of soaring sales as consumers stuck at home during the ...
Qatar picks Exxon, Total, Shell, Conoco for mega-LNG expansion
Qatar has picked Exxon Mobil Corp , TotalEnergies SE (TTEF.PA), Royal Dutch Shell (SHEL.L) and ConocoPhillips (COP.N) as partners in the expansion of the world’s largest liquefied ...
Russia hikes oil exports from major Eastern port to help offset EU ban
Russia is ramping up oil exports from its major eastern port of Kozmino by about a fifth, aiming to meet surging demand from Asian buyers and offset the impact of ...
Turkey’s lira slides against dollar, down 23 per cent so far this year
The Turkish lira dropped 2 per cent against the dollar on Wednesday, bringing its losses to 23 per cent this year, after worries about a surge in inflation were fuelled by President ...
Shipping industry calls EU fuel proposal ‘unambitious’
Major stakeholders from the European shipping industry have voiced their opposition to the European Union’s recent proposal on the use and regulation of maritime fuel.
“The European Community Shipowners’ ...
NY bill aims to limit crypto miners using fossil fuel-generated power
The New York State Legislature has passed a bill that would impose a two-year moratorium on the use of fossil-fuel power plants to provide energy to miners of cryptocurrencies like ...
Britain makes crypto technology a priority for streamlining markets
Britain will begin live testing of crypto blockchain technology for traditional market activities such as trading and settlement of stocks and bonds next year as part of a drive to ...
Cryptoverse: The early birds betting bitcoin’s bottoming out
As the crypto winter creeps into June, the first signs of a thaw are emerging.
Some investors are now betting that bitcoin is bottoming out, judging by the money heading ...
EU agrees single mobile charging port in blow to Apple
Apple (AAPL.O) will have to change the connector on iPhones sold in Europe by 2024 after EU countries and lawmakers agreed on Tuesday to a single mobile charging port for ...
Israel-Lebanon sea boundary row obstructs energy development
A dispute between Israel and Lebanon over their maritime boundary has obstructed energy exploration in the eastern Mediterranean and risks exacerbating tensions between the two foes.
After months of deadlock ...
Oil prices inch higher on relaxed China COVID curbs, tight supplies
Oil prices edged higher on Tuesday on an expected demand recovery in China as the world’s second-biggest economy relaxes tough COVID-19 curbs, and on doubts that a higher output ...
Erdogan promises more rate cuts, plays down inflation in Turkey
Turkey will continue cutting interest rates rather than hiking them in the face of high living costs, President Tayyip Erdogan said on Monday, playing down inflation of more than 70 per ...