India's top economic advisor, V. Anantha Nageswaran, expressed optimism on Wednesday, stating the government sees no imminent threat of rising inflation and expects the economy to grow above 7 per cent in the current FY, Reuters reported.
Nageswaran (...)
Investment bank Morgan Stanley pushed back its forecast for US Federal Reserve rate cuts to September from their previous July prediction, as reported by Reuters on Wednesday.
The brokerage maintains its expectation of three 25-basis-point rate cuts (...)
Thailand's economic growth forecast dips to 2.2-2.7 per cent this year due to slow export recovery, down from a previous forecast of 2.8-3.3 per cent, Reuters reported on Wednesday, citing a leading business group.
The Joint Standing Committee on (...)
Asian stocks closed with mixed results on Wednesday as investors grappled with conflicting signals from US policymakers and economic data regarding the Federal Reserve's interest rate plans, Reuters reported.
Meanwhile, the dollar strengthened (...)
Gold prices inched higher in Asian trade on Wednesday, but gains were limited as recent comments from Federal Reserve officials dampened hopes for interest rate cuts, as reported by Investing.com financial platform.
While the yellow metal benefitted (...)
German industrial production dipped 0.4 per cent in March compared to February, down from analyst expectations of 0.6 per cent decline, Reuters reported on Wednesday, citing data from the federal statistics office.
Despite being a smaller decline (...)
China's hydropower generation experienced a significant setback in the first quarter of 2024, reaching its lowest share of total electricity output in at least eight years, according to data from think tank Ember, reported by Reuters on (...)
Egypt's local gold prices remained relatively flat during midday trade on Wednesday, hovering around the average prices recorded on the day before May 7th, according to an electronic gold price platform.
Metal May 8th (EGP) May 7th (EGP) Change (...)
Chinese iPhone shipments surged by 12 per cent in March, indicating that Apple's efforts to revive its struggling Chinese market are bearing fruit, Reuters reported on Wednesday, citing official data.
This significant jump follows a concerning 37 (...)
The Bank of Japan (BOJ) governor Kazuo Ueda hinted at a potential shift in monetary policy on Wednesday, suggesting interest rate hikes could be on the table if the weakening yen continues to push up prices, Reuters reported.
Ueda's comments, (...)
The head of Saudi Arabia's new $100 billion tech investment fund, Alat, signaled a willingness to divest China if pressured by the US, said CEO of Alat Amit Midha in a Bloomberg interview on Wednesday.
This statement comes amidst ongoing talks (...)
US President Joe Biden is set to visit the political battleground state of Wisconsin on Wednesday, where he will announce Microsoft Corp's plans to build a $3.3 billion major high-tech data centre, as reported by Reuters.
The project details
* (...)
The US dollar rebounded on Wednesday, extending gains after earlier losses triggered by renewed bets on Federal Reserve rate cuts this year, Reuters reported.
The yen, however, continued its decline, exceeding the 155 per dollar mark and raising the (...)
Saudi Arabian staffing company SMASCO announced plans for an initial public offering (IPO) on the Riyadh Stock Exchange, aiming to raise up to 900 million riyals ($239.99 million), Reuters reported on Wednesday.
The company has set an indicative (...)
Taiwan's exports rose for a sixth straight month in April, reaching $37.5 billion, the 4.3 per cent year-on-year growth fell short of expectations of 10.2 per cent, due to a slump in Chinese demand as reported by Reuters on Wednesday.
This muted (...)
Egypt's net foreign exchange reserves rose to $41,057 billion by the end of April, compared to $40.361 billion in March, according to a recent data published by the Central Bank of Egypt (CBE).
This represents a $696 million increase, or a monthly (...)
Egypt's gold reserves, a major component of international reserves, surged to $9.384 billion at the end of April up from $9.003 billion at the end of March, central bank data showed on Tuesday.
The foreign currencies' value included in the cash (...)
Saudi Arabia's state-owned oil giant Aramco reported on Tuesday a 14.4 per cent decline in net income for the first quarter of 2024, due to reduced sales of crude oil, weaker margins in refining and chemicals, and lower finance and other income.
The (...)
Japan's service sector surged in April, marking the fastest growth in eight months, fuelled by robust business and consumer spending, according to a private survey released on Tuesday.
This strong performance strengthens expectations that the Bank (...)
The Central Bank of Egypt (CBE) on Tuesday issued a total of 100 billion Egyptian pounds in four treasury bills auctions, according to a CBE statement on its website.
This auction offers investors four options for investing in government debt with (...)
Amazon.com is ramping up its presence in Southeast Asia, announcing a $12 billion ($8.88 billion) investment over four years to expand its cloud computing infrastructure in Singapore, Reuters reported on Tuesday.
This latest move, unveiled at the (...)
Asian stocks surged to a 15-month high on Tuesday, fuelled by renewed optimism about interest rate cuts in the United States, as reported by Reuters.
This positive sentiment comes after softer-than-expected US jobs data and comments from Federal (...)
Gold prices slipped slightly in Asian trading on Tuesday, as the US dollar recovered and investors awaited further signals on interest rates from the Federal Reserve, as reported by Investing.com financial platform.
The yellow metal had gained some (...)
China's five largest lenders, designated as global systemically important (G-SIBs), must raise nearly $900 billion in special debt by 2028 to comply with international standards for absorbing losses in a crisis, Reuters reported on Tuesday.
Under (...)
Chinese electric vehicle (EV) maker Zeekr is accelerating its New York initial public offering (IPO) timeline, with bookbuilding closing a day earlier than planned on Wednesday, aiming to raise more than $367.5 million, Reuters reported on (...)