Sri Lanka has unveiled a new entity, the Automobile Industry Council (AIC), to guide the automobile industry into a new era of innovation, skill enhancement,...
Singapore Warns of Global Tightening Risk on Inflation Surprise
Singapore’s central bank chief has warned of the risk of global monetary tightening amid rising inflation pressures, as the city-state reported a higher-than-expected inflation rate...
The US consumer is facing a spending crunch, strategist warns
The US consumer, who has been the main driver of the economic recovery from the pandemic, is facing a looming spending crunch, according to a...
European markets close lower amid earnings and inflation worries
European stock markets closed lower on Monday as investors digested a mixed batch of corporate earnings and inflation data. The pan-European Stoxx 600 index ended...
BOJ urged to speed up exit from yield curve control amid inflation and currency pressures
The Bank of Japan (BOJ) is facing growing calls to accelerate its exit from its yield curve control (YCC) policy, which has been suppressing long-term...
Moody’s Forecasts a Surge in Israel’s Inflation to 6.8%
Israel is currently facing a significant economic challenge as inflation rates are expected to climb to 6.8%. This forecast, made by the renowned credit rating...
UK households lose £2.2 trillion in wealth due to higher interest rates
The Bank of England has raised its base rate from 0.1% to 0.75% in October 2023, the highest level since 2009, in an attempt to...
Electric Car Market Faces a Crash Due to Diverging Trends
The global electric car market is heading for a crash as different regions show contrasting levels of adoption and investment, according to a Bloomberg Opinion...
Toyota Unveils Next-Generation Lexus EV Prototype at Japan Mobility Show
Toyota Motor Corp. on Wednesday unveiled a prototype of its LF-ZC electric car at a Japan Mobility Show press preview; the firm plans to market...
Saudi Arabia’s first green hydrogen plant to start production in 2025
Saudi Arabia is set to become a global leader in green hydrogen production, as it plans to start operating its first plant in 2025. The...
Kering’s Luxury Brands Suffer From Slowing Demand in Q3 2023
Kering, the French luxury group that owns brands such as Gucci, Yves Saint Laurent, and Bottega Veneta, reported a 9% drop in sales in the...
China probes Foxconn over tax and land issues, warns Taiwan firms to be responsible
China has launched an investigation into tech giant Foxconn, a Taiwanese firm that is one of the world’s largest contract producers of electronics and a...
Gas tariff hike delayed by four months, causing Rs78 billion loss to the system
The government’s indecision on increasing the natural gas tariff has resulted in a huge loss of Rs78 billion to the gas system, according to senior...
Pound rises despite weak UK data as euro zone outlook worsens
The pound gained some ground against the euro on Tuesday, shrugging off disappointing UK labour market and business activity data, as a survey showed the...
Nigeria Plans to Borrow $11.98 Billion for 2024 Budget
Nigeria, the largest economy in Africa, is facing a huge budget deficit as it struggles to cope with the impact of the Covid-19 pandemic, low...
Xi Jinping’s Rare Visit to Central Bank Signals Focus on Economy
Chinese President Xi Jinping made an unprecedented visit to the nation’s central bank and foreign exchange regulator on Tuesday, according to people familiar with the...