Indias factory activity grew at its weakest pace in seven months in March as renewed lockdowns to curtail a resurgence in COVID19 cases dampened domestic demand and output, a private survey showed, forcing firms to cut headcount again. Last week, the Indian government advised federal states to try and control the rapid spread of the […]

A group consisting of some of the worlds most powerful oil producers on Thursday will meet to decide on the next phase of output policy. OPEC and nonOPEC partners, a group sometimes referred to as OPEC , convened for talks via videoconference at around 125 p.m. London time. The OPEC alliance is currently cutting by […]

Chinas central bank warned on Thursday of financial risks in the country that have accumulated over the years, as well as shocks from overseas uncertainties. These risks include oscillation in the stock and fixed income markets and potential bond defaults in real estate companies, said Zou Lan, director of the Peoples Bank of Chinas financial […]

Egyptian authorities may seek over 1 billion in damages for helping to clear the Ever Given from the Suez Canal, as a dilemma emerges over who might foot the bill. We will reach over a billion dollars in compensation, Osama Rabie, the chairman and managing director of the stateowned Suez Canal Authority, told Egypts Sada […]

TOKYO, April 2 Reuters The amount of money circulating in Japan soared by a fifth to hit a record in March as central bank pumped out cash to cushion blows to the economy from the COVID19 pandemic. The average balance of monetary base, or the amount of cash in circulation and deposits at the BOJ, […]

President Joe Biden unveiled a more than 2 trillion infrastructure package on Wednesday as his administration shifts its focus to bolstering the postpandemic economy. The plan Biden outlined Wednesday includes roughly 2 trillion in spending over eight years and would raise the corporate tax rate to 28 to fund it. Speaking at a union hall […]

Asias factories stepped up production in March as a solid recovery in global demand helped manufacturers move past the setbacks of the pandemic, although rising costs are creating new challenges for businesses in the region. A series of upbeat factory surveys released on Thursday reinforce market optimism that vaccine rollouts, as well as strong growth […]

The dollar held near a multimonth high against other major currencies on Thursday as investors bet fiscal stimulus and aggressive vaccinations will help the United States grow faster than other economies. The dollars index against a basket of six major currencies stood at 93.239, close to a fivemonth high of 93.439 reached on Wednesday. The […]

OPEC has lowered its 2021 oil demand growth forecast by 300,000 barrels per day reflecting concerns about the markets recovery amid a wave of new coronavirus lockdowns, a report from its experts panel meeting seen by Reuters showed. The Joint Technical Committee, which advises the group of oilproducing nations that includes Saudi Arabia and Russia, […]

Hitachi Ltd said on Wednesday it will buy U.S. software company GlobalLogic Inc for 9.6 billion, as the Japanese industrial conglomerate aims to expand from electronics hardware to digital services. The acquisition is part of Hitachis ongoing business portfolio overhaul, which includes the 7 billion acquisition of ABB Ltds power grid business last year and […]