Business & Economy

Washington, July 6 (AFP/APP): US central bankers last month flagged the concern that sky-high inflation could become persistent and reiterated their willingness to continue raising interest rates to tamp down price pressures, according to the minutes of the latest policy meeting released Wednesday. Officials were […]

ISLAMABAD, Jul 6 (APP): Prime Minister Muhammad Shehbaz Sharif Wednesday said that he had ordered an inquiry into criminal delay in Gwadar Breakwater project as the Pakistan Tehreek-i-Insaf’s government had ignored it despite availability of grants. On his Twitter handle, the prime minister said $445m […]

SEOUL, July 6 (Xinhua, APP): South Korean stocks fell to the lowest in about 20 months Wednesday on rising worry about global economic recessions, with the local currency hitting a 13-year low. The Korea Composite Stock Price Index (KOSPI) declined 49.77 points, or 2.13 percent, […]

NAIROBI, Jul 5 (XINHUA/APP):Kenya on Monday launched the Nairobi International Financial Center (NIFC) to help spur the inflow of foreign capital to fund the country’s development agenda. President Uhuru Kenyatta said in a speech read on his behalf by Joseph Kinyua, Head of Public Service […]

Tokyo, July 5 (AFP/APP): Tokyo stocks closed higher Tuesday, with exporters buoyed by a weaker yen, and investors watching speculation that Washington could roll back some tariffs on Chinese goods to battle inflation. The benchmark Nikkei 225 index gained 1.03 percent, or 269.66 points, to […]

Stockholm, July 5 (AFP/APP):Scandinavian airline SAS said Tuesday it has filed for so-called Chapter 11 bankruptcy proceedings in the United States, as a part of a restructuring plan, a day after pilots walked out on strike. In order “to proceed with the implementation of key […]

MANILA, Jul 5 (XINHUA/APP):The year-on-year inflation in the Philippines accelerated to 6.1 percent in June from 5.4 percent in May, mainly due to higher prices in food and non-alcohol beverages and transport, the Philippine Statistics Authority (PSA) said on Tuesday. PSA head Dennis Mapa said […]

SEOUL, Jul 5 (XINHUA/APP): South Korea’s imported car sale logged a double-digit fall last month due to continued supply chain disruptions, industry data showed Tuesday. The number of imported vehicles sold here was 22,695 in June, down 13.3 percent from a year earlier, according to […]

SYDNEY, Jul 5 (XINHUA/APP): Australia’s central bank has lifted interest rates by 0.50 basis points (BPS) on Tuesday, bringing the new rate to 1.35 percent as the country continues to battle rising inflation. The 0.50 percent increase marks the third consecutive month the Reserve Bank […]

BEIJING, Jul 5 (XINHUA/APP):China’s economy is expected to gradually overcome the negative impacts of the epidemic in the second half of this year, with economic indicators showing improvement amid a raft of supportive policies, according to a report by the Bank of China. Noting that […]