Asia FX Edges Higher, Korean Won Surges Even As BOK Holds
Most Asian currencies rose on Thursday, recovering a measure of recent losses as the dollar saw some profit taking, with the won appreciating sharply even as the Bank of Korea held interest rates after 18 months of hikes. The South Korean won rose 0.6% and was the best-performing Asian currency for the day, even as […]
Taiwan Exports Seen Contracting For Fifth Straight Month in January: Reuters Poll
Taiwan’s exports in January likely fell for the fifth month in a row amid fears of a global recession, uncertainties due to the war in Ukraine, and the COVID situation in China impacting tech demand, according to a Reuters poll. Taiwan, a global hub for chip production and a key supplier to Apple Inc (NASDAQ:AAPL), […]
China Q4 GDP Slows on COVID Woes, But Beats Expectations
The Chinese economy grew at a slower pace in the fourth quarter of 2022, data showed on Tuesday, as disruptions caused by the country’s now relaxed zero-COVID policy weighed heavily on business activity, although the reading still beat expectations. Chinese gross domestic product (GPD) grew at an annualized rate of 2.9% in the three months […]
Dollar Weakens in Wake of CPI Release; Yen Climbs Ahead Of BOJ
The U.S. dollar edged lower in early European trade Friday, continuing the previous session’s selloff after cooling U.S. inflation opened the way for the Federal Reserve to ease the pace of its interest rate hikes. At 03:05 ET (08:05 GMT), the US Dollar Index, which tracks the greenback against a basket of six other currencies, […]
Oil rally Stalls on Weak Chinese Data, Uncertainty Over OPEC Cut
Oil prices were muted on Thursday, cutting short a three-day rally after data highlighted growing economic cracks in major crude importer China, while markets also speculated over whether the OPEC’s last meeting for the year will result in a supply cut. Chinese manufacturing activity- a bellwether for the economy- weakened substantially in November, official and […]
According to CII president Sanjiv Bajaj, India’s GDP may expand 7.4-8.2% in FY23
According to Sanjiv Bajaj, the incoming president of the Confederation of Indian Industries and chairman of Bajaj Finserv, India’s FY23 gross domestic product is predicted to expand between 7.4 and 8.2% under three scenarios of world crude oil prices. Bajaj also stated during a press conference that the government needs to significantly expand its spending […]
For nearly a year, Indian Railways failed to meet Coal India train provisioning targets
Coal is supplied by Indian Railways. According to government data, India has been falling short of its monthly coal transportation targets for more than a year, underscoring the reasons behind India’s greatest power crisis in over six years. To meet record-high power demand, Indian utilities are rushing for coal supplies, but the failure of Indian […]
PM Modi chairs a meeting to examine the state of wheat supplies, inventories, and exports
Prime Minister Narendra Modi chaired a meeting on Thursday to review various aspects of wheat supply, stock, and exports, and directed officials to take all necessary steps to ensure quality norms and standards so that India can evolve into a reliable source of food grain and other agricultural products. The critical meeting took place just […]
World Bank lowers Pakistan’s economic growth forecast to 4.3%
Citing the additional burden on the budget put by the last-ditch energy subsidies by the outgoing Imran Khan government, the World Bank on Wednesday reduced Pakistan’s economic growth rate forecast for the current fiscal year by almost one percent, reported local media. “The financing of the price cuts or subsidies can create an additional burden on […]
Petrol crosses Rs 100 in Delhi after 80 paise hike, diesel up 70 paise
Petrol price on Tuesday crossed Rs 100 a litre mark after rates were hiked by 80 paise a litre and 70 paise in case of diesel, taking the total increase in rates in one week to Rs 4.80 per litre. Petrol in Delhi will now cost Rs 100.21 per litre as against Rs 99.41 previously […]