Profits at China’s industrial firms shrank at a slower pace in May following a big slump in April. 19 curbs still weighed on factory production and squeezed factory margins. Industrial profits fell 6.5% from a year earlier, less than 8.5%, according to official figures. Industrial output in the commercial hub of Shanghai fell for a … Read more
The rouble soared 1.2% to 55.75 against the dollar earlier touching 55.44, its strongest mark since July 2015. It gained 0.6% to 58.49 against the euro, edging closer to its strongest level in nearly five years. The Russian rouble flooded on Monday to a close to a seven-year high against the dollar on Moscow Exchange, … Read more
Inflation at its highest level in 40 years has made hawks of nearly all Fed policymakers. It will take two years for inflation to fall to the central bank’s 2% target, a Cleveland Fed official said on Thursday. Mester said she was not predicting a recession despite slowing growth. Cleveland Federal Reserve Bank President Loretta … Read more
Executives insist fossil fuels, especially natural gas, are still needed at a time when global markets grapple with tight energy supplies and skyrocketing prices. Governments worldwide have shifted their focus from sustainability and the energy transition to concerns about a global supply crunch and demands for more oil and gas. Energy organization leaders at a … Read more
Fed policymakers had already all but promised half-point interest rate hikes at their meeting next week and again in late July. That would be more policy tightening in the space of three months than the Fed did in all of 2018. The central bank could even ditch its own forward guidance. Tenaciously hot U.S. expansion … Read more
US job gains slowed in May, and rapid wage increases slowed as well. “American employers added 390,000 jobs last month, Labor Department reported. The government data showed the participation rate edged up very slightly to 62.3 %. US job gains slowed in May, and rapid wage increases slowed as well, a welcome sign for US … Read more
The European Central Bank will in all likelihood draw a line below the era of poor hobby prices by using September, its president Christine Lagarde stated Monday because the eurozone confronted hovering inflation. The ECB is “probable to be in a position to exit terrible interest fees through the end of the third region”, Lagarde wrote … Read more
Negative interest fees will soon be an issue of the past within the eurozone, the ECB’s leader signaled Monday, with the bank poised to elevate costs for the primary time in over a decade to tamp down soaring inflation. The Frankfurt-based group became “possibly to be in a function to exit negative interest prices by … Read more
US households had been within the quality monetary role in almost a decade ultimate year — before the Omicron variation of Covid-19 hit, the Federal Reserve stated Monday. Despite issues about the overall monetary state of affairs, more Americans felt comfortable with their budget and have been capable of coping with unexpected prices, in keeping … Read more
WASHINGTON: Fitch Ratings on Friday downgraded Turkey’s debt from BB- to B+ with a negative outlook, citing high inflation and a lack of confidence in policymakers to turn the tide. The downgrade comes after data released earlier in the month showed inflation hitting a two-decade record of nearly 50 per cent in January, though some … Read more
Over the past couple of decades, central banks in emerging markets have made substantial progress in developing the credibility to conduct countercyclical monetary policy. During the Covid crisis, many of these central banks not only cut interest rates sharply, but also deployed a range of tools to help restore market functioning, including asset purchases. And, … Read more
ISTANBUL: The Turkish lira on Thursday hit fresh lows after the central bank fired the latest salvo in President Recep Tayyip Erdogan’s “economic war of independence” by cutting interest rates for the fourth successive month. The reduction of the main rate to 14 per cent from 15 per cent comes in face of an annual inflation … Read more
HONG KONG: The Asian and European markets rose on Thursday and the dollar held gains after the Federal Reserve laid out a more hawkish path by speeding up the taper of its pandemic financial support and indicated a number of interest rate hikes over the coming years. While the much-anticipated decision spells an end to the … Read more
KARACHI: The Hyderabad Chamber of Small Traders and Small Industry (HCSTSCI) president Saleemuddin Qureshi has urged Prime Minister Imran Khan, National Command and Operation Centre (NCOC) chief Asad Umar and Sindh Chief Minister Syed Murad Ali Shah to extend the business hours, as the existing timings are creating problems for the small traders. The policymakers … Read more
BEIJING: Chinese, Pakistani and Turkish researchers have stressed on climate-smart agriculture, as the world is struggling to maintain and increase agriculture production against the backdrop of the growing climate-related challenges. In a milestone move, these researchers on Saturday published two English monographs on climate-smart agriculture. The publications, “Sustainable Soil and Land Management and Climate Change” … Read more
