KEY POINTS Chinese e-commerce giant Alibaba on Thursday said revenue grew by 14% year on year in the quarter ended June 30. The company’s push into overseas markets bore results, with revenue from international commerce retail surging by 60% year […]
No place in the US has put inflation in the rearview mirror quite as fast as Minneapolis. In May, the Twin Cities became the first major metropolitan area to see annual inflation fall below the Federal Reserve’s target of 2%. […]
The Indian rupee strengthened on Monday helped by a decline in US yields, while traders looked for triggers that could take the currency out its current trading range. The rupee was at 22.54 to the UAE dirham by 9.10am UAE […]
Fitch cut the US’s credit rating Tuesday, citing rising debts and an “erosion of governance.” It came two months after Biden and House Republicans reached an 11th-hour deal to stop a default. Stocks declined after the agency’s shock announcement. August […]
China’s housing market is so tough that buyers have been heading to the US to purchase a home. Chinese buyers spent $13.6 billion on US residential real estate in the year ending March 2023. A shaky economy and lower confidence […]
Foxconn will invest more than $600 million in India as part of a phone manufacturing project and separately a semiconductor equipment facility, according to the government of the state of Karnataka. In a tweet on Wednesday, M B Patil, Karnataka’s minister of commerce […]
After hinting at stimulus measures last week, China rolled out a series of plans to boost local consumption to charge its flagging economy — but these may not be enough, say analysts. On Monday, the country released a plan targeting […]
Bank of America was the top M&A financial adviser in the Middle East and Africa during the first half of 2023, according to research from GlobalData. The US bank advised on two deals worth a combined $9.86 billion in H1. […]
TOKYO/WASHINGTON (Reuters) -Japan’s economy is expected to expand 1.4% in 2023, faster than a 1.0% rise last year, as the removal of pandemic curbs boosts consumption, the International Monetary Fund said on Tuesday, while warning that inflationary pressures were mounting. […]
RIYADH: Morocco’s water security is set to be strengthened after the World Bank agreed to finance a $350 million irrigation program. The fund will support a subset of activities in the North African country, which aims to conserve 25 million cubic […]
