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Global Economy
India cuts import taxes on vegetable oils to calm prices
India has cut base import taxes on palm oil, soyoil and sunflower oil, according to a government notification, as the world’s biggest vegetable oil buyer tries to cool near-record price rises.
13 September 2021, 18:00 PM
Domestic tourism boom gives UK seaside new lease of life
Children clutching glow sticks shrieked with delight and onlookers gazed awestruck as Blackpool’s Illuminations lights festival launched to a spectacular volley of fireworks from its 158-metre Victorian tower.
12 September 2021, 18:00 PM
Green investments to be part of EU budget rules review
The possibility of exempting “green” investments from EU deficit calculations will form part of discussions when EU budget rules are revised, European Commission Vice President Valdis Dombrovskis said on Saturday.
12 September 2021, 18:00 PM
Investors eye wobbling energy sector as gauge for Delta fears
Energy stocks are becoming a popular bellwether for concerns over how deeply the Delta variant of the coronavirus is expected to impact the US economy, as the so-called reopening trade that boosted some parts of the market earlier this year continues to stumble.
12 September 2021, 18:00 PM
Norway’s wealth fund, a jumbo piggy bank to be used prudently
Norway, which holds legislative elections on Monday, has the world’s largest sovereign wealth fund, a piggy bank of more than $1.4 trillion.
12 September 2021, 18:00 PM
10pc of UAE private sector workers should be Emiratis in five years
Private sector companies in the UAE will have to fill 10 per cent of their positions with Emirati nationals in five years time, the UAE said on Sunday in its latest tranche of economic reforms.
12 September 2021, 18:00 PM
Small US employers frustrated by Covid vaccine mandate
Small employers like Bob Roth on Friday voiced frustration with US President Joe Biden’s mandate that workers either get vaccinated or tested regularly to combat the spread of the coronavirus.
12 September 2021, 18:00 PM
Greece to boost its 2021 growth estimate: PM
Greece will revise its 2021 economic growth estimate to 5.9 per cent from 3.6 percent earlier, after an unexpectedly positive second quarter, the prime minister said Saturday.
12 September 2021, 18:00 PM
US lifts ban on Malaysian glove maker
The United States on Friday allowed imports from Malaysia’s Top Glove Corp, after customs authorities lifted a year-long ban imposed for alleged forced labour found at the world’s largest medical glove maker.
12 September 2021, 18:00 PM
US calls on G7 to quickly implement global tax reform
US Treasury Secretary Janet Yellen on Thursday urged countries in the G7 group of richest nations to quickly implement a global tax reform aimed at curbing tax avoidance.
11 September 2021, 18:00 PM
Kenya suffers huge job losses
Kenya’s economy shrank for the first time in three decades last year as the country was battered by the coronavirus pandemic, and almost 740,000 people were thrown out of work, a new government survey said.
11 September 2021, 18:00 PM
Canada’s job market closer to pre-Covid levels
A third consecutive month of job gains pushed Canada’s unemployment rate down 0.4 percentage points in August to 7.1 per cent -- its lowest level since the onset of the pandemic, the national statistics agency said Friday.
11 September 2021, 18:00 PM
US wholesale prices see record increase in August
US producer prices posted another record increase in August, according to government data released Friday, as the world’s largest economy grapples with high material costs amid its recovery from the Covid-19 crisis.
11 September 2021, 18:00 PM
US Treasury, financial industry discuss cryptocurrency ‘stablecoins’
The US Treasury Department met with a number of industry participants this week to quiz them about the risks and benefits posed by stablecoins -- a rapidly growing type of cryptocurrencies, the value of which is pegged to traditional currencies, according to three people with direct knowledge of the meetings.
11 September 2021, 18:00 PM
Apple takes app payment hit in Epic court fight
A US judge on Friday ordered Apple to loosen control over its App Store payment system, a blow to the global tech giant sparked by its anti-trust battle with Fortnite maker Epic Games.
11 September 2021, 18:00 PM
Former Afghan central bank chief warns of economic collapse
With the Taliban in control and foreign aid blocked, Afghanistan’s economy is likely to contract sharply as it faces a shortage of cash, the nation’s former central bank chief said Friday.
11 September 2021, 18:00 PM
EU budget battle looms, as economy lifts out of crisis
European governments have spent hand over fist, despite ballooning public debt, to prevent the coronavirus pandemic from triggering economic calamity.
11 September 2021, 18:00 PM
Cybersecurity seen as rising risk for airlines
After remaking their security procedures following the 9/11 attacks to stop airline hijackings, carriers are now faced with rising threats targeting computers and electronic equipment critical to their operations and safety.
11 September 2021, 18:00 PM
Afghanistan remittance payouts limited to local currency -sources
Afghanistan's central bank has ordered banks to pay out remittances in local currency only, the latest move to preserve scarce U.S. dollars, say sources familiar with the matter.
11 September 2021, 13:22 PM
Afghans fear for jobs and money after Taliban takeover
As a nurse at one of Kabul’s main hospitals, Latifa Alizada was the breadwinner for her family, providing for her three young boys and unemployed husband.Now -- since the Taliban rolled into Afghanistan’s capital -- she too is jobless, and worried about the future.
9 September 2021, 18:00 PM