WASHINGTON: Secretary of State Antony Blinken is heading to Central Asia hoping that greater US engagement will reassure former Soviet republics rattled by the Ukraine war, although Russia’s historic clout limits the extent of cooperation. Days after the anniversary of the Ukraine invasion, the top US diplomat will hold talks […]
Business
JAKARTA: Indonesia’s plan to require exporters to retain part of their earnings onshore should boost U.S. dollar liquidity, but bankers and businesses warn against imposing mandatory conversion of funds to rupiah, some likening it to a form of capital control. The central bank, Bank Indonesia (BI), hopes the repatriation of […]
Switzerland’s biggest bank UBS Group AG is looking to apply for a mutual fund license in China, the Wall Street Journal reported on Thursday, citing people familiar with the matter. The Swiss bank is in informal talks with the China Securities Regulatory Commission (CSRC) about its intention to apply, the […]
HONG KONG : Hong Kong will give more handouts to consumers to support the city’s recovery from a prolonged economic downturn induced by COVID-19 restrictions, Financial Secretary Paul Chan announced in the 2023/24 budget on Wednesday. The global financial hub will issue vouchers worth HK$5,000 ($637) per person to all […]
NEW DELHI: Independent Indian journalist Paranjoy Guha Thakurta is being sued by tycoon Gautam Adani’s business empire in six different courts – and he is not allowed to speak about the conglomerate or its owner. US investment firm Hindenburg Research, whose explosive report on Adani Group last month triggered a […]
STOCKHOLM : Nokia and Kyndryl have extended their partnership for three years after clocking up more than 100 customers for automating factories using 5G wireless networks, following their first tie-up a year earlier. Big technology firms have been partnering with telecom gear makers such as Nokia to sell private 5G […]
A year of war in Ukraine has already made a dent in world prosperity. But its deeper impact will be felt in how the conflict plays into shifts that were already reshaping the global economy before Russia’s tanks rolled in. Most immediately, the war added new uncertainties to the economic […]
TOKYO: Nintendo cut its full-year net profit forecast on Tuesday (Feb 7), saying the global chip shortage and other supply chain problems had hit console sales in the nine months to December. The Japanese gaming giant also trimmed the annual hardware sales forecast for its Switch console to 18 million […]
WASHINGTON : A U.S. judge issued a public ruling on Friday evening that denies a request by the U.S. Federal Trade Commission to stop a plan by Meta Platforms Inc to buy virtual reality content maker Within Unlimited, nixing regulators’ attempt to block the deal over concerns it would reduce […]
MUMBAI: Under-fire Indian tycoon Gautam Adani insisted Thursday (Feb 2) that the fundamentals of his conglomerate were “strong” even as shares in its companies plunged again after the group cancelled a multi-billion-dollar stock sale. Adani’s empire has lost more than US$100 billion following explosive allegations of accounting fraud last week […]