Business

BRUSSELS: Russia’s missile strikes on Ukraine have laid bare the “malice and cruelty” of its war and further united the international community to support Ukraine’s military efforts to defend itself, US Defence Secretary Lloyd Austin said today. Austin, speaking at the start of a Ukraine-focused meeting at Nato headquarters, praised […]

TOKYO : It is important for Japan to connect the weak yen to economic revitalisation through a recovery of inbound tourism and bringing companies back to the country, Prime Minister Fumio Kishida told parliament on Wednesday. Kishida added that specific monetary policy moves, such as an exit from easing, were […]

JERUSALEM : A free trade agreement between Israel and South Korea will go into effect on Dec. 1, Israel’s Economy Ministry said on Wednesday, in a move expected to lower the prices of Korean-made cars, toys, video game consoles and soy sauce. The agreement was ratified by Korea’s parliament on […]

HONG KONG : Swiss private bank Union Bancaire Privée (UBP) is back in Chinese markets, its chief investment officer said, making its way back to the world’s second-largest economy after withdrawing last year. UBP has more than $150 billion of assets. It returned to China in August after having exited […]

SEOUL : South Korean authorities are exploring ways to divert some the domestic pension fund’s foreign currency needs as they try to put a floor under a rapidly weakening won. The country’s central bank is reviewing a currency swap with the National Pension Service to sate the fund’s dollar needs, […]

Global equity funds remained out of favour in the seven days to Sept. 7 as a strong U.S. services industry report fuelled concerns that the Federal Reserve would keep hiking interest rates to tame inflation. Some investors had expected that the Fed might temper its rate hikes to avert a […]

DUBAI: Iraq has received requests to increase the quantities of crude oil it exports to Asia, the head of state oil marketer SOMO told state news agency INA on Friday. China and India will not give up on Iraqi crude oil even if Russian oil is currently offered to them […]

Twitter Inc misled federal regulators about its security defenses and spam accounts, CNN and the Washington Post reported on Tuesday, citing whistleblower disclosures by the social media company’s former security chief Peiter Zatko. Twitter executives don’t have the resources to fully understand the true number of bots on the platform, […]

TOKYO : The U.S. dollar hit a fresh five-week high versus major peers on Monday after more Federal Reserve officials flagged the likelihood of continued aggressive monetary tightening ahead of the central bank’s key Jackson Hole symposium this week. The euro sank to a new five-week trough after Russia announced […]