Turkey’s annual inflation rate has soared to a 19-year high, underlining the country’s financial turmoil and alarm over its president’s policies. Prices hit more than 36% December as the cost of transport, food and other staples ate into household budgets. Most central banks raise interest rates to help cool inflation […]
Business
WASHINGTON: Air travel continued to be severely disrupted in the United States on Saturday, with bad weather in parts of the country adding to the impact of a massive spike in Covid-19 infections fuelled by the Omicron variant. The United States had 2,723 cancelled flights, more than half of the […]
BEIJING : China’s December new home prices declined at a slower pace compared with a month earlier, a private-sector survey showed on Saturday, offering a tentative sign of stabilising demand after authorities took steps to avert a hard landing for the market. New home prices in 100 cities fell 0.02per […]
SEOUL: South Korea’s exports expanded at their fastest pace in 11 years in 2021, with the total export value reaching a record high, supported by post-pandemic recoveries in global demand. For the full year, exports rose 25.8per cent from a year earlier to US$644.54 billion, trade ministry data showed on […]
STOCKHOLM: Ikea will hike its prices by an average of 9 per cent next year due to ongoing supply and transportation disruptions, the company that operates most of the Swedish furniture giant’s stores said on Thursday (Dec 30). The announcement comes as pandemic-fuelled shortages and shipping challenges ramp up inflation […]
JAKARTA: Indonesia, Southeast Asia’s largest economy, will likely ratify its membership of the Regional Comprehensive Economic Partnership (RCEP) early next year, its chief economic minister said on Friday (Dec 31). The China-backed RCEP, the world’s biggest trade bloc, is set to enter into force on Jan 1, 2022. Details in […]
HONG KONG: Cathay Pacific Airways on Thursday said the latest tightening of quarantine restrictions on aircrew had led it to make significant changes to its flight schedule, including cancellations of passenger and cargo flights to and from Hong Kong. Hong Kong health authorities said on Tuesday the city would tighten […]
BEIJING: China’s foreign minister said today the United States will “face an unbearable price” over its actions towards the self-ruled island of Taiwan, in Beijing’s latest threat over the flashpoint island. Tensions between China and the US have soared in recent years over issues including human rights, trade and technological […]
SHANGHAI/HONG KONG : China Evergrande New Energy Vehicle Group started its first mass production on Thursday, two sources with direct knowledge of the matter said. Mass production for its inaugural Hengchi 5 sport-utility vehicles at its Tianjin production facilities came 12 days ahead of schedule, the people said, and the […]
SHANGHAI : China plans to sell a record amount of treasury bonds in 2022, while keeping overall interest rates of the issuance lower, as Beijing adopts a proactive policy to stabilize economic growth, a senior official at the finance ministry said. China will provide liquidity support for treasury bond […]