The Financial Express

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US federal reverse repo facility hits record $2.554 trillion

-- 2022-12-31 19:07:20

A key facility the US Federal Reserve uses to help control short-term interest rates saw record inflows on Friday, the final trading day of the year. The New York Fed said that its reverse repo facil...

Wall Street ends 2022 with biggest annual drop since 2008

REUTERS 2022-12-31 12:49:22

US stocks closed out 2022 lower on Friday, capping a year of sharp losses driven by aggressive interest rate hikes to curb inflation, recession fears, the Russia-Ukraine war and rising concerns over C...

Indian rupee ends 2022 as worst-performing currency in Asia

-- 2022-12-30 17:42:02

The Indian rupee ended 2022 as the worst-performing Asian currency with a fall of 11.3 per cent, its biggest annual decline since 2013, as the dollar rocketed on the US Federal Reserve's aggressive mo...

India’s current account gap widens to nine-year high

-- 2022-12-30 16:57:10

India's current account deficit widened in the July-September quarter as high commodity prices and a weak rupee increased the country's trade gap, data from the Reserve Bank of India (RBI) showed on T...

Biden signs $1.7 trillion spending bill as Americans fight inflation

-- 2022-12-30 16:07:13

US President Joe Biden has signed a 1.7 trillion-US-dollar spending bill for the federal government. The legislation will keep the federal government operating through the end of the federal budget y...

China's factory activity likely cooled in December on Covid surge

-- 2022-12-30 13:08:29

China's factory activity is expected to have extended declines in December, a Reuters poll showed on Friday, as the end of the country's "zero-Covid" policy and rising infections began to affect produ...

Pakistan forex reserves fall by $294 million

-- 2022-12-29 21:01:42

The State Bank of Pakistan (SBP) announced that its foreign exchange reserves had decreased by 294 million US dollars. During the week ending on Dec. 23, the total foreign exchange reserves of the Pa...

‘Revenue collection grows 15.0pc on average over last few years’

-- 2022-12-28 22:48:18

Finance Minister AHM Mustafa Kamal has said Bangladesh witnessed a massive development in the revenue sector after the Awami League government assumed office in 2009. He informed the revenue collecti...

Asian shares slip as investors gauge China reopening policy

REUTERS 2022-12-28 09:49:46

Asian equities were subdued on Wednesday, while the dollar held firm, with investors looking for direction after China took further steps towards reopening its COVID-battered economy. MSCI's broadest...

Nearly three in five German industry associations foresee gloomy 2023

-- 2022-12-27 15:35:35

Nearly three out of five German industry associations are pessimistic about next year and expect their companies to produce less as high energy prices due to the war in Ukraine show no signs of abatin...

Japan's jobless rate falls to 2.5pc in Nov

REUTERS 2022-12-27 12:51:18

Japan's jobless rate fell to 2.5 per cent in November, while the availability of jobs stayed at its highest level since March 2020, government data showed on Tuesday. The seasonally adjusted unemploy...

India's NDTV shares rise as founders plan to sell stake to Adani

-- 2022-12-26 17:19:07

Shares of Indian news broadcaster New Delhi Television Ltd rose over 4 per cent on Monday after founders Prannoy Roy and Radhika Roy said they would transfer their 27.26 per cent stake in the company...

Bloomberg owner eyes Wall Street Journal or Washington Post acquisition: Report

-- 2022-12-24 12:12:36

Michael Bloomberg has expressed the desire to own a big-name newspaper over the years but has not reached out to Rupert Murdoch to discuss a possible purchase of Dow Jones and its flagship paper the W...

India replaces Covid-era free food programme with cheaper scheme

-- 2022-12-24 10:17:08

India will end its Covid-19 era free food programme on December 31 and replace it with a cheaper programme that will save the government nearly $20 billion in the next 12 months. Late on Friday, Indi...

Pakistan faces risk of default as its forex reserves plunge to eight-year low

FE ONLINE DESK 2022-12-23 21:14:34

Pakistan’s foreign exchange reserves plunged to $6.1 billion, the lowest since 2014, as of December 16, the central bank of the country has said. In continuation of the declining spree, foreign...

Japan OKs $865 billion budget for FY 2023

-- 2022-12-23 20:53:47

The Japanese government adopted a record draft budget of 114.38 trillion yen (865 billion US dollars) for the fiscal year 2023 (April 2023-March 2024) on Friday, with defence spending hitting a record...

Japan's consumer inflation hits fresh 40-year high, eyes on BOJ policy

REUTERS 2022-12-23 14:01:30

Japan's core consumer inflation hit a fresh four-decade high as companies continued to pass on rising costs to households, data showed, a sign price hikes were broadening and could keep the central ba...

Musk says he will not sell more Tesla stock for about two years

-- 2022-12-23 12:37:29

Tesla Chief Executive Officer Elon Musk said on Thursday he will not sell any more Tesla stock for about two years. While speaking in a Twitter Spaces audio chat, Musk said he foresees the economy wi...

Japan to unveil record $864b budget

-- 2022-12-23 11:47:01

Japan is set to unveil on Friday a record $864 billion budget for the next fiscal year from April, pushed up by increased military spending and higher social security costs for a fast-ageing populatio...

Dhaka, New Delhi agree to start discussion for CEPA soon

FE ONLINE DESK 2022-12-23 10:38:06

Bangladesh and India today (Dec 22) agreed to start discussions for a Comprehensive Economic Partnership Agreement (CEPA) at an early date for benefit of people of both the countries, BSS reports. Th...

G7 commits to $32 bn in budget support for Ukraine in 2023

FE ONLINE DESK 2022-12-23 10:33:37

The Group of Seven (G7) wealthy nations has mobilised up to $32 billion in budget and economic support for Ukraine next year, their finance ministers said in a joint statement on Thursday, addin...

In hangover of World Cup fiesta, Argentina's economic reality bites

-- 2022-12-22 14:12:37

Gregorina Victorica, 86, a retiree in Buenos Aires has been cheering Argentina's victory in the soccer World Cup, which has lifted spirits in the South American nation and brought joy to people hard h...

ADB grants $22m to support Sri Lankan farmers

-- 2022-12-21 19:51:45

The Asian Development Bank (ADB) has granted 8.0 billion Sri Lankan rupees (22 million US dollars) to support 1.2 million farming families in Sri Lanka, the President's Media Unit (PMD) has said.&nbsp...

Global economy bets on China learning to live with Covid

-- 2022-12-21 12:31:59

Those who believe the world economy can avoid the hardest of landings next year are watching China closely to see whether its move to loosen pandemic restrictions will help that scenario come about or...

India's post-Covid spending boom drives two-speed economy

-- 2022-12-21 10:14:16

India is set to be the world's fastest-growing major economy in the year ahead, as a post-pandemic retail boom and recent bank balance-sheet repairs lure new investment, fueling hot demand for everyth...

Xiaomi to slash 15pc of jobs

-- 2022-12-20 10:54:40

China's Xiaomi Corp has started laying off workers in several units of its smartphone and internet services business, reducing its workforce by about 15 per cent, the South China Morning Post reported...

Iran central bank governor blames protests for currency's fall

FE ONLINE DESK 2022-12-18 12:20:03

Iran's central bank governor on Saturday partly blamed recent anti-government unrest for the fall of the Iranian currency to record lows, while authorities detained a prominent actress who...

Elon Musk's team seeks new funding for Twitter

-- 2022-12-17 15:00:38

Elon Musk’s team has reached out to investors to raise new funds for his struggling social media platform Twitter, one of the investors said. Ross Gerber, president and CEO at Gerber Kawasaki W...

Goldman Sachs to cut thousands of staff

-- 2022-12-17 10:38:26

Goldman Sachs Group is planning to cut thousands of employees to navigate a difficult economic environment, a source familiar with the matter said. The layoffs are the latest sign that cuts are accel...

Asian shares decline after retreats on Wall Street, Europe

FE ONLINE DESK 2022-12-16 13:54:21

Asian shares followed Wall Street and Europe lower on Friday, with markets jittery over the risk that the Federal Reserve and other central banks may end up bringing on recessions to get inflation und...