Drinkers, smokers seek respite from gloom by trading up

Soaring inflation has made life harder for most of the world - but some people are still smoking expensive cigarettes and doing shots of fancy tequila.

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28-07-2022

China drops GDP target mention, aims for 'best possible' results instead

China will try hard to achieve the best possible results for the economy this year, state media said on Thursday after a high-level meeting of the ruling Communist Party, in contrast to previous calls to meet its full-year economic growth target.

newspaper

28-07-2022

U.S. yield curve flashing more warning signs of recession risks ahead

NEW YORK (Reuters) -The U.S. government bond market is sending a fresh batch of signals that investors are increasingly convinced the Federal Reserve's aggressive actions to tame inflation will result in recession.

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28-07-2022

Indonesia's Krakatau Steel, S.Korea's POSCO plan $3.5 billion investment

Indonesia's Krakatau Steel and South Korea's POSCO Holdings have agreed to invest $3.5 billion to expand their production capacity in the Southeast Asian country, the companies said on Thursday.

newspaper

28-07-2022

China targets $148 billion in financing for cash-strapped developers - FT

BENGALURU/HONG KONG (Reuters) -China will help property developers by issuing 1 trillion yuan ($148.2 billion) in loans for stalled developments, the Financial Times said on Thursday, as it tries to revive the debt-stricken sector and relieve pressure on the economy.

newspaper

28-07-2022

Red tape and reluctant locals cloud Germany's solar power rush

Two German renewable companies hope to build one of the country's biggest solar parks among rolling hills in the eastern district of Barnim to improve energy security in the face of an unprecedented supply crisis.

newspaper

28-07-2022

China's central bank targets $148 billion in financing for cash-strapped developers - FT

(Reuters) -China will help property developers by issuing 1 trillion yuan ($148.2 billion) in loans for stalled developments, the Financial Times said on Thursday, as it tries to revive the debt-stricken sector.

newspaper

28-07-2022

Indonesia says Krakatau Steel, S.Korea's POSCO plan $3.5 billion investment

Indonesia's Krakatau Steel and South Korea's POSCO Holdings have signed an agreement to invest $3.5 billion starting next year to expand their production capacity in the Southeast Asian country, Indonesia's investment ministry and POSCO said on Thursday.

newspaper

28-07-2022

Hong Kong central bank raises rates, warns of tighter interbank market

HONG KONG (Reuters) -The Hong Kong Monetary Authority (HKMA) on Thursday raised its base rate charged through the overnight discount window by 75 basis points to 2.75%, hours after the U.S. Federal Reserve delivered a rate hike of the same margin.

newspaper

28-07-2022