G7 summit seen ending without communique due to gaps on trade

A Group of Seven summit to be held this weekend in France will likely end without a joint communique due to gaps between member nations on trade, a Japanese government official with knowledge of the matter said on Tuesday.
20 August 2019, 18:00 PM

Japan allows further exports of high-tech material to South Korea

Japan has approved shipments of a high-tech material to South Korea for the second time since imposing export curbs last month, two sources said, ahead of talks by government officials this week to resolve a dispute stemming from their wartime past.
20 August 2019, 18:00 PM

WhatsApp in talks to launch mobile payments in Indonesia

Facebook Inc’s messaging service WhatsApp is in talks with multiple Indonesian digital payment firms to offer their mobile transaction services, in a bid to tap the nation’s fast growing e-commerce sector, people familiar with the matter said.
20 August 2019, 18:00 PM

New figures show UK economy a little larger than thought

Britain’s economy is slightly larger than previously thought, according to new official estimates published on Tuesday that take into account new methodology and data.
20 August 2019, 18:00 PM

Indian govt panel recommends across board corporate tax cut to 25pc

An Indian government panel has recommended cutting the corporate tax rate to 25 percent from 30 percent for all companies and scrapping surcharges on tax payments, an official said on Tuesday, part of a major overhaul of the six-decades old tax act.
20 August 2019, 18:00 PM

SoftBank to lend employees $20b to invest in new fund

Japan’s SoftBank Group Corp is planning to lend up to $20 billion to its employees, including Chief Executive Masayoshi Son, to buy stakes in its second Vision Fund, the Wall Street Journal reported on Saturday, citing people familiar with the matter.
18 August 2019, 18:00 PM

Easy credit poses tough challenge for Russian economy

New machines popping up in Russian shopping centres seem innocuous enough -- users insert their passport and receive a small loan in a matter of minutes.
18 August 2019, 18:00 PM

UK finance minister aims to take advantage of cheap borrowing

New British finance minister Sajid Javid is looking at how best to take advantage of record-low borrowing costs when he sets out his first budget later this year, according to an interview published late on Friday.
18 August 2019, 18:00 PM

Germany has fiscal muscle to counter next crisis: Scholz

Germany has the fiscal strength to counter any future economic crisis “with full force”, Finance Minister Olaf Scholz said on Sunday, suggesting Berlin could make available up to 50 billion euros ($55 billion) of extra spending.
18 August 2019, 18:00 PM

Kuwait sovereign fund in portfolio shift on signs of global economic weakness

The Kuwait Investment Authority (KIA) began increasing its exposure to bonds and cash two years ago to boost liquidity in its portfolio as the global economy showed signs of weakness, Kuwaiti newspaper Alqabas reported on Sunday, citing sources.
18 August 2019, 18:00 PM

Ferrari will expand its lineup of road cars, but not too much

Italian premium sports car maker Ferrari NV will expand sales of easier-driving grand touring cars, but will not try to chase rival Porsche’s annual sales volume, Ferrari Chairman John Elkann told an audience of classic car enthusiasts gathered at this storied golf resort on the Pacific coast.
18 August 2019, 18:00 PM

Surprise rate cut in Mexico ‘no use’ for growth in short term

The Mexican central bank’s surprise interest rate cut on Thursday is likely to have a limited impact at best on lifting growth this year after the sluggish economy narrowly avoided recession in the first half of 2019, analysts say.
18 August 2019, 18:00 PM

Consumers supporting US economy amid manufacturing slump

American consumers appear to be carrying the US economy in their shopping carts as manufacturing slumps amid President Donald Trump’s trade conflict with China, and financial signals warn of a possible recession.
17 August 2019, 18:00 PM

Indonesia’s leader pledges capital move, economic boost

Indonesian leader Joko Widodo said Friday he would press on with plans to move the nation’s capital and roll out measures to kickstart Southeast Asia’s biggest economy as it feels the sting of slowing global growth.
17 August 2019, 18:00 PM

Is the clock ticking again for Argentine debt? Ask the IMF

A collapse in Argentina’s peso currency this week and soaring borrowing costs have fueled investors’ concern that Latin America’s third-largest economy is heading for another debt restructuring.
17 August 2019, 18:00 PM

China unveils rate reform to steer funding costs lower for firms

China’s central bank unveiled a key interest rate reform on Saturday to help steer borrowing costs lower for companies and support a slowing economy that has been hurt by a trade war with the United States.
17 August 2019, 18:00 PM

US removes some Chinese furniture, modems from planned 10pc tariffs

The Trump administration is sparing some Chinese-made household furniture, baby items and internet modems and routers from its next rounds of 10 percent tariffs, it said on Friday.
17 August 2019, 18:00 PM

Alibaba and the $15b question: Amid Hong Kong’s protests, when to list?

Hong Kong’s political unrest is posing a dilemma for Alibaba Group Holding Ltd on the timing of its planned $15 billion listing in the city, with sources saying China’s biggest e-commerce company is now considering several timetables.
17 August 2019, 18:00 PM

Thailand earmarks $10b for ‘urgent economic stimulus’

Thailand will pour more than $10 billion into the economy, the finance ministry said Friday, as a new government looks to kickstart sputtering growth after five years of junta rule.
17 August 2019, 18:00 PM

US set to give Huawei another 90 days to buy from American suppliers

The US Commerce Department is expected to extend a reprieve given to Huawei Technologies that permits the Chinese firm to buy supplies from US companies so that it can service existing customers, two sources familiar with the situation said.
17 August 2019, 18:00 PM