15h ago| Global Economy

Gas prices in Europe may climb 60pc

Russian state gas company Gazprom said on Tuesday that European gas prices could spike by 60 per cent to more than $4,000 per 1,000 cubic metres this winter, as the company’s own export and production continues to fall amid Western sanctions.

15h ago| Global Economy

Oil prices extend loss

Oil prices extended losses Tuesday but European gas prices hit near six-month highs, in both cases fuelling fears of recession.

15h ago| Global Economy

Net zero, Russia war driving nascent hydrogen economy

Kevin Kendall pulls up at the only green hydrogen refuelling station in Birmingham, Britain’s second-biggest city, and swiftly fills his sedan with clean gas.

1d ago| Global Economy

Iran’s top automaker sets sights on Russia

Iran’s leading automaker is seeking to prioritise exports to Russia, its CEO said Sunday, as both countries reel under Western economic sanctions.

1d ago| Global Economy

China’s refinery output drops to over 2-year low

China’s refinery crude throughput fell last month to its lowest since March 2020 as several state refiners underwent unplanned shutdowns and their independent peers trimmed production in response to thinning margins.

1d ago| Global Economy

Thai economy sees stunted growth

Thailand’s economy grew 2.5 per cent in the second quarter as returning foreign tourists failed to offset high inflation and concerns over regional tensions, the country’s main economic agency said Monday.

August 16, 2022
August 16, 2022

Chinese NYSE delistings to pave way for audit deal with US: analysts

The move to delist five Chinese state-owned enterprises (SOEs) from the New York Stock Exchange (NYSE) could pave the way for Beijing to strike an audit deal with the United States, ending a more than decade-old dispute, analysts and advisers said on Monday.

August 16, 2022
August 16, 2022

Rouble falls past 61 vs dollar

The rouble slid past 61 to the dollar on Monday as the conversion of depository receipts in Russian companies to local shares got underway, and as foreign investors from designated “friendly” countries were able to return to the bond market.

August 16, 2022
August 16, 2022

Japan’s economy stages modest bounce from Covid-19 jitters

Japan’s economy rebounded at a slower-than-expected pace in the second quarter from a Covid-induced slump, data showed on Monday, highlighting uncertainty on whether consumption will grow enough to bolster a much-delayed, fragile recovery.

August 16, 2022
August 16, 2022

How China manages refined fuel exports

China’s refined fuel exports are likely to sink in 2022 to the lowest in seven years as the country seeks to maintain ample domestic supplies while refinery output posts a rare decline.

August 16, 2022
August 16, 2022

Thai economy sees stunted growth

Thailand’s economy grew 2.5 per cent in the second quarter as returning foreign tourists failed to offset high inflation and concerns over regional tensions, the country’s main economic agency said Monday.

August 16, 2022
August 16, 2022

China’s refinery output drops to over 2-year low

China’s refinery crude throughput fell last month to its lowest since March 2020 as several state refiners underwent unplanned shutdowns and their independent peers trimmed production in response to thinning margins.

August 16, 2022
August 16, 2022

Iran’s top automaker sets sights on Russia

Iran’s leading automaker is seeking to prioritise exports to Russia, its CEO said Sunday, as both countries reel under Western economic sanctions.

August 16, 2022
August 16, 2022

China unexpectedly cuts key rates as economy slows

China’s central bank cut key lending rates in a surprise move on Monday to revive demand as data showed the economy unexpectedly slowing in July, with factory and retail activity squeezed by Beijing’s zero-Covid policy and a property crisis.

August 16, 2022
August 16, 2022

China’s 2022 fuel exports to drop to 7-year low

China’s fuel product exports will rebound in August to near the highest for the year so far after Beijing issued more quotas in June and July, although broader curbs are set to cap shipments at seven-year lows for 2022, analysts and traders said.

August 16, 2022
August 16, 2022

Malaysia Airlines to buy 20 Airbus jets

Malaysia Airlines has agreed to acquire 20 Airbus A330neo planes to update its fleet of widebody jets, the European aircraft-maker said Monday.