Business

May 3, 2024 10:45 AM

Asian stocks surge on tech boost; yen extends gains to cap wild week

Asian stocks rallied on Friday after Apple's record $110 billion share buyback plan lifted the tech sector, while the yen put more distance from recent 34-year lows to cap a tumultuous week that saw suspected interventions from Tokyo. With markets in Japan and mainland China closed on Friday, regio...

May 3, 2024 11:31 AM

South Korea to slap fines on food suppliers for ‘shrinkflation’

South Korea's antitrust regulator said on Friday food makers and suppliers will be required to notify shoppers if they reduce the size of their products or face fines of up to 10 million won ($7,300). The Fair Trade Commission (FTC) said it has designated the practice of some businesses to cut prod...

May 3, 2024 11:31 AM

Apple sales fall less than expected, CEO sees return to growth

Apple on Thursday reported a shallower than expected decline in quarterly revenue, and Chief Executive Tim Cook told Reuters the company expects a return to sales growth in the current quarter as it invests in AI features to be unveiled in the coming months. Apple said fiscal second-quarter revenue...

May 3, 2024 9:50 AM

Wall Street gains on Fed’s dovish signals

Wall Street's main indexes advanced on Thursday, a day after the Federal Reserve left interest rates unchanged and signaled a dovish tilt, with focus moving to a crucial job report later in the week. While Fed Chair Jerome Powell indicated that stubbornly high inflation would see a long-expected...

September 16, 2024 4:26 PM

RBI says 97.76% of Rs 2000 currency notes returned to banking system

The Reserve Bank of India (RBI) has issued an update regarding the withdrawal of Rs 2000 denomination banknotes from circulation. According to the RBI press release, the total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore as of May 19, 2023, has significantly decreased to R...

May 2, 2024 5:47 PM

Sharjah Trade Mission Heads to India to Boost Economic Ties

The Sharjah Chamber of Commerce and Industry (SCCI) is leading a high-profile trade delegation to India as India and the UAE mark two years of the Comprehensive Economic Partnership Agreement. The delegation will visit India from May 5-10 to explore new investment opportunities and strengthen econom...

May 2, 2024 10:17 AM

Asia stocks wobble on rate cut delays; yen leaps

Asian stocks got off to a shaky start on Thursday (May 2) after the Federal Reserve flagged delays to interest rate cuts, while the dollar fell heavily on the yen in what traders reckoned was Japanese intervention. Japan's benchmark Nikkei average opened down 0.71% at 38,004.01 on Thursday while Ho...

May 1, 2024 3:42 PM

Crypto washout sends bitcoin below $58,000 ahead of Fed decision

Bitcoin slid by almost 6 per cent on Wednesday, having posted its worst monthly performance in April since late 2022, as investors pulled money out of cryptocurrencies ahead of an interest rate decision by the Federal Reserve later. The value of the world’s most traded cryptocurrency fell by ne...