Migrants are risking their lives by boarding small boats to cross the English Channel to the UK. Over 600 people on 14 ships reached Britain last Saturday alone. About 1,843 illegal immigrants crossed into the UK in 2019, but that number quickly multiplied to 28,526 in 2021. Now, the nation is bracing for 60,000 undocumented […]

ASIA: India’s oil imports from Russia fell in July for the first time since March, along with its overall purchases, while supplies from Saudi Arabia rebounded for the first time in five months, data from trade and industry sources showed. Indian refiners lifted more futures from Saudi Arabia as prices were attractive, while prices for […]

ASIA: Japan’s imports jumped to a record amount in July, boosted by global fuel inflation and a weak yen, outweighing exports and deepening the trade deficit, in a sign of a further worsening in the terms of trade for the export-oriented economy. Ministry of Finance data showed on Wednesday exports grew 19.0% in July from […]

ASIA: The move to delist five Chinese state-owned enterprises (SOEs) from the New York Stock Exchange (NYSE) signals that Beijing may be willing to compromise to strike an audit deal with the United States and end a more than decade-old dispute. Analysts and consultants informed about it on Monday. Five state-owned enterprises, including oil major […]

ASIA: China’s central bank surprisingly cut key interest rates on Monday to revive demand as data showed the economy unexpectedly slowed in July, with factory and retail activity squeezed by Beijing’s zero-Covid policy and the property crisis. Industrial production in July rose 3.8% from a year earlier, according to the National Bureau of Statistics (NBS), […]

ASIA: India’s consumer inflation eased to 6.71% in July, easing for a third straight month, helped by slower increases in food and fuel prices and adding to expectations that the central bank may rein in the pace of interest rate hikes next month. The year-on-year figure, published by the Office for National Statistics on Friday, […]

ASIA: According to Morgan Stanley analysts, India is likely to be the fastest growing Asian economy by 2022-23. They expect India’s gross domestic product growth to average 7 percent over the period — the strongest among major economies — and contribute 28 percent and 22 percent to growth in Asia and 22 percent, respectively. Much […]

ASIA: Japan ran a current account deficit for the first time in 5 months in June as rising imports eclipsed exports, data showed on Monday (Aug 8), underscoring the pressure on the economy from higher energy and raw material prices. The world’s third-largest economy posted a current account deficit of ¥132.4 billion (USD 1.4 billion) […]

ASIA: China’s export sector posted strong growth in July, providing a much-needed boost to the world’s second-largest economy, which is almost certain to miss its GDP target this year. Exports measured in US dollars jumped 18% in July from a year earlier, marking the fastest pace of growth this year, according to Chinese customs statistics […]

ASIA: China’s consumer inflation could soon surpass 3%, CICC said. A global inflation wave that has largely bypassed the world’s second-largest economy may eventually hit prices there. Consumer price inflation in China has remained relatively low compared to soaring costs seen elsewhere as demand remains squeezed by strict Covid control policies and sporadic outbreaks. China’s […]