Economic news


TikTok Set to Restart e-Commerce in Indonesia with $1.5B Tokopedia Investment

TikTok Set to Restart e-Commerce in Indonesia with $1.5B Tokopedia Investment

China's TikTok has agreed to spend $840 million to buy most of Indonesian tech conglomerate GoTo's e-commerce unit - a move that appears to allow it to restart its online shopping business in Southeast Asia's largest economy. It also said it will invest further in the busine...


December 11, 2023
Renault to Pick Partner for new Twingo EV by Early 2024 -Sources
Renault to Pick Partner for new Twingo EV by Early 2024 -Sources

Renault aims to pick a partner to develop its new Twingo electric vehicle by early next year, two sources close to the matter said, with Volkswagen...

Occidental Petroleum to Buy CrownRock in $12 Billion Deal
Occidental Petroleum to Buy CrownRock in $12 Billion Deal

Occidental Petroleum said on Monday it would buy energy producer CrownRock in a cash-and-stock deal valued at $12 billion, to boost its...

Singapore's Shein Holds Talks with LSE on Possible Listing -Sky News
Singapore's Shein Holds Talks with LSE on Possible Listing -Sky News

Fast fashion firm Shein has held talks with the London Stock Exchange about the possibility of a public listing in the United Kingdom, Sky News...

Huawei to Start Building First European Factory in France next Year -Source
Huawei to Start Building First European Factory in France next Year -Source

China's Huawei will start building its mobile phone network equipment factory in France next year, a source familiar with the matter said,...

Sterling Rises ahead of Data-Heavy Run Up to BoE Meeting
Sterling Rises ahead of Data-Heavy Run Up to BoE Meeting

Sterling rose against the dollar on Monday as traders geared up for a busy week of data releases and central bank meetings including at the Bank of...

TSX Futures Dip on Lower Commodity Prices, Cenbanks' Decisions on Tap
TSX Futures Dip on Lower Commodity Prices, Cenbanks' Decisions on Tap

Futures tied to Canada's resources-heavy main stock index fell on Monday, tracking a decline in commodity prices, while investors await a raft...

Santander's Tier 1 Capital Requirement Raised by ECB
Santander's Tier 1 Capital Requirement Raised by ECB

Spain's Santander, the euro zone's second-biggest bank by market value, on Monday said the European Central Bank (ECB) had set a minimum...

Norway's Interest Rate Likely on Hold, Uncertainty Remains
Norway's Interest Rate Likely on Hold, Uncertainty Remains

Analysts are divided over whether Norway's central bank will continue to raise interest rates this week, with a narrow majority predicting an...

TC Energy's Coastal GasLink Seeks C$1.2B from Pipeline Contractor over Delays
TC Energy's Coastal GasLink Seeks C$1.2B from Pipeline Contractor over Delays

Coastal GasLink, a Canadian natural gas pipeline partnership operated by TC Energy, is seeking C$1.2 billion ($737 million) from one of its main...

Crypto Market Eyes Interest Rates Expected BTC ETFs in 2024
Crypto Market Eyes Interest Rates Expected BTC ETFs in 2024

After ending 2023 on a high, crypto investors will be watching central bank interest rates and a U.S. regulatory decision on new bitcoin products...

U.S Labor Market Still Hot: U.S. NFP Reported High with Low Jobless Rate,  UMich: Plunge in U.S. Inflation Expectations, Metals Dropped, USD strengthened
U.S Labor Market Still Hot: U.S. NFP Reported High with Low Jobless Rate, UMich: Plunge in U.S. Inflation Expectations, Metals Dropped, USD strengthened

Way more jobs than expected in the U.S. were recorded for November according to the NFP report on Friday, while the unemployment rate fell...

Rosneft says it Boosts Oil well Drilling at its Key Asset
Rosneft says it Boosts Oil well Drilling at its Key Asset

Russia's largest oil producer Rosneft said on Monday its key production asset, Yuganskneftegaz, had boosted oil well drilling in the...

European Shares Listless ahead of Cenbank Rate Decisions
European Shares Listless ahead of Cenbank Rate Decisions

European shares were lacklustre at the start of an event-heavy week as investors buckled up for key U.S. inflation print and interest rate...

UK's FTSE 100 Begins Cenbank-Heavy Week on Subdued Note as Miners Fall
UK's FTSE 100 Begins Cenbank-Heavy Week on Subdued Note as Miners Fall

The UK's FTSE 100 slipped on Monday, with mining stocks among the top decliners, tracking a fall metal prices, while investors await a slew of...

Oil Prices Hold Steady, Propped Up by US Purchases
Oil Prices Hold Steady, Propped Up by US Purchases

Oil prices held steady on Monday as U.S. efforts to replenish strategic reserves provided support, though concerns persist about oversupply and...

Stocks Stalled as Rate Cut Hopes Face Pivotal Week
Stocks Stalled as Rate Cut Hopes Face Pivotal Week

Shares limped lower on Monday in a week packed with a quintet of rich world central bank meetings and data on U.S. inflation that could make or...

Yen Drops, Hopes of Dec BOJ Pivot Fade, China's Yuan Slides
Yen Drops, Hopes of Dec BOJ Pivot Fade, China's Yuan Slides

The U.S. dollar rallied against Japan's yen on Monday after a report said the Bank of Japan saw little need to end negative interest rates in...

Russian Rouble Strengthens Towards 91 vs Dollar
Russian Rouble Strengthens Towards 91 vs Dollar

The Russian rouble strengthened on Monday, heading towards 91 against the dollar, supported by currency controls and high interest rates as the...

USD Rises ahead of US Inflation Data, Fed Meeting; CNY Heavy
USD Rises ahead of US Inflation Data, Fed Meeting; CNY Heavy

The dollar started Monday on the front foot, with a reading on U.S. inflation and the Federal Reserve's last policy meeting for the year likely...

INR Stands Pat, Likely RBI Help Counters Drop in Asian Peers
INR Stands Pat, Likely RBI Help Counters Drop in Asian Peers

The Indian rupee was little changed on Monday, aided by likely intervention from the Reserve Bank of India (RBI), even as its Asian peers slipped...

Macy's Investors Mount $5.8 Billion Buyout Bid
Macy's Investors Mount $5.8 Billion Buyout Bid

An investor group consisting of Arkhouse Management and Brigade Capital has made a $5.8 billion offer to take department store chain...

Asian Stocks Slip, Rate cut Hopes Face Pivotal Week
Asian Stocks Slip, Rate cut Hopes Face Pivotal Week

Asian shares drifted lower on Monday in a week packed with a quintet of rich world central bank meetings and data on U.S. inflation that could make...

UK Property Asking Prices Fall more than Usual -Rightmove
UK Property Asking Prices Fall more than Usual -Rightmove

Average asking prices for newly listed houses and apartments in the UK fell by 1.9% in December, more than the historic average decline for the...

UK Manufacturers Report some Signs of Recovery - Make UK
UK Manufacturers Report some Signs of Recovery - Make UK

Britain's struggling factories are seeing some signs of recovery, helped by a long-awaited burst of restocking and a pickup in export orders...

India's Sensex Trims Gains after Hitting Milestone of 70,000
India's Sensex Trims Gains after Hitting Milestone of 70,000

India's Nifty 50 and Sensex indexes hit record highs on Monday before paring the gains, dragged by pharma stocks following the U.S. drug...

PGA Tour Advances Deal Talks with Investors Including Fenway Sports Group
PGA Tour Advances Deal Talks with Investors Including Fenway Sports Group

The PGA Tour said on Sunday that it has unanimously decided to advance discussions with Strategic Sports Group (SSG), a consortium of U.S.-based...

December 8, 2023
Dollar Rises after Strong US Jobs Data; Takes Back some Losses from Yen
Dollar Rises after Strong US Jobs Data; Takes Back some Losses from Yen

The dollar rose on Friday after new data showed U.S. job growth accelerated in November and the unemployment rate dropped to 3.7%, pointing to...

S.African Rand Weakens after Surge in U.S. Payrolls Gains
S.African Rand Weakens after Surge in U.S. Payrolls Gains

South Africa's rand weakened against the dollar on Friday after a surge in U.S. payrolls gains dampened hopes of an early interest rate cut by...

U.S. Jobless Claims Increase, U.S. Indices High Volatility
U.S. Jobless Claims Increase, U.S. Indices High Volatility

New claims for unemployment benefits increased moderately last week, suggesting that the labour market is actually cooling and coinciding with the...

Investors Pile into Cash, Japan Equity Funds See Outflows - BofA
Investors Pile into Cash, Japan Equity Funds See Outflows - BofA

Cash funds saw a mammoth $93.2 billion of inflows in the week to Wednesday, Bank of America Global Research strategists said in a report, the...

Trafigura Predicts Slower 2024 after Record $7.4 bln Profits
Trafigura Predicts Slower 2024 after Record $7.4 bln Profits

Commodities trader Trafigura posted a record net profit of about $7.4 billion for the 12 months to the end of September, up 5% from a year earlier,...

India's Forex Reserves Rise for 3rd wk, Hit over 4-mth High
India's Forex Reserves Rise for 3rd wk, Hit over 4-mth High

India's foreign exchange reserves rose for a third straight week and stood at a more than four-month high of $604.04 billion as of Dec. 1,...

India's Max Healthcare to Buy Sahara Hospital in $113M Deal
India's Max Healthcare to Buy Sahara Hospital in $113M Deal

India's Max Healthcare Institute said on Friday it would buy Sahara Hospital in Lucknow, Uttar Pradesh for an enterprise value of 9.40...

Britain Proposes Simpler Financial Advice to Cut Costs for Consumers
Britain Proposes Simpler Financial Advice to Cut Costs for Consumers

Britain has proposed simplifying rules on financial advice to allow banks, insurers and investment firms to give information to less wealthy...

China Car Sales Growth Speeds Up in Nov as Price War Intensifies
China Car Sales Growth Speeds Up in Nov as Price War Intensifies

China's passenger vehicle sales rose 25.5% in November from a year earlier, faster than the prior month and extending growth to a fourth month,...

World Food Prices Hold Steady in November - FAO
World Food Prices Hold Steady in November - FAO

The United Nations food agency's world price index held steady in November, with lower international cereal prices offset by higher prices of...

Rising Energy Stocks Lift UK's FTSE 100 to near 2-mth Highs
Rising Energy Stocks Lift UK's FTSE 100 to near 2-mth Highs

The UK's FTSE 100 advanced on Friday, as higher crude oil prices lifted energy stocks, while shares of Anglo American dropped after the global...

Europe Shares Climb on Luxury Boost, Key U.S. Data in Focus
Europe Shares Climb on Luxury Boost, Key U.S. Data in Focus

European shares advanced on Friday boosted by luxury and energy stocks, while investors assessed Germany's inflation data and waited for a key...

Sterling Heads for Weekly Dive Versus Robust Yen
Sterling Heads for Weekly Dive Versus Robust Yen

The pound closed in on its largest weekly fall against the yen in a year on Friday, driven by a strong cash flow into the Japanese...

Anglo American Plans $1.8 Billion Spending Cuts by 2026
Anglo American Plans $1.8 Billion Spending Cuts by 2026

Global miner Anglo American aims to cut capital expenditure by $1.8 billion by 2026, it said on Friday, as it grapples with a fall in demand...

Woodside-Santos $52B Merger Talk Spurs Competition, Price Concerns
Woodside-Santos $52B Merger Talk Spurs Competition, Price Concerns

Santos Ltd shares jumped on Friday on the prospect of a possible $52 billion merger with bigger Australian rival Woodside, but investors said...

China's Nov new Yuan Loans seen Rising on Policy Support
China's Nov new Yuan Loans seen Rising on Policy Support

China's new loans are expected to have jumped in November from the previous month and exceeded the year-earlier amount, a Reuters poll showed,...


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