Asia Business

China last year began construction on projects with the greatest combined coal power capacity since 2015, jeopardising the country’s goal to peak carbon emissions by 2030, according to a report published Thursday.The world’s second-largest economy is the biggest emitter of the greenhouse gases that drive climate change, but also a renewable energy powerhouse. It plans …

China’s 2024 coal projects threaten climate goals: report Read More »

Wall Street stocks mostly fell Wednesday after US inflation data exceeded expectations, while the euro strengthened on signs Russia and Ukraine could be closer to a peace agreement.Major US indices began the day firmly in the red after January US consumer price index data showed inflation grew, raising questions about whether the Federal Reserve’s progress …

US stocks mostly lower on inflation, euro gains on Ukraine peace hopes Read More »

US stock markets tumbled on Wednesday as an inflation reading came in hotter than expected, fanning fears that the Federal Reserve will keep interest rates higher for longer. Following days of attention on US President Donald Trump’s tariff moves, traders were focusing on the January consumer inflation data, which is set to play a role in …

US stocks fall as inflation unexpectedly heats up Read More »

Asian stock markets rose and there were fresh record highs for leading European indices Wednesday as attention turned to upcoming US inflation data.Following days of attention on US President Donald Trump’s tariffs, traders switch focus to the latest Consumer Price Index (CPI) which could alter Federal Reserve thinking on the outlook for interest rates.”Bar a …

Stock markets gain before US inflation data Read More »

Asian equities rose while London and Frankfurt hit fresh highs Wednesday as traders took in their stride a warning from Federal Reserve boss Jerome Powell that the US central bank was in no hurry to cut interest rates.The remarks, reflecting similar sentiments from another top monetary policymaker, came a day before the release of closely …

Asian, European stocks rise as Powell rate warning taken in stride Read More »

Most equities rose in Asia on Wednesday as traders took in their stride a warning from Federal Reserve boss Jerome Powell that the US central bank “did not need to be in a hurry” to cut interest rates again.The remarks, reflecting similar sentiments from another top monetary policymaker, came a day before the release of …

Asian stocks mostly rise as Powell rate warning taken in stride Read More »

The unfathomable scale of the world’s largest religious festival in India overshadows many nations in size — and for the economy, its impact is just as dramatic.”Business is booming everywhere for everyone across our city,” said taxi driver Manoj Kumar, whose northern Indian home of Prayagraj has swelled from its normal seven million residents dozens …

India’s Hindu mega-festival supercharges economy Read More »

US stock markets wobbled and gold hit fresh highs Tuesday as traders kept a nervous eye on US President Donald Trump’s next tariff moves and worried about inflation and interest rates.European markets rose, with both Frankfurt and London again setting records, while Asian equity markets struggled for direction.All three major US indices had opened lower, …

Global stocks wobble, gold shines as tariff uncertainty looms Read More »

Canada, Mexico and the EU on Tuesday slammed US President Donald Trump’s “unjustified” decision to impose tariffs on steel and aluminium imports, which has raised fears of a broader trade war.Trump signed executive orders to impose 25 percent tariffs on imports of the metals starting March 12, triggering a flurry of angry reactions.The European Union …

Canada, Mexico, EU slam ‘unjustified’ Trump steel tariffs Read More »

Canada and the EU vowed Tuesday to stand firm against US President Donald Trump’s move to impose tariffs on steel and aluminium imports — pushing Washington further towards a trade war with key global partners.Trump signed executive orders to impose 25 percent tariffs on steel and aluminium imports from March 12, triggering a flurry of …

Canada, EU vow firm response to Trump steel tariffs Read More »