TRADE WARS - AFRICA DAILY

Hong Kong unveils US$97 billion post-pandemic budget

Feb 22, 2023 (AFP)

Hoping to kickstart the finance centre's economy, Finance Secretary Paul Chan announced tax cuts and more consumer spending vouchers. Hong Kong's leaders are ke...

Chinese-owned British Steel says plans 260 job cuts

Feb 22, 2023 (AFP)

The company said its energy costs last year increased by 190 million pounds ($230 million). "Decisive action is required because of the unprecedented rise in op...

HSBC says pre-tax profits slip to $17.5 bn in 2022

Feb 21, 2023 (AFP)

The Asia-focused lender said it made $17.5 billion before tax, down more than seven percent on-year, while reported revenue increased four percent to $51.7 bill...

Philippine lawmakers ratify entry to world's largest trade pact

Feb 21, 2023 (AFP)

The Regional Comprehensive Economic Partnership includes 10 Southeast Asian economies along with China, Japan, South Korea, New Zealand and Australia, with memb...

Asian markets mixed, with rates set to go higher

Feb 21, 2023 (AFP)

With Wall Street closed Monday for Presidents' Day there were few catalysts for regional investors, with focus on the release later in the week of minutes from ...

Australian miner BHP says China, India to boost demand

Feb 21, 2023 (AFP)

The Australian multinational, a leading producer of metallurgical coal, iron ore, nickel, copper and potash, said net profit slumped 32 percent year-on-year to ...

Asian markets rise but rate concerns cast shadow

Feb 20, 2023 (AFP)

Equities have struggled to build on January's rally, with recent data showing that the Federal Reserve still had plenty of work to do to get prices under contro...

Luxury sector eyes reopening of China

Feb 19, 2023 (AFP)

The world's largest luxury group LVMH posted a 23-percent jump in sales to a record of 79 billion euros ($86 billion) in 2022 and saw profits climb 17 percent t...

Earthquake sends tremors through Turkey's fragile economy

Feb 19, 2023 (AFP)

Now, it must pour billions of dollars into rebuilding 11 southeastern provinces flattened by the February 6 tremor -- the worst disaster of its post-Ottoman his...

Markets drop as traders eye higher-for-longer rates

Feb 17, 2023 (AFP)

Data showing the US wholesale price index eased slightly last month but rose more than forecast, reinforcing the view that the central bank still has much more ...

China remains Germany's biggest trade partner in 2022

Feb 16, 2023 (AFP)

Goods worth 297.9 billion euros ($318.9 billion) were exchanged between the two countries last year, up 20 percent despite the continuing impact of the coronavi...

World Bank chief David Malpass to step down early

Feb 16, 2023 (AFP)

The veteran of Republican administrations in the United States was appointed to the role in 2019 when Donald Trump was president and previously served as Under ...

Asian markets retreat as US inflation fuels rate-hike bets

Feb 15, 2023 (AFP)

The much-anticipated figures from January's consumer price index showed a slight slowdown from the previous month, but the 6.4 percent reading was higher than f...

China to resume issuing short-term visas for S. Koreans

Feb 15, 2023 (AFP)

The move follows South Korea's decision last week to end Covid-linked travel restrictions on Chinese nationals -- rules that sparked a furious response and tit-...

Toshiba revises down forecasts as it weighs buyout

Feb 14, 2023 (AFP)

In April last year, the firm said it was suspending a plan to split in two after a shareholder vote against the idea and would weigh going private. Last week, T...

Asian markets mixed in nervous trade ahead of US inflation data

Feb 14, 2023 (AFP)

After a bright January, traders have endured a shaky couple of weeks as they contemplate the prospect of more Federal Reserve interest rate hikes aimed at cooli...

Singapore maintains 2023 GDP growth forecast, spurred by China reopening

Feb 13, 2023 (AFP)

The city-state's economic performance is often seen as a useful barometer of the global environment because of its reliance on trade with the rest of the world....

Texas, other US states mull ban on Chinese buying land

Feb 10, 2023 (AFP)

The Texas proposal also would bar Russians, Iranians and North Koreans from owning real estate. But the principal target appears to be Chinese nationals. The dr...

Biden, Lula to unite on environment at W.House but split on Ukraine

Feb 10, 2023 (AFP)

Lula, who led Brazil from 2003 to 2010 and returned to power in January after defeating right-winger Jair Bolsonaro, tweeted that he looks forward to a "very pr...

Asian markets follow Wall St down; Singapore maintains GDP forecasts

Feb 10, 2023 (AFP)

While data in recent months has shown inflation is coming down, the employment figures showed the economy remained robust, leading several top Federal Reserve o...