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Analysts have noted that the year-end period is typically a seasonally strong stretch for equities. (EPA Image pic) The Dow rose to a new record high Friday, extending a post-election US equity market rally propelled in part by anticipation of president-elect Donald Trump’s economic growth agenda. The blue-chip index piled on 1% to end the […]
Myanmar reported exports of over US$3 billion, while the EU cited higher figures, with more than half going to the bloc. (EPA Images pic) YANGON: As civil war pounds Myanmar’s economy and drives up prices, garment worker Wai Wai often starts her shift making clothes for international brands on an empty stomach. The orders she and […]
While about 1.5 million Australians still use cash for 80% of in-person payments, the number of businesses accepting it has declined. (Unsplash pic) SYDNEY: Australia will mandate businesses selling essential items such as groceries and fuel to accept cash payments, joining countries from Spain to Denmark amid the growth in more preferable digital payment methods. […]
Bentley announced that it was pushing back its target of building only 100% electric models by five years. (Bentley pic) LONDON: British luxury carmaker Bentley said Thursday that it was pushing back its target of building only 100% electric models by five years, until 2035. Four years after outlining its strategy of being fully electric by […]
The Boeing F-15 fighters will be equipped with weapons systems integrated with existing Israeli weapons as well as having increased range and payloads. (US Air Force pic) JERUSALEM: The Israeli defence ministry said on Thursday it had signed an agreement to acquire 25 next generation F-15 fighter jets from Boeing. It said the US$5.2 billion […]
Huawei has been cut off from global supply chains since 2019 due to US sanctions. (AFP pic) BEIJING: Chinese technology giant Huawei saw its net profit fall by over 13% in the first three quarters of 2024 year-on-year, a company filing showed today. Huawei has for several years been at the centre of an intense […]
BYD is the most prominent EV manufacturer in China. (AP pic) BEIJING: Chinese electric vehicle giant BYD reported surging sales today, surpassing global rival Tesla in quarterly revenue for the first time as its push into overseas markets advances. The EV and battery giant is a leading player in recent efforts by Chinese automotive firms […]
Chinese car giant Geely will now face an extra duty of 18.8% in the EU. (AP pic) BRUSSELS: The EU today decided to slap hefty tariffs on Chinese-made electric cars after an anti-subsidy probe concluded Beijing’s support to local manufacturers was unfair. The extra taxes have been controversial, with strong opposition from Germany and Hungary […]
A key pillar of India’s resilience is its currency, which has been stuck between 82.8 and 84.1 per dollar due to the Reserve Bank of India’s interventions. (Reuters pic) NEW DELHI: India is shaping up to be a destination for investors seeking relative shelter from financial volatility linked to the US election. A steady influx […]
The risk of US tariffs rattled China’s industry, responsible for over US$400 billion in exports to the US and components for American goods. (EPA Images pic) GUANGZHOU: If Donald Trump wins next month’s US presidential election, Mike Sagan’s toy-making company will halve its China supply chain within a year. KidKraft, which also makes outdoor play […]