Pakistan’s central bank says its foreign exchange reserves have fallen to $6.7bn, its lowest level in nearly four years as the country battles an economic crisis. Thursday’s announcement by the…
Category: Business News
Canada: Central Bank of hikes interest rate to highest level in 15 years
The Bank of Canada on Wednesday hiked its benchmark overnight interest rate by 50 basis points to the highest level in almost 15 years and signalled its historic tightening campaign…
USA: Parler says Kanye West deal off, as rapper says he ‘likes’ Hitler
Parler, the right-leaning social media platform, will no longer be sold to Ye, its parent company said, hours after the rapper formerly known as Kanye West praised Adolf Hitler. Parlement…
USA: FTX’s Bankman-Fried denies trying to commit fraud
Former FTX Chief Executive Sam Bankman-Fried has apologised for a “lot of mistakes” made in the abrupt collapse of the cryptocurrency firm, saying he did not knowingly behave fraudulently. “I…
China: BYD to launch electric vehicles in Mexico next year
Chinese electric-vehicle maker BYD has announced it will launch its cars in Mexico next year, with a senior executive pegging its sales target at up to 30,000 vehicles in 2024.…
India: Tata Group to merge Air India with Vistara airlines
Indian conglomerate Tata Group is merging Air India with Vistara, its joint venture with Singapore Airlines (SIA), to create a bigger full-service carrier that will strengthen its presence in domestic…
South Korea: Authorities order striking truckers back to work
South Korea’s government has taken the unprecedented step of invoking tough strike-busting laws to end a six-day stoppage by truck drivers it says is hurting the economy. The order was…
USA: Musk claims Apple wants to block Twitter from its app store
Elon Musk has accused Apple Inc of threatening to block Twitter Inc from its app store without saying why in a series of tweets that also said the iPhone maker…
Nigeria: Central Bank launches new banknotes to help curb corruption
Nigeria has launched newly designed currency notes, a move that the West African nation’s central bank says will help curb inflation and money laundering. Experts, however, are sceptical about such…
USA: Elizabeth Holmes sentenced to more than 11 years in prison
A California judge has sentenced Theranos founder Elizabeth Holmes to 11 years and three months in prison for defrauding investors in her now-defunct blood-testing startup that was once valued at…