China's Economy Slows Down as Covid Outbreaks and Property Crisis Bite
China’s economy unexpectedly slowed in July, with the factory and retail activity squeezed by Beijing’s zero-Covid policy and a property crisis, while the central bank surprised markets by cutting key lending [...]
Spain's Inflation Hits 10.8% in July, the Highest Since 1984
Spain's annual inflation rose to 10.8% in July, above market expectations of 10.6%, hitting the highest level since 1984. The figure was 10.2% in June. The increase in inflation was [...]
India to Restrict Sale of Phones Costing Less than $150 by Chinese Firms
India has announced plans to restrict Chinese smartphone makers from selling devices cheaper than $150, seeking to kickstart its faltering domestic industry The move is aimed at pushing Chinese giants [...]UK's GDP Shrinks in Q2 2022, 1st Time Since the COVID-19 Pandemic
The UK economy shrank in the second quarter for the first time since the pandemic, driven by a decline in spending by households and on fighting the coronavirus. The Office [...]Argentina Hikes Interest Rate to 69.5%-Biggest Hike in 3 years
Argentina’s central bank raised its benchmark Leliq rate to 69.5%, representing the largest hike in almost three years and signalling a more aggressive stance against surging inflation. According to a [...]Disney+ Subscribers Surge to 152 million as Netflix Subscribers stumble
Disney+ streaming service saw its number of paying subscribers leap beyond expectations in the last quarter, as rival Netflix’s client count ebbed, resultsshowed Wednesday. The number of people subscribing to [...]Sri Lanka Raises Electricity Tariffs by Up to 264%
Sri Lanka's state-run electricity monopoly will raise tariffs by 264% for people consuming the least, while higher users will face a smaller increase, with effect from 10th August 2022. The [...]US Inflation Eases Slightly In July on Lower Petrol prices
US inflation decelerated in July by more than expected, reflecting lower energy prices, which may take some pressure off the Federal Reserve to continue aggressively hiking interest rates. The consumer [...]Cathay Pacific Posts $637 Million Loss in H1 2022
Hong Kong airline, Cathay Pacific Airways has posted a $637 million loss in the first half of 2022, down from $964.5 million during the same period last year. Cathay’s first-half [...]Elon Musk Sells Tesla Shares Worth $6.9 Billion
Elon Musk has sold $6.9 billion of stock (about 7.92 million shares) inTesla Inc., the billionaire’s biggest sale on record, saying he wanted to avoid a last-minute selloff of the [...]US trade deficit in June shrinks to 6.2%, Exports Hit Record High
US exports set another record in June, narrowing the US trade gap for the third consecutive month, according to official data released on Thursday. Goods and services exports rose by $4.3 [...]KQ Shoulders Losses as Schipol Extends Passenger Cuts to October
Kenya Airways (KQ) will continue to shoulder more losses on its Europe route after Schiphol International airport extended passenger caps to October from the initial August date it had issued. [...]
