Economy

Mumbai:  India's foreign exchange reserves inched lower by $77 million during the week ended December 10. The Reserve Bank of India's forex reserves decreased to $635.828 billion from $635.905 billion during the week ended December 3.…
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Seoul:  Hyundai Motor Group said on Friday it replaced its top foreign executives in design and research & development (R&D) in the latest regular reshuffle that includes more than 200 promotions to senior positions, in a…
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Jakarta:  The World Bank has estimated that Indonesia's economy would grow by 3.7 per cent in 2021 and by 5.2 per cent in 2022, if there would be no other severe waves of the Covid-19 pandemic and the country's vaccination rate continues to…
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London: The Bank of England has raised the interest rate for the first time in more than three years amid surging inflation after cutting rate to record low during the Covid-19 pandemic. In a statement on Thursday, the bank said that its…
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Berlin:  German carmaker Audi has said it plans to invest around 18 billion euros ($20.4 billion) for electrification and hybridization during the next five years. Audi increased total investments in research and development as well as…
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San Francisco:  As e-commerce giant Amazon faces a US government's probe into its warehouse collapse in the state of Illinois that left six people dead, workers at the facility have told The Intercept that they received almost no emergency…
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Canberra: Australian flag carrier Qantas on Thursday posted its end-of-year balance sheets showing that the airline is poised to climb out of debt as demand for travel picks up in the second half of 2022. The company posted A$5.65…
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Bengaluru:  IPO-bound mobility platform Ola on Thursday said it has raised $500 million via a Term Loan B (TLB) from international institutional investors. According to the company, the proposed loan issuance received a staggering…
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Washington: The World Bank has announced a $93 billion replenishment package of the International Development Association (IDA) to help the poorest countries respond to the raging Covid-19 crisis and boost economic growth. The World…
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New Delhi:  Shares of recently-listed One97 Communications-owned Paytm slumped over 10 per cent during the intra-day trade on Wednesday as the mandatory one-month lock-in period for anchor investors ended. Anchor investors are those who…
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