Business

Oil prices dropped for a second day on Tuesday on worries about slower fuel demand growth as outbreaks of the highly contagious COVID-19 variant Delta sparked new mobility restrictions around the world. Brent crude futures fell 35 cents, or 0.5%, to $74.33 a barrel by 0706 GMT, after slumping 2% …

The rise of cryptocurrencies has prompted interest from central banks to create digital currencies. A recent survey conducted by the Bank for International Settlements revealed that almost every central bank has considered issuing a digital currency. The Monetary Authority of Singapore (MAS), the International Monetary Fund, World Bank, and other …

China has made an appeal to the World Trade Organization (WTO) over historic duties introduced by Australia concerning three Chinese products as part of a crackdown on unfair trade practices, including dumping.

Oil prices rose on Wednesday, with Brent climbing above $76 a barrel to its highest since late 2018, after data showed US crude inventories declined as travel picks up.

OPEC+ is discussing a further easing of oil output cuts from August as oil prices rise on-demand recovery, but no decision had been taken yet on the exact volume to bring back to the market, two OPEC+ sources said on Tuesday.

The cryptocurrency market turned bearish on Monday after China asked several banks and payment firms to ramp up their crypto trading crackdown. Bitcoin tumbled nearly 10 percent on Tuesday – as low as $31,333, a two-week trough, dragging down other cryptocurrencies. Here are the prices of the ten largest cryptocurrencies, …

The global economy has surpassed its pre-pandemic peak, data survey firm IHS Markit said Monday, as the recovery accelerates thanks to vaccination and the end of pandemic-related restrictions.

The increasingly bullish sentiment in oil markets has several analysts predict $100 in 2022, but some think that prices could hit that level in 2021 already.

The UK government is dealing a blow to the country’s struggling steel industry in the name of Brexit and free trade, said Tory MPs in “red wall” seats, backed by the Labour party and steel industry leaders, on Saturday.

Wine tariffs imposed by Beijing doubled or tripled the price of Australian wine and made the Chinese market unviable for exporters. The Australian government said on Saturday it was lodging a formal complaint with the World Trade Organization about China’s imposition of anti-dumping duties on Australian wine exports, escalating further …

The price of the world’s major cryptocurrency, bitcoin, has pulled below the crucial $36,000 support level, amid global regulatory crackdowns and environmental concerns. The crypto was trading down more than 5% on Saturday, at $35,697 per coin. Its value has almost halved from April’s record peak of about $65,000 a …

Toyota Motor Corp’s shares reached a record high on Wednesday, earning a rare message of thanks from the company’s president at its annual general meeting (AGM). The share price of Japan’s no.1 carmaker exceeded 10,000 yen ($90.84) on Tuesday for the first time, as investors welcomed Toyota’s strong sales, electric …

Americans are becoming more comfortable meeting friends, returning to offices, and attending large events, as per a survey. Oil prices held near multi-year highs on Monday, underpinned by an improved outlook for demand as increased COVID-19 vaccinations help lift travel curbs. Brent crude was up 14 cents, or 0.2 percent, …

Iraq, OPEC’s second-biggest oil producer, said crude prices will be in the range of $68 to $75 a barrel in the second half. The price range is expected because of a commitment to OPEC+ output cut, Iraq’s Oil Minister Ihsan Abdul Jabbar told reporters at the Baghdad International Book Fair. …

Oil prices reached fresh multi-year highs on Friday, closing out a third straight week of gains on an improved outlook for worldwide demand as rising COVID-19 vaccination rates help lift pandemic curbs. Brent crude futures settled at $72.69 a barrel, rising 17 cents after reaching their highest since May 2019. …

The Central Bank of Iraq confirmed that the dollar exchange rate is stable and will remain unchanged. The Central Bank said in a statement that the price set at the end of 2020 for the dollar exchange rate was based on in-depth studies of the requirements of the economic and …

Japan’s influential trade ministry effectively colluded with Toshiba Corp’s management to influence shareholder’s votes on director nominees at last year’s annual general meeting, an independent probe has found. Discrediting the government’s efforts to improve corporate governance in Japan, the investigators’ report lays out how the Ministry of Economy, Trade, and …

China has arrested more than a thousand people for using the profits from crime to buy cryptocurrencies, security officials said, as part of a growing crackdown on the industry. The country’s bitcoin mines power nearly 80 percent of the global trade in cryptocurrencies, although trading in China is banned. Officials …

Details claiming to reveal how little income tax US billionaires pay have been leaked to a news website. ProPublica says it has seen the tax returns of some of the world’s richest people, including Jeff Bezos, Elon Musk, and Warren Buffett. The website alleges Amazon’s Mr. Bezos paid no tax …

India will need to spend an additional 800 billion rupees ($11 billion) to provide free vaccine and food to millions of people devastated by a deadly wave of coronavirus infections, Bloomberg News said on Tuesday. The government of the world’s second-most populous nation will earmark an additional 700 billion rupees …