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The Reserve Bank of Australia (RBA) on Tuesday raised its benchmark rate by 25 basis points to 3.1%. RBA Governor Philip Lowe cited persistently high inflation of 6.9% as the main reason for the hike. The central bank’s target inflation level lies be...

The Organization of the Petroleum Exporting Countries (OPEC) and its allies will continue with their existing policy of carefully managing oil output. Sunday’s announcement came at the same time as new Western sanctions on Russian crude exports becam...

US consumer spending rose strongly in October while inflation settled, giving the economy a lift at the start of the fourth quarter as it squares up to headwinds from the Federal Reserve’s decisive monetary policy tightening. Meanwhile, the labor mar...

India has posted annual economic growth of 6.3% in its July-September quarter, less than half the 13.5% growth in the previous three months, as the economy takes its post-pandemic shape.GDP growth for the full fiscal year, which ends on March 31, is...

China’s factory activity slid in November for a second consecutive month, underlining the economic toll of the country’s punitive “Zero COVID” policies that have sparked mass protests in the country.China’s Purchasing Managers’ Index (PMI) dropped to...

It is the type of development crypto insiders were hoping would not happen with crypto in so much trouble. Major cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy protection along with eight affiliates.It is the latest crypto casualty...

China’s main stock indices and its currency opened the trading week lower on Monday, after significant protests against the country’s harsh COVID-19 restrictions shook investors.The benchmark Shanghai Composite fell 2.2% in early trading. The Shenzhe...

The fall of crypto exchange FTX has led some people to wonder what it would take for the whole industry to collapse. The total market cap of cryptocurrencies is currently $820 billion. That is 70% below the peak of a year ago. When high-profile playe...

Bitcoin briefly slid to its lowest level in two years this week after rumors that Genesis, the prominent digital-asset brokerage and lender, could be forced to file for bankruptcy if its ongoingcapital-raising efforts failed.The price of bitcointumbl...

Malaysia’s stock market and national currency wobbled after an election resulted in the country’s first ever hung parliament. Parties must now form a coalition before an administrative deadline that expires in a few days, and thereafter must deal wit...

In the aftermath of the fall of cryptocurrency exchange FTX, lawmakers and regulators in the US have started to point fingers at each other over the demise of the once $32 billion crypto empire.This has resulted in bickering among various regulators....

UK finance minister Jeremy Hunt presented his much-awaited budget plan aimed at saving £55 billion. Taxes are set to rise for everybody. The definition of who qualifies as a top earner has been widened to include more taxpayers. It will now take £125...

Retail investors are flooding the debt markets, hoping to take advantage of some of the highest bond yields in more than a decade. The US Federal Reserve’s decisive monetary tightening has caused the 10-year treasury bond yield to hover around 4% aft...

Wholesale prices in the US climbed 8% in October from last year, the fourth straight decline and another sign that inflation pressures are waning from previously high levels.The annual wholesale inflation figure is a reduction from the 8.4% in Septem...

The London bourse has surrendered its post as Europe's most-valuable stock market, with France supplanting it. A weak pound and worries of recession in the UK are thought to be some of the factors behind the development.It is the first time that Pari...