Economy

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Most Asian markets track Wall St on tariff hope
Most Asian markets track Wall St on tariff hope
by  AFP

Equities mostly rose in Asia on Tuesday, extending Wall Street's rally on easing fears over Donald Trump's planned tariffs, while traders were also looking ahead to the release of key US inflation data. Eyes are also on the release this week of US personal consumption expenditure data, which is the Federal Reserve favoured inflation metric.

Crackdown on opposition tips Turkey into financial turbulence
Crackdown on opposition tips Turkey into financial turbulence
by  AFP

The arrest of Turkish President Recep Tayyip Erdogan's leading political opponent has sparked a financial firestorm and thrust the hardline leader's economic policies under scrutiny. He has spent two years trying to draw back investors who had turned away from Turkey due to political tensions and Erdogan's unorthodox monetary policy.

Hyundai announces new $21 billion investment in US manufacturing
Hyundai announces new $21 billion investment in US manufacturing
by  AFP

South Korean auto giant Hyundai on Monday announced a multi-billion-dollar investment in the United States, including a new $5.8 billion steel plant. Hyundai's announcement makes it the latest firm to announce plans to invest billions of dollars into the United States since Donald Trump's return to power in January.

Shakira concerts give multimillion-dollar boost to Mexico
Shakira concerts give multimillion-dollar boost to Mexico
by  AFP

Shakira fans flocking to see the Colombian star in concert are generating tens of millions of dollars for Mexico, according to the local chamber of commerce, underscoring the economic signicifance of major musical events.

Trump to impose sharp tariff on countries buying Venezuelan oil
Trump to impose sharp tariff on countries buying Venezuelan oil
by  AFP

US President Donald Trump announced Monday steep tariffs on imports from countries buying oil and gas from Venezuela, a punitive measure that could hit China and India, among others, and sow fresh global trade uncertainty. These could hit China and India, with experts noting that Venezuela exports oil to both those countries, as well as the United States and Spain.

UK targets spending cuts to mend public finances
UK targets spending cuts to mend public finances
by  AFP

Britain's Labour government will deliver a highly anticipated fiscal update on Wednesday, with finance minister Rachel Reeves expected to detail billions of pounds of spending cuts to address the country's struggling economy.