Earnings, economic data on the agenda

LONDON — European markets are set for a cautiously higher open on Friday as investors digest a fresh swathe of corporate earnings and await key economic data out of the euro zone. Britain’s FTSE 100 is seen around 16 points higher at 7,361, Germany’s DAX is set to add around 69 points to 13,351 and … Read more

Dollar strength is more worrisome than inflation for Asia, economist says

Exchange rate weakness in the face of a strong US dollar is a bigger concern for Asia than inflation, Taimur Baig, managing director at DBS Bank in Singapore, told CNBC on Thursday. “We’re not particularly worried about inflation driving policy, but exchange rate weakness, dollar liquidity drying up, those things [are] a bigger issue, [and … Read more

China’s Xi faces major economic challenges, says investor David Roche.

China’s President Xi Jinping waves following his speech after a ceremony to inaugurate the city’s new leader and government in Hong Kong on July 1, 2022, on the 25th anniversary of the city’s handover from Britain to China. Selim Chtayti | AFP | Getty Images President Xi Jinping will need to confront China’s several major … Read more

China’s property sales set for a worse plunge than in 2008, S&P says

Most apartments in China are sold before developers finish building them. Pictured here on June 18, 2022, are people selecting apartments at a development in Huai’an, Jiangsu province, near Shanghai. Future Publishing | Future Publishing | Getty Images BEIJING — China’s property sales are set to plunge this year by more than they did during … Read more

Australian BNPL company Zip to exit Singapore, deprioritize crypto offering

Zip Co Ltd and QuadPay displayed on a smartphone’s screen on June 10, 2020. Australian buy-now-pay-later company Zip said on Thursday it was weighing an impairment charge on its new US and European businesses, exiting Singapore and “deprioritizing” a cryptocurrency offering, citing challenging market conditions. Esra Hacioglu | Anadolu Agency | Getty Images Australian buy-now-pay-later … Read more

India’s IT giants pay CEOs millions despite software talent turnover

There is a wild mismatch between the salaries of the CEOs of Indian Information Technology companies and lower and mid-level employees, the latter seen here going about their business at the headquarters of India’s best-known technology company, Infosys Technologies Ltd. in Bangalore in a stock photo. Bloomberg | Bloomberg | Getty Images The chief executive … Read more

South Korea not worried about capital outflows for now: Finance minister

South Korea’s finance minister has shrugged off short-term risks of capital outflows from the Asian economy as gaps in global rates widen. Facebook Facebook logo Sign up for Facebook to connect with SeongJoon Cho Bloomberg | Getty Images South Korea’s finance minister has shrugged off short-term risks of capital outflows from the Asian economy as … Read more

Philippines inflation, weakening peso pressure central bank

The weakening of Philippine currency the peso combined with a current account deficit will make rising inflation a feature of the economy in fiscal year 2022, according to an expert. Jun Pinzon / Eyeem | Eyeem | Getty Images A weakening peso, a widening current account deficit and rising inflation will put pressure on the … Read more

Subsidies shield Malaysians from rising inflation, says economist

Malaysia is in an “enviable” position because fuel subsidies have shielded households from higher oil prices, according to an economist. “Even though we’re seeing this acceleration in inflation, and we’re going to see higher inflation going forward, particularly into the second half … households have in some way been shielded because of these fuel subsidies,” … Read more

How this former Lehman Brothers banker built a pandemic-proof business

Declan Ee always knew he wanted to run his own business. But when he graduated from University College London in 2006, he saw his peers applying for investment banks and decided to give it a try. His first gig? Lehman Brothers. “I liked seeing how businesses worked on a global scale. So that was very … Read more