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UK economy slows as cost of living climbs: report
LONDON, May 24 (Xinhua) -- Growth of Britain's manufacturing and services sectors slowed to a 15-month low in May as the cost-of-living crisis hit customer demand, a report said on Tuesday.
Spain to spend 12.25 billion euros on microchip industry
MADRID (Reuters) - Spain's government has approved a plan to spend 12.25 billion euros ($13.12 billion) on the semiconductor and micro chip industry by 2027, Economy Minister Nadia Calvino said on Tuesday, including 9.3 billion euros to fund the building of plants.
Asia stocks skid with U.S. futures, euro holds gains
SYDNEY: Asian shares slid on Tuesday as relief at a rally on Wall Street was punctured by a retreat in U.S. stock futures, while the euro held near one-month highs as odds narrowed on a July rate rise from the ECB.
Tight material supply impedes Vietnam textile exports
HANOI (Vietnam News/Asia News Network): Although the demand for Vietnamese textiles is forecast to rise steadily in the short term, firms are concerned that tight material supply will impede their export plans.
Oil price settles nearly flat; recession worry vies with higher demand outlook
HOUSTON: Oil prices were little changed on Monday, settling just slightly higher as worries over a possible recession vied with an outlook for higher fuel demand with the upcoming U.S. summer driving season and Shanghai's plans to reopen after a two-month coronavirus lockdown.
Indian vaccine giant Serum plans African plant in global expansion
DAVOS, Switzerland (Reuters) - The Serum Institute of India (SII), the world's biggest vaccine maker, is considering setting up its first manufacturing plant in Africa as it looks to expand globally after its success in selling COVID-19 shots, its CEO told Reuters on Monday.
China to take steps to stabilize economic activity, bring economy back to normal track
BEIJING, May 23 (Xinhua) -- China will adopt a package of measures to stabilize economic performance, in an effort to get the economy back to normal track and keep major economic indicators within an appropriate range, according to a decision made at the recent State Council's Executive Meeting chaired by Premier Li Keqiang.
IOI Corp projected for a better quarter
PETALING JAYA: IOI Corp Bhd’s outlook looks promising due to the seasonal recovery in production of palm oil along with Indonesia’s lift of its 25 days palm oil exports ban.
US unveils 13-nation economic pact to assert Asia leadership; seven South-East Asian countries included
The Biden administration announced that a dozen Indo-Pacific countries will join the US in a sweeping economic initiative designed to counter China’s influence in the region, even as questions remain about its effectiveness.
