Business / Stock Market

ADB cuts 2022 growth outlook for South Korean economy to 2.6% 22 Jul 2022 - 10:35 am

Manila: The Asian Development Bank (ADB) yesterday slashed its 2022 growth outlook for the South Korean economy to 2.6% amid the ongoing Ukraine...

PepsiCo boosts outlook as consumers keep buying despite inflation 12 Jul 2022 - 03:59 pm

PepsiCo Inc. raised its outlook for the second time in as many quarters, saying it expects revenue to grow 10% this year as...

Euro drops to 20-year low, approaches parity with dollar 12 Jul 2022 - 12:37 pm

Brettell NEW YORK: TheEuroslid to a 20-year low and came closer to parity against the dollar on Monday on concerns that an energy...

Bitcoin traces an ominous chart pattern evoking plunge in June 12 Jul 2022 - 10:17 am

The latest Bitcoin chart pattern suggests cryptocurrency speculators should brace for more losses. The largest digital token has traced a so-called rising wedge,...

Wall St Week Ahead: Recession? Soft landing? Stagflation? Investors assess economy's strength 10 Jul 2022 - 05:07 pm

NEW YORK: With a miserable first half for the stock market now in the history books, investors are assessing whether the US economy...

Kuwait Bourse closes lower 03 Jul 2022 - 01:45 pm

Kuwait Bourse closed down on Monday as the All Share Index lost 15.22 points to reach 7,162.7 points, a decrease of 0.21 percent....

Fear has gone missing in Wall Street’s slow-motion bear market 25 Jun 2022 - 08:27 pm

For all the pain that has piled up in the US stock market, one thing has been in surprisingly short supply: Fear. Virtually...

Bitcoin slides below $20,000 to lowest since December 2020 18 Jun 2022 - 06:41 pm

Bitcoin dropped below the $20,000 level on Saturday to its lowest point in 18 months, extending its slide as investors showed they were...

Small players lose faith in crypto after sell-off 17 May 2022 - 02:27 pm

Washington/Mumbai: Nofe Isah, a 25-year old based in Nigeria, has been investing in crypto since January. Last week, she lost all of her...

Election win for Philippines' Marcos shores up family-affiliated stocks 11 May 2022 - 03:30 pm

MANILA: Share prices of Philippine companies linked to presidential election winner Ferdinand Marcos Jr have surged this week, on what analysts said were...

Philippine stocks fall as traders weigh Marcos win, global rout 10 May 2022 - 08:49 am

The benchmark Philippine stock index slid amid a global selloff, as investors awaited Ferdinand Marcos Jr.’s economic policies following his landslide win in...

Gold extends slide as yields jump before wave of inflation data 09 May 2022 - 10:10 am

Gold extended its longest run of weekly losses this year as investors eyed rising Treasury yields -- and a stronger dollar -- ahead...

Gucci to start accepting crypto payments in some US stores 08 May 2022 - 12:29 pm

Gucciwill accept payments in cryptocurrencies in the U.S. starting this month, as the luxury industry takes tentative steps into the digital-asset universe. Customers...

Pfizer falls as Covid pill fails in preventive therapy trial 02 May 2022 - 05:22 pm

Pfizer Inc. slumped after Paxlovid, its pill for treating Covid-19, failed to show benefit as a preventive therapy in a trial. Paxlovid is...

Musk sells Tesla shares worth $8.5 bln ahead of Twitter takeover 29 Apr 2022 - 05:42 pm

Tesla Inc Chief Executive Officer Elon Musk sold $8.5 billion worth of shares in the electric vehicle maker, U.S. securities filings showed, in...

Unilever’s India arm beats profit estimate despite soaring costs 27 Apr 2022 - 02:02 pm

Hindustan Unilever Ltd., the Indian unit of the global consumer goods giant, posted quarterly profit that beat analyst expectations as price hikes and...

EU watchdog asks Valneva for more data on COVID shot, shares slump 25 Apr 2022 - 05:18 pm

PARIS: Valneva's shares tumbled on Monday after the French company said The European Medicines Agency (EMA) has asked for more data on its...

India's crypto exchanges block deposits via state-backed system, stir alarm 13 Apr 2022 - 09:27 am

New Delhi: Big Indian crypto exchanges CoinSwitch Kuber and WazirX have disabled rupee deposits for the purchase of cryptocurrency using a widely-used state-backed...