Temu-owner PDD Holdings reports 47% drop in Q1 net profit
The company attributes the weaker performance to a lower-than-expected operating margin
China regulator summons automakers to discuss ‘zero-mileage’ used car sales
Other participants invited to the meeting include the associations of China's automobile manufacturers and dealers
Oil prices dip 1% on supply concerns ahead of OPEC+ meeting
Brent crude ends one percent lower at $64.09 per barrel, while WTI slips 1.04 percent to $60.89
ADB sets record with 58 private sector deals in 2024
Total commitments, including programs, projects, and cofinancing, surge to an unprecedented $8 billion
India approves stealth fighter programme amid tensions with Pakistan
State-run Aeronautical Development Agency will shortly invite initial iterest from defence firms for developing prototype of twin-engine 5th generation warplane
Trump says U.S. will retain control in $14 billion U.S. Steel–Nippon deal
Despite partial foreign ownership, former president insists U.S. oversight remains intact as Nippon Steel commits to major investment and job creation.
Indonesia unlocks $4.84 billion in banking liquidity with reserve cut
Bank Indonesia slashes secondary reserve requirement to 4% and raises foreign funding cap to spur economic growth and loan expansion
India’s Supreme Court halts liquidation of Bhushan Power, giving JSW Steel room to appeal takeover block
The top court pauses NCLT proceedings as JSW Steel and creditors prepare review petition after $2.3 billion acquisition was nullified
Apple-linked Chinese stocks slump after Trump’s new iPhone tariff threat
Fresh U.S. tariff warnings targeting imported iPhones spook investors, hitting major Chinese Apple suppliers as production shift plans to India accelerate
Trump Media to raise $3 billion to spend on cryptocurrencies
The company aims to secure $2 billion in new equity funding and $1 billion through a convertible bond.
Euro hits one-month high after Trump delays EU tariffs
Euro reaches $1.1418, its highest since April 29, before easing to $1.1375, while Sterling climbs to $1.356, its strongest since Feb 2022
Putin says services like Microsoft, Zoom should be ‘throttled’ in Russia
Putin says it was important for Russia to develop domestic software solutions
France and Vietnam sign $10 billion in deals during Macron’s visit
Macron highlights stronger France-Vietnam ties, including defence and space cooperation
Lagarde says euro could become the dollar’s alternative
Euro must earn global influence, with the dollar still holding 58% of reserves versus the euro's 20%, says European Central Bank President
Russia’s Economic Minister expects central bank to factor inflation slowdown into decisions
Central bank keeps key rate at 21% since October amid inflation concerns