Browsing: Business
Egypt core inflation eased to 11.2% year on year in January, while headline inflation slipped to 10.1% and monthly CPI rose 1.5%, official data showed in Cairo.
Spot gold climbed to near $5,078 holding above $5,000 an ounce, as a weaker U.S. dollar lifted demand and China’s central bank reported higher January holdings.
China sold over 11 million electric cars in 2024, helping cap gasoline demand, and weakening prices for discounted Venezuelan crude in Chinese refineries today.
China expands yuan settlement via CIPS and mBridge as Shanghai opens a digital yuan center while IMF and SWIFT data show the dollar leads reserves and payments.
South Korea inflation slows as January CPI rises 2.0% y/y, with core inflation at 2.0% and transport costs falling, official data shows after 2.3% in Dec. 2025.
Canada and India are preparing a 10 year uranium supply deal near C$2.8 billion with talks tied to civil nuclear rules in force since 2013, for a March signing.
India’s 2026 budget proposes zero tax through 2047 for foreign cloud firms running global AI workloads on Indian data centres, with reseller rules, for exports.
Gold slid from record highs and silver sank in a rapid unwind of leveraged bets, with dollar strength and higher collateral demands tightening market conditions.
World Bank Group to provide India, USD 8 to 10 billion yearly for five years under a new partnership framework aimed at private jobs, skills, and cleaner growth.
Silver suffered its worst day since 1980, plunging about 30%, as gold tumbled after Donald Trump said he would nominate Kevin Warsh to lead the Fed.