Business and Economy

Business and Economy Latest News

Chinese ride-hailing giant Didi hit with $1.2 bn fine
Chinese ride-hailing giant Didi hit with $1.2 bn fine
by  AFP

China has fined ride-hailing giant Didi 8 billion yuan ($1.2 billion), regulators announced Thursday, concluding a year-long investigation into alleged data security violations. The fine amounts to more than four percent of its $27.3 billion total revenue last year.

Bank of Japan sticks to easing, raises inflation forecast
Bank of Japan sticks to easing, raises inflation forecast
by  AFP

The Bank of Japan dug its heels in on its easy-money policies Thursday while raising its inflation forecast, even as other countries hike interest rates to tackle soaring prices. Prices are rising in Japan, and the BoJ raised its inflation forecast for fiscal 2022-23 to 2.3 percent, up from 1.9 percent in April, "due to rises in prices of such items as energy, food, and durable goods".

Asian markets fail to extend rally, focus turns to Europe
Asian markets fail to extend rally, focus turns to Europe
by  AFP

Asian investors on Thursday struggled to maintain momentum from the previous day's equity rally and keep up with another Wall Street advance as growth fears continue to haunt trading floors and sap risk sentiment. After Wednesday's bounce across Asian markets, uncertainty returned to trading floors.

Energy

Money

Industry

Technology

Economy