The US has failed to make meaningful progress in fixing supply chain problems created by the coronavirus pandemic. Because of this problem, semiconductor shortages will persist until 2023, US Federal Reserve (Fed) chief Jerome Powell said on Wednesday. "Overall, we haven't made progress and...

South Korean electronics maker Samsung Electronics' net profit attributable to shareholders rose by half last year in annual terms to 39.244 trillion won (about $32.7 billion), the company said. Revenue for the period rose 18 percent to a record 279.605 trillion won ($233.4 billion), while...

The International Monetary Fund has revised down the growth expectations for the global economy: the forecast for 2022 has been lowered to 4.4% from the previous 4.9%; in contrast, the 2023 forecast has been improved to 3.8% from 3.6%; global GDP growth in 2021 is provisionally estimated at 5.9%,...

South Korea's economy grew by 4% in 2021, the highest in 11 years, the Bank of Korea said. "Real gross domestic product (a measure of aggregate GDP) grew by 1.1% in the fourth quarter of 2021 compared with the previous quarter. Real GDP increased by 4 per cent in 2021," the central bank said....

Large banks in the European Union will have to provide "pioneering" statistics starting in 2024 to illustrate how they support or hamper the climate goals of the block, according to the EU's banking watchdog.   The European Banking Authority (EBA) established environmental, social, and...

Interest rate hikes by the Federal Reserve could "throw cold water" on already sluggish economic recovery in some nations, according to Kristalina Georgieva, managing director of the International Monetary Fund.   Georgieva said a hike in US rates might have substantial ramifications for...

On Thursday night, bitcoin and ether prices plummeted, wiping out over $150 billion from the cryptocurrency market.   According to CoinDesk, Bitcoin has declined roughly 7 per cent in the previous 24 hours and has reached a low of $38,287. According to CoinDesk data, it was last trading at...

A day after Singapore’s first-ever SPAC, Vertex Technology Acquisition Corporation, started trading publicly on the city state’s exchange, a second blank check firm began doing the same on Friday.   Pegasus Asia's stock began Friday at $5.01 Singapore dollars, unchanged from the $5 Singapore...

According to the results of Reuters’ poll, the Bank of England will continue its tightening cycle next month as red-hot inflation remains well over the goal and the economic threat posed by the Omicron coronavirus variation should be less severe than prior mutations.   Last month, the Bank...