The South Korean authorities will release 3.17 million barrels from the state's oil reserves from next month to help stabilise fuel prices, KBS television reported, citing a government decision. According to the channel, the decision was taken on Thursday after the government consulted with local...

Nureddin Nebati, Turkey's Treasury and Finance Minister, has proposed new restrictions governing Turkish lira deposits indexed in foreign currencies, in order to protect the country's citizens from exchange rate volatility. The Turkish Central Bank will publish the exchange rate daily at 11:00 a.m....

China's lending benchmark credit prime rate (LPR) was slashed for the very first time in 20 months on Monday, in an effort to boost development in the stagnating economy. However, the economy's highly leveraged housing industry remains a concern.   The one-year LPR was cut by...

Saudi Arabia may lose credibility if it continues to alter the goal posts in terms of the amount of foreign investment it needs to realise its vision of a future beyond oil, according to financial sources and analysts.   Foreign direct investment (FDI) has fallen far short of objectives five...

Since the outbreak of the pandemic, DIY investing has exploded. This has caused traditional asset managers and banks in Britain to scramble to build or buy online platforms that allow consumers to have more control over their investment portfolios.   The'meme stock' frenzy, which saw...

US sportswear manufacturer Nike has acquired virtual sneakers and collectibles maker RTFKT, according to a company press release. "Nike, Inc. today announced the acquisition of RTFKT, a leading brand that uses cutting-edge innovation to create next-generation collectibles," the statement said. The...

A research published recently indicated that billionaires' proportion of family wealth increased by a record amount during the epidemic, with millionaires also benefiting from Covid-19.   According to the World Inequality Report, created by a network of social scientists, billionaires...

International rating agency Fitch Ratings downgraded its global GDP growth forecast for the year to 5.7% from the 6% forecast in September, the agency said in its December global economic outlook. Fitch Ratings: Credit Ratings & Analysis For Financial Marketshttps://www."We have lowered the...

Despite the rapid development of renewable energy sources, oil and gas will remain the world's primary sources of energy until 2045, with their proportion of the global energy mix remaining at more than 50%, according to OPEC Secretary General Mohammed Barkindo. "Some argue that oil and gas should...