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Gautam Adani becomes world's third-richest person, first Asian to do so

It's the first time an Asian person has broken into the top three of the Bloomberg Billionaires Index -- fellow citizen Mukesh Ambani and China's Jack Ma never made it that far

More UK energy aid to come under incoming leader, says Nadhim Zahawi

Zahawi's remarks come as economic headwinds build against the UK, with the Bank of England predicting a recession lasting more than a year amid surging inflation

China bad debt managers see earnings tank on deepening property losses

China's distressed-debt managers have been in turmoil as aggressive lending to embattled developers and unchecked expansion into other areas has beset the $730 billion funds with heavy credit losses

Economy faces resilience test as policymakers prioritise prices over growth

Gross domestic product is estimated to rise 15.4% in the three months to June from a year ago, according to a Bloomberg survey

China's growth prospects weaken as economists cut 2023 forecasts

Growth projections for the first three quarters of next year were also lowered -- by 0.1-0.4 percentage points -- although the median for the whole of 2023 remained unchanged at 5.2%

Buy commodities, worry about recession later, says Goldman Sachs

Goldman Sachs did caution the path ahead may not be smooth, especially if the greenback extends gains

Bitcoin hovers around $20k as Fed chief's hawkish comments weigh on crypto

The largest token fell as much as 2.3% on Monday to $19,527, the fifth day of declines

WhatsApp rolls out in-app shopping product with JioMart. Check details

The new feature lets users in India shop for products from JioMart, and pay for them directly within the app

Govt working to avoid panic over rice with targeted curbs on export

India accounts for 40% of the global rice trade so any change in its export policy has huge implications for the billions of people who depend on the staple

Mukesh Ambani's Reliance Industries buys Dubai's costliest home ever

The family has been increasing its real estate footprint overseas, with all three siblings looking Westward for second homes, one of the people said

Iran may drain offshore crude oil cache if nuclear agreement reached

About 93 million barrels of Iranian crude and condensate are currently stored on vessels in the Persian Gulf, off Singapore and near China

China steps up measures to wipe out Covid-19 as political summit looms

China is enforcing lockdown restrictions in areas around Beijing more intensively, and will mass test the nearby port city of Tianjin

'Inflation fever' finally breaking but central banks won't stop rate hikes

As economic growth slows, prices for key raw materials - from oil to copper and wheat - have cooled in recent weeks, taking pressure off the cost of manufactured goods and food

Donald Trump may get a 'special master' review of documents seized by FBI

Federal agents are investigating missing White House records left with 20 boxes of documents, including 11 sets of classified material

Qatar gears up for FIFA WC tourism boom, to welcome over 1 mn football fans

Of the more than 90 new flights that will land each day in the host city, Doha, about 40 will leave from the UAE

Energy crisis tearing through global stock markets leaves a trail of losers

The inflation surge has also prompted an aggressive response from the world's major central banks

Pakistan set to dodge short-term default; political turmoil grows

Pakistan needs financial help to deal with "overwhelming" floods, its foreign minister said, adding that he hoped financial institutions such as the IMF would take the economic fallout into account

Global central bankers follow US Fed Chair to give hawkish message

The heads of the Bank of England, Swiss National Bank, Bank of Japan, Bank of Korea and several European Central Bank policy makers spoke on Saturday at the Kansas City Fed's annual retreat

Powell's 8-min speech at Jackson Hole erases $78 bn from richest Americans

US central bank will keep raising interest rates and probably leave them elevated for a while to reduce inflation

Divide emerges between retail, pros on how to play Ether upgrade

Ethereum recently completed its last test before the upgrade, and developers said the main event should take place next month