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Asian stocks rally as markets focus on more gradual pace of rate hikes

Economists are debating whether the world's biggest economy (US) is already in or on the verge of a recession, as it battles its highest inflation in four decades and gross domestic product shrinks

Bajaj Finance jumps by 10%; most in two years as profit tops estimates

Shares of Bajaj Finance on Thursday surged 10 per cent, the most in more than two years, after its quarterly profit blew past estimates on strong customer additions and lower bad loan provisions

Oil prices rise on tight supply as attention turns to OPEC+ meeting

Oil prices gained about $1 in early trade on Friday, lifted by supply concerns and a weaker US dollar as attention turns to what OPEC and allies including Russia agree at a meeting next week

L'Oreal bucks declining trend with Chinese sales growth in second qtr

Cosmetics group L'Oreal bucked a declining trend for the luxury and fashion industry in China with sales growing in the second quarter despite Covid-19 lockdowns

Twitter accepts October 17 trial but is concerned Musk will try to delay

Musk has said he needs time to complete a thorough investigation of what he says is Twitter's misrepresentation of fake accounts, which he said breached their deal terms

China targets $148 bn in financing for cash-strapped developers: Report

China's property sector has been lurching from one crisis to another for the past year

Shell smashes record again with $11.5-bn Q2 profit, announces $6-bn buyback

Refining margins triple in second quarter; strong gas and power trading lift profits

Pakistan central bank says FX reserves have fallen by $754 mn to $8.57 bn

"During the week ended on 22-Jul-2022, SBP's reserves decreased by US$ 754 million to US$ 8,575.1 million due to external debt and other payments," the central bank said

Billionaire Jack Ma plans to cede control of China's Ant Group: Report

Ant, an affiliate of Alibaba, has been subjected to a sweeping restructuring by China, whose initial public offering of $37 billion, was derailed by the country's regulators in late 2020

Wall Street gains on hopes of smaller rate hikes as economy shrinks again

US economy contracts again in second quarter; Meta Platforms revenue drops for first time; Qualcomm flags weak smartphone demand

Mastercard warns of inflation pinch after solid quarter for card issuers

Consumers across the globe have been showing signs of cracking in face of decades-high price pressures, with purchases at retailers including Walmart shifting away from big-ticket items to essentials

In call with Biden, Xi warns against 'playing with fire' over Taiwan

Chinese state media said Xi told Biden that the US should abide by the 'one-China principle' and stressed that China firmly opposed Taiwanese independence and interference of external forces

Mastercard Q2 profit jumps to $2.3 bn on rebound in cross-border spending

Mastercard Inc sailed past market estimates for quarterly profit on Thursday as a surge in cross-border spending sparked by this year's travel boom more than offset higher costs.

Dollar pares gains as US economic growth contracts for second quarter

The second straight quarterly decline in GDP meets the standard definition of a recession. It comes as the Fed aggressively hikes rates in an attempt to choke off soaring inflation.

Macron hosts Saudi crown prince with oil, Iran, human rights on agenda

French oppn figures and human rights groups have criticised Macron's decision to invite to dinner at the Elysee Palace a man Western leaders believe ordered the murder of a prominent Saudi journalist

Rupee sees biggest daily gain in two months post Fed chief's dovish remarks

By Swati Bhat

Oil extends gains as risk appetite improves, US inventories fall

By Julia Payne

Nestle raises growth outlook for '22, eyes consumer reaction to price hikes

Nestle warned on Thursday that price hikes could eventually weigh on sales volumes for the maker of Cheerios cereals, Kit Kat bars and Nescafe as it raised its full-year sales growth forecast to 7-8%

Gold price rises as Fed's Powell allays fears over large rate hikes

Spot gold was up 0.6% at $1,743.49 per ounce, as of 0711 GMT, its highest since July 13.

Global shares take breather after Fed rally, dollar retreats on yen

The U.S. Federal Reserve had surprised no one by lifting rates 75 basis points (bps) to 2.25%-2.50% on Wednesday, but did alter its statement to cite some softening in recent data.