Chinese e-commerce giants Alibaba and JD.com highlighted the growing challenge of attracting budget-minded consumers in their quarterly reports released Thursday, reflecting broader trends in China’s consumer market.   Shift in Consumer Preferences   Both Alibaba and JD.com faced...

Foxconn, the world’s largest contract electronics manufacturer, reported a better-than-expected 6% increase in quarterly net profit, fueled by surging demand for artificial intelligence (AI) servers. The Taiwanese company, formally known as Hon Hai Precision Industry Co Ltd, emphasized its strong...

The Federal Reserve is increasingly expected to cut interest rates next month, as the latest data shows a moderate rise in U.S. consumer prices for July and the smallest annual increase in inflation since early 2021. This development allows the central bank to shift its focus more towards the labor...

India's influence on the MSCI Global Standard index, a key tracker of emerging market stocks, has reached a new high, setting the stage for substantial inflows into its equity markets. The latest adjustments in the index will likely attract around $3 billion into Indian markets, as the country's...

Despite stringent sanctions from the U.S. and EU following its invasion of Ukraine, Russia has successfully imported around $2.3 billion in dollar and euro banknotes since March 2022, according to customs data reviewed by Reuters. These figures highlight Russia's ability to bypass sanctions aimed...

China's evolving energy landscape is presenting a complex picture, with shifts in oil demand and surging electricity use highlighting the country's transition toward cleaner power sources. Despite recent concerns over slower oil consumption, China's electricity generation and liquefied natural gas...

Uttar Pradesh, India's most populous state and a significant player in the automotive market, has decided to uphold its recent policy of waiving registration taxes for hybrid cars, a move that benefits Toyota but poses challenges for domestic automakers Tata Motors and Mahindra & Mahindra....

Leasing companies in Europe are grappling with soaring costs for electric vehicle (EV) leases, driven by low resale values and changing market conditions. Industry executives warn that the sector may face significant upheaval if regulatory pressures to transition to electric cars too swiftly...

Record numbers of New Zealanders are leaving the country, driven by rising unemployment, high interest rates, and sluggish economic growth, according to new government data. Statistics New Zealand reported on Tuesday that 131,200 people departed in the year ending June 2024, marking the highest...

According to a finance ministry official on Thursday, India would not join a worldwide corporate tax agreement targeted at extremely profitable multinational corporations unless its reservations about dispute resolution and the handling of withholding tax are resolved.   The "Pillar 1"...