South Korea exports fall for sixth month, worse than expected

SEOUL: South Korea’s exports in May fell more than expected and for a sixth consecutive month from a year earlier, official data showed on Saturday, as expanding trade friction between the major economies darkened the prospects. Overseas sales dropped 9.4 per cent in May from a year earlier, trade ministry data showed, worse than a median […]

Sri Lanka cuts rates to boost economy after Easter attacks

COLOMBO. Sri Lanka’s central bank cut its main lending rate Friday in a bid to revive the island’s economy, which was battered by the Easter suicide bombings that killed 258 people. The Central Bank of Sri Lanka said the rate at which it lent to commercial banks was reduced by 50 basis points to 8.5 […]

China raises tariffs on US goods amid escalating tensions

BEIJING: China on Saturday increased tariffs on billions worth of US goods as it prepares to unveil a blacklist of “unreliable” foreign companies that analysts say aims to punish US and foreign firms cutting off supplies to telecoms giant Huawei. Beijing’s move hits $60 billion (Dh220 billion) worth of US goods with new punitive tariffs […]