BUSINESS

Turkey's central bank holds its key interest rate steady at 50 percent

Turkey Central Bank Holds Key Interest Rate Steady

Turkey's central bank held its key interest rate steady on Thursday but warned it could hike it again as the country's soaring inflation remains a headache for President Recep Tayyip Erdogan's government.
More news
Traders are keeping tabs on Tokyo after the yen hit a fresh 34-year low against the dollar

Asian Markets Mixed As Global Rally Stalls, Eyes On Yen

Asian equities were mixed Thursday as investors turned cautious after the past three days' sizeable gains, with Meta's warning that it will spend far more than expected this year fuelling worries that the latest tech-led rally may have gone too far.
Meta's growth is due in particular to its sophisticated advertising tools and the success of "Reels"

Meta Sees Profits Soar In First Quarter

Facebook-owner Meta on Wednesday said its quarterly profits soared last quarter as the company continues to see stellar ad growth across its family of world-leading social media apps.
US and other Western officials have voiced alarm over the popularity of TikTok with young people, alleging it allows Beijing to collect data and spy on users

TikTok To Fight US Ban Law In Courts

TikTok's CEO vowed Wednesday to fight in the courts to overturn a newly signed US law that could see the popular app banned due to allegations it is controlled by the China government.
TikTok Lite arrived in France and Spain in March allowing users aged 18 and over to earn points that can be exchanged for goods

TikTok Suspends Rewards Programme After EU Probe

TikTok on Wednesday announced the suspension of a feature in its spinoff TikTok Lite app in France and Spain that rewards users for watching and liking videos, after the European Union launched a probe.
Tony Fernandes bought AirAsia for a token one ringgitt after the September 11 attacks on the United States

Malaysian Airline Mogul Fernandes Delays Retirement

Malaysia's Tony Fernandes, one of Asia's most prominent entrepreneurs, has decided to extend his contract as chief executive of Capital A, the firm said Wednesday, after the board persuaded him to delay his planned retirement.
More beer was sold but the outlook remains hazy

Heineken Beer Sales Pop But Hazy Days Ahead

Dutch brewer Heineken said Wednesday its beer sales were up but saw a "challenging and uncertain" economic outlook and couldn't guarantee the same growth for the rest of the year.
ASML employs around 42,000 in the world

China, Future HQ: New ASML Boss Faces Bulging In-tray

Frenchman Christophe Fouquet takes the reins of Dutch chip giant ASML on Wednesday with a daunting to-do list, top of which will be steering business with China as semiconductors become a geopolitical battleground.
Critics allege TikTok is subservient to Beijing and a conduit to spread propaganda, claims that China and the company strongly deny

Bill To Ban TikTok In US Clears Congress

The US Senate on Tuesday approved legislation requiring the wildly popular social media app TikTok to be divested from its Chinese parent company ByteDance or be shut out of the American market.

Pages

IBT Spotlight

We Help Businesses Find B2B Service Providers They Can Trust.