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Companies in India use the UAE dirham, the HK dollar, yuan or euro when buying Russian coal, in a bid to avoid the dollar and US sanctions, according to customs data and industry sources
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Daily roundup of the best New Economy stories from other media
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With billionaire Ma giving up control of Ant, any potential revival of its IPO may be pushed back by a year or more, the WSJ reported.
Elon Musk has confirmed selling $6.9 billion worth of shares in his car company, saying he is covering the risk that a US court forces him to takeover the social media platform.
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The AF Big Picture
Despite a moribund British economy and heavy corporate tax, Indian-owned tech firms are growing in the UK.
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MarketsChina Becomes World’s Second-Biggest Bitcoin Mining HubThe Bitcoin mining ban in China last year had collapsed its crypto markets. Despite that, the country has reemerged as a major bitcoin mining hub, according to research by the UK's University of Cambridge.
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TransportIn Numbers: The Economic Impact of Shanghai’s Covid LockdownsStrict Covid-curbs have put 26 million lives on hold in Shanghai - China's most important economic hub. The resulting supply chain disruptions and revenue losses will spell fresh economic trouble for China, and the world.
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MarketsIMF Flags Stagflation, Growth Risks For AsiaInflation in Asia is starting to pick up at a time China’s economic slowdown is adding to pressure on regional growth
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Transport InsightsWhy are Indian Electric Vehicles Catching Fire?The reason isn't just rising temperatures or battery quality but a lack of thermal-based safety precautions. The EV batteries are getting heated beyond 100 degrees, experts claim.
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