Global Economy
Almost 40% of World Bank's recent climate funds unaccounted for: Oxfam
An Oxfam audit found that as much as $41 billion in climate finance could not be found "between the time projects were approved and when they closed."
ECB set to cut rates again as inflation cools
After cutting rates twice already this year, including at their last meeting in September, policymakers initially signalled a preference to wait until December to cut again
China to almost double support for unfinished housing projects
Housing minister Ni Hong said Beijing will "increase the credit scale of white-list projects to four trillion" yuan ($562 billion) by the end of the year
Chinese firm Jidalai to invest $5.85 million in Adamjee EPZ
The company will annually produce 70 million pieces of pullers of zippers
Why women risk losing out in shift to green jobs
Closing the gender gap in science, technology, engineering, and math would accelerate the green transition while making it more inclusive
'Age of Electricity' coming as fossil fuels set to peak: IEA
Demand for oil, gas and coal is still projected to peak by the end of the decade, possibly creating a surplus of fossil fuels, the IEA said in its annual World Energy Outlook
UK inflation hits three-year low, fuelling rate-cut hopes
The Consumer Prices Index (CPI) reached 1.7 percent last month, well below the BoE's two-percent target, after hitting 2.2 percent in August, the Office for National Statistics (ONS) said in a statement
China set to post slowest quarterly growth this year: analysts
Officials have in recent weeks unveiled a string of measures to reignite the world's number-two economy and bring an end to years of depressed business activity with an eye to achieving five percent annual growth
Huawei extends rebound
Chinese telecoms giant Huawei on Friday announced moderate sales growth for the first nine months of 2023, building on a recovery after its business was hit hard by US sanctions and the pandemic.
Australia ‘hopeful’ of EU trade deal
Australia’s trade minister says he is “hopeful” of striking a free trade deal with the European Union ahead of talks in Japan this weekend, more than five years after negotiations began.
US economy grows faster than expected
The US economy heated up more than expected in the third quarter, government data showed on Thursday, as a resilient job market helped boost consumer spending, holding off the prospect of a recession.
Dollar eases
The dollar edged down against a basket of currencies on Friday, pulled down by portfolio rebalancing, but was on track to end the week higher as fresh data reinforced the view the US economy remains on a firm footing.
China’s industrial profits extend gains
Profits at China’s industrial firms extended gains for a second month in September, adding to signs of a stabilising economy as the authorities launched a burst of supportive policy measures.
India moves to curb onion exports
It raises minimum export price of onion by four times to $800 a tonne
Bangladesh, Canada to work for higher bilateral trade
The fifth Bangladesh-Canada Foreign Office Consultations took place in Canada's Ottawa On October 27
Oil prices up 3% on worries about Middle East supplies
Oil prices climbed about 3 percent to a one-week high on Friday on worries that tensions in Israel and Gaza could spread into a wider conflict that could disrupt global crude supplies.
Dollar up
The US dollar rose to a near 1-week high against a basket of currencies on Wednesday, as investors’ appetite for riskier currencies faded following lacklustre corporate results that raised worries over the economic outlook, and as Treasury yields rose.
Oil price declines
Oil prices fell on Thursday after a rise in US crude stockpiles and a climb in the dollar index, giving up some ground gained a day earlier when prices jumped on fears of a broader conflict in the Middle East.