Global Economy
Gold sprints to record high in global market
Gold hit an all-time high on Thursday, steered by uncertainty surrounding the US election and expectations of more interest rate cuts by major central banks, while spotlight shifted to a slew of US data.
Japan’s exports fall for first time in 10 months
Japan’s exports fell for the first time in 10 months in September, data showed on Thursday, a worry for policymakers as any prolonged weakness in global demand may complicate the central bank’s path to exit years of ultra-easy monetary policy.
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
Vietnam eyes China model to seek index upgrade, boost investment
Vietnam is planning to relax its stock market settlement procedures for foreign investors, a critical measure to convince equity index managers to upgrade the country to emerging market status and attract hundreds of millions of dollars of new investment, sources said.
Oil dips as economic concerns offset Middle East supply worries
Oil fell for a fourth day on Wednesday as concerns about slowing European demand offset worries about Middle East supply disruptions stemming from the Israel-Hamas conflict in Gaza.
IMF concerned for loss of lives, economic slowdown from Mideast conflict, chief says
The Internatinal Monetary Fund (IMF) is concerned about the tragic loss of lives in the epicenter of the Israel-Gaza war and the destruction and reduction of economic activity, managing director Kristalina Georgieva said at an investment conference on Wednesday.
Bandwidth import from India surges
Bandwidth imports from India have surpassed that from submarine cables due to a surge in internet usage, India’s more attractive pricing and enhanced redundancy, and the saturation of Bangladesh’s existing undersea cables’ capacity.
Global industry could save $437b a year
Global industry could save around $437 billion a year from 2030 via energy efficiency savings and could also achieve big reductions in carbon emissions, a study showed.
Bitcoin soars to 18-month high
Bitcoin rose 6 percent on Tuesday to $35,198, its highest in nearly a year-and-a-half, on mounting speculation that an exchange-traded bitcoin fund is imminent.
UK labour market loses steam
Britain’s labour market lost a bit more of its inflationary heat in the three months to August, data from the Office for National Statistics (ONS) showed on Tuesday, potentially helping the Bank of England to keep interest rates on hold next week.
Oil prices broadly stable
Oil prices were broadly stable on Tuesday following the previous session’s dip after a flurry of economic data from Germany, the wider euro zone and Britain sketched a bearish picture which could weigh on oil demand.
Mideast war risks serious economic damage
The war between Israel and Hamas could deal a “serious” blow to global economic development, the president of the World Bank told an investor conference in Saudi Arabia on Tuesday.
Sri Lanka approves free tourist visa for seven countries
Tourists from China, India, Russia, Japan, Thailand, Indonesia, and Malaysia will be issued free visas till March 31, 2024