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
India could sell more wheat in open market
The Indian government could sell more wheat in the open market to control prices that have reached their highest in nearly eight months, the country’s food secretary said on Monday.
Malaysia boosts exports of palm oil to China
Malaysia will increase palm oil exports to China by 500,000 tons a year as it faces pressure from new European Union restrictions targeting deforestation, a senior minister told AFP on Monday.
Will Bangladesh benefit from trade in rouble?
Russia has included Bangladesh on its list of friendly and neutral countries, a development that would allow its local banks and brokers to settle trade transactions in the rouble.
Oil ends week lower
Oil prices held steady on Friday but closed the week lower on profit-taking and as markets weighed supply concerns stemming from Russia’s fuel export ban against demand woes from future rate hikes.
Dollar up against major currencies
The US dollar advanced against a basket of currencies on Friday as the latest batch of data on business activity from around the globe highlighted the superior position of the United States relative to other major economies.
Toyota to speed up EV production
Toyota Motor will speed up production of electric vehicles of its Toyota and luxury Lexus brands, the Nikkei newspaper reported on Friday.
Malaysia’s medical tourism sector alive and well
Medical tourists are returning to Malaysia in full force and are expected to surpass the pre-Covid-19 pandemic level in 2019 thanks to the reopening of borders, quality healthcare and competitive pricing.
Fed official calls for more rate hikes
The US Federal Reserve has more work to do to tackle high inflation despite making “considerable” progress in the last 18 months, a senior bank official said Friday.
UK consumers most optimistic since early 2022
British consumers are their most optimistic since the start of 2022 as they turn more hopeful about the economy with inflation on the wane and wages growing, a survey showed on Friday.
China seeks energy partnership with Arab states
China is willing to work with Arab states to build a strategic energy partnership featuring mutual benefits and long-term friendship and explore the possibility of a renminbi settlement for oil and gas trade, a senior Chinese official said on Thursday during the sixth China-Arab States Expo.