Global Economy
Russia, Ukraine swap 190 POWs
Russia said yesterday that it had swapped 95 Ukrainian soldiers held captive for an equal number of Russian troops in an exchange deal brokered by the United Arab Emirates.
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
Japan’s exports extend declines
Japan’s exports fell in August for a second straight month, weighed by declines in China’s demand for steel and heavy oil and stoking fears of a downturn in the face of elevated global interest rates.
China’s property crisis weighs on growth outlook
Economic growth in developing Asia this year will be slightly lower than previously expected as the weakness in China’s property sector and El Niño-related risks cloud regional prospects, the Asian Development Bank (ADB) said on Wednesday.
UK inflation drops to 18-month low
British inflation unexpectedly slowed in August, data showed Wednesday, hitting an 18-month low and sparking hope this week’s widely-forecast interest rate hike by the Bank of England could be its last for now.
Germany weighs curbs on Huawei
Germany’s interior ministry is planning to force telecoms operators to slash their use of equipment from China’s Huawei and ZTE, a government official said, prompting an angry response from operators who warned of likely disruption and legal action.
79 firms to export 3,950 tonnes hilsa to India
The permission will remain in place until October 30
Erdogan asks Musk to build Tesla factory in Turkey
Turkish President Tayyip Erdogan asked Tesla CEO Elon Musk to build a Tesla factory in Turkey, the country’s communications directorate said on Monday.
EU risks depending on China for batteries
The European Union could become as dependent on China for lithium-ion batteries and fuel cells by 2030 as it was on Russia for energy before the war in Ukraine unless it takes strong measures, a paper prepared for EU leaders said.
Fed to hold rates steady
The US Federal Reserve kicked off a two-day policy meeting on Tuesday with officials widely expected to keep interest rates on hold for now, but also flagging in new economic projections whether they feel rates still need to rise further before the end of the year.
Chinese travel demand back
Demand for foreign travel in China has reached its highest level in two years, the organisers of the ITB travel conference said on Tuesday citing a survey in which some 80 percent of respondents said they planned to travel abroad in the next 12 months.
US jobs market solid
The US labor market is remarkably solid despite aggressive interest rate hikes to fight inflation and a recent rise in unemployment, but analysts warn that the central bank risks pushing too far.