Global Economy
China posts slowest growth in over a year as property woes drag
The economy expanded 4.6 percent year-on-year in the third quarter, down from 4.7 in the previous three months and the slowest since early 2023
US budget deficit widens to $1.8 tn, third highest on record
This year marks the third highest US deficit, behind 2021 and 2020, according to the Treasury
IMF board approves $1.1 billion disbursal for Ukraine
The loan disbursal is the latest tranche of funding the International Monetary Fund has released to Ukraine as part of an ongoing 4-year, $15.5 billion program approved last March.
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
Canadian dollar posts big gain
The Canadian dollar weakened against its US counterpart on Friday, but the currency held on to much of its weekly gain as oil prices rose and investors turned attention to domestic inflation data.
Fed unlikely to pause rate hikes
The US Federal Reserve is widely expected to hold interest rates steady on Wednesday after a summer of mixed economic data, while leaving the door open to another hike if needed.
Sri Lanka’s economy shrinks 3.1% in Q2
Sri Lanka’s economy shrank 3.1 percent in the April-June quarter, official data showed on Friday, as the country struggles to claw out of its worst financial crisis in decades.
JP Morgan, ANZ raise China GDP forecast
JP Morgan and ANZ on Friday raised their 2023 economic growth forecast for China, after August economic numbers offered some signs of stabilisation in the world’s second-largest economy.
US renewable energy capacity could triple in 10 years
United States’ annual renewable energy capacity could triple in 10 years to 110 gigawatts (GW) as clean-energy law powers more investment in the sector, research and consultancy firm Wood Mackenzine said on Wednesday.
Eskayef’s 3rd manufacturing unit achieves US FDA approval
It's the first Bangladeshi pharma company to reach the landmark
Western firms shift investment from China to India as worries mount
US and European firms are shifting investment away from China to other developing markets, a report from Rhodium Group showed, with India receiving the vast majority of this redirected foreign capital, followed by Mexico, Vietnam and Malaysia.
Britain hands $621 mln to Tata Steel, 3,000 jobs could go
Britain is to pump 500 million pounds ($621 million) into Tata Steel (TISC.NS) to decarbonise its Welsh site, in a deal aimed at securing the future of the country's steel industry but which puts as many as 3,000 jobs at risk.
Fed unlikely to raise rates in November, says Goldman Sachs
The Federal Reserve is unlikely to raise interest rates at its Oct. 31-Nov. 1 meeting, Goldman Sachs strategists wrote on Saturday, while also forecasting the US central bank would lift its economic growth projections when policymakers gather next week.
Toyota expects record sales in India
Toyota Motor Corp is on track for record annual sales in India, a senior executive told Reuters, as its partnership with Suzuki Motor, which has a portfolio of affordable cars, attracts a new set of buyers.