Global Economy
Oil prices fall, weekly 7% drop on China demand woes, mixed Mideast outlook
Brent crude futures fell $1.39, or 1.87 percent, to $73.06 a barrel. US West Texas Intermediate crude settled at$69.22 a barrel, down $1.45 or 2.05 percent
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
Eurozone inflation will ‘take some time’ to drop
EU chief Ursula von der Leyen said on Wednesday that inflation in the eurozone, which remains persistently high, will not quickly fall to the European Central Bank’s two-percent target.
Asia apparel hubs face $65 billion export hit from extreme weather: study
Extreme heat and flooding could erase USD65 billion in apparel export earnings from four Asian countries by 2030, as workers struggle under high temperatures and factories close, research from Schroders SDR.L and Cornell University showed today
German economic weakness belies France’s outperformance
Germany’s economic weakness is casting a flattering light on France’s relative resilience that belies the otherwise middling performance of the euro zone’s second-biggest economy, economists say.
Chinese firm to invest $12.2m at Adamjee EPZ
Chinese company Cherry Button Limited will invest $12.2 million to establish a garment accessories manufacturing factory at the Adamjee Export Processing Zone in Narayanganj.
Russian sellers stop fertiliser discounts to India
Russian companies have ceased offering fertiliser such as di-ammonium phosphate (DAP) to India at discounted prices due to tightening global supplies after becoming the biggest suppliers to the country last year, three industry sources told Reuters.
Oil prices spike on tight supplies and upbeat Opec
Oil prices jumped by about 1 percent on Tuesday, boosted by a tighter supply outlook and Opec optimism over the resilience of major economies in the face of rising interest rates.
UK unemployment rises to 4.3%
The UK unemployment rate edged higher to 4.3 percent in the three months to the end of July, as wage growth remained at a record high, official data showed Tuesday.
India’s retail inflation eases to 6.83% in August
India’s annual retail inflation eased to 6.83 percent in August from a 15-month high of 7.44 percent in July as food prices moderated, government data showed on Tuesday.
China says its economy is ‘resilient’
China’s economy is resilient and has not collapsed, the Chinese foreign ministry said on Tuesday, rejecting claims from the West that its economy is faltering and could cause wider problems.
Exclusive: Russian sellers stop fertiliser discounts to India
Russian companies have ceased offering fertiliser such as di-ammonium phosphate (DAP) to India at discounted prices due to tightening global supplies after becoming the biggest suppliers to the country last year, three industry sources told Reuters.