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
China says to curb ‘disruption’ in currency market
China’s central bank said on Monday it would crack down on speculation that distorts the value of the yuan as the country’s currency sees persistent volatility.
Tesla jumps as analyst predicts $600b value boost
Tesla rallied 6 percent on Monday after Morgan Stanley said its Dojo supercomputer could power a near $600 billion surge in the electric-car maker’s market value by helping speed up its foray into robotaxis and software services.
IMF urges pact to boost its resource quota, strengthen world economy
It is vital to increase quota resources for the International Monetary Fund (IMF) before year-end, its chief, Kristalina Georgieva, said on Sunday, while urging members of the G20 bloc to deliver on a promise of $100 billion a year in climate funds.
EU cuts eurozone 2023 growth forecast
The European Commission cut its 2023 and 2024 eurozone economic growth forecasts on Monday, with the single currency area weighed down by Germany’s poor performance.
China’s economic headwinds could hit region: US
China’s economic problems are more likely to affect the region than the United States, US Deputy Treasury Secretary Wally Adeyemo said on Monday, a day after President Joe Biden called China’s economic situation a “crisis.”
European retailers risk dressing-down from investors as consumers flinch
European retailers have been unlikely stock market stars this year, but a long spell of high borrowing costs and inflation has started to bite, so wary investors will be looking for reassurances from the likes of H&M (HMb.ST) and Zara-owner Inditex (ITX.MC) when they issue business updates this week.
Oil prices ease but supply cuts keep Brent above $90/bbl
Oil prices eased on Monday as a stronger dollar and economic concerns in China weighed on fuel demand outlook although Brent held above $90 a barrel, supported by tightening supplies after Saudi Arabia and Russia extended supply cuts.
Govt to sign deal with Airbus for satellite
Bangladesh will sign a letter of intent with France to buy its second earth observation satellite, which will be engaged in non-military uses such as environmental monitoring, meteorology and cartography.
UK, Singapore partner to boost economic growth
The British government has signed a partnership with Singapore to grow its economy and enhance shared security, Downing Street said on Friday, adding it was the UK’s first treaty since leaving the European Union.
Dollar gains for 8th straight week
The US dollar index registered an eighth straight week of gains on Friday while global stock indexes ended slightly higher on the day ahead of key US inflation data next week.