Global Economy
China posts slowest growth in over a year
China posted its slowest growth in a year and a half on Friday, underlining the deep economic woes the country faces as its central bank launched a new bid to boost markets and hinted at a further rate cut in coming months.
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."
India makes clean energy push at G20 with global biofuel alliance
India announced on Saturday the launch of a global biofuel alliance at a G20 summit in New Delhi to boost the use of cleaner fuels.
Rough sea delays Pangaon Express’s salvation
The container vessel sank on July 6 in the bay near Noakhali’s Bhasanchar
Oil prices rise to 9-month high on worries about tight supply
Oil prices gained almost 1 percent to a nine-month high on Friday on rising US diesel futures and worries about tight oil supplies after Saudi Arabia and Russia extended supply cuts this week.
Why Chinese response is not working
Data from China on Thursday showing falling exports fanned more fears about a slowdown in the world’s second-biggest economy, which has struggled with its post-Covid recovery.
Brazil to pass US as world’s top corn exporter
Brazil is set to pass the United States this year as the world’s top corn exporter, ending years of US dominance thanks to a bumper harvest, officials said Wednesday.
German industrial output dips again
German industrial production fell for a third straight month in July, official data showed Thursday, adding to fears of a prolonged downturn in Europe’s largest economy.
Eurozone inflation stagnates
Eurozone inflation remained unchanged in August, official data showed Thursday, leaving the European Central Bank faced with a conundrum over whether to continue hiking interest rates amid fears of a deepening economic downturn.
China’s economic gloom hangs over Japan’s long-awaited recovery
Policymakers in Tokyo believe China’s deepening economic woes could hit Japan’s fragile recovery, especially if Beijing fails to shore up demand with meaningful stimulus, potentially delaying an exit from ultra-loose monetary policy.
China exports, imports fall again
China’s exports and imports sank again in August, data showed Thursday, adding to growing pressure on authorities to introduce fresh stimulus for the world’s number two economy even as the figures showed some sign of improvement.
Summit Chairman Aziz Khan now 41st richest man in Singapore: Forbes
Muhammed Aziz Khan, chairman of Summit Group, was named the 41st richest man in Singapore this year, moving one notch up from the last year’s position on the list of Forbes’ 50 richest men.