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."
UN chief says global finance system fragmenting; Myanmar crisis worsens
The world risks a "great fracture" of its economic and financial systems, UN Secretary-General António Guterres said on Thursday at a summit with Southeast Asia's ASEAN bloc, China, the United States and others in Indonesia.
India seeks more natural gas
India is seeking additional volumes of natural gas and has asked utilities to expedite completion of power plant maintenance, as part of emergency steps to stop electricity outages, according to a government note seen by Reuters.
Rupee weakens for third day
The Indian rupee weakened for a third straight session on Wednesday as elevated US Treasury yields and rising global crude oil prices weighed on the local unit.
Asian markets drop as oil spike fuels inflation worry
Most Asian markets fell Wednesday as a jump in oil prices to 10-month highs rekindled worries of another US Federal Reserve interest rate hike.
Russia to step up support for sagging rouble
Russia’s central bank announced Wednesday it plans to sharply step up support for the rouble, which has weakened considerably after 18 months of Western sanctions following Moscow’s military intervention in Ukraine.
US services sector gains steam
The US services sector unexpectedly gained steam in August, with new orders firming and businesses paying higher prices for inputs -- potential signs of still-elevated inflation pressures.
German factory orders plummet
German factory orders fell more than expected in July, official data showed Wednesday, in the latest setback for Europe’s largest economy as it grapples with an industrial slowdown.
Dollar steady, fragile yen draws warning
The dollar held near a six-month peak on Wednesday as jitters over China and global growth weighed on risk appetite, while the yen was close to a10-month low, drawing the strongest warning since mid-August from Japan’s top currency diplomat.
India’s palm oil imports set to jump
India’s palm oil imports are set to jump 26 percent to a record high in the 2022/23 year ending on October 31, as a recovery in consumption and competitive prices prompt refiners to increase purchases, the country’s top palm oil buyer told Reuters on Wednesday.
Saudi, Russia extend oil output cuts
Saudi Arabia and Russia said on Tuesday they would extend voluntary oil cuts until the end of the year, sending the price of Brent crude to a 10-month high.