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."
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.
Oil dips as markets shrug off supply jitters
Oil prices reversed course on Wednesday after rising over 1 percent in the previous session, on a firmer dollar and as investors shrugged off jitters arising from supply cuts from Saudi Arabia and Russia.
Dollar holds near 6-month peak on global growth fears
The dollar held close to a six-month peak as jitters over China and global growth weighed on risk appetite, while the yen strengthened as Japan's top currency diplomat sent a warning about the currency after it earlier dropped to a 10-month low.
Gold hits 1-week low
Gold slipped to a one-week low on Tuesday as investors sought the US dollar after weak data in China, although rising expectations for a pause in interest rate increases by the US Federal Reserve limited losses.
Oil price drops
Oil prices dipped on Tuesday as fresh data added to gloom over the state of China’s post-pandemic recovery, although expectations of an extension in supply cuts by leading Opec+ producers limited losses.
UNIDO launches project on circular economy value chains
The United Nations Industrial Development Organisation (UNIDO) yesterday launched a project titled “SWITCH to Circular Economy Value Chains (SWITCH2CE)” in Bangladesh to steer the textiles and garments sector toward sustainable circular practices.
Rupee weakens to nearly 2-week low
The Indian rupee closed weaker on Tuesday as the local unit slipped to the 83 level for the first time in nearly two weeks due to broad weakness in Asian currencies and likely dollar outflows.
Japan household spending suffers big drop
Japanese household spending suffered its biggest drop in nearly 2-1/2 years squeezed by rising prices, although volatility in some items meant the outlook might not be as gloomy as the headline figures suggested.
Russia upends global grain trade
Russia has cemented its position as the world’s top grain exporter with the help of a bumper harvest and cut-rate prices while its war in Ukraine has upended the market.