Global Economy
China’s growth reprieve will be short-lived
China may be on track to hit its “around 5 percent” economic GDP target for this year, but repeating the feat will get harder for policymakers. Third quarter growth logged in at 4.6 percent year-on-year, and that pace will need sustaining if the People’s Republic is to achieve medium-level developed economy status by 2035. Unless planners move their own goalposts, they’ll have to contort themselves a lot more.
Analysis / Inflation is not dead, it’s just resting
Inflation in the United States picked up in the late 1960s in the wake of the Vietnam War and spending on President Lyndon Johnson’s “Great Society” set of social programs
New rules drive Japanese trucking sector to the brink
Since April, truck drivers' annual overtime has been capped at 960 hours, or 80 hours per month on average, alongside new rules including on break stops
Analysis / China's growth reprieve will be short-lived
The People's Bank of China, Ministry of Finance and other departments have at least announced enough stimulus measures to convince economists this year's performance will be on-target
Boeing and workers reach tentative deal to end strike
Boeing confirmed a tentative deal was reached and said it includes a 35 percent pay raise over four years and a one-time signing bonus of $7,000
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
China has no pain-free solutions for its slowing economy
Erin Yao would like to take street dance classes and travel, activities she could not do during three years of Covid-19 restrictions in China.
Rupee goes up marginally
The Indian rupee rose on Monday, but higher near-maturity US Treasury yields were expected to limit the upside for the currency.
Country Garden says its $100b Malaysia project on track
Embattled Chinese developer Country Garden said on Monday its $100-billion project in Malaysia was proceeding as planned and it had sufficient assets, despite concerns about its financial strength amid debt woes.
Dollar eases against euro
The dollar slid from a 12-week peak on Monday after Federal Reserve Chair Jerome Powell left open the possibility of further rate hikes, while the China-sensitive euro edged up in the wake of Beijing halving its stamp duty on stock trading.
Chinese EV maker BYD’s profit trebles
BYD, China’s leading electric carmaker, said on Monday its half-year net profit had tripled based on record demand.
Stable US-China economic relationship is crucial
US Commerce Secretary Gina Raimondo opened talks with Chinese government officials on Monday, saying it is “profoundly important” for the world’s two largest economies to have a stable economic relationship.
Will Bangladesh be affected by India's possible sugar export ban?
Sugar prices have risen globally over the last couple of months
Dollar wobbles as investors ponder 'higher for longer' rate path
The dollar eased from a 12-week peak on Monday as traders weighed the US monetary path after Fed Chair Jerome Powell left open the possibility of further interest rate increases, while the yen hovered close to its lowest in over nine months.
Oil marginally lower as global economic concerns loom
Oil prices were marginally lower on Monday as investors stayed fretful over the pace of economic growth in China, and the prospect of further US interest rate hikes that could dampen fuel demand.