Global Economy
US unveils funding for chip industry firm in battleground Michigan
The latest $325 million in proposed funds under the CHIPS and Science Act -- a package of incentives to boost research and US semiconductor production -- goes towards polysilicon manufacturer Hemlock Semiconductor
Britain seeking EU trade reset: minister
Trade minister Douglas Alexander said Britain's 2016 vote to leave the EU caused "significant disruption" to its trade policy and the country needed to recalibrate its global trade outlook
As poor nations’ default wave peaks, cash shortage could take its place
The punishing post-Covid wave of sovereign defaults has finally crested, with the likes of Ghana, Sri Lanka and Zambia concluding years of painful debt reworks.
India's garment exports surge 17.3% in September amid Bangladesh crisis: report
The growth comes despite global challenges such as inflation and supply chain disruptions, which have impacted other major garment-exporting nations, the report states
IMF, World Bank meetings clouded by wars, slow economic growth, US election
The International Monetary Fund and World Bank annual meetings are scheduled to draw more than 10,000 people from finance ministries, central banks and civil society groups to discuss efforts to boost patchy global growth, deal with debt distress and finance the green energy transition
Oil prices steady after 7% weekly drop
Brent crude futures rose 8 cents, or 0.11 percent, to $73.14 a barrel by 0120 GMT
China's central bank cuts two key rates to boost economy
The cuts come just days after the country posted its slowest quarterly growth in a year and a half, underlining the deep economic woes the country faces.
As poor nations' default wave peaks, cash shortage could take its place
The issue, and what to do about it when western countries are increasingly loath to send money overseas, is a key topic at the IMF World Bank autumn meetings taking place in Washington, D.C. this week.
How much worse can China's economic slowdown get?
China's economic activity data for July, including retail sales, industrial output and investment failed to match expectations, fuelling concern over a deeper, longer-lasting slowdown in growth.
Russian central bank jacks up rates to 12% to support battered rouble
<B>Russia's central bank hiked its key interest rate by 350 basis points to 12 percent on Tuesday, an emergency move to try and halt the rouble's recent slide after a public call from the Kremlin for tighter monetary policy.</B>.The extraordinary rate meeting came after the rouble plummete
Oil nudges up as China cuts policy rates to support economy
Oil prices edged higher on Tuesday as China unexpectedly cut key policy rates for the second time in three months to shore up a sputtering economic recovery, but sluggish economic data from the country put a lid on gains.
China central bank unexpectedly cuts rates to support sputtering economy
China's central bank unexpectedly cut key policy rates for the second time in three months on Tuesday, in a fresh sign that the authorities are ramping up monetary easing efforts to boost a sputtering economic recovery.
Weak yen gives Japan’s automakers some relief
Japanese automakers are getting much-needed cover from an old standby, as the weaker yen helps prop up profits amid declining sales in China and the increasingly tough shift to electric vehicles.
India’s wholesale price index falls
India’s wholesale price index fell 1.36 percent year-on-year in July, but the decline was smaller than expected because of higher prices for food and some commodities.
Funds fret over fallout of Biden’s China order
Fund managers are worried the Biden administration’s move to restrict some outbound US investment to China will further fuel anti-Beijing sentiment in Washington and prompt more limitations.
Kremlin blames loose monetary policy
President Vladimir Putin’s economic adviser rebuked the central bank on Monday as the rouble slid past 101 per US dollar, blaming its 30 percent year-to-date slump on loose monetary policy and revealing growing discord among Russia’s monetary authorities.
A reminder of regime shift for govt debt
Financial markets barely flinched when Fitch stripped the United States of its top credit rating, but it served as a reminder of longer-term structural risks investors in government bonds are yet to grasp.
India’s trade deficit stood at $20b in July
India’s merchandise trade deficit in July stood at $20.67 billion, according to a Reuters calculation based on export and import data released by the government on Monday.