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.
UK employers plan 5% pay hike
British employers expect to raise pay by 5 percent over the coming year and are increasingly making counteroffers to keep staff who are tempted by higher wages from rival firms, according to a survey which added to signs of inflationary heat in the job market.
Oil falls as firm dollar, China economy counter 7-week rally
Oil prices eased on Monday as concerns about China's faltering economic recovery and a stronger dollar weighed against seven weeks of gains on tightening supply from OPEC+ output cuts.
Money market funds draw robust inflow
Global money market funds attracted robust inflows in the week to August 9, reflecting investor caution ahead of US inflation readings and as Chinese economic data remained weak.
Dollar gains
The dollar rose on Friday after a slightly bigger increase in US producer prices in July lifted Treasury yields higher even as speculation grows that the Federal Reserve is at the end of hiking interest rates.
US investors flag retaliation risks after Biden’s China tech curbs
While the market mostly shrugged off President Joe Biden’s move to prohibit some US technology investments in China, US investors said they were worried Beijing would retaliate or pull back from buying American technology.
India’s industrial output growth falls
India’s industrial output growth rate slipped to a three-month low of 3.7 percent year-on-year in June, data from the Ministry of Statistics showed on Friday.
China issues guidelines to increase foreign investment
China’s State Council issued guidelines on Sunday that it said would further optimise the country’s foreign investment environment and attract more foreign investment.
Crypto investors’ wallets at risk of attacks: study
Millions of retail and institutional cryptocurrency investors face the risk of funds being drained from their digital asset wallets without their knowledge because of new security flaws, a study has found.
S Korean firm to invest $8.62 million in Bepza economic zone
Dongwoo BD Ltd will produce PU synthetic leather
