Global Economy
Boeing plans to launch effort to raise over $15 billion in capital as early as Monday, source says
The new capital is set to come from a mix of the sale of stock and convertible preferred shares, the source added, saying the total amount raised could rise based on demand.
Oil prices tumble as Iran fears ease, yen weakens after Japan polls
Oil prices fell as much as five percent in early trade before paring some of their losses
Ifad Autos exporting AC bus to Bhutan
Ifad Autos has become the first local automobile company to export airconditioned (AC) buses assembled in Bangladesh.
AIIB head criticises advanced nations for trade barriers
Asian Infrastructure Investment Bank (AIIB) President Jin Liqun on Saturday criticized advanced economies for creating trade barriers including for renewable energy goods, saying there was “no longer free trade” in the global economy.
Analysis / Biden's precise industrial policy may soon mutate
Two years into the US government’s attempt to lure manufacturing of semiconductors and renewable energy back home, the president’s top national security aide, Jake Sullivan, offered a defense of his boss’s major economic choices.
Indonesia bets on SE Asia's first battery plant to become EV hub
Hyundai said the new factory was a commitment to helping the archipelago become a supercharged Southeast Asian EV maker
China's second-generation factory owners go digital to combat challenges
Qiu has set up a marketing business that directly connects factories with foreign audiences, through videos posted on Instagram and TikTok, which in China can only be accessed using a VPN.
US consumer mood brightens, among Republicans in particular
US consumer sentiment climbed to a six-month high in October as declining interest rates helped improve buying conditions for big-ticket items like cars, but the uptick was most pronounced among Republicans who grew more confident in their party regaining the White House in the Nov. 5 presidential election.
Global economy’s ‘speed limit’ set to plunge
The global economy’s “speed limit”—the maximum long-term rate at which it can grow without sparking inflation—is set to slump to a three-decade low by 2030, a new World Bank report showed.
Rupee does better than peers
The Indian rupee rose against the US currency on Monday, helped by likely dollar inflows and healthier risk, traders said.
China’s industrial profits slump deepens
The slump in Chinese industrial firms’ profits deepened in the first two months of 2023, weighed by lacklustre demand and stubbornly high costs as the world’s second-largest economy struggled to fully shake the long-term effects of Covid.
US may enter recession this year
The United States will likely enter a recession this year and face high inflation well into 2024, a majority of economists predicted in their response to a semiannual survey.
HK maintains fourth place in Global Financial Centres Index
Hong Kong maintained fourth place globally in the Global Financial Centres Index (GFCI) 33 Report published on Thursday by the Z/Yen from the United Kingdom and the China Development Institute from Shenzhen.
Standard Chartered agrees to sell business in Jordan
Standard Chartered plans to sell its Jordanian business to Arab Jordan Investment Bank (AJIB), the two parties said on Sunday, as the emerging markets-focused lender presses ahead with plans to exit seven markets in Africa and the Middle East.
Korean battery makers hint at ‘price war’ with Chinese rivals
After years of a high-pricing, premium strategy, South Korea’s top three battery makers -- LG Energy Solution, Samsung SDI and SK On -- are increasingly turning their eyes to low-priced batteries in an apparent move to prevent ceding more market share to their fast-growing Chinese rivals in the soaring global electric vehicle market.
EU, Germany reach deal on fossil fuel car phaseout plan
The European Union and Germany on Saturday said they had struck a deal after a dispute over the planned phaseout by 2035 of the sale of cars using fossil fuels.
Kuwait political crisis drags down economy
A seemingly never-ending political crisis is plunging oil-rich Kuwait’s economy into the mire, affecting basic services and causing mounting public concern.
Manufactured goods orders of US edge down in Feb
Orders of big-ticket manufactured items ticked down in February on a slump in defense aircraft and parts, according to US government data released Friday.