Global Economy
Russia sets price floor for wheat at int’l tenders
Russia’s agriculture ministry asked exporters at a closed-door meeting on Friday not to sell wheat by tender to international buyers below a minimum price, two sources with direct knowledge of the matter told Reuters.
India’s 100 richest tycoons surpass $1tn milestone
The collective wealth of India’s 100 richest tycoons surpassed the trillion dollar milestone for the first time as more than 80 per cent of the country’s richest tycoons are now wealthier than they were a year ago, a Forbes report showed on Thursday.
China tees up fresh spending to boost ailing economy
China said Saturday it would issue special bonds to help its sputtering economy, signalling a spending spree to bolster banks, shore up the property market and ease local government debt as part of one of its biggest support packages in years.
IMF approves changes to cut borrowing costs by 36%
The IMF approved reforms on Friday that will lower members’ borrowing costs by 36 percent and lift eight indebted countries out of the requirement to pay more to borrow money.
Russian inflation slows in Sept but still elevated
Inflation ticked lower in Russia in September but was still more than double the central bank’s target, as huge spending on the Ukraine conflict kept upward pressure on prices, official data showed Friday.
EU chief says China must ‘adapt its behaviour’ to solve trade row
China must “adapt its behaviour” to solve an escalating tariff row with Europe, EU chief Charles Michel told AFP Friday, warning of the dangers of the dispute escalating into a full-blown trade war.
US consumer inflation eases to 2.4% in September
US consumer inflation cooled last month -- though slightly less than expected -- according to government data published Thursday, providing further evidence that price pressures are easing ahead of November’s presidential election.
Boeing to cut 10% of workforce as it sees big Q3 loss
Boeing announced that it plans to cut 10 percent of its workforce as it projected a large third-quarter loss amid a machinist strike in the Seattle region.
IMF's Georgieva says Americans should 'cheer up' about falling inflation
IMF's managing director Kristalina Georgieva is hopeful about the US economy as inflation declines further
China factory activity growth accelerates in Dec
China's factory activity expanded at a quicker pace in December due to stronger gains in output and new orders
Saudi sovereign wealth fund splashes cash in 2023
Saudi Arabia's Public Investment Fund accounted for about a quarter of the almost $124 billion spent by sovereign wealth funds worldwide last year
Sri Lanka raises taxes ahead of foreign debt deal
Sri Lanka slapped a new 18 % VAT on fuel, mobile phones and computers from Monday to raise revenue ahead of a foreign debt restructuring
Russian economy shrank by 1.2% in 2022, less than previously thought
Russia's economy contracted by 1.2 percent last year, less than the 2.1 percent decline previously estimated
King dollar seen vulnerable in 2024 if Fed pivots
The Federal Reserve's dovish December pivot has boosted the case for the weakening dollar to keep falling into 2024
China's December factory activity likely contracted for third month
China's manufacturing activity likely contracted for the third consecutive month weighed by soft demand for manufactured goods
Maersk schedules dozens of vessels to travel via Suez Canal
Maersk has scheduled several dozen container vessels to travel via the Suez Canal and the Red Sea
AI to give fillip to new industrial revolution
Artificial intelligence has the potential to revolutionize various industries, spearheading a new technological and industrial revolution