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
21 October 2024, 08:12 AM

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
21 October 2024, 04:58 AM

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.
21 October 2024, 04:53 AM

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.
21 October 2024, 04:08 AM

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.
20 October 2024, 18:00 PM

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
20 October 2024, 11:13 AM

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
20 October 2024, 08:33 AM

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
20 October 2024, 04:38 AM

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
20 October 2024, 04:29 AM

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.
19 October 2024, 18:00 PM

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
19 October 2024, 06:42 AM

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
19 October 2024, 05:39 AM

US budget deficit widens to $1.8 tn, third highest on record

This year marks the third highest US deficit, behind 2021 and 2020, according to the Treasury
19 October 2024, 05:35 AM

IMF board approves $1.1 billion disbursal for Ukraine

The loan disbursal is the latest tranche of funding the International Monetary Fund has released to Ukraine as part of an ongoing 4-year, $15.5 billion program approved last March.
19 October 2024, 05:31 AM

Japan’s exports fall for first time in 10 months

Japan’s exports fell for the first time in 10 months in September, data showed on Thursday, a worry for policymakers as any prolonged weakness in global demand may complicate the central bank’s path to exit years of ultra-easy monetary policy.
17 October 2024, 18:00 PM

Gold sprints to record high in global market

Gold hit an all-time high on Thursday, steered by uncertainty surrounding the US election and expectations of more interest rate cuts by major central banks, while spotlight shifted to a slew of US data.
17 October 2024, 18:00 PM

Almost 40% of World Bank's recent climate funds unaccounted for: Oxfam

An Oxfam audit found that as much as $41 billion in climate finance could not be found "between the time projects were approved and when they closed."
17 October 2024, 06:34 AM

ECB set to cut rates again as inflation cools

After cutting rates twice already this year, including at their last meeting in September, policymakers initially signalled a preference to wait until December to cut again
17 October 2024, 05:03 AM

China to almost double support for unfinished housing projects

Housing minister Ni Hong said Beijing will "increase the credit scale of white-list projects to four trillion" yuan ($562 billion) by the end of the year
17 October 2024, 04:59 AM

Chinese firm Jidalai to invest $5.85 million in Adamjee EPZ

The company will annually produce 70 million pieces of pullers of zippers
16 October 2024, 12:33 PM