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

US retail sales pick up pace in September

Retail sales in the United States accelerated in September, according to government data released Thursday, a positive sign for consumption as the election approaches.
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

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

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

Why women risk losing out in shift to green jobs

Closing the gender gap in science, technology, engineering, and math would accelerate the green transition while making it more inclusive
16 October 2024, 09:17 AM

'Age of Electricity' coming as fossil fuels set to peak: IEA

Demand for oil, gas and coal is still projected to peak by the end of the decade, possibly creating a surplus of fossil fuels, the IEA said in its annual World Energy Outlook
16 October 2024, 08:49 AM

UK inflation hits three-year low, fuelling rate-cut hopes

The Consumer Prices Index (CPI) reached 1.7 percent last month, well below the BoE's two-percent target, after hitting 2.2 percent in August, the Office for National Statistics (ONS) said in a statement
16 October 2024, 07:31 AM

China set to post slowest quarterly growth this year: analysts

Officials have in recent weeks unveiled a string of measures to reignite the world's number-two economy and bring an end to years of depressed business activity with an eye to achieving five percent annual growth
16 October 2024, 06:17 AM