[ad_1] High-rise buildings in downtown Shanghai, China, on March 12, 2018. China cut its benchmark reference rate for mortgages by an unexpectedly wide margin on Friday, its second cut this year as Beijing seeks to revive the ailing housing sector to prop up the economy. Johannes Eisele | Afp | Getty Images China’s new home … Read more
[ad_1] U.S. Treasury Secretary Janet Yellen addresses journalists in a press conference July 9 capping her four-day Beijing visit. She said “direct, substantive and productive” talks have set relations between the world’s two largest economies on a “surer footing.” Pedro Pardo | Afp | Getty Images U.S. Treasury Secretary Janet Yellen said 10 hours of … Read more
[ad_1] Ayhan Altun | Moment Open | Getty Images Turkey’s monthly inflation rate for June came in lower than expected, despite the continued collapse of the lira currency following the re-election of President Recep Tayyip Erdogan. Turkey’s consumer price index rose 3.92% month-on-month, official data showed Wednesday. The reading was lower than Reuters’ forecast of 4.84% … Read more
[ad_1] Pedestrians in front of a pawn shop during Golden Week at night in Macau, China, on Sunday, April 30, 2023. Bloomberg | Bloomberg | Getty Images China’s lackluster economic recovery since emerging from strict “zero-Covid” lockdowns has caused weaker sentiment toward the country, prompting investors to look for alternative options — like its near … Read more
[ad_1] Chinese President Xi Jinping and hands with then U.S Vice President Joe Biden inside the Great Hall of the People on December 4, 2013 in Beijing, China. Lintao Zhang | Getty Images News | Getty Images Leaders of the Group of Seven agreed there’s a need to de-risk, not decouple from China, and acknowledged … Read more
[ad_1] An oil tanker being serviced by a bunkering vessel. Courtesy: Hafnia If you think that life at sea is like the movie franchise “Pirates of the Caribbean,” think again. The movies, which feature ambushes, looting and a drunken captain, are far from real life, according to shipping veteran Ralph Juhl. “That is, of course, … Read more
[ad_1] Calls to move away from relying on the U.S. dollar for trade are growing. More and more countries — from Brazil to Southeast Asian nations — are calling for trade to be carried out in other currencies besides the U.S. dollar. The U.S. dollar has been king in global trade for decades — not … Read more
[ad_1] The U.S. military airlifted embassy officials out of Sudan on Sunday and international governments raced to evacuate their diplomatic staff and citizens trapped in the capital as rival generals battled for control of Africa’s third-largest country for a ninth day. Fighting raged in Omdurman, the city across the Nile from Sudan’s capital, Khartoum, residents … Read more
[ad_1] Last Updated: April 07, 2023, 03:31 IST Kristalina Georgieva also said slower growth would be a “severe blow,” making it even harder for low-income nations to catch up. (Image: Reuters) International Monetary Fund managing director warned that a sharp slowdown in the world economy last year following the pandemic and Ukraine conflict The IMF … Read more
[ad_1] Last Updated: March 28, 2023, 05:02 IST The Washington-based multilateral lender predicts that China’s ability to keep the world’s economy afloat will wane as its growth slows in the years ahead. (File Photo) The world’s potential growth – its maximum long-term growth rate without sparking inflation – will slow to an average annual rate … Read more