The recent attack on Israel by Hamas is drawing comparisons to the Yom Kippur War, but experts believe the current situation is different from 50 years ago.
Israel is not expected to experience a rating downgrade thanks to its strong finances, unless the conflict with Hamas prolongs, according to a senior official.
Discounts on Russian oil imported by India have nearly doubled in the past two months, leading to an increase in imports and a rise in Russia’s share of India’s crude imports to 38% in September.
Despite financial struggles and economic challenges, a study found that 80% of young Americans between 18 and 34 are optimistic about their financial future, with the majority believing they will be thriving in both five and thirty years. However, these adults face obstacles such as basic expenses and rising inflation, along with a lack of financial support and resources.
India is considering signing an MoU with Indonesia to sell up to 1 million tonnes of white rice annually, as Indonesia looks for alternative suppliers due to disruptions caused by the El Nino weather pattern and difficulties with supplies from Vietnam.
Chinese bank Jinzhou Bank's troubles may be a sign of hidden bad debts across the country's finance sector, which is already grappling with defaults, unpaid debts, and defaults on payments owed to investors, posing a worrying prospect for the industry.
Gold and crude oil prices experienced significant gains as geopolitical concerns and cautious Fedspeak impacted financial markets, while the US Dollar strengthened and stock markets faced mixed outlooks.
The Israeli military has issued a three-hour deadline for residents of northern Gaza to evacuate, signaling the possibility of a ground offensive to "annihilate" Hamas.
Nigeria ranks fourth in the World Bank's top 10 IDA borrowers list with a debt of $14.3 billion, and it is the highest in Africa.
China's central bank plans to leverage monetary policies and capitalize on recent economic momentum to boost demand and confidence, with a focus on balancing economic growth and sustainability, according to Pan Gongsheng, governor of the People's Bank of China.
Short-duration strikes are becoming more common in the US labor landscape, with 196 strikes lasting a week or less so far this year, up 86% from the same period in 2021, as they are seen as an effective tactical tool by labor unions to achieve their bargaining goals while minimizing lost wages for strikers.
U.S. equity markets experienced volatility this week as investors grappled with geopolitical events in the Middle East and mixed inflation data, resulting in a retreat in benchmark interest rates and a decline in market-implied probabilities of another Federal Reserve interest rate hike. The S&P 500 and equity REIT sectors saw modest gains, while homebuilders faced pressure due to climbing mortgage rates. Tensions in the Middle East intensified following terrorist attacks on Israel, leading to a "risk-off" sentiment in financial markets. Inflation concerns persisted as inflationary pressures reaccelerated, driven by a resurgence in oil prices and sticky shelter inflation. Consumer sentiment declined, and inflation expectations rose in various surveys, while the three major housing industry lobby groups called on the Fed to avoid further rate increases. In the REIT sector, Equity LifeStyle reported earnings, and several REITs raised their dividends. Manufactured housing REIT Sun Communities announced a stake sale, and Apple Hospitality acquired two hotels. Farmland REIT Farmland Partners finalized transactions, and industrial REIT Terreno reported preliminary metrics ahead of its third-quarter earnings. Medical Properties Trust closed the sale of its Australian facilities. Meanwhile, mortgage REITs stabilized following a recent decline. Looking ahead, the U.S. housing market's performance will be closely watched, with data on homebuilder sentiment, housing starts and building permits, and existing home sales set to be released. Retail sales and Federal Reserve commentary will also be in focus.
Canadian mom goes viral for her weekly grocery shopping trips to the US due to high food prices in Canada, highlighting the country's struggle with food inflation and putting pressure on Prime Minister Justin Trudeau to take action.
US companies face growing refinancing and default risks as interest rates remain high and financial conditions for borrowers tighten, with $1.87 trillion of junk-rated debt maturing between 2024 and 2028, according to Moody's Investors Service.
Millions of young university graduates in China are struggling to find work amid the sluggish economy, prompting some to leave urban areas and seek success in rural regions of the country.
What3words, a global navigation company, sees Saudi Arabia as an exciting destination for business opportunities in e-commerce, logistics, tourism, transport, and the on-demand economy, with plans to expand further in the country and the wider Middle East region.
Experts suggest that there are several warning signs to watch for in order to be prepared for a potential housing crash in the future, including unsustainable price rises, high inventory with slower sales, rising mortgage rates, larger economic indicators, rental vacancy rates, shadow inventory impact, social media sentiment analysis, external factors, increase in foreclosure rates, and a combination of factors.
The surge in interest rates caused by Russia's invasion of Ukraine has made achieving net zero emissions by 2050 much more difficult and expensive, putting climate change goals at risk and creating political pushback against such commitments.
China's era of power and prosperity may be coming to an end as signs of economic decline emerge, making it unlikely for China to overtake the United States in the next decade.
GCC member states have achieved a 7.3% growth in their gross domestic product (GDP) for 2022, with the non-oil sector experiencing a 4.8% increase, according to GCC Secretary-General Jassim Mohammed Al-Budaiwi. The growth rate was disclosed during a meeting between Arab governors and the World Bank Group President Ajay Banga at the IMF and WBG meetings in Morocco.
Japan's economy is vulnerable to China's economic downturn due to a lasting deceleration in Chinese growth, geopolitical tensions, and intellectual property theft from Japanese firms in China, leading to a reduction in exports and negative GDP growth in Asia.
The Israeli military has urged Gaza residents to evacuate the northern half of the territory for their safety, offering a temporary window for them to move southward, as Israel prepares for a major campaign against Hamas militants.
Saudi Arabia is considered an exciting destination for e-commerce, logistics, and tourism, attracting global navigation company what3words, which sees the kingdom as a gateway to the region and expects more deals to be signed in the coming months in various sectors such as real estate, logistics, and car manufacturing.
The German travel industry has seen a rebound in sales, but a significant number of people can no longer afford organized holidays abroad, highlighting a growing disparity between those who can and cannot travel due to the economic impacts of the pandemic and a deepening recession forecasted for Germany. Additionally, the president of the German travel association DRV emphasized the need for affordable vacations for average earners and addressed the role of travel agencies in promoting climate-friendly and sustainable travel in response to the increasing impact of climate change.
The Iranian government's failure to announce new guaranteed purchase prices for wheat and make full payments to farmers has caused a delay in next season's cultivation, potentially leading to a shortage of bread and potential social unrest.
The Pakistani rupee is expected to gain further strength against the US dollar as the next IMF review approaches, with analysts predicting continued appreciation in a controlled environment. The IMF review in November will determine if the rupee's performance can be sustained, and the currency has already experienced a 1.43% rise over the last five sessions.
Chinese President Xi Jinping is set to host the third Belt and Road Forum, which will include attendees such as Russian President Vladimir Putin and Thai Prime Minister Srettha Thavisin, who hopes China's support will boost Thailand's economy; other key events in Asia this week include Foxconn Technology Day and the registration opening for Indonesia's presidential vote.
Pakistan has signed a memorandum of understanding with the Bill and Melinda Gates Foundation to introduce the next generation of the Raast-supported digital public infrastructure (DPI) project, which aims to reduce reliance on cash and drive financial inclusion in the country.
China's economic recovery has led to a drop in confidence among companies and jobseekers, with some industries becoming more conservative about hiring and senior candidates less willing to change roles, despite the government reporting an overall stable labor market. Recruitment agencies have reported shrinking revenues, although certain sectors such as hospitality, catering, and new energy show potential for job growth. Factors such as the focus on domestic replacement, declining demand in certain industries, and the impact of China's crackdown on private tutoring and the property market have contributed to the challenging job market conditions.
China's Belt and Road Initiative (BRI) has led to the construction of infrastructure projects in developing countries, such as the China Pakistan Economic Corridor (CPEC), but these projects have been plagued by corruption, delays, and other issues, leaving many countries deeply indebted to China with little economic benefit to show for it.
JP Morgan CEO Jamie Dimon warns that ongoing geopolitical tensions, including the Russia-Ukraine conflict and violence between Hamas and Israel, could have far-reaching impacts on the global economy, from energy to food markets.
China's economy is facing uncertainties due to concerns about the property crisis, a lack of confidence, and a slowdown in year-on-year GDP growth, which is expected to be below Beijing's target of around 5%.
Southern Gaza, due to an influx of displaced people and ongoing attacks, may soon become more densely populated than major cities like Delhi, Alexandria, and Karachi.
Private credit lending is at risk from higher interest rates and debt issues, prompting global watchdogs to call for more transparency and data collection in the industry.
The International Monetary Fund's Gita Gopinath discusses the impact of artificial intelligence, India's economic growth, and concerns about China's growth projection in an exclusive interview, while also addressing issues such as extreme weather events and food security.
Pakistan is facing a poverty crisis, with 40% of its population living below the poverty line, according to the World Bank.
India's space economy is projected to surpass $40 billion by 2040, thanks to the successful Chandrayaan-3 mission and Prime Minister Narendra Modi's decision to unlock the potential of the space sector, according to Union Minister Jitendra Singh.
Bank of England Governor Andrew Bailey expressed puzzlement at the lack of response in pay growth to the Bank's interest rate hikes, which have impacted employment numbers and the housing market.
A lower-spending National/ACT government is expected to moderate inflation in New Zealand, but economists caution that it won't be a cure-all for the economy.
World Bank and IMF annual meetings in Marrakech discuss global economic growth, debt burdens, climate change, and geopolitical uncertainties.
Federal Reserve officials are expected to pause on raising interest rates at their next meeting due to recent increases in bond yields, but they are not ruling out future rate increases as economic data continues to show a strong economy and potential inflation risks. The Fed is cautious about signaling an end to further tightening and is focused on balancing the risk of overshooting inflation targets with the need to avoid a recession. The recent surge in bond yields may provide some restraint on the economy, but policymakers are closely monitoring financial conditions and inflation expectations.
The U.S. economy's strength poses a risk to the rest of the world, leading to higher interest rates and a stronger dollar, while global trade growth declines and inflation persists, creating challenges for emerging markets and vulnerable countries facing rising debt costs.
Contrarian income investors are finding opportunities to "lock in" bigger dividend yields by investing in stock-focused closed-end funds, with many of these income plays paying Treasury-doubling 10% yields now, as consumer spending remains strong and interest rates remain manageable.
Investors are hopeful that the year-long decline in profits for Corporate America will come to an end with a projected rebound in the final quarter, but concerns about the fragile economy, high interest rates, and wary consumers suggest that any relief for stocks may be short-lived.
China's economy and property market are showing improvement, and local government debt risks are "manageable," according to the governor of the People's Bank of China, Pan Gongsheng.
American families are facing a variety of financial challenges, including inflation, high costs of living, and increasing mortgage rates, which are making it difficult for young families to buy homes; in addition, sudden job loss can lead to a financial doom spiral.
Zambia has reached an agreement with its bilateral creditors to restructure about $6.3 billion of debt, three years after the country defaulted, with the agreements including an extension of debt maturities and reduced interest rates.
Hedge fund billionaire Paul Tudor Jones warns that the US will need to change Social Security and cut federal health insurance to address the worsening debt crisis, suggesting an increase in taxes and urging individuals to secure their finances by figuring out their Social Security benefits, being careful with healthcare expenses, and investing wisely.
A recent study from Washington University finds that the drop in hours worked during the pandemic is primarily due to workers choosing to work fewer hours rather than dropping out of the labor force, which has led to job openings remaining high and unemployment rates low. This phenomenon, known as "quiet quitting," has been enabled by the shift to hybrid or remote work and has positive implications for work-life balance and productivity.
Preserving Canada's Old Age Security system is crucial to protect retirees' financial security, but the rising cost of OAS and inadequate tax revenues pose fiscal challenges that could be addressed by reviewing outdated tax shelters for retirees.