Chinese households are increasingly opting for domestic brands as their budgets tighten and national pride grows, with home-grown brands in cosmetics, clothing, and household appliances seeing a rise in market share, although analysts say Beijing needs to do more to revive consumer confidence.
Simone Biles makes history by becoming the first woman to successfully land the Yurchenko double pike vault at an international competition, leading to the renaming of the move as "Biles II."
Russian manufacturing activity reached its highest level in over six years in September, driven by strong domestic demand, new product launches, and successful import substitution, according to a survey by S&P Global.
Lithium prices are plummeting to a two-year low due to concerns about weak Chinese demand for the material, impacting electric vehicle battery production.
India's GDP growth is expected to moderate over the next few quarters, with a projected growth rate of around 7% in the second quarter and a slowdown to around 4.5-5% in the second half of the year. Factors such as the fluctuating monsoon, lower reservoir levels, cautious rural demand, and the impact of monetary tightening are likely to contribute to this moderation in growth. The writer predicts a full-year GDP expansion of 6%, with future growth depending on factors such as the outcome of the next election.
The Bank of Japan is considering the eventual end of its ultra-loose monetary policy, with some policymakers discussing the conditions and timing of a future exit, according to a summary of opinions from their September meeting, leading to a rise in government bond yields.
Japan's factory activity fell at the fastest pace in seven months in September, as worsening global economic conditions weakened demand, with new export orders remaining in contraction for 19 consecutive months.
Chancellor Jeremy Hunt will emphasize the government's plan to make benefits sanctions stricter and raise the national living wage to over £11 per hour in a speech at the Tory conference, as pressure mounts for tax cuts and welfare changes to reduce spending and boost the economy.
US stock futures rose after a deal was reached to avoid a government shutdown, while Asian equities fluctuated due to concerns over global interest rates; investors found relief in China's manufacturing activity returning to expansion and South Korea's exports easing.
Japan's business sentiment improved in the third quarter, with big non-manufacturers experiencing their highest mood levels since 1991, suggesting a strong economic revival and potential conditions for the Bank of Japan to phase out stimulus measures.
Thailand seeks to develop its soft power and boost its economy by focusing on sectors such as tourism, food, and textiles.
The UK government plans to increase the national living wage to over £11 an hour, benefiting two million low-paid workers, while also cracking down on benefit claimants who refuse to look for work; the reforms are aimed at "making work pay." Additionally, the Child Maintenance Service will be given new powers to process maintenance payment orders for absent fathers directly, reducing processing time.
China's manufacturing activity expanded for the first time in six months, indicating that the economy is recovering and may continue to improve in the fourth quarter, supported by government policies and increased demand.
China's factory activity expanded at a slower pace in September, with sluggish external demand weighing on the outlook, although output increased, according to a private-sector survey.
The price of a first-class stamp in the UK has increased to £1.25 from £1.10, with Royal Mail blaming cost pressures and the economic environment for the rise. Critics argue that the regulator, Ofcom, should hold the company accountable for increasing prices while households struggle with rising costs. However, Ofcom states that pricing flexibility is necessary to ensure the viability of the postal service. The price of a second-class stamp remains unchanged at 75p.
British finance minister Jeremy Hunt will announce a rise in the minimum wage and ignore calls for tax cuts in his annual Conservative party conference speech.
New policies on unemployment support in Singapore will likely provide a temporary safety net for laid-off individuals while encouraging skills upgrading to improve job prospects, with eligibility requirements such as training and active job searches to prevent abuse of the system.
Asian markets may be boosted by positive sentiment following a deal to prevent a U.S. government shutdown, but mixed Chinese data and a struggling economy may put a dampener on gains; central bank decisions and inflation data will also be watched closely this week.
Asian markets may receive a boost from the U.S. Congress' last-minute deal to prevent a government shutdown, but mixed Chinese purchasing managers index data and a struggling economy may dampen sentiment.
UK Finance Minister Jeremy Hunt dismisses calls for tax cuts within the Conservative Party, stating that he cannot commit to any reductions before the next election due to concerns about inflation.
China's debt trap is beginning to backfire as countries struggle to repay their loans, forcing Beijing to prop up its debtors and issue emergency loans totaling over $230 billion; the country's own internal debts and lack of transparency in its Belt and Road investment initiative are contributing to the problem.
The US may be at risk of a recession due to factors such as a potential auto strike, the resumption of student-loan repayments, rising oil prices, and a global economic slowdown.
Greece's economy is booming with a high growth rate, declining unemployment, increased tourism, and investments from major corporations.
China's property market blowup, which has led to major developers struggling and low housing sales, may not necessarily result in a financial crisis due to the unique characteristics of China's housing market and Beijing's control over the financial system, but it is expected to cause significant damage to bank balance sheets and potentially lead to widespread financial turbulence if support is not provided to local governments and small lenders.
Jonathan Kearns, an economist at Australia's ASX-listed Challenger, predicts that the country's cash rate is unlikely to see any rate cuts until 2025 and will likely plateau at its current level of 4.1%, with the potential for further increases if inflation persists, despite the majority of economists surveyed expecting the first interest rate cut by August 2024; Kearns also highlights challenges in boosting productivity and warns of the impact of rising oil prices on inflation expectations.
Abu Dhabi's non-oil economy grew by 12.3 percent in Q2 2023, reaching its highest level since 2014, driven by growth in sectors such as construction, finance, manufacturing, and real estate, contributing to an overall GDP increase of 3.5 percent, according to the Statistics Centre — Abu Dhabi.
Carbon prices are spreading globally, with a quarter of global emissions now covered by carbon pricing schemes, as more countries embrace the mechanism to fight climate change at the lowest possible cost.
Renowned investor Ray Dalio has expressed concerns about the US economy, warning of a potential debt crisis in the country as the national debt surpasses $33 trillion, following a significant surge in debt levels in recent years.
Qatar's balance of payments recorded a surplus of 7.9 billion riyals ($2.17 billion) in the second quarter of 2023, driven by the diversification of its economy.
Abu Dhabi's non-oil economy grew by 12.3% in the second quarter of 2023, contributing to an overall GDP increase of 3.5%, driven by growth in construction, finance, manufacturing, real estate, and retail trade sectors.
UK house prices are dropping at the fastest rate since 2009, driven by higher mortgage rates and affordability constraints, but buyer demand and consumer confidence are showing signs of improvement. Lowering mortgage rates could be key to revitalizing the housing market, which is expected to end the year with prices 2-3% lower than at the beginning of the year.
Annual inflation in Peru decelerated to its lowest level in over two years in September, reaching 5.04%, but still above the central bank's target rate of 2% plus or minus one percentage point.
The BRICS alliance has welcomed six new countries, including Saudi Arabia and Iran, leading to concerns from Western powers about the expansion's potential impact on the traditional financial order; however, the US and Germany have stated that countries have the right to choose their trade partners and forge deals according to their national interests.
The Belt and Road Initiative (BRI) has evolved over the past ten years, with a greater focus on environmental governance, financing shifts, and changes in Chinese interests in different regions, but concerns remain regarding the implementation of "green" policies and the sustainability of BRI projects, as well as issues of transparency and trust in host countries like Pakistan.
Mary C. Daly, president and CEO of the Federal Reserve Bank of San Francisco, discusses interest rates, inflation, and various economic topics in a recent interview, emphasizing the importance of collecting information and gradually bringing down inflation. She also highlights the robust job market and the stability of the banking system. However, she expresses concern about the commercial office real estate sector and the unequal distribution of economic hardships.
U.S. equity markets declined for a fourth-straight week while benchmark interest continued an unabating resurgence to fresh multi-decade highs as a looming government shutdown added complications to existing "higher-for-longer" concerns.
Saudi real estate developer ROSHN has announced the launch of sales for the third phase of its flagship development, SEDRA, in Riyadh, offering a range of residential options and amenities, in line with Saudi Vision 2030.
A recent report from the Start-Up Nation Policy Institute (SPNI) reveals a 20% drop in investments and a 50% decrease in deals in the Israeli hi-tech sector, emphasizing the need to resolve judicial reform in order to stabilize the sector.
Investors are showing signs of stress as big down days become more frequent and rebounds are scarce, with options traders warning against getting too comfortable amidst the risks of a narrowly-averted US government shutdown, rising Treasury yields, concerns about Federal Reserve action on inflation, and an auto-worker strike.
The federal debt, which has reached over $33 trillion and is increasing, is predicted to cause a crisis in the near future, leading to high inflation, lower profits for companies, and potential stock market problems, highlighting the importance of diversifying investments.
Demand for plastic surgery has plummeted as Americans, who were previously seeking cosmetic procedures at higher rates during the pandemic, start to rein in their spending as they run out of savings, indicating a potential economic downturn.
Scotland's financial sector has unveiled a plan to address financial vulnerability by encouraging people to discuss their financial crises and share information across providers, though trust remains a concern.
Nigeria's president increases the wages of some government workers in a last-minute attempt to avoid a planned strike by labor unions, but the increase falls short of their demands.
Saudi Arabian Airlines, also known as Saudia, has unveiled a new brand identity as part of its commitment to digital advancement and the ongoing digital transformation, with a focus on improving services and introducing new products, including an AI-driven personal assistant for travel queries. The airline aims to enhance the customer experience and is targeting a significant increase in passenger count over the next seven years.
The European Union's carbon border adjustment mechanism (CBAM) is now applicable to certain exports, causing concerns for small businesses regarding disruptions in the trade of industrial goods.
The Reserve Bank of India (RBI) is expected to keep the benchmark interest rate unchanged at 6.5% in its upcoming monetary policy review due to elevated inflation and global economic factors.
Europe's economy is facing trouble as interest rates rise and debt servicing costs increase, particularly in the eurozone where the European Central Bank will struggle to provide support due to the constraints of the euro; fiscal deficits and breaches of budget deficit limits persist, with countries like Italy and France openly defying spending cuts, while Germany's reluctance to break from balanced budgets and increase investment spending exacerbates the contracting economy.
Saudi real estate developer ROSHN has launched sales for the third phase of its flagship development, SEDRA in Riyadh, offering a variety of residential options and amenities to meet the growing demand for modern and sustainable living spaces in the Kingdom.
The fourth quarter of 2023 may be challenging for stocks due to higher rates and a stronger dollar, which could lead to tighter financial conditions and increased volatility in the equity market.
Saudi real estate developer ROSHN has announced the launch of sales for the third phase of its flagship development, SEDRA, in Riyadh, offering a wide range of residences and amenities to meet the demand for modern and sustainable living spaces in the Kingdom.