Despite pledges from large companies and banks to divest from coal, the dirty energy source continues to have unexpected staying power as smaller funds like Javelin Global Commodities fill the gap in coal investing, and global coal demand reached an all-time high in 2022 amid the energy crisis, surpassing the previous record set in 2013, according to a report by the International Energy Agency.
The International Monetary Fund did not reach a staff-level agreement with Sri Lanka for its bailout package due to a potential shortfall in government revenue generation, which could delay the release of the second tranche of the loan.
US mortgage rates surged to their highest level since 2000, leading to a decline in home-purchase applications, exacerbating the housing market's affordability crisis.
Russia's economy is expected to grow by 1.5% this year, defying previous projections of contraction and proving more resilient than expected to Western sanctions due to rising oil prices and new export markets, though an eventual slowdown is still predicted.
Peru aims to revive mining investment despite protests and political instability, with the government working to streamline environmental permitting regulations and address concerns from mining executives about unclear rules and red tape. However, weak governance and lack of clarity in the new government's direction remain obstacles to new investment.
Sri Lanka suffered a setback after failing to reach an agreement with the International Monetary Fund (IMF) on its next bailout tranche, as the IMF stated that a full economic recovery is not yet in sight and urged the government to boost revenues through tax reforms and improved governance.
A recent study found that the growth in debt among older households is concerning and a diverse range of policy responses are needed to address the financial vulnerability of high-risk borrowers.
A Windsor police officer has been charged with assault following an off-duty incident in Ottawa, while the Bank of Canada is expected to keep interest rates steady until Q3 2024 but with elevated rates, President Biden's dog bit another Secret Service officer in its 11th incident, projected pay increases in Canada for 2024 may be lower than this year, Interac is expanding its e-transfer service to include more financial institutions, and Nova Scotia receives a failing grade in poverty reduction.
Nigeria's top five best-performing sectors outside of oil in the first half of 2023 were manufacturing, technology and communication, agriculture, trade, and construction, with manufacturing and technology and communication experiencing significant growth.
The Israeli economy experienced a modest increase in August, but continues to face challenges due to global economic slowdown, structural changes in the legal system, unsteady private consumption, struggles in the industrial sector, declining imports, and a contracting job market.
A Nigerian senator has stated that Africa's largest economy needs more prominent business figures like Dangote, BUA, and Otedola to compete globally, addressing the issue of monopoly and the need for fair competition and economic growth in Nigeria.
Profits at China's industrial firms decreased by 11.7% in the first eight months of the year, but the pace of decline eased slightly, suggesting a modest recovery is taking place due to policy support measures.
Thailand's central bank raises policy rate to 2.5% in order to control inflation, going against market expectations.
Zimbabwe is seeking to attract more Chinese tourists, especially during the Spring Festival, as the country heavily relies on its tourism industry, which is the third-largest sector after mining and agriculture. The country witnessed a 50% increase in the number of tourists and a 16% growth in tourism revenues in the first half of 2023 compared to the same period last year.
Sales of lentils from Canada to India have slowed down after Canadian Prime Minister Justin Trudeau accused India of involvement in an assassination on Canadian soil, raising concerns of trade restrictions and potential inflation in India's domestic food prices.
China's central bank vows to provide stronger policy support for the economy and maintain a healthy property market, following the rebound of industrial profits in August.
China's property crisis, characterized by an excess of empty homes, could take up to a decade to resolve, according to economist Hao Hong, with the country's urbanization process stagnating and the property sector's contribution to GDP declining.
Australia's inflation for August met expectations, with core inflation easing further, reducing pressure on the central bank to raise interest rates next month.
China's central bank, the People's Bank of China (PBOC), plans to implement monetary policy with precision and force to support the recovering economy as it faces challenges such as insufficient demand, high inflation, and a complex external environment. They will maintain ample liquidity, stable credit expansion, and guide banks to lower borrowing costs, while also promoting government investment and policy incentives to spur private investment and stabilize the property market.
Chinese billionaire Hui Ka Yan, chairman of China Evergrande Group, has been placed under police control, although it is unclear why and he has not been charged with a crime; this follows the detention of personnel from Evergrande's financial subsidiary as the company navigates through a major restructuring and grapples with its debt crisis.
Canadian lentil sales to India have slowed down after Canadian Prime Minister Justin Trudeau accused India of involvement in an assassination, leading to fears of trade limitations and potential inflation of India's food prices.
Australian consumer inflation grew as expected in August, driven by surging energy and housing costs, raising speculation that the Reserve Bank may need to further increase interest rates.
India's External Affairs Minister, S Jaishankar, expressed concern about the increasing presence of Chinese naval activity in the Indian Ocean, raising implications for regional security, and emphasized the importance of monitoring Chinese port activities in the region.
The market for gold in China is surging as investors turn to the precious metal for safety amid economic stress, with the price of gold in Shanghai reaching a premium of 6% higher than in London or New York.
Latinos in the U.S. played a significant role in propelling the overall economy forward during the COVID-19 pandemic, with their Gross Domestic Product (GDP) reaching $3.2 trillion in 2021, making it the world's 5th largest economy and exceeding the economies of major countries like the UK, France, Spain, Italy, and India, according to a report by California Lutheran University and UCLA.
The Bank of Japan policymakers are divided on how soon the central bank could end negative interest rates, with some members believing it may take a significant amount of time before revising the policy, while others believe the 2% inflation target has come within reach and could be assessed in early 2024. The central bank's commitment to ultra-loose monetary settings remains due to uncertainty regarding the achievement of its inflation target.
The former Goldman Sachs chairman and CEO, Lloyd Blankfein, believes that the Federal Reserve may not need to keep interest rates high for an extended period, as cuts to rates could be on the horizon sooner than expected due to relatively subdued inflation, despite the tough rhetoric from top Fed officials.
A rare $10,000 banknote from 1934, featuring Salmon P. Chase, sold at auction for a record-breaking price of $480,000, surpassing the previous record of $384,000 set in September 2020.
If Congress fails to act, a potential government shutdown this weekend could harm the U.S. credit rating, according to Moody's. The agency highlighted the U.S.'s weak fiscal planning and dysfunctional budgeting process as factors that may negatively impact its credit rating.
Former George W. Bush speechwriter William McGurn advocates for Reaganomics, emphasizing the importance of free-market capitalism, low tax rates, and deregulation as the path to prosperity and economic growth.
Florida has surpassed New York as the second most valuable housing market in the United States, with its residential property values increasing by $160 billion in the past year due to increased demand from residents escaping high taxes, rising crime rates, and COVID-19 restrictions.
Galaxy chocolate bars have become the latest victims of "shrinkflation," as Mars Inc reduces the size of the bars without lowering prices in response to rising costs, leading to concerns among consumers and calls for more transparency from supermarkets and manufacturers.
A potential government shutdown in the US could negatively impact the country's credit rating and highlight weaknesses in institutional and governance strength, according to rating agency Moody's Analytics.
China's flailing real estate sector may take up to 10 years to fix, according to economist Hong Hao, as the sector continues to suffer from a debt crisis and oversupply, while demand is in long-term decline. Beijing officials are grappling with the challenge of reducing reliance on real estate without harming the economy in the short term.
Canada's banking regulator is concerned about the prevalence of ultra-long mortgages and is working with lenders to address the issue and implement more regulatory oversight.
Consumer confidence in the US dropped in September, signaling a growing concern among Americans that the economy might be heading towards a recession, as inflation, rising interest rates, and recession fears continue to impact consumers.
Canada's government plans to increase the size of its mortgage-bond program by 50% in an attempt to boost apartment construction and address rising housing costs.
China's efforts to reopen its economy and attract foreign investment after lifting its COVID-19 restrictions have been disappointing, with cross-border investment flows weakening, communication between the government and foreign investors strained, and business sentiment continuing to deteriorate.
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Germany will no longer provide promotional loans to China starting from 2026, in an effort to reduce the country's dependence on China as a strategic partner.
U.S. consumer confidence dropped to a four-month low in September, reflecting worries about higher prices, fears of a recession, and concerns about the political environment, according to the Conference Board; however, consumers' inflation expectations remained stable and their spending intentions for big-ticket items remained strong.
More Canadians are choosing to move to Mexico due to a better cost of living, with lower expenses for rent, transportation, food, and entertainment, resulting in savings of around 30% compared to living in Canada.
US companies' optimism about their business prospects in China is at a record low, with US-China tensions and negative effects on businesses being the biggest challenges, according to a survey by the US-China Business Council. Despite the low optimism, China remains a top-five priority market for 74% of companies surveyed.
Despite economic headwinds, including the Federal Reserve's interest rate announcement and increased geopolitical tensions, the U.S. dollar index has increased by 5% over the past two months, as former U.S. Vice President Mike Pence criticizes The Fed and recent economic policies from the Biden administration.
China's Belt and Road Initiative, which celebrates its 10th anniversary, is facing waning domestic support despite its touted economic benefits, according to The Economist's Beijing bureau chief and senior China correspondent.
A recent study reveals that 80 percent of Americans now have less extra cash in reserve than before the pandemic, as bank deposits and liquid assets have dipped below their March 2020 levels after adjusting for inflation.
US home prices reached a new record high in July, marking the sixth consecutive month of gains, driven by low inventory and rising costs, according to the S&P CoreLogic Case-Shiller US National Home Price Index.
The Federal Reserve's forecast for the U.S. economy shows that while inflation and unemployment are close to their goals, economic growth will remain weak, primarily due to low labor productivity.
The Reserve Bank of India plans to borrow Rs 6.55 trillion ($78.72 billion) through bonds from the market between October and March, including the introduction of a new 50-year tenor bond and the issuance of green bonds worth Rs 20,000 crore.
China's tourism industry is struggling to recover from the pandemic, with international tourism still far below pre-pandemic levels, and the shortage of tourists is attributed to factors such as challenges with payment methods, detainment of foreigners, and expensive and limited flights from the US, which is worrisome as it adds to China's other economic problems and could have a negative impact on the global economy.