Mortgage rates have increased recently due to the Federal Reserve's interest rate hikes, and there is a possibility of further rate increases if inflation persists, so homebuyers are advised to focus on getting the best rate for their financial situation.
German business morale deteriorated slightly in September, falling for the fifth month in a row and underscoring recession fears in the country's largest economy.
The BRICS alliance is challenging the global dominance of the U.S. dollar by using local currencies, and the U.S. needs to implement new policies and engage in constructive diplomacy with each member to counter their aspirations of world dominance.
British retailers reported a smaller annual fall in sales for September and expect a modest improvement in the months ahead, according to the Confederation of British Industry (CBI).
Concerns over a possible U.S. government shutdown, rising oil prices, and a heavy schedule of Treasury debt sales are adding pressure to the markets, along with the ongoing property crisis in China and the effects of last week's hawkish Federal Reserve projections.
The Middle East hotels' food and beverage segment contributes significantly to revenue, with about 40% of hotel revenue in the region being generated from beverage sales, according to industry experts at the Future Hospitality Summit in Abu Dhabi. However, there has been a decline in food and beverage profitability due to increased competition from dining options outside of hotels and challenges in hiring high-quality staff.
The Pakistani rupee strengthened against the US dollar in the interbank market due to the government's crackdown on the money market.
The Association of Cement Manufacturers warned that the price of cement in Nigeria will increase from ₦5000 to ₦9000 due to the government's plan to introduce concrete roads, and urged the government to address monopoly chains in the sector to bring down prices.
Oil prices are rising again after a short pause, driven by Russia's temporary ban on fuel exports and concerns of low supply, with analysts predicting it could hit $100 a barrel for the first time in 13 months.
India is preparing to auction its lithium reserves in Jammu and Kashmir as it seeks to secure a stable supply of the critical raw material for electric vehicle battery production.
Despite the US undergoing aggressive monetary tightening, there are hopes for a soft landing for the economy, although US Federal Reserve Chair Jerome Powell acknowledges that this outcome is only a possibility and dependent on external factors.
Evergrande, the embattled Chinese developer, is facing trouble with its debt restructuring plan due to a regulatory probe into its subsidiary, Hengda Real Estate Group, which could lead to liquidation if a new deal with creditors cannot be reached.
Bank of Japan Governor Kazuo Ueda warns of uncertainty in companies' ability to raise prices and wages, and emphasizes the need to maintain loose monetary policy, while also expressing concerns about the economic outlook abroad, particularly in relation to U.S. interest rate hikes and China's sluggish growth.
The Bank of Ghana is expected to conclude its tightening cycle as falling inflation signals a stable economy, according to a Reuters poll, with interest rates likely to be cut in the coming months.
The Ukraine war has led to a decrease in global trade between geopolitical blocs, as sanctions and blockades hinder trade flows and countries seek to diversify their sourcing.
The text criticizes the United States for abusing its dollar hegemony and monetary policy, causing market turmoil and benefiting from global wealth while shifting its own crisis onto other countries.
The Bank of Ghana is expected to hold its interest rate at 30% due to pressures from the strong US dollar, as central banks across Africa grapple with balancing inflation control and economic growth.
The European Automobile Manufacturers’ Association is urging the EU to scrap plans for 10% tariffs on electric vehicle manufacturers who do not source all their parts from within the bloc and Britain, warning that this could result in a £3.7bn cost and drive up consumer prices.
The European Central Bank should focus on persisting with high interest rates rather than testing the economy to breaking point, according to Governing Council member Francois Villeroy de Galhau.
Indian students from Punjab studying in Canada spend approximately Rs 68,000 crore ($8 billion) annually, highlighting the significant economic contribution of Indian students to Canada. They not only fund the public education system more than the government of Ontario but also contribute twice the amount Canadian students do, according to a report by Sikh Vox and Higher Education Strategy Associates. The increase in Indian students studying abroad can be attributed to rising consumer demand in India, higher incomes, and increased awareness of foreign destinations.
The UK economy is expected to slow in 2023 and 2024 due to high interest rates, continued uncertainty, and low productivity, with GDP growth predicted to drop to 0.4% this year and 0.3% in 2024, according to economists at KPMG and the OECD.
The recent decline in inflation and potential end to interest rate hikes may not solve systemic problems in the housing market, as rising energy prices and high mortgage rates continue to squeeze the market and push house prices down.
China is facing challenges in its economic recovery, including calls for policy clarity, concerns over over-reliance on Chinese EVs, inadequate scientific literacy, declining luxury spending by the middle class, and a shrinking US middle class.
Bank of Japan Governor Kazuo Ueda highlighted uncertainty over companies raising prices and wages, emphasizing the bank's commitment to maintaining loose monetary policy, while also expressing caution about the global economic outlook due to aggressive US interest rate hikes and sluggish growth in China's economy; the key driver of inflation will be whether strong wage growth and consumption outweigh rising import costs, he said.
The property market in Germany is in crisis as rising interest rates and raw material costs lead to a spike in bankruptcies among developers, causing construction projects to halt and leaving homeowners-to-be in financial distress. Chancellor Olaf Scholz is calling for talks with industry leaders to find solutions to jump-start construction and alleviate the growing housing shortage.
S&P Global Ratings retains India's FY24 growth forecast at 6% due to the slowing world economy, subnormal monsoons, and delayed rate hikes, while also revising up the full fiscal retail inflation forecast to 5.5% on higher global oil prices.
Singapore's consumer price index inflation eased slightly in August, largely due to softer services and food prices, although increased fuel prices continued to support inflation; however, the Monetary Authority of Singapore (MAS) expects core inflation to further moderate in the coming months.
India is reportedly easing restrictions on imports of laptops and tablets, allowing companies like Apple and Dell more time to prepare for potential curbs, by replacing the compulsory licensing requirement with a registration system starting on November 1.
Greece's economy, once on the brink of collapse, is now one of Europe's fastest-growing economies, with increasing investments, a booming tourism sector, and a rise in construction and job opportunities; however, the country still faces challenges such as high levels of debt, nonperforming loans, and inflation.
Pakistan's consumption-oriented growth model, heavily reliant on foreign currency loans and imports, is not sustainable for long-term economic growth, and a shift towards investment-led growth and increasing the investment-to-GDP ratio is necessary to generate foreign currency and achieve sustainable growth.
Italian Prime Minister Giorgia Meloni acknowledges her disappointment in controlling irregular migration since her party's election, as the number of people arriving on boats from North Africa has increased.
Hong Kong stocks tumble as China Evergrande cancels creditor meetings, raising concerns about the property sector and China's economic stability.
Western countries have an opportunity with the Partnership for Global Infrastructure and Investment (PGII) to counter China's struggling Belt and Road Initiative by providing a credible infrastructure plan for developing countries, but the financing and transparency of the PGII still need to be addressed.
New Zealand's economy, which slipped into a recession earlier this year, experienced modest growth of 0.9% in June, but economists warn that the weak figures are unlikely to improve significantly due to the looming global economic downturn caused by the pandemic and supply chain disruptions. The ruling Labour Party, facing declining support in the polls ahead of the October 14 election, is also grappling with rising prices and concerns about inflation.
China is willing to strengthen bilateral relations with India and implement the consensus reached by Narendra Modi and Xi Jinping, according to the Consul General of China in Kolkata, Zha Liyou, amid controversy over China's refusal to grant visas to three players from Arunachal Pradesh for the Asian Games.
Global shares fell as central banks indicated that interest rates would remain higher for longer and investors awaited U.S. inflation data, causing concern over the economic outlook.
Global markets face pressure as U.S. bond yields surge and the dollar strengthens; Hollywood screenwriters reach a tentative deal to end strike; global shares decline, dollar rises ahead of crucial U.S. inflation data; Vietnam aims to challenge China's rare earths dominance; Canadian economy headed for a rough patch; Trudeau expects Canadian interest rates to decrease by mid-2024.
The number of certified public accountants (CPAs) in Japan is rising, with applicants doubling in the past eight years and exceeding 20,000 for the first time in 12 years, due to stronger corporate demand and easier job mobility outside of auditing firms.
The impact of a potential economic downturn in China will be felt in Australia through weakened trade and reduced risk appetite in financial markets, according to Australian regulators.
Kevin O'Leary warns of a potential collapse in the commercial real estate sector, which will have detrimental ripple effects on investors and small business owners due to vacant office spaces and regional banks' exposure in commercial real estate.
Stephanos Kasselakis, a former Goldman Sachs associate and political novice, has been elected leader of Greece's leftist Syriza party, as the party seeks a comeback after recent electoral defeats.
The German government has decided to indefinitely delay plans to enforce stricter building insulation standards in order to support the struggling building industry.
China's economic troubles are largely attributed to their centralized planning approach, which has led to wasted resources, missed opportunities, and ineffective projects, serving as a warning for other nations considering similar strategies.
Chinese migrants to Australia are on track to surpass pre-pandemic levels, attracted by job opportunities, property investments, and improved economic ties between China and Australia.
The independent expert group on multilateral development bank (MDB) reforms is encouraged by the response to their recommendations, but believes that there is still a long way to go for effective implementation; they also discuss the shift in developed countries' stance, addressing issues around private funding and MDB reform, the threat of inflation, the slowing Chinese economy, and the potential for India to absorb manufacturing from China.
French President Emmanuel Macron plans to pressure the country's oil sector to sell gasoline and diesel at cost, in an effort to alleviate the impact of rising prices on households without using public funds.
The Australian government's reliance on the non-accelerating-inflation rate of unemployment (NAIRU) as a measure of full employment is outdated and flawed, as recent data shows that low unemployment has not led to significant wage growth or inflation, indicating that the NAIRU is no longer a reliable indicator for economic policy.
Australia's growth in the creator economy is at risk of slowing down without dedicated investment and greater understanding, according to a white paper sponsored by YouTube, as the digital economy becomes increasingly intertwined with the creative industries. With digital exports predicted to be worth $16 billion by 2030 and a significant contribution to the country's GDP from e-commerce and media platforms, policymakers and decision-makers need a deeper understanding of the creator economy's potential to reshape Australia's creative industries.
India's visa ban on Canadians could have a significant impact on tourism, aviation, hospitality, and education industries, potentially causing a pause in trade negotiations and affecting Canadian investments in Indian companies.
Mexico's southern region is experiencing double the economic growth of the national level, driven by investment and construction projects, according to the Finance Ministry.