Japanese Prime Minister Fumio Kishida has announced a 20.7 billion yen ($141 million) emergency fund to aid exporters affected by China's ban on Japanese seafood following the release of treated radioactive wastewater from the damaged Fukushima nuclear power plant, with the fund aimed at finding new markets for Japanese seafood and expanding domestic consumption.
The G20 Summit in central Delhi this weekend will result in tight security measures and closures of certain establishments, while the Metro services will remain functional and essential services like grocery stores will stay open.
China's economy has faced numerous challenges in 2023, including deflation and a property crisis, but another significant threat is the increasing number of wealthy individuals leaving the country, contributing to a brain drain.
Saudi Arabia's National Housing Co. has partnered with the Cityscape Global real estate exhibition to boost property activity in the Kingdom, showcasing key projects and providing access to investment opportunities and technical solutions.
Former Bank of Japan board member Goushi Kataoka believes that the central bank can only shift away from its easy monetary policy once it has achieved its 2% inflation target sustainably, with wage negotiations in 2024 playing a key role in this process. Kataoka expects the Bank of Japan to gradually remove its yield curve control and negative interest rate policies before exiting its easy policy. He also emphasizes the importance of cooperation between the Japanese government and central bank in achieving the inflation target.
The Japanese government has allocated an additional 20.7 billion yen to support the fisheries industry after China's total import ban of Japanese aquatic products due to concerns over the release of treated radioactive water from the Fukushima Daiichi nuclear power plant.
German exports fell slightly in July, raising concerns that the country's economy may be at risk of undoing previous gains, as global demand weakens and companies struggle with supply chain issues and eroding competitiveness.
President Joe Biden criticized his likely 2024 rival, Donald Trump, in a Labor Day speech aimed at winning support in Pennsylvania, emphasizing job growth under his own administration compared to Trump's.
China's economic slowdown, driven by a debt-ridden and overbuilt property sector, is not expected to have a significant impact on the global economy or US exports, although a prolonged downturn could have broader consequences. While companies like elevator maker Otis will feel the effects, China's reduced growth is unlikely to be contagious beyond its borders.
China's economic boom, once seen as a miracle, now appears to be a mirage due to failed reforms, an outdated reliance on old economic models, and a growing debt burden, raising concerns about the nation's economic future and the potential for a financial crisis.
Fidelity International's Salman Ahmed predicts a recession due to high interest rates and the increasing costs of refinancing corporate debt that's becoming due in the next few years.
Fidelity International's Salman Ahmed predicts a recession due to rising interest rates and high levels of corporate debt that will face higher refinancing costs, potentially leading to a slowdown in growth and decreased consumer spending.
European shares hit three-week highs as investors were optimistic about China's stimulus measures, with miners leading the gains and Novo Nordisk hitting a fresh record high.
UAE's Global Investment Holding Co. has purchased a 30% stake in Egyptian tobacco manufacturer Eastern Co. for $625 million, as part of Egypt's effort to increase private investments and reduce the state's involvement in the economy. Additionally, Italian energy major Eni plans to invest $7.7 billion in Egypt, further showcasing renewed investment interests in the African continent.
The US dollar edged lower as US markets were closed for a holiday, and investors considered US jobs data indicating signs of cooling, leading to speculation that the Federal Reserve may be at the end of its monetary tightening cycle.
Germany is facing economic challenges and high energy prices, which have led to concerns about its energy strategy and the rise of right-wing parties, potentially impacting Germany's ability to achieve its sustainability goals and causing businesses to move operations to countries with cheaper energy.
Zambia's Mopani Copper Mines experienced a decline in output, leading to increased losses in the first half of this year, which is further straining the company's finances after suffering a significant loss last year; however, plans are underway to sell the mines to potential buyers Sibanye Stillwater and Zijin Mining Group, with the new investor expected to invest in completing projects to raise copper output.
Investor morale in the euro zone fell more than expected due to Germany's economic weakness, with the situation being described as "precarious" and potentially leading to a global recession.
Inflation in Turkey reaches highest level since December 2022, with prices increasing nearly 60% compared to last year, fueled by the depreciation of the Turkish lira and independent economists suggesting consumer prices have risen as much as 128%.
Chinese Premier Li Qiang will attend the G20 Summit in India, while President Xi Jinping will not be present due to China's policy of not sending its two most powerful leaders abroad at the same time.
Equities rose on Monday as market participants speculated that the Federal Reserve may be nearing the end of its interest rate hike cycle, following a positive US jobs report and signs of a softening labor market. Additionally, investors were hopeful that China would implement measures to stimulate its economy and property sector.
German exports fell 0.9% in July, less than expected, due to global demand weakness and supply-chain friction.
A woman in San Francisco has managed to live off of $50 per month by cutting back on non-essentials like social activities and beauty services, while a study found that the average American spends almost $165 daily.
India is closely monitoring steel imports from China, which reached a five-year high in the first four months of this fiscal year, amid concerns of potential dumping by Chinese sellers and a fall in domestic steel prices due to surplus sales in the local market.
European car manufacturers face an unwinnable battle with China as the EU proceeds with its ban on petrol cars, according to the CEO of BMW.
Italy is planning to exceed its targeted budget deficit for 2023, due to costly fiscal incentives for home improvements, which are expected to impact the country's state finances and potentially lead to further deviations from targets in the future.
Egypt's state grains buyer, the General Authority for Supply Commodities (GASC), has purchased around 500,000 metric tons of Russian wheat in a private deal at a price lower than those offered in traditional tenders, as Egypt shifts towards direct purchases in the aftermath of the war in Ukraine disrupting its buying.
IMF Managing Director Kristalina Georgieva commends "productive and substantive" discussions with Chinese officials, including Premier Li Qiang, regarding the status of the world economy and measures taken by China to achieve its growth goals.
UK house prices have experienced their largest decline in 14 years, but despite fears of an impending crash, experts believe that the drop is unlikely to reach the levels seen during the global financial crisis in 2008 due to a more stable financial system, although prices may continue to slowly decline or stagnate and be eroded by inflation.
Egypt's state grain buyer, the General Authority for Supply Commodities (GASC), purchased around 480,000 metric tons of Russian wheat in a private deal, negotiating lower prices than traditional tenders, as the country continues to shift towards direct purchases due to disruptions caused by the war in Ukraine.
The US economy added more jobs than expected in August, but the overall unemployment rate rose, indicating a growing labor force.
New Delhi's $120 million "beautification project" ahead of the G20 summit has led to the displacement and loss of livelihood for many of the city's poor, raising concerns about the government's policies on poverty.
Asian stocks, particularly China shares, have continued to rally amid speculation that Beijing's small policy measures could result in significant stimulus, with expectations of a relaxation of property buyer restrictions; Japanese shares have also seen positive performance after data revealed record recurring profits in Q2, resulting in the Topix reaching a 33-year high; U.S. futures imply a high probability of no interest rate hike this month and suggest the tightening cycle may be over, while Treasuries sold off on Friday, leading to concerns over the budget deficit and potential difficulties in absorbing new debt.
The dollar remained stable as investors weigh US jobs data that showed signs of cooling and the likelihood of the Federal Reserve ending its monetary tightening cycle.
Despite facing criticism and challenges, Liz Truss made some correct decisions during her premiership, including prioritizing economic growth, criticizing flawed fiscal frameworks, and recognizing the need for more sustainable interest rates. However, the negative market response to her policies, combined with opposition within her own party, led to her downfall.
Indian shares advanced on Monday, driven by the metals sector supported by China's measures to boost its property sector and expectations of a U.S. Federal Reserve rate pause, with small-caps and mid-caps outperforming blue-chips on sustained retail inflows.
The caretaker government in Pakistan plans to provide relief to power consumers, with a reduction of Rs13,000 for those with bills ranging from Rs60,000 to Rs70,000, amid nationwide protests over increased electricity bills; talks between the government and the IMF are underway on the matter.
New Delhi's $120 million beautification project ahead of the G20 summit has led to displacement and loss of livelihood for street vendors and the city's poor, raising concerns about the government's approach to poverty.
India has experienced political stability under Prime Minister Modi, leading to legal reforms, improvements in welfare systems, and infrastructure development, which has positioned the country for growth and influence in various spheres, including space exploration, sports, and entertainment, but challenges such as poverty, education, and employment still need to be addressed.
The proposed expansion of the BRICS grouping to include Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates will increase the group's share of global GDP to 30% and its population share to 46%, with Saudi Arabia contributing the most at 4%.
Chinese stocks surged as the government implemented additional measures to support the property sector, signaling a determination to boost the economy by addressing issues in the struggling housing market.
Chief of Army Staff (COAS) General Asim Munir has pledged to bring transparency to dollar exchange and interbank rates, and to incorporate money exchanges under taxation, during a meeting with the business community in Lahore.
The PML-N, Pakistan's former coalition government party, is facing public anger and criticism over inflated power bills and the economic crisis, while some party members believe that the presence of party leadership in London is detrimental to their public image.
Most engineering firms in Pakistan blame the scarcity and poor supply of electricity for their inability to meet production goals and achieve operational efficiency, hindering their competitiveness, according to a survey conducted by the Pakistan Institute of Development Economics (PIDE). Additionally, the study found that 95% of firms reported having no access to finance, hindering their growth potential.
Pakistan's Chief of Army Staff, General Asim Munir, outlines key economic policies and assures a stable business environment during a meeting with top businessmen in Karachi, reflecting similarities with former military dictator Zia-ul-Haq's approach.
Thousands of Burning Man festival-goers are stranded in deep mud after heavy rain turned the Nevada desert gathering into a quagmire, leading to cancelled events and one death investigation.
The main problem with electricity consumption in Pakistan is that households, rather than productive sectors like industry, are the main consumers, leading to high bills and a lack of economic growth.
US-based Ciena Group, owner of National Steel Complex Limited (NSCL), has secured iron ore mining leasing rights in Pakistan as part of its strategy for backward integration and revival of the steel plant.
Iran, with petrol prices as low as 3 cents a litre, is facing challenges as it taps into reserves and imports petrol to meet increasing demand.
The Kerala state government will withdraw Rs 1700 crores from welfare boards to meet daily expenses, as it faces a fiscal crisis and a reduction in credit limit by the Centre, with hopes that the money will be returned by December to avoid affecting the state's credit limit.