China's economic slump, including a real estate crisis and high youth unemployment, coupled with rising tensions with the West, could lead to deflation and sluggish growth that could spread to the rest of the world, impacting global GDP growth and potentially causing a new normal of slower economic growth.
China's economic struggles, including a real estate slump, high youth unemployment, and rising tensions with the West, could lead to deflation and sluggish growth, potentially impacting the global economy and causing a "new normal" of slower GDP growth worldwide.
A new plan filed by a federal control board overseeing Puerto Rico's finances aims to reduce the debt of Puerto Rico's Electric Power Authority by almost 80%, to about $2.5 billion, in an effort to resolve the largest public sector bankruptcy in the US, but it could result in increased power bills for many residents on the island.
US Secretary of Commerce Gina Raimondo's visit to China will test the sincerity of the US in pursuing dialogue, particularly regarding the country's restrictions on tech exports, according to Chinese experts. Both sides remain committed to dialogue despite strained bilateral relations, but the US must demonstrate actual efforts rather than just rhetoric to improve economic and trade relations.
Defaults on properties such as offices and apartment buildings are expected to increase as property values fall and costs rise, posing a challenge for landlords who need to refinance at higher interest rates.
India's real estate sector is projected to reach $5.8 trillion by 2047, contributing 15.5% to the GDP, driven by significant expansion in the economy and increased private equity investments, according to a report by Knight Frank and Naredeco.
India's G20 Sherpa Amitabh Kant outlines India's positive agenda for the country's presidency of the G20, with a focus on digital transformation, infrastructure building, and women-led development. India has made significant achievements in areas such as housing, sanitation, water supply, and digital payments, and aims to promote inclusive growth, accelerate sustainable development goals, take climate action, and prioritize technological transformation and women's empowerment during its presidency.
Analysts warn that China's ban on Japanese aquatic products in response to the discharge of Fukushima nuclear waste water could have negative consequences for China's seafood sector and further strain bilateral trade between the two countries.
Indian Prime Minister Narendra Modi has called on the people of Delhi to help ensure the success of the upcoming G20 Summit, despite the inconvenience they may face due to the presence of world leaders in the capital.
Prime Minister Narendra Modi emphasized the importance of heritage in driving economic growth and promoting international cooperation in his address at the G20 Culture Ministers' Meeting. He highlighted India's efforts to map cultural assets, promote traditional crafts, and preserve its rich cultural heritage.
Paying off your home loan faster by making additional principle payments can lead to early loan completion, reduced interest burden, and financial independence.
The contraction in euro area business activity has intensified, particularly in Germany, leading to expectations that the European Central Bank will pause its interest-rate hike campaign; US mortgage applications for home purchases have hit a three-decade low due to rising borrowing costs; South Korea's exports continue to decline, indicating lackluster global trade; Turkey's interest-rate increase has triggered a rally in the country's assets; shrinking water levels at the Panama Canal due to climate change may cause delays in restocking inventories before Christmas.
The economic and political instability in Pakistan has led to a sharp rise in highly skilled workers leaving the country, exacerbating the already dire economic situation and creating a significant skills gap that may hinder the country's development in the long term.
A woman living in Canada expresses her frustration with the high cost of living in the country, stating that many residents live to pay bills.
India's successful Digital Public Infrastructure (DPI) ecosystem, which includes Aadhar and Unified Payment Interface, has been endorsed globally and can serve as a model for creating a reliable and trustworthy AI ecosystem through collaboration, global standards, openness, transparency, and responsible policy measures.
Turkish investors show interest in investing in various sectors in Afghanistan, prompting discussions on establishing a joint commerce chamber and increasing trade between the two countries.
Persistent and prolonged electricity interruptions in Addis Ababa have sparked frustration among residents, with daily, unscheduled blackouts disrupting daily life and businesses. Officials have acknowledged technical issues but have not provided a clear plan to resolve the crisis.
India's economy is facing challenges as GDP growth declines, investment demand weakens, inflation rises, and job creation remains a major concern, highlighting the need for a comprehensive economic plan to address these issues.
The French government has set aside €200 million to destroy surplus wine production in the country due to challenges caused by a fall in sales, changes in consumption habits, and the impact of the Covid-19 pandemic. The funding aims to support struggling wine producers and prevent prices from collapsing, while encouraging the industry to adapt to changing consumer patterns.
India, China, and Indonesia are predicted to have the largest working-age populations among G20 countries by 2030, indicating a shift in economic geography towards Eastern nations, according to a report by McKinsey, which also highlights the varying trends of sustainability and inclusion among G20 economies.
Mortgage rates in the US are at a 22-year high, impacting the already tight housing market due to high prices, and economists predict that rates will remain elevated for a few more months before starting to come down, but are expected to settle well above the rates seen during the early stages of the pandemic.
A McKinsey Global Institute report highlights the need for $37 trillion in cumulative spending power increase by 2030 to achieve global economic empowerment, focusing on fulfilling essential needs such as nutrition, housing, healthcare, and education while also addressing environmental concerns. Economic empowerment and sustainability must go hand in hand, requiring additional investment of $47 trillion to achieve net-zero emissions, resulting in a total global investment of $84 trillion by 2030. While businesses and the market economy can contribute half of these resources, bridging the remaining gap will require new policies and incentives.
Russia plans to increase its marine product exports to China following China's ban on Japanese seafood imports after concerns about radioactive water released from the Fukushima nuclear power plant, with Russia being one of China's largest seafood suppliers.
Green Hydrogen is hailed as the "fuel of the future" by Union Minister Hardeep Puri, who emphasizes the importance of domestic demand and production for its success and urges investment in renewable energy to completely end fossil fuels.
China's property developers are facing a debt crisis and the country's economy is in a worse state than it was in the 1970s, raising concerns about a broader financial crisis, according to analyst Charlene Chu.
France aims to become a leading green nation in Europe by prioritizing investments in green industry while slashing public spending and reducing debt levels, according to economy minister Bruno Le Maire. The country also plans to implement a 'Green industry' bill to support the creation of new sites in renewable energy sectors and decarbonize existing plants.
India aims to become a $35 trillion economy in 25 years, with a plan to add $30 trillion to its economy in the coming years, according to Union Minister Piyush Goyal.
The International Monetary Fund reports that nations around the world indirectly subsidized fossil fuels by $7 trillion in 2022, despite the increasing dangers of greenhouse gas emissions and global heating.
India's economy is experiencing consistent growth, and is predicted to become the fourth-largest economy within 18 months and the third-largest by 2028, driven by strong fundamentals and infrastructure development, while successfully reducing poverty; however, further reforms in areas such as patents, judicial, administrative, and process reforms are needed to boost economic growth.
Insurance companies are struggling to keep up with the rising prevalence of natural disasters and the potential for catastrophic losses.
There is an 80% chance of a tropical depression or tropical storm developing in the western Caribbean Sea, with potential landfall along the Florida coast and potential impacts in the Coastal Empire and Lowcountry by mid-week.
India is experiencing significant political and cultural changes as Hindu nationalism and neoliberal economic ideas reshape the country, benefiting new elites and the middle class while negatively impacting the working class. This transformation is influenced by the "Gujarat model" of development, characterized by collaboration between the state and the corporate sector, low wages, tax holidays, and land acquisition. Additionally, India has shifted towards the right politically, with a move towards neoliberalism leading to a market-oriented economy and a decline in social spending. This has had negative consequences for the working class, and the rise of neoliberalism has created more space for the politics of Hindutva. The ruling Bharatiya Janata Party has successfully cultivated support among the emerging middle class, which values individualism and the ownership of private property. With the growing influence of the middle class and the close ties between the government, industry, and finance, India has experienced a preference for governance by decree or judicial decisions rather than democratic decision-making. This has led to the dominance of Hindutva and the erosion of basic rights for minority groups.
Mumbai City coach, Des Buckingham, expressed his excitement about facing Neymar and Al-Hilal in the Asian Champions League, highlighting the significance of having such high-caliber players in India.
Caretaker Finance Minister Shamshad Akhtar has assured the International Monetary Fund (IMF) of steadfast implementation of policy actions committed under the $3bn Standby Arrangement in order to maintain economic stability during the tenure of the caretaker government.
The shareholding structure of K-Electric Ltd, Karachi's only power utility, has been the subject of dispute as two groups of shareholders are fighting over the right to nominate directors to the board, with one group claiming to be the majority shareholder, despite objections from the other group.
The Pakistani stock market closes lower due to concerns about the weak rupee and a bleak economic outlook, despite some support from MSCI raising Pakistan's weight in its Frontier Markets Index.
Short-term inflation in Pakistan increased by 25.34% on a year-on-year basis due to a surge in prices of kitchen items, although it decelerated from the previous week's rate of increase.
The Pakistani rupee weakened further against the US dollar in the interbank market due to higher demand and uncertainty, while the open market remained stable; however, insiders noted that currency dealers were selling the dollar at higher rates in the open market.
JS Bank Ltd has acquired 67.33% shares of BankIslami Pakistan Ltd through agreements with major shareholders and a public offer, allowing JS Bank to make BankIslami a subsidiary and benefit from dividend income and growth in Islamic banking.
The Pakistan Peoples Party (PPP) is demanding general elections within 90 days and claims it approved the digital census results with the condition that it wouldn't delay the polls, suggesting a potential legal course if the Election Commission of Pakistan does not meet the constitutional deadline.
France has allocated €200 million to address surplus wine disposal and provide assistance to wine producers facing challenges due to a decrease in demand, overproduction, and the cost of living crisis.
Pakistan's weekly inflation remained up at 0.05 percent week-on-week and 25.34 percent year-on-year, driven by rising food prices, particularly onions, pulse masoor, sugar, garlic, and eggs.
The Organised Private Sector is concerned about potential job losses in Nigeria's economy following a decline in GDP growth in the second quarter of 2023, with manufacturers already cutting jobs and divesting from the country.
The Russian economy is facing several major issues, including a labor shortage, soaring inflation, a tumbling ruble, the risk of recession, a real estate bubble, and the nationalization of foreign businesses, which could lead to stagnation and a fall in GDP growth in the long term.
China's regulators are struggling to attract global funds to invest in the country's stocks due to a lack of strong stimulus measures to support growth, resulting in a slump in the MSCI China Index and significant outflows from the mainland market.
The burning question in the financial markets is how long interest rates, currently at multi-decade highs, will remain at their current levels as central bankers gather in Jackson Hole, Wyoming.
The Anthropocene is a new epoch in Earth's history defined by the impact of human activities, marked by imprints such as plastic pollution and increased carbon dioxide levels, with the clearest marker being radioactive plutonium from nuclear testing in the 1950s.
European Central Bank President Christine Lagarde and Federal Reserve Chair Jerome Powell have both stated that there will be no change to their shared objective of achieving a 2% inflation target, despite the challenges posed by the global economy emerging from the pandemic.
The S&P 500 has recovered 65% of last year's bear-market drop, but when adjusted for inflation it is only about 45%, highlighting the diminished buying power and implying implications for the economy and future Federal Reserve policy.
Federal Reserve Chairman Jerome Powell signaled at a conference of central bankers that more rate hikes could be on the way as the economy continues to run hot, despite a series of policy tightening measures, in an effort to combat persistent inflation.