Singapore will launch a new SkillsFuture Level-Up programme that includes a S$4,000 credit top-up in May for Singaporeans aged 40 and above to help mid-career workers refresh their skillsets and promote lifelong learning.
The United States has experienced significant inflation post-pandemic, with prices increasing more than in the previous decade, leading to a rise in the cost of living; this article provides a list of the 20 cities with the highest cost of living in the US.
Singapore's Budget 2024 aims to address immediate challenges such as cost-of-living pressures and invest in longer-term goals of economic growth and job creation, and includes enhancements to the Assurance Package, top-ups of SkillsFuture credits, corporate income tax rebates, and strategies to improve retirement adequacy and healthcare costs.
India Inc On The Move 2024, an event in collaboration with Rockwell Automation, aims to address the challenges and opportunities in the manufacturing sector, with a focus on fostering smart and sustainable practices to support India's goal of becoming a 5-trillion-dollar economy by 2026-27.
U.S. stocks were slightly down due to an unexpected increase in inflation, dampening hopes of interest rate cuts by the Federal Reserve.
Tanzania is facing resource crises including shortages in sugar, electricity, and dollars, leading to increased prices and disruptions in various sectors.
The text discusses GDP per person and its importance in determining the wealth of a country, and it provides a list of the top 10 richest countries in 2024 based on GDP per capita, with Luxembourg being the richest. It also mentions India's GDP per capita, which is lower compared to other countries, but highlights that India's overall economic output is significant.
The Kenya Mortgage Refinance Company (KMRC) has increased the income limit for borrowers to KSh200,000, making their loans accessible to Kenyans with a monthly income of up to that amount, a relief for the middle class as mortgages from commercial banks become more expensive.
The International Monetary Fund's proposal to increase imports could potentially destabilize the rupee-dollar exchange rate, according to market sources, as it would put pressure on the exchange rate and may require further IMF assistance.
The Kenyan government is focused on utilizing ICT and the digital space to drive economic growth, create jobs, address healthcare challenges, and reduce revenue leakages, with initiatives such as the Jitume Digital Enablement Programme and Ajira Digital Programme training and employing hundreds of thousands of youths in digital skills and entrepreneurship, while also working on improving internet accessibility, lowering costs, and developing policies to guide the digital job market and ensure employee welfare. The government is also implementing the Digital Superhighway Project to expand fiber optic infrastructure, establish Wi-Fi hotspots, and create digital hubs in every ward, aiming to enhance digital connectivity at the local level. The issue of splitting M-Pesa from Safaricom is still under debate, and the Loon Balloon internet project was discontinued due to commercial viability issues, but the government remains committed to digitalization efforts to create a paperless government and a thriving digital economy.
Japan's economy has unexpectedly contracted, pushing the country into a recession and causing it to lose its spot as the world's third-largest economy to Germany, with weak domestic consumption being a major factor.
On February 16, investors should watch for several events on Wall Street, including quarterly reports from TC Energy, Vulcan Materials, and Cinemark Holdings, as well as speeches from San Francisco Fed President Mary Daly and Fed Vice Chair for Supervision Michael Barr, and the release of economic data on housing starts, building permits, and the producer price index.
The American public's economic outlook is improving, with more people predicting economic growth and fewer fearing a recession; however, concerns about President Joe Biden's age-related issues persist, and opinions on his cognitive health remain divided along partisan lines. While Americans show bipartisan support for defending NATO and sending aid to Ukraine, most want Biden to encourage Israel to decrease its military actions in Gaza. Both Biden and congressional Republicans receive negative ratings for their handling of the U.S.-Mexico border, and there is a desire for Biden to communicate more with the nation, although his appearances do not significantly impact public views.
Chinese investors, particularly members of the middle class, are searching for low-risk investments to preserve their wealth as traditional investment avenues like real estate and the stock market offer less security in a slowing economy; large-denomination certificates of deposit, gold, and universal life-insurance policies are gaining popularity as safer alternatives.
The Canadian labour market downturn is disproportionately affecting young people, particularly young women, driving many of them out of the workforce, with the labour participation rate for those aged 15 to 24 falling to 62.7%, the lowest level since 2000, and the number of youth non-participants rising by approximately 200,000 over the past year to 1.9 million.
The latest report from the Bureau of Labor Statistics shows that inflation rose 3.1% in January, prompting savers to consider opening a certificate of deposit (CD) account to earn higher returns and protect their funds.
The UK government could revive the economy without triggering inflation or unsettling global financial markets by unfreezing tax thresholds and implementing a wealth tax, devolving power to cities and regions, lowering interest rates, supporting housing associations, and helping the long-term sick return to work.
The United States economy continues to grow while other major economies, such as Japan and the United Kingdom, are facing recession; this can be attributed to strong consumer spending and government stimulus.
The Dow Jones rises by nearly 350 points as weaker-than-expected retail sales alleviate concerns about inflation.
The UK has officially entered a recession as GDP fell by 0.3% in the last three months of 2023, marking two consecutive quarters of decline.
Citi's chief economist predicts that the US economy will experience a recession in mid-2024, citing signs of decline in economic data such as job reports, rising credit card delinquency rates, and a larger-than-expected drop in retail sales activity.
President Biden criticizes the practice of shrinkflation, where product sizes are reduced while prices remain the same, labeling it as a form of corporate greed and a rip-off for consumers.
Persistent inflation during Biden's presidency could pose challenges for his re-election in 2024, as consumers are feeling the impact of rising prices and may be nostalgic for the stronger economy during the Trump era.
Hotter-than-expected inflation data and weaker retail sales have raised concerns about the US economy, according to Allianz Chief Economic Advisor Mohamed El-Erian, who warns that the path to the Fed's inflation target will not be smooth and that individual name selection will be critical for investors going forward.
US mortgage rates have increased due to strong employment and inflation reports, potentially slowing the spring homebuying season, with mortgage applications to buy a home down in more than half of all states compared to a year earlier, according to Freddie Mac's chief economist Sam Khater.
Mortgage rates are increasing due to higher-than-expected inflation data and concerns about the Federal Reserve cutting its benchmark interest rate.
Lael Brainard, a top Biden economic adviser, continues the administration's push to address grocery store and food company prices amid concerns over inflation ahead of the presidential election.
Italy is experiencing faster economic growth than Germany, despite Germany's struggles with Russia, China, and fiscal policies.
Chile's political landscape has been marked by turmoil and instability since 2019, including the election of a left-wing president, failed attempts to write a new constitution, and deadly forest fires, raising questions about the country's ability to regain stability and move forward.
The United States lags behind Europe and Asia in offering adaptive driving beam (ADB) headlights, a lighting technology that shapes light beams to avoid blinding other drivers, due to strict regulations that make it difficult for automakers to add the feature. While ADB-enabled headlights are already sold in some luxury cars in the US, they lack the software to function properly, and it will likely be years before ADB headlights are widely available.
Daily Kos is urging people to get involved in the upcoming elections and is standing in solidarity with the Black community.
January's weaker-than-expected retail sales indicate a potential decline in consumer resilience as higher interest rates start to impact the economy and pressure consumers, although spending may continue as long as people have jobs, according to Sameer Samana, Senior Global Market Strategist at the Wells Fargo Investment Institute.
US markets react negatively to higher-than-expected inflation, while China faces deflation, causing declines in spending and stock prices.
The UK economy entered into a recession at the end of 2023, with a 0.3% contraction in the last quarter of the year, due to reduced consumer spending, doctors' strikes, and decreased school attendance, raising questions about Chancellor Rishi Sunak's promise to grow the economy.
The UK slipped into a recession in the final quarter of last year, posing a challenge to Prime Minister Rishi Sunak's economic growth plans and providing ammunition for the opposition Labour party. The country experienced a second consecutive three-month period of falling output, with the economy shrinking by 0.3% in the three months to December. This follows a drop of 0.1% in the previous quarter, making it the definition of a technical recession. However, Sunak remains optimistic, claiming that "the economy has turned the corner."
BlackRock believes that ongoing wage pressures will push inflation higher, preventing the Federal Reserve from cutting rates as much as the market expects.
U.S. import prices increased by the most in nearly two years in January, driven by rising costs for petroleum and other goods, posing a potential challenge in the fight against inflation.
US retail sales fell more than expected in January, indicating that shoppers may be feeling the strain of higher interest rates and other financial obstacles.
The number of Americans filing for jobless claims decreased, indicating resilience in the labor market despite efforts to cool economic growth with elevated interest rates.
US retail sales plummeted by 0.8% in January due to cold weather, surpassing economists' expectations of a 0.1% decline and marking the second decline in the past 10 months.
The cost of imported goods increased by 0.8% in January, mainly driven by rising gas prices and other categories also showed increases, according to the government.
Initial jobless claims for the week ended Feb. 10 fell by 8K to 212K, beating expectations, while the four-week moving average increased slightly; continuing claims also exceeded expectations.
The New York Fed's Empire State business-conditions index rebounded in February, but remained in negative territory, indicating continued weakness in manufacturing activity in the state.
Canadian Tire Corp. reported a sharp drop in sales and profit for Q4 2023, citing reasons such as mild winter weather, high interest rates, and a consumer pullback on non-essential purchases. The company is facing challenges in the economic environment, leading to a decline in net income and reducing spending targets.
Boston is expected to lose over $1 billion in tax revenue over the next five years due to declining office building values caused by the pandemic and hybrid work, according to a new analysis, which highlights the city's vulnerability to dwindling commercial real estate values compared to other cities.
Surging auto insurance premiums, along with other factors, are contributing to high inflation and placing financial strain on U.S. households.
Germany has surpassed Japan as the world's third-largest economy and Japan has slipped into a recession due to a weak yen and an aging, shrinking population.
The current economic environment, marked by external shocks and inflation, bears similarities to the post-World War II period, providing insights into what may lie ahead for the U.S. economy.
FedEx founder and executive chairman Fred Smith warns that America's national debt, which has surpassed $34 trillion, is unsustainable and could lead to a catastrophic fiscal crisis if not addressed by political leaders.
The European Union's economy entered 2024 with subdued momentum as the European Commission downgraded its growth forecast, although a gradual resurgence is expected in the latter half of the year, accompanied by declining inflation rates and increased investment. However, challenges such as Germany's weak economic activity and labour shortages remain, and there are notable disparities in growth outlook across member states.