China's industrial profits are expected to rebound in 2024, with an increase of up to 11%, due to improved US export outlook and supportive policies from Beijing.
The Indian economy is expected to grow over 7% in the next few years, making it the third-largest economy globally, driven by domestic demand and supply-side measures, according to a report from the Ministry of Finance, while highlighting potential risks from geopolitical conflicts and global economic shocks. The report also discusses key challenges such as the end of hyper-globalization, the impact of artificial intelligence on services trade and employment, and the energy transition, but states that the Indian economy is better prepared to tackle these challenges due to infrastructure development and a healthy financial sector.
The European Union has reportedly threatened to undermine Hungary's economy by triggering a run on its currency and collapsing investor confidence if it blocks an aid package for Ukraine, according to a confidential document.
Kenya has suffered a $200 million loss over the past three months due to an oil dispute with Uganda, which has chosen to partner with Tanzania for oil imports instead. The loss is expected to increase, and there are fears that Kenya's investments in oil infrastructure will be jeopardized if the dispute continues.
Germany is set to experiment with a 4-day work week for six months to determine if it can improve employee well-being and productivity, despite concerns from the Finance Minister that it may impact economic growth.
A higher proportion of UK-listed companies issued profit warnings in 2023, exceeding those issued during the financial crisis in 2008, with over 18% of firms issuing warnings due to high interest rates and weakening confidence.
The Ghana Revenue Authority (GRA) has collected GH¢113.06 billion in tax revenue for the 2023 fiscal year, surpassing the revised target of GH¢109.19 billion, with domestic tax revenue contributing the majority of the total revenue.
The US is offering funds to Vietnam's chip sector to strengthen supply chains and decrease reliance on China, as part of its CHIPS and Science Act, which includes $500 million for semiconductor training, cybersecurity, and business climates globally.
Manufacturers in Kenya have become the largest defaulters of loans, surpassing traders, due to rising operational costs caused by inflation, taxes, and increased interest rates, leading to a surge in non-performing loans.
China's troubled real estate sector faces a setback as the Hong Kong High Court orders the liquidation of Evergrande Group, the world's most indebted property developer, which could have ripple effects on the country's economy.
The dollar remains steady as US economic data boosts investor confidence ahead of the Federal Reserve policy meeting, while geopolitical tensions in the Middle East keep risk sentiment in check.
The caretaker government in Pakistan is seeking a reduction in the federal development budget, with the IMF estimating a Rs175 billion cut in the overall development program of the federal government and provinces. The proposal includes a cap on federal financing to provincial projects and guidelines for the Public Sector Development Program for the next fiscal year. The discussion takes place before the elected government is expected to take office three months ahead of the next year's budget.
The US economy is experiencing strong growth and low inflation, creating a dilemma for the Federal Reserve on whether to implement rate cuts to sustain the economy's soft landing or risk rekindling inflation. Additionally, the Fed's decision-making may have political implications in an election year.
The chairman of JLL Hong Kong, Joseph Tsang, predicts that the recovery of Hong Kong's property market will be impacted by a price war caused by an increase in inventory levels and the ongoing tension in US-China relations, with the only hope for recovery being an economic rebound in mainland China.
Houston, The Woodlands, and Sugar Land have the 7th highest inflation rate in the U.S., according to a study by personal finance experts WalletHub.
Manufacturers in Nigeria are predicting an increase in commodity prices due to the continued depreciation of the naira against the US dollar, resulting in low demand and impacting businesses' bottom lines. The fall in the national currency has also contributed to high inflation rates in the country, and efforts by the Central Bank of Nigeria and the government to address the issue have had limited success so far. The International Monetary Fund attributes the decline of the naira to excess currency in circulation and structural factors in the market, while the World Bank believes that reducing inflation will improve the value of the currency.
Job vacancies in the UK experienced the largest drop in over three years in December 2023, signaling a cooling labor market and potentially difficult year for jobseekers.
The Ghana Revenue Authority (GRA) exceeded its revenue collection target for the 2023 fiscal year, recording a 49.3% growth rate, the highest in the last 20 years, and achieving the highest tax-to-GDP ratio in the last six years, attributed to intensified compliance activities, increased corporate income tax payments from banks, and improved revenue performance measures.
A study conducted by WalletHub identifies the 15 unhappiest states in the US in 2024, with factors such as emotional and physical well-being, work environment, and community and environment taken into account; Wyoming, Ohio, Oregon, Texas, Indiana, Oklahoma, New Mexico, Alaska, Mississippi, and Alabama are among the states with the lowest happiness scores.
China's declaration of an economic recovery has not been successful in restoring confidence among foreign businesses and investors due to challenges related to national security, data flows, and market barriers, prompting doubts about increasing investments in China and consideration of overseas opportunities.
Asian markets await the Federal Reserve's decision on interest rates and the release of Chinese PMI data as sentiment towards China rebounds, while positive U.S. GDP data and China's efforts to bolster its markets contribute to a global surge in "risk on" sentiment.
Economic data released last week suggests that inflation is on a sustained downtrend, contrary to Republican candidate Nikki Haley's comments about an economy in shambles.
House prices in Wales have experienced their largest decline since 2009, with an average drop of 6% from the previous year, however, prices still remain significantly higher than they were five years ago.
High interest rates and inflation in Australia are causing financial strain for homeowners, leading to discussions about alternative measures such as raising superannuation contributions or GST, increasing taxes on banks, regulating corporate profit margins, or temporarily adjusting the inflation target.
The last week of January is filled with important economic events, such as central bank decisions, US jobs data, tech company earnings, and GDP data for Germany and the Euro Area, which will influence the financial markets.
The rising cost of living is preventing unemployed young people from accepting job offers due to the financial burden of associated costs such as clothing and transportation, according to a study by the Prince's Trust, which indicates that these financial pressures have a detrimental impact on education, employment, and overall well-being.
Pictet, a top bond investor, has warned that both the Conservatives and Labour risk reigniting the debt crisis in the UK with reckless tax cuts or spending plans, and the markets will be quick to punish financial recklessness.
Nigeria's debt per capita has significantly increased under President Bola Tinubu, with the country's total public debt reaching N87.91 trillion and each Nigerian owing about N405,520.
Musk's X plans to hire 100 content moderators in Austin to combat child abuse content; Biden administration expresses concerns about a proposed language law in Quebec; Canadians gather to bid farewell to former NDP leader Ed Broadbent; US chicken prices expected to drop due to the renewable fuel industry; Chevron warns that California's climate policies could cause gasoline price spikes; Mali, Burkina Faso, and Niger withdraw from West Africa regional bloc ECOWAS; and a discussion on checking accounts and cars that are losing value.
More than a fifth of Britons are choosing to work from home to save money on food and drink, as rising prices and increased costs have made eating lunch out more expensive. This trend, dubbed the 'Lunch Crunch', has led to workers avoiding the office and opting for homemade lunches instead.
The emerging renewable fuel industry's production of plant-based jet fuel and diesel, which requires vast amounts of soybeans, will lower the cost of animal feed, leading to a drop in meat prices for consumers in the US.
Wealth inequality will take centuries to address, while big corporations contribute to the problem through labor laws, tax evasion, and climate change, according to reports from Oxfam International.
The United States has experienced a strong economic recovery from the pandemic, with GDP growth, low inflation, and increased wages, largely due to the government's fiscal policy response and high levels of spending, which sets a new approach for future downturns.
Many Americans, like restaurant owner Steve DelGiorno, are still experiencing rising prices despite the Federal Reserve's low inflation statistics, highlighting the challenge of convincing people that price stability has been achieved.
Investors in emerging-market debt are optimistic that the Federal Reserve's potential interest rate cuts will lead to a windfall for holders of local-currency bonds, particularly in Latin America, as central bankers in emerging markets are more likely to ease their monetary policy.
The U.S. economy is outperforming its major trading partners, with strong growth and higher wages, thanks to swift and substantial government spending in response to the pandemic.
Central bankers face the challenge of bringing inflation down from 5.4% to their target of around 2% as labor markets are not cooperating, with high wage growth and strikes making it difficult to control inflation.
The Bank of England is facing the challenge of when to start cutting interest rates, as savers celebrate bumper returns but inflation and economic growth remain uncertain.
New York City's millionaire class has grown significantly during the pandemic, despite lower-income residents leaving, with the increase in the wealthy population attributed to a strong economy and rising wages rather than high taxes. However, concerns arise about the city's amenities and industries if it loses its middle-income workers, leading experts to suggest taxing the rich to fund public services and retain the middle and working-class populations.
The first fall in interest rates in the UK is expected to come in May due to an upgrade in the Bank of England's growth outlook and a decline in inflation, as well as the anticipated rate cuts by other central banks, and positive forward-looking indicators for the UK economy.
Clean energy production has surpassed coal for the first time in the US, with renewable energy sources generating approximately 21% of the country's total electricity in 2022, demonstrating the increasing affordability and growth of renewables.
Pakistan has requested $2 billion in financial assistance from China to alleviate its severe financial crisis and the burden of its external debt, which has reached $128.1 billion.
The uncertainty surrounding the next U.S. president is not a major concern for Wall Street at the moment, with banking experts predicting a market rally regardless of who takes office in January. Analysts emphasize the importance of continuity in economic performance rather than proposed policy, and advise investors not to base their portfolios on politics. Despite some volatility during election years, historical data indicates that elections are generally a nonissue for portfolios and the markets.
China's struggling economy and high levels of joblessness among young people have led to a generation of disillusioned Chinese individuals who are facing uncertainty and have had to exhaust their savings, take on unpaid internships, or work multiple jobs to secure employment.
The rupee's depreciation is unlikely during the current fiscal year due to high inflation and efforts to strengthen the currency to combat imported inflation.
China has resumed reporting youth unemployment figures, but skepticism remains regarding the reliability of Chinese statistics and the health of the country's economy.
Billionaire bond fund manager Jeffrey Gundlach questions the accuracy of state unemployment data, as 88% of states are reporting rising unemployment while the national unemployment rate remains low, leading him to express skepticism about the overall state of the economy.
Kenyan manufacturers are planning to relocate to neighboring countries due to high taxes, falling currency value, and increased business costs, which could result in job losses and hinder productivity in the manufacturing sector.
The PML-N has released their election manifesto, promising to create 10 million jobs, reduce inflation and unemployment, abolish NAB, restore Articles 62 and 63, and prioritize economic growth and foreign relations if elected in the upcoming polls.
President Biden's administration is expected to provide billions of dollars in subsidies to semiconductor companies like Intel and Taiwan Semiconductor Manufacturing Co to spur the manufacturing of advanced semiconductors in the U.S.