The European Union's carbon border adjustment mechanism (CBAM) is now applicable to certain exports, causing concerns for small businesses regarding disruptions in the trade of industrial goods.
Saudi Arabia's Vision 2030 is transforming Riyadh into a global destination through eight mega-projects, including Sports Boulevard, New Murabba, Qiddiya, and King Salman Park, which aim to create sustainable urban spaces, promote sports and recreational activities, enhance cultural sites, and provide entertainment options for residents and visitors.
Tensions between India and Canada have escalated due to Canadian Prime Minister Justin Trudeau's allegation that the Indian government was behind the fatal shooting of Hardeep Singh Nijjar, leading to a dispute that could have negative consequences for both countries.
The Indian External Affairs Minister, Subrahmanyam Jaishankar, has criticized Canada for allowing violence, threats, and intimidation against Indian diplomats and missions, questioning whether the world would tolerate such behavior if it happened to any other country.
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.
China's factory activity experienced its first expansion in six months in September, signaling a gradual improvement in the country's economy, although challenges remain such as the property crisis and uneven economic rebound.
The soft landing scenario for the US economy is in doubt due to five economic shocks, including a potential government shutdown, rising oil prices, a strike by the United Auto Workers, the resumption of student loan payments, and high mortgage rates nearing 8%.
China's limited room for further monetary policy easing means it should prioritize structural reforms, such as encouraging entrepreneurs, to revive economic growth rather than relying solely on macroeconomic policies, according to a central bank adviser.
Republican infighting over budget legislation has increased the risk of a government shutdown in the US, potentially leading to thousands of federal workers without pay and negatively impacting the economy, including a reduction in GDP growth and a potential credit rating downgrade.
China's lottery ticket sales surged in August, reaching a record high for the year, potentially indicating growing economic concerns among young people.
Canada's accusations of assassination by Indian intelligence agents have resulted in a slowdown of lentil imports from Canada to India, impacting domestic pulse prices and potentially leading to further trade restrictions on Indian food exports to Canada, including agricultural fertilizers.
The US national debt is at $33 trillion, but the country doesn't necessarily need to pay it off, as they can issue new bonds and borrow to pay interest as long as the debt does not rise too much faster than revenue.
Italy plans to raise approximately €21 billion ($22.2 billion) through asset sales between 2024 and 2026 in order to reduce its debt-to-GDP ratio and address its public finances.
Countries around the world are facing shortages of essential foods due to export restrictions, climate change, and geopolitical conflicts, leading to skyrocketing prices and making it difficult for people to afford meals.
The Biden administration's plan to raise fuel economy standards through 2032 may result in over $14 billion in fines for automakers and is deemed unfeasible by the Alliance for Automotive Innovation.
A potential government shutdown in the United States could lead to furloughs, paused paychecks, and a significant economic impact, potentially costing upwards of $1 billion a week, while the stock market and interest rates may not be heavily affected.
Apple plans to increase its production in India more than fivefold in the next five years, aiming for $40 billion, as it manufactures iPhones in India and has plans to start making AirPods next year.
Americans are paying a lot more for groceries depending on the state they live in, with Hawaii having the highest monthly price tag per person at $556.76, according to new research by Now Patient.
Some of the most at-risk housing markets for climate-related damage are also the most overvalued, with about 19% of homes in high-risk states exposed to flooding or wildfires being overvalued by 18-30%, potentially leading to $1.3 trillion to $2.2 trillion in losses as the market rationalizes, according to experts at DeltaTerra Capital. The most overvalued markets are Cape Coral/Fort Myers in Florida for flooding and Riverside/San Bernardino in California for wildfires, which have already seen insurance companies pull out due to increased risk of extreme weather events.
The Future Hospitality Summit in Abu Dhabi will bring together hospitality leaders from over 50 countries for networking, discussions, and announcements centered around the theme of "Focus on Investment," with a particular focus on technology, sustainability, and entrepreneurship in the industry.
The Asian Development Bank (ADB) has lowered its GDP forecast for India for the fiscal year 2023-2024 due to a slowdown in exports and potential disruptions in agricultural output, but expects growth to be fueled by increased private investment and industrial production in the following year. The ADB also suggests that larger inflows of foreign direct investment (FDI) could surpass expectations and boost economic growth in FY25, particularly in the manufacturing sector.
The US economy has triggered the fourth and final signal for a potential recession, and historical data suggests that recessions will become more frequent in the future due to government interventions and other factors such as inflation, tightening monetary policy, oil price spikes, and tight government budgets.
Tech salaries in the US have experienced a 3% year-over-year decline and reached their lowest point in five years, while salaries in the UK have seen a 4% increase, according to a report by Hired. Junior talent has been hit the hardest, with a nearly 5% decrease in salaries. The demand for tech roles has also decreased, leading to concerns about a skills gap in the industry.
Former US treasury secretary Larry Summers has stated that India needs to achieve 8% economic growth in order to bring about significant improvements in the lives of its citizens, and has called for increased capital and authority for multilateral development banks to address challenges such as climate change and pandemics.
Negotiations between the Writers Guild of America and major film and television studios could lead to a deal as early as Sunday, potentially ending the nearly five-month-long strike by the union.
Mortgage approvals for house purchases have reached a six-month low in August, signaling a decline in lending and making it harder for buyers to secure homes due to rising interest rates; however, there is still hope that the market can recover if the Bank of England stops increasing interest rates and both buyers and vendors become more realistic.
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The White House is attempting to place blame for a potential government shutdown on House Republicans who have failed to pass a funding package and are refusing to honor a bipartisan spending agreement, while President Biden faces low poll numbers and economic concerns as he seeks re-election.
US Treasury Secretary Janet Yellen warns that a government shutdown could lead to a recession, with immediate harm and long-term repercussions for the economy.
The Federal Reserve is leaving its key interest rate unchanged as it moderates its fight against inflation, but plans to raise rates once more this year, as policymakers remain concerned about inflation not falling fast enough.
India and Canada are currently experiencing tension after Canadian Prime Minister Justin Trudeau alleged the "potential" involvement of Indian agents in the killing of Khalistani extremist Hardeep Singh Nijjar, a claim that India has vehemently rejected; the US has called on India to cooperate with Canada in the investigation, while India has reduced its diplomatic staff and stopped visa services with Canada.
The Federal Reserve is expected to keep its benchmark lending rate steady as it waits for more data on the US economy, and new economic projections suggest stronger growth and lower unemployment; however, inflation remains a concern, leaving the possibility open for another rate increase in the future.
China's population of 1.4 billion would not be enough to fill all the empty apartments in the country, which has been facing a crisis-hit property market, according to a former official.
Existing home sales fell 0.7% in August due to limited supply caused by higher mortgage rates, leading to rising home prices despite lower sales, according to the National Association of Realtors.
The prospect of the Bank of England pausing its interest rate hikes increased as the UK's high inflation rate unexpectedly slowed to an 18-month low, causing the pound to fall and investors to see a nearly 50-50 chance of rates staying on hold at the BoE's September meeting.
Mortgage rates have surged to their highest level since 2000, posing challenges for prospective homebuyers and potentially worsening the affordability of houses.
The average rate on a 30-year fixed mortgage has reached its highest level in nearly 23 years, causing both buyers and sellers to hold out due to rising house prices, low inventory, and high housing costs.