Economy News

China's ongoing property crisis, which began in 2021, has prompted significant interventions by Chinese authorities to stabilize the sector and mitigate its impacts on the world's second-largest economy. The People's Bank of China (PBOC) announced a $41.5 billion facility to support ...

Copper prices are approaching record highs as demand driven by renewable energy, electric vehicles, and artificial intelligence continues to grow. Year-to-date, copper prices have surged by 29%, with futures reaching $5 per pound as of May 15, the highest level ...

The Bank of England (BOE) is cautiously preparing for a summer interest rate cut, anticipated as early as June, though more likely by August or September, as signs point towards an easing inflationary trend. Currently, interest rates stand at 5.25%, a ...

Since assuming office five months ago, Argentina's President Javier Milei, a right-wing economist with a TV pundit background, has implemented severe austerity measures to reverse the country's financial decline marked by excessive government spending and debt accumulation. Despite Milei's claims that ...

European Union (EU) leaders, including Commission President Ursula von der Leyen, advocate for fairer trade relations with China, emphasizing the need to address current market access imbalances. During a significant meeting in Paris with Chinese President Xi Jinping, which also involved ...

Spain's Deoleo, the largest producer of olive oil globally, and the owner of renowned brands like Bertolli and Carbonell, is facing a complex operating landscape shaped by climate change, rising prices, higher interest rates, and robust inflation which are affecting ...

In a move to support civil servants amidst economic fluctuations, Malaysian Prime Minister Anwar Ibrahim has introduced a substantial pay raise of over 13%, a historical high, which will be effective from December. This announcement comes as Malaysia faces several economic ...

In a significant development in China's smartphone market, Huawei is rapidly regaining its position and is now close to overtaking Apple in its home market. In Q1, Huawei witnessed an impressive 70% surge in smartphone sales, while Apple faced a decline ...

Christine Lagarde, President of the European Central Bank (ECB), has said that the ECB may reduce interest rates regardless of the US Federal Reserve's actions. She made these comments during a discussion at the International Monetary Fund's spring meetings held ...

China's economy showed a robust performance in Q1 2024, with a year-on-year GDP growth of 5.3%, surpassing the predicted 4.6% growth, and marking an improvement from the previous quarter's 5.2% growth. This early-year surge was primarily fueled by significant advancements in ...

In the first quarter of the year, Singapore's economic growth was 2.7% compared to the same period last year. This was below the initial forecast of 3.0% growth. Although this performance was slightly better than the previous quarter, it was ...

The European Central Bank (ECB) has hinted at easing monetary policy in the near future, signaling a potential reduction in interest rates despite the uncertainty surrounding the Federal Reserve's actions in the United States. Maintaining interest rates at a consistent 4% ...

Copper prices have surged to unprecedented levels, with May delivery prices reaching $4.323 per pound in New York. This surge, which follows a peak in June 2022, is a continuation of a robust upward trend. The momentum was further demonstrated, ...

As part of efforts to retain a leading global position in cutting-edge semiconductor chips, South Korea has announced a comprehensive investment plan amounting to $7 billion dedicated to artificial intelligence technologies by 2027. This ambitious drive is aimed at ensuring the ...

Gold prices have surged to new heights, with spot gold reaching $2,342 per ounce and peaking at $2,353, driven by strong U.S. economic data and ongoing geopolitical tensions. This continued uptrend comes as the precious metal is increasingly seen as ...