As inflation rapidly decreased in 2023 and continued to slow this year, Federal Reserve officials were optimistic that the cooling of the U.S. economy had been achieved without a significant rise in unemployment. This optimism was based on a reduction… Read More ›
China’s decision to hold its benchmark lending rates steady at Tuesday’s monthly fixing was in line with market expectations. The one-year loan prime rate (LPR) remains at 3.35%, while the five-year LPR is maintained at 3.85%. This stability follows a… Read More ›
As North Korea gears up to reopen its borders to international tourists, the country has been focusing on expanding its tourism infrastructure, particularly in the mountain city of Samjiyon near the Chinese border. Although the country has largely remained closed… Read More ›
Several Chinese banks have recently been allocated new gold import quotas by the central bank, reflecting anticipation of a potential revival in demand despite current record-high prices, according to four sources familiar with the situation. These quotas, distributed in August,… Read More ›
The United States is set to support a significant global treaty aiming to reduce annual plastic production, marking a major shift from its previous stance, according to a source close to U.S. negotiators who spoke to Reuters on Wednesday. This… Read More ›
UBS CEO Sergio Ermotti stated Wednesday that while he anticipates increased market volatility in the latter half of the year, he does not foresee an imminent recession in the U.S. Despite recent sharp sell-offs in global equities triggered by weaker-than-expected… Read More ›
The rising demand from Chinese investors for offshore investments has led foreign banks and fund managers to struggle with limited outbound-investing quotas, despite recent selloffs in U.S. and Japanese markets. Firms utilizing China’s Qualified Domestic Institutional Investor (QDII) program are… Read More ›
The International Energy Agency (IEA) maintained its 2024 global oil demand growth forecast but adjusted its 2025 estimate downward, attributing the revision to the weakened Chinese economy. The IEA’s monthly report highlighted that China’s post-COVID economic surge has waned, significantly… Read More ›
The latest data reveals that advanced operating efficiencies in the U.S. shale sector are driving increased oil production without additional spending. This surge in output is set to influence global oil markets as OPEC prepares to unwind its output cuts… Read More ›
Oil futures rebounded more than $1 a barrel from seven-week lows on Wednesday following the assassination of Hamas leader Ismail Haniyeh in Iran, escalating tensions in the Middle East. Despite this uptick, prices continue to be weighed down by concerns… Read More ›
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