News

China's Xi to promote 'inclusive' globalization at Davos

Reuters
Posted at Jan 11 03:03 PM

China's President Xi Jinping will seek to promote "inclusive globalization" in his keynote speech at the World Economic Forum (WEF) in Davos, Switzerland, later this month, China's foreign ministry said on Wednesday. Read more »

World Bank sees higher 2017 global growth, uncertainty over US

David Lawder, Reuters
Updated as of Jan 11 09:47 AM

The World Bank on Tuesday said global growth would accelerate slightly as recovering oil and commodity prices ease pressures on emerging-market commodity exporters and painful recessions in Brazil and Russia come to an end. Read more »

Bitcoin nears record high as it becomes 'safe haven' asset

Agence France-Presse
Posted at Jan 05 12:06 PM

Bitcoin neared record highs Thursday with the surging digital currency tipped to become a new safe haven asset as the world grapples with growing economic uncertainty. Read more »

Sluggish trade to slow emerging Asia growth: Fitch

ABS-CBN News
Posted at Dec 07 11:48 AM

Slugging global trade and a gradual cooling down of the Chinese economy is expected to slow growth in emerging Asia, debt-watcher Fitch Ratings said. Read more »

Federal Reserve seen to raise rates 4 times in next 2 years

ABS-CBN News
Posted at Nov 23 03:30 PM

The Federal Reserve could raise interest rates in December and three more times in the next 24 months, on brighter prospects for the US economy and President-elect Donald Trump's pledge to boost spending, an analyst said Tuesday. Read more »

Pacific rim leaders to debate future of trade post-Trump

Rosalba O'Brien and Teresa Cespedes, Reuters
Posted at Nov 18 04:17 PM

Leaders of Pacific rim nations began gathering in Peru on Friday seeking to salvage hopes for regional trade as prospects of a Donald Trump presidency sounded a possible death knell for the US-led Trans Pacific Partnership (TPP) free trade pact. Read more »

EU braces for 'more businesslike' ties with Trump's America

Gabriela Baczynska and Robert-Jan Bartunek, Reuters
Posted at Nov 14 12:04 PM

The European Union must spend more on defense and uphold accords on climate change and Iran's nuclear program, the bloc's foreign ministers said after mulling future ties with US President-elect Donald Trump, who has cast doubt on all three. Read more »

Mixed signals for economic switch on climate change

Celine Serrat and Marie Heuclin, Agence France-Presse
Posted at Nov 04 12:36 PM

Beyond the broad political consensus behind the Paris Agreement, there are mixed signals on how fast the world is pivoting towards the low-carbon economy needed to beat back the threat of global warming. Read more »

China factory output expands at fastest pace in 2 years

Reuters
Posted at Nov 01 11:02 AM

Activity in China's manufacturing sector expanded at the fastest pace in more than two years in October, adding to views that the world's second-largest economy is stabilizing thanks to a construction boom. Read more »

Asia stocks wallow at 6-week lows, China PMIs in focus; oil down

Reuters
Posted at Nov 01 09:04 AM

Asian stocks wallowed near six-week lows on Tuesday as investors braced for a looming raft of economic and central bank events, while oil prices fell as markets doubted OPEC's ability to implement planned production cuts. Read more »

Economic gender parity nearly two centuries off, WEF finds

Brenna Hughes Neghaiwi, Reuters
Updated as of Oct 26 11:32 AM

Progress in closing the global workplace gender gap is slowing dramatically, according to a World Economic Forum study, with a notable exception in Rwanda, a country still emerging from the aftermath of genocide that has become the world's leader on equal pay. Read more »

Duterte says US lost control of world economy

ABS-CBN News
Posted at Oct 21 12:03 PM

Shackled with trillions of dollars in debt to China, the US no longer controls the world economy, President Rodrigo Duterte said. Read more »

European Central Bank leaves door open to more stimulus

Francesco Canepa and Balazs Koranyi, Reuters
Posted at Oct 21 09:23 AM

The European Central Bank left ultra-loose monetary policy unchanged on Thursday but kept the door open to more stimulus in December, firmly shooting down any talk of tapering its 1.7 trillion euro asset-buying program. Read more »

China Sept exports fall more than expected, imports back in contraction

Reuters
Posted at Oct 13 11:33 AM

China's September exports fell 10 percent from a year earlier, far worse than expected, while imports unexpectedly shrank 1.9 percent after picking up in August, suggesting signs of steadying in the world's second-largest economy may be short-lived. Read more »

Federal Reserve closer to rate hike, but inflation doubts remain

Lindsay Dunsmuir and Jason Lange, Reuters
Posted at Oct 13 09:23 AM

Several voting Federal Reserve policymakers judged a rate hike would be warranted "relatively soon" if the US economy continued to strengthen but doubts on inflation remained, according to the minutes of the Fed's September policy meeting released on Wednesday. Read more »

Business leaders urge London against 'hard' Brexit

Agence France-Presse
Posted at Oct 08 11:50 PM

British business leaders on Saturday urged the government to rule out a hard break with the European Union, saying the uncertainty over the terms of Brexit was impacting investment decisions. Read more »

China's forex reserves fall to 5-year low in September

Agence France-Presse
Posted at Oct 08 07:45 PM

China's mountain of foreign exchange reserves dropped around $19 billion in September to a five-year low, government data showed, with the central bank spending heavily to defend its currency against capital outflows.  Read more »

British PM May pitches Brexit 'quiet revolution'

Guy Faulconbridge, Reuters
Posted at Oct 07 04:50 PM

For Prime Minister Theresa May, Britain's vote to leave the European Union is a demand for the biggest change in at least a generation in the way the United Kingdom is run. Read more »

IMF, global finance leaders fret over populist backlash

David Lawder, Reuters
Posted at Oct 07 09:09 AM

World finance leaders on Thursday decried a growing populist backlash against globalization and pledged to take steps to ensure trade and economic integration benefited more people currently left behind. Read more »

Analysis: Old tools, new reality a struggle for central banks

Balazs Koranyi and Leika Kihara, Reuters
Posted at Oct 06 08:46 AM

Stefan Moeller's firm in Frankfurt, which makes baseball caps to the customer's own design, is an unlikely embodiment of a shift in spending trends that could tear up the monetary policy rule book for advanced economies. Read more »