- — India’s exports to China rise 8.74% in FY24 but remain below pre-pandemic levels | Mint
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at 4/18/24 3:00pmExports to China came in at $16.67 billion, even lower than in FY19, and consisted mainly of raw materials and minerals, said Ajay Srivastava, founder of Global Trade Research Initiative. Imports from China grew from $70.3 billion in FY19 to $101.75 billion in FY24. Indias reliance on China is expected to increase due to rising ...- — China’s goal to keep yuan stable will not change, deputy cbank governor says
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at 4/18/24 3:00pmChina has the confidence, the conditions, and ability to keep its foreign exchange market stable, Zhu Hexin, a deputy governor of Chinas central bank, told a news conference on Thursday. Zhu reiterated that the central bank will prevent the formation of one-sided expectations on the Chinese currency. He added that Chinas goal and determination in ... - — China: Overcapacity issue should be viewed based on market economy principles
- at 4/18/24 3:00pmResponding to some Western countries concerns over Chinas industrial overcapacity, China on Wednesday reiterated that the issue should be viewed based on the principles of a market economy. The so-called Chinas overcapacity impact on the global market is a false narrative, Lin Jian, a spokesperson for the Chinese Foreign Ministry, said at a regular press ...
- — US existing home sales drop in March; median price increases
- at 4/18/24 3:00pmU.S. existing home sales fell in March as higher interest rates and house prices sidelined buyers from the market. Home sales dropped 4.3% last month to a seasonally adjusted annual rate of 4.19 million units,the National Association of Realtors said on Thursday. Economists polled by Reuters had forecast home resales slipping to a rate of ...
- — Euro zone inflation drop may herald ECB rate cut: de Guindos
- at 4/18/24 3:00pmEuro zone inflation is set to ease further and the European Central Bank may cut interest rates if its price growth conditions are met, ECB Vice President Luis de Guindos said on Thursday, repeating the banks most recent guidance. If our updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength ...
- — EU leaders to hear shake-up needed to match global rivals
- at 4/18/24 3:00pmEuropean Union leaders will hear on Thursday how the bloc could act to catch up to the United States, China and other rivals in a global race in new green and digital technologies. Former Italian Prime Minister Enrico Letta, tasked by leaders with assessing the shortfalls of the EU single market, warned they could not ...
- — Greek economy surges after decade of pain
- at 4/18/24 3:00pmA decade ago, Greece was in the throes of a devastating debt crisis marked by years of austerity, hardship and unrest. Now, officials and investors say 2024 could be the year its rebound is finally complete. The Greek economy is forecast to grow nearly 3% this year, approaching its pre-crisis size of 2009 and far ...
- — China’s top economic planner says economic structure optimized, market expectations improved for Q1
- at 4/18/24 3:00pmChinas top economic planner says the countrys economic growth has got off to a good start and has laid a solid foundation for annual growth, at a press conference in Beijing on Wednesday. This follows Chinas GDP growth of 5.3 percent year-on-year in the first quarter of 2024, beating market expectations. CGTNs Gao Ang has ...
- — NY Fed sees more time needed to shrink central bank holdings
- at 4/18/24 3:00pmThe Federal Reserves effort to contract its balance sheet will likely run into 2025 before the process ends, with the endgame dependent on the financial systems need for liquidity, the Federal Reserve Bank of New York said in a report released on Wednesday. Future financial and economic conditions and their impact on the demand for ...
- — Fed to cut rates in September and maybe once more this year
- at 4/18/24 3:00pmThe U.S. Federal Reserve will wait until September to cut its key interest rate, according to a majority of 100 economists polled by Reuters, with half saying there will be only two cuts this year and only about a third forecasting more. That change in the outlook from a June start and two or ...
- — ECB clear on June rate cut but views diverge on July
- at 4/18/24 3:00pmThe European Central Bank made it clear on Thursday that aninterest rate cut is coming in June but policymakers continued to differ on moves thereafter or how low interest rates can go before once again starting to stimulate the economy. The ECB put a June rate cut on the table last week and has spent ...
- — Fed to cut US rates ‘at some point, but no hurry, Mester says
- at 4/18/24 3:00pmCleveland Federal Reserve Bank President Loretta Mester said on Wednesday she expects price pressures to ease further this year, allowing the Fed to reduce borrowing costs, but only when it is pretty confident inflation is heading sustainably to its 2% goal. At some point, as we get more confidence, we will start to normalize policy ...
- — Europe wants 2 things from China. It may not get far on either of them
- at 4/18/24 3:00pmEurope wants two things from China: First, a shift in its relatively pro-Russia position on the war in Ukraine. Second, a reduction in the trade imbalance — Chinese goods exports to the EU exceeded its imports from the 27-nation bloc by 291 billion euros ($310 billion) last year. Its not clear if it will get ...
- — US announces new sanctions on Iran after missile and drone strike on Israel
- at 4/18/24 11:00amThe United States on Thursday announced new sanctions on Iran targeting its unarmed aerial vehicle production after its missile and drone strike on Israel last weekend. The U.S. Treasury Department statement said the measures targeted 16 individuals and two entities enabling Iran’s UAV production, including engine types that power Iran’s Shahed variant UAVs, which were ...
- — US weekly jobless claims remain at low level
- at 4/18/24 11:00amThe number of Americans filing new claims for unemployment benefits was unchanged at a low level last week, pointing to continued labor market strength. Labor market resilience, which is driving the economy, together with elevated inflation have led financial markets and some economists to expect that the Federal Reserve could delay cutting interest rates until ...
- — Philly Fed manufacturing gauge charges to 2-year high
- at 4/18/24 11:00amManufacturing activity in the U.S. Mid-Atlantic region expanded by the most in two years in April on the strength of new orders and shipments of finished goods, but renewed input cost pressures could reinforce hesitation among Federal Reserve officials to pivot toward interest rate cuts. The Philadelphia Fed on Thursday said its monthly business conditions ...
- — US economic activity expanded slightly in recent weeks, Fed says
- at 4/18/24 11:00amU.S. economic activity expanded slightly from late February through early April and firms signaled they expect inflation pressures to hold steady, a Federal Reserve survey showed on Wednesday, continuing recent trends that have kept the central bank from being able to cut interest rates. The U.S. central bank released its latest snapshot on the health ...
- — ECB’s Centeno says policy would be tight even after two rate cuts
- at 4/18/24 11:00amThe European Central Bank would be putting a dampener on the economy even after cutting interest rates twice, but there is no rush to slash borrowing costs, ECB policymaker Mario Centeno said. ECB policymakers have unanimously come out in favour of reducing the policy rate from its current record high of 4% in June, but ...
- — EU bank-saving raid can boost tired capital market
- at 4/18/24 7:00amEuropean Union leaders could pull trillions from the bloc’s collective couch cushions by offering savers an easier way to invest in stocks, according to the former Italian prime minister tasked with injecting new life into the single market. In a report prepared for a summit starting Wednesday, Enrico Letta bemoaned Europeans’ habit of keeping money ...
- — Here’s why Germany’s economy remains the most distressed in Europe
- at 4/18/24 7:00amFrance and Germanys economies are the worst-performing in Europe, while the UK is seen as doing moderately well. On the up side, Spain and Italy are seeing distinctly more positive signs. European companies have been facing an increasingly difficult business environment, due to soaring inflation, as well as higher borrowing costs, as interest rates continue ...
- — How the world can make the transition to a circular economy
- at 4/18/24 7:00amAt the sixth session of the United Nations Environment Assembly (UNEA-6) earlier this year, a call for collective action to accelerate the transition to circular economies was made by members of the Global Alliance for Circular Economy and Resource Efficiency (GACERE). Regional circular economy networks, including the Circular Economy Coalition for Latin America and the ...
As of 4/19/24 5:23am. Last new 4/18/24 5:17pm.
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