Tag: economic policies

Despite Slowing Economy, Beijing Continues Pumping Aid Into the Solomons, Kiribati

October 31, 2022
Asia & PacificAustraliaBusiness & MarketsChinaChina-Australia RelationsChinese RegimeCOVID-Zero Policyeconomic policiesInternationalInternational RelationsKiribatiSolomon IslandsSouth Pacificthe Solomon IslandsWorld
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Beijing is pumping more money into new developments in the Solomon Islands and Kiribati as “COVID-Zero” policies pummel the Chinese economy. While Chinese aid flows to the overall Pacific region declined from 2016 to 2021, the Chinese Communist Party (CCP) has upped its investment in the Solomon Islands and Kiribati, which switched allegiances from Taiwan…

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Swiss Central Bank Loses Over $142 Billion as Franc Strengthens in Value

October 31, 2022
Business & MarketsCentral BankCompanieseconomic policiesEuropeinterest ratesstrong currencySwiss francSwiss National BankWorld
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The Swiss National Bank (SNB) reported a loss of 142.4 billion francs ($142.2 billion) for the first nine months of this year as a stronger franc considerably lowered gains from equity and bond holdings. This is the largest loss in the central bank’s 115-year history, with SNB crediting the loss to rising interest rates and…

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OPEC Raises Long-Term Oil Demand View, Calls for Investment

October 31, 2022
Business & Marketseconomic policieseconomyenergyEuropeGold and CommoditiesInternationalInvestmentMarketsOilOPECOutlookWorld
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ABU DHABI—OPEC raised its forecasts for world oil demand in the medium-and longer-term in an annual outlook released on Monday and said $12.1 trillion of investment is needed to meet this demand despite the energy transition. The view from the Organization of the Petroleum Exporting Countries, in its 2022 World Oil Outlook, contrasts with that…

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World Food Supplies at Risk as Russia Withdraws From Black Sea Deal

October 31, 2022
Business & Marketscrisiseconomic policieseconomyenergyEuropeFoodGold and CommoditiesinflationInternationalMarketsRussiaRussia-Ukraine WarshipmentsU.N.UkraineWorld
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SINGAPORE—Russia’s weekend backtrack from a U.N.-brokered deal to export Black Sea grains is likely to hit shipments to import-dependent countries, deepening a global food crisis and sparking gains in prices. Hundreds of thousands of tonnes of wheat booked for delivery to Africa and the Middle East are at risk following Russia’s withdrawal, while Ukrainian corn…

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Wall Street Opens Lower as Investors Await Fed Signal

October 31, 2022
Business & Marketseconomic policieseconomyinflationMarketsrecessionstocksUS
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Wall Street’s main indexes opened lower on Monday, capping a month dominated by mixed earnings reports and expectations of the U.S. Federal Reserve toning down its hawkish stance on inflation. The Dow Jones Industrial Average fell 107.53 points, or 0.33 percent, at the open to 32,754.27. The S&P 500 opened lower by 19.21 points, or…

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World Markets Mixed Ahead of Fed Rates Decision

October 31, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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BEIJING—World stock markets were mixed on Monday ahead of what is expected to be a Federal Reserve decision this week to raise interest rates again amid investor hopes the U.S. central bank will scale back plans for more increases. Germany’s DAX gained 0.2 percent to 13,269.55 and Britain’s FTSE 100 was flat at 7,049.25. In…

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Dollar Climbs Ahead of Busy Week for Central Banks

October 31, 2022
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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SINGAPORE/LONDON—The dollar advanced on Monday, regaining some ground lost earlier in the month, at the start of a week packed with data releases and central bank rate setting meetings, including by the Bank of England and the Federal Reserve. The euro slid 0.5 percent to $0.9919, sterling lost 0.56 percent to $1.1549, and the dollar…

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Oil Falls on China COVID-19 Curbs and Weak Factory Data

October 31, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices fell by more than $1 on Monday after weaker than expected factory activity data out of China and on concerns that the country’s widening COVID-19 curbs will curtail demand. Brent crude futures dropped $1.17, or 1.2 percent, to $94.60 a barrel by 0900 GMT, extending Friday’s 1.2 percent decline. U.S. West Texas Intermediate…

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Europe Strikes Deal to Ban Diesel and Gasoline Cars, ‘100 Percent’ Reduction of CO2 Emissions

October 29, 2022
Business & Marketsclimate change agendaCO2 emissionsdiesel cars baneconomic policiesenergyEuropefossil fuelspetrol carsWorld
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The European Parliament and Council have reached a provisional agreement confirming zero-emissions targets for new vans and cars by 2035. According to the deal arrived at by E.U. negotiators with member states, the region will achieve zero-emission road mobility by 2035, according to an Oct. 28 press release. The deal seeks to reduce CO2 emissions…

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GM Temporarily Halts Paid Advertising on Twitter

October 29, 2022
advertisingBusiness & MarketsCompanieseconomic policiesGMMedia & Big TechpaidSocial MediaTechTwitterUSUS News
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General Motors Co. said late on Friday it had temporarily halted paid advertising on Twitter after Elon Musk completed his takeover of the social media company. The largest U.S. automaker said it was “engaging with Twitter to understand the direction of the platform under their new ownership.” Twitter did not immediately respond to a request…

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