President Trump’s latest big move in the Middle East doesn’t involve proposing a peace treaty, nor a trade deal, but instead a high-rise. The Trump Organization and developer DarGlobal have revealed plans for a supertall skyscraper in Dubai that the firms say will boast the world’s highest outdoor swimming pool. The Trump International Hotel & […]
California’s economy has surpassed Japan’s, making the Golden state the fourth largest economy in the world, Governor Gavin Newsom announced on Thursday. The state’s nominal GDP reached $4.1tn, according to data from the International Monetary Fund and the US Bureau of Economic Analysis, edging out Japan’s $4.02tn nominal GDP. California now ranks behind the US at $29.18tn, China at $18.74tn […]
China’s central bank will not allow sharp renminbi declines and has asked major state-owned banks to reduce US dollar purchases, people with direct knowledge of the matter said on Wednesday (Apr 9). The directive from authorities comes as the renminbi faces heavy downward pressure following massive US tariffs on Chinese exports and retaliatory moves by […]
The World Bank on Wednesday cut its 2025 economic growth forecast for Latin America and the Caribbean to 2.1% from its January forecast of 2.5%, saying regional economies must adapt to navigate increasing global uncertainties. The global lender cited a delay in interest rate cuts in developed economies, concerns around global trade restrictions, slowing growth […]
China will allow certain products traded on the Shanghai Gold Exchange to be delivered overseas by establishing storage facilities in other countries – part of a broader effort to promote the yuan and reduce reliance on the US dollar and US financial systems, according to top regulatory agencies. In an action plan aimed at enhancing […]
President Donald Trump and his administration are reportedly planning a pressure campaign to convince U.S. trading partners to isolate China in exchange for reduced tariffs. The administration is negotiating with more than 70 countries to secure commitments to limit their dealings with Beijing in exchange for reduced tariffs and barriers to trade, the Wall Street Journal reported, […]
GCC banks will continue to benefit from strong capital levels, supporting their overall performance in 2025, according to the EY GCC Banking Sector Outlook 2024 report. The expansion of gas production in Qatar, implementation of economic transformation projects in of Saudi Arabia and non-oil economic growth in Bahrain and the UAE will underpin the resilience of […]
Fitch Ratings-Shanghai-17 April 2025: The Shanghai Stock Exchange is likely to further tighten bond issuance related to funding new projects by local-government financing vehicles (LGFVs) with weak interest coverage and significant fiscal exposure as part of broader efforts to control public sector debt growth, says Fitch Ratings. Nevertheless, we expect the policy environment to continue […]
Indonesia has pledged to increase its imports from the United States by up to US$19 billion, including US$10 billion in energy purchases and make other trade concessions, as part of a broader strategy to stave off looming tariffs from Washington. Chief Economic Minister Airlangga Hartarto outlined the plan to reporters on Friday morning, following high-level bilateral trade talks […]
Sweden’s EQT has received commitments exceeding $10 billion for its new Asia-focused buyout fund and will reach its first close in April, the investment firm said on Wednesday. EQT launched the fundraising of its ninth regional private equity fund – BPEA Private Equity Fund IX, managed by EQT Private Capital Asia – last August, with […]