When COVID-19 presented a global health emergency more than three years ago, it also exposed weaknesses in health financing that led to delays and inequities in distributing essential vaccines, tests, and treatments for low- and middle-income countries. This week, DFC and leading development finance institutions announced a sweeping collaboration to address those challenges and ensure […]
The dollar moved slightly lower on Wednesday ahead of a much-anticipated rate decision by the Federal Reserve later in the day, while sterling slid on increased bets the Bank of England (BoE) will pause its historic run of interest rate hikes. The U.S. dollar index, which measures the currency against a basket of rivals, inched […]
Gold recovered from three-week lows on Friday aided by the dollar’s retreat after better-than-expected Chinese data and a stronger euro, while traders focussed on the Federal Reserve’s guidance on interest rates next week. Spot gold was up 0.4% to $1,917.49 per ounce by 1031 GMT, after hitting its lowest since Aug.23 in the previous session. […]
Taiwan’s government on Thursday rejected a plan by China to boost economic integration as a cash grab to boost the country’s “deteriorating” business environment and futile bid to win Taiwanese hearts and minds to support the Communist Party. China, which claims Taiwan as its own territory, on Tuesday unveiled steps to turn coastal Fujian province […]
The UK economy shrank surprisingly sharply in July, as retailers and construction projects were knocked by wet weather, sparking fresh fears of a recession. Experts had forecast a 0.2 per cent decline in gross domestic product (GDP), but official data shows it contracted by 0.5 per cent. The bigger-than-expected slump came after 0.5 per cent […]
Foreign investors sold Asian bonds in August due to a spike in U.S. yields, but analysts see potential inflows to the region as the U.S. Federal Reserve may be nearing the end of its monetary tightening, making yields in Asia attractive once again. According to data from bond market associations and stock exchanges, there was […]
China’s central bank will boost demand and support a modest rebound in prices, the Financial News, a publication run by the People’s Bank of China (PBOC) said on Wednesday, citing a unnamed senior central bank official. The PBOC will ramp up its coordination with fiscal and industrial policies and strengthen the guidance of expectations, while […]
Over the last decade, the Middle East has undergone a profound transformation. Traditionally viewed as an oil-rich region, the Middle East has been diversifying its economies, creating an entrepreneurial landscape ripe with opportunity. The region’s dynamic economies, bolstered by ambitious economic diversification and innovation plans, have created a favorable environment for global entrepreneurs. With its […]
China’s currency tumbled to a 16-year low after exports fell for the fourth consecutive month, deepening concerns over the outlook for the world’s second-largest economy. The renminbi slid to its lowest level against the dollar since 2007, after official figures showed exports fell by 8.8pc in August compared with a year earlier. The issues point to […]
Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a $100 million financing agreement with the National Bank of Egypt (NBE) to boost trade and economic relations between the UAE and Egypt. The partnership solidifies the longstanding bond between the two nations and showcases their commitment to […]