The Asian Development Bank (ADB) has approved an $18.7 million policy-based grant for Maldives to help the country strengthen its fiscal management and create a pathway to restore fiscal sustainability over the medium to long term. The Strengthening Fiscal Management and Sustainability Program supports structural fiscal reforms until 2025 by focusing on domestic resource mobilization […]
China’s manufacturing activity contracted for a fifth straight month in August, but at a slower-than-expected pace, an official factory survey showed on Thursday, maintaining pressure on Beijing to step up policy support for the stuttering economy. The official purchasing managers’ index (PMI) rose to 49.7 from 49.3 in July, according to the National Bureau of […]
Commerce Secretary Gina Raimondo on Wednesday said she warned Chinese leaders that U.S. businesses might stop investing in their country without prompt action to address complaints about worsening conditions due to raids on firms, unexplained fines and unpredictable official behavior. Raimondo’s comments add to pressure on Chinese leader Xi Jinping’s government, which is trying to […]
$400m deal signed between China Development Bank and African Export-Import Bank to help African SMEs
A multimillion-dollar development-focused agreement has been signed in Cairo, Egypt, between the China Development Bank and the African Export-Import Bank (Afreximbank) to provide Afreximbank with a $400-million term loan facility to support the financing of small and medium-sized enterprises (SMEs) across Africa. The agreement, signed by Tan Jiong, president of the CDB, and Professor Benedict […]
South Korea’s LG Energy Solution (373220.KS) is aiming to raise about $1 billion from the sale of two, dollar-denominated green bonds, according to two sources with direct knowledge of the matter. The sources could not be identified as the information was not yet made public. “No specifics have been decided regarding the scale,” an LG Energy Solution […]
The Gross Domestic Product of BRICS is now 36 percent of global GDP and 47 percent of the world population. This follows the announcement of the six nations to the BRICS bloc. “We have decided to invite the Argentine Republic, the Arab Republic of Egypt, the Federal Democratic Republic of Ethiopia, the Islamic Republic of […]