The World Bank said that Asian economies are beginning to lose steam after making a recovery from the pandemic. The smaller economies in East Asia, which have largely regained their pandemic-era losses, are now facing a stalled recovery as productivity begins to lag, according to a World Bank report from March 31. Across the Asia-Pacific…
World Bank Says Economic Recoveries in East Asia Are Losing Steam
March 31, 2023
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WTO Warns of ‘Real’ Recession Risk in Some Major Economies
November 16, 2022
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NUSA DUA, Indonesia—The head of the World Trade Organization (WTO) warned on Wednesday that several major economies face a real risk of sliding into recession as the war in Ukraine, rising food and fuel costs, and soaring inflation cloud the global outlook. “It may not happen everywhere, but several key countries risk sliding into recession,”…
Rivers of Drought Imperil Industrial Economies
August 23, 2022
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Commentary The River of Doubt, Rio da Duvida, now known as the Roosevelt River, is a tributary of the Aripuanã River, which, in turn, via the Madeira River, flows into the Amazon. It nearly killed Theodore Roosevelt after he was the first white man to explore it following his loss during the 1912 presidential election. It’s…
Germany’s Lindner Says Europe Will Be Able to Shield Its Economies Against Inflation Rising Over Ukraine War
February 25, 2022
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PARIS—European sanctions against Russia over the war in Ukraine will lead to cost increases, German Finance Minister Christian Lindner said, but the bloc will be able to protect its economies against the effects of further inflation. Lindner spoke ahead of a European finance ministers’ meeting in Paris which is due to focus largely on the…
US Debt Ceiling Deadline Could Extend to January: Wrightson ICAP
WASHINGTON—The U.S. Treasury could be able to fund government operations into the first half of January without a debt ceiling increase, according to a new estimate by money market research firm Wrightson ICAP on Monday. Wrightson said in a note to clients that based on the Treasury’s debt issuance plans, the department should be able…
US Bank Stocks Rise as Industry Welcomes Powell Renomination
November 22, 2021
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NEW YORK—U.S. bank stocks rose on Monday as senior bankers and industry figures welcomed Federal Reserve Chair Jerome Powell’s nomination by President Joe Biden for a second four-year term. Biden, in a statement emailed to reporters, paid tribute to the “decisive action” which the Fed had taken in response to the COVID-19 pandemic. And senior…
S&P 500, Nasdaq Hit Record Highs After Powell Nomination
November 22, 2021
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The S&P 500 and the Nasdaq hit record highs on Monday after President Joe Biden picked Federal Reserve Chair Jerome Powell to lead the bank for a second term, keeping the status quo as the central bank plans to wind down pandemic-era stimulus. The Dow Jones Industrial Average rose 29.43 points, or 0.08 percent, at…
Afghan Banking System Facing Existential Crisis: UNDP Report
November 22, 2021
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The United Nations warned Monday that Afghanistan’s banking system is on the verge of collapse because of consumers unable to repay loans, fewer deposits, and other liquidity problems, leading to a social crisis in an already fragile economy. “Afghanistan’s financial and bank payment systems are in disarray,” the United Nations Development Programme (UNDP) said in…
Australian Tycoon to Help Small Publishers Strike Deals With Google, Facebook
November 22, 2021
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SYDNEY—Australian small publishers will get a leg up in their fight to secure licensing deals with Google and Facebook after the country’s richest person said his philanthropic organisation would seek a collective bargaining arrangement for them. The Minderoo Foundation, owned by Andrew Forrest, chairman of iron ore miner Fortescue Metals Group, plans to help 18…
Germany’s Economy Is Taking a Breather but Inflation Isn’t, Bundesbank Warns
November 22, 2021
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FRANKFURT—The German economy is taking “a breather” as a lack of goods and labour as well as new restrictions designed to fight the coronavirus pandemic put an end to its recent boom, the country’s central bank said on Monday. The Bundesbank also warned that inflation in Europe’s largest economy was likely to stay well above…
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