Overview of HKSTP’s Strategic Expansion into the Middle East The Hong Kong Science and Technology Parks Corporation (HKSTP) is spearheading a significant move to strengthen ties with the Middle East by leading a delegation of 25 tech companies to the Future Investment Initiative Institute’s 8th Edition (FII8) in Riyadh, Saudi Arabia. This unprecedented delegation, which […]

Tokyo—For the first time in five months, core inflation in Japan’s capital city of Tokyo fell below the Bank of Japan’s (BOJ) 2% target, raising concerns about the central bank’s ability to justify further interest rate hikes. The Tokyo core consumer price index (CPI), which excludes volatile fresh food costs, rose by 1.8% in October […]

The International Monetary Fund (IMF) has called on Turkey to exercise caution regarding its upcoming minimum wage hike scheduled for January 1, 2025, urging policymakers to avoid a repeat of the inflation-fueling increase seen earlier in 2024. Jim Walsh, the IMF’s mission chief for Turkey, emphasized the importance of focusing on targeted support for the […]

China’s export growth, which has been increasingly dominating global trade discussions, is primarily fueled by weak domestic demand and strong foreign consumption, particularly from the United States. This has contributed to rising trade surpluses in China, a trend highlighted by the International Monetary Fund’s (IMF) Chief Economist Pierre-Olivier Gourinchas during a recent interview at the […]

Malaysia is set to introduce extensive fiscal reforms in 2025, expanding its sales and services tax (SST) and restructuring fuel subsidies, as the government gears up for record-breaking budget spending. Announced by Prime Minister Anwar Ibrahim on Friday, the fiscal measures aim to tighten the country’s deficit while managing rising public sector costs and boosting […]

The European Central Bank (ECB) announced its third interest rate cut of the year on Thursday, reflecting the ongoing slowdown in economic growth, signs of softening in the labor market, and easing consumer price pressures. In a move widely anticipated by analysts, the ECB reduced its deposit rate by 25 basis points to 3.25%, according […]

Investors in British government bonds (gilts) are on edge ahead of the new Labour government’s first budget announcement on October 30. Finance Minister Rachel Reeves is set to reveal her fiscal agenda, the first of its kind in 14 years under a Labour administration. While many anticipate a significant rise in debt issuance, bond markets […]

On Tuesday, October 16, 2024, the World Bank took a significant step in enhancing its capacity to assist developing countries. By altering its internal lending rules, the bank is now set to unlock an additional $30 billion in lending capacity over the next decade. This change, led by World Bank President Ajay Banga, is part […]

A World Bank report released on October 14, 2024, reveals alarming financial conditions in the world’s 26 poorest countries, marking the worst state since 2006. These nations, home to 40% of the most poverty-stricken populations, are burdened by rising debt levels, institutional fragility, and escalating vulnerability to natural disasters. The report, which comes just days […]

The International Monetary Fund (IMF) has announced a significant reduction in borrowing costs for its member countries, a move that is expected to cut borrowing expenses by approximately US$1.2 billion annually. This decision marks one of the most substantial changes to the IMF’s lending policies in recent years, aimed at easing the financial burdens of […]