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China has taken a significant step to revitalize its stock market by halving the stamp duty on stock trading, effective immediately. This strategic move comes as the country grapples with economic uncertainties stemming from the post-pandemic recovery and challenges within its property market. The Ministry of Finance, in partnership with the State Taxation Administration, announced […]

Federal Reserve Chair Jerome Powell addressed the audience at the Jackson Hole Economic Symposium, shedding light on the central bank’s outlook for the economy and its approach to managing inflation. Powell acknowledged the progress made in tackling inflation, noting that it had eased from its peak of 7% last summer to 3.3%. Despite this improvement, […]

In a surprising and bold move, Turkey’s central bank has jolted global markets by announcing a substantial increase in its key interest rate by a staggering 750 basis points, propelling it to 25%. The unexpected decision has ignited an unprecedented surge in the Turkish lira’s value and has indicated a newfound commitment to tackle the […]

Johannesburg, August 23, 2023 — The ongoing BRICS summit in Johannesburg, South Africa, has shifted its attention to critical matters that could shape the future course of these prominent developing economies. The summit, which brings together the leaders of Brazil, Russia, India, China, and South Africa, aims to tackle issues of expansion and the potential […]

In a significant development, global rice prices have surged to their highest levels in nearly 12 years, triggering apprehensions of a potential spike in food inflation across Asia. The surge comes as India’s export ban on rice and adverse weather conditions have constrained supplies of the region’s primary staple food. According to reports from the […]

In a significant market development, asking prices for homes in the United Kingdom have experienced their steepest August decline since 2018, indicating a possible slowdown in the property sector following four consecutive months of price decreases. According to data released by the property portal Rightmove, new sellers listed their homes for an average of £364,895 […]

China is implementing a comprehensive strategy to address the mounting risks associated with local government debt, as the country grapples with an escalating property crisis. In a statement released on Sunday, the People’s Bank of China (PBOC) pledged to coordinate financial support aimed at resolving local government debt issues. This move comes at a time […]

Russia’s central bank has made a bold move to address the alarming collapse of the rouble, the country’s currency. In an unexpected decision, the bank has raised its key interest rate by a significant 3.5 percentage points, bringing it to 12 percent. This step aims to quell the recent slide of the rouble, which had […]

In a remarkable turn of events, Turkey’s economy has secured a current account surplus for the first time in 20 months, driven by a robust surge in tourism and a strategic pivot in economic management under the leadership of President Recep Tayyip Erdoğan. Official data released by the central bank on Friday revealed that Turkey’s […]

Argentina’s political arena has been electrified by an unexpected turn of events as far-right libertarian candidate Javier Milei clinched a surprising victory in the country’s primary elections. The aftermath of his triumph has sent shockwaves through the nation’s economy, prompting a swift series of strategic maneuvers to stabilize the markets. Milei’s remarkable ascent, securing an […]