In response to surging retail rice prices and widespread crop damage caused by late monsoon rains, India, one of the world’s top rice exporters, has taken the bold step of banning the export of non-basmati white rice with immediate effect. This move has raised concerns in the global market, as India accounts for over 40% […]

The UK inflation rate has significantly cooled in June, surprising economists by coming in below consensus expectations at 7.9% annually. Analysts polled by Reuters had projected an annual rise in the headline consumer price index of 8.2%, following May’s hotter-than-expected 8.7% reading. While this decline is encouraging, annualized price rises still exceed the Bank of […]

In a concerning development for China’s economy, youth unemployment has reached an all-time high, adding further strain as the country’s post-pandemic recovery stumbles. Official figures reveal that the jobless rate for 16 to 24-year-olds in urban areas skyrocketed to 21.3% last month, sparking alarm among economists and policymakers. As the world’s second-largest economy, China’s growth […]

Russia has decided to terminate its participation in the crucial Black Sea Grain Initiative agreement, which allowed Ukraine to export its grain by sea despite Moscow’s naval blockade. The deal, brokered by the United Nations and Turkey in July 2022, aimed to stabilize global food prices and alleviate some of the fallout from the ongoing […]

Global public debt has reached an all-time high of $92 trillion, according to a recently released report by the United Nations. The alarming figure highlights the growing burden of debt faced by countries around the world, particularly developing nations. The report, titled “A World of Debt,” underscores the challenges posed by escalating external debts, cascading […]

Berlin, Germany – In a significant development for Sino-German economic relations, China’s Minister of Commerce, Wang Wentao, held meetings with top German business leaders to discuss the two countries’ trade cooperation and address concerns regarding the concept of “decoupling” from China. Wang emphasized China’s commitment to improving the domestic business environment for all international enterprises, […]

New York/London – U.S. stocks continued their upward momentum on Thursday, fueled by further indications of easing inflationary pressures in the country. The S&P 500 index reached a 15-month high, rising 0.8%, while the tech-heavy Nasdaq Composite surged 1.6%. The positive market sentiment was driven by data showing that the producer price index rose less […]

Beijing, China – China’s central bank remains optimistic as it expects the country to avoid deflation this year despite recent declines in consumer prices. Liu Guoqiang, the deputy governor of the People’s Bank of China (PBoC), emphasized the importance of patience during the post-pandemic recovery phase and projected a rebound in consumer prices by August. […]

The US dollar is facing a critical breakdown against major global currencies as inflation cools, with experts predicting a sustained period of weakness for the greenback. The US Dollar Index, which measures the value of the dollar against a basket of major currencies, recently fell below its key support level of 100, indicating a potential […]

Saudi Arabia and Russia, the world’s largest oil exporters, have announced additional oil production cuts. The decision aims to stabilize oil prices, which have faced high market volatility in recent times. Saudi Arabia, a prominent member of the Organization of the Petroleum Exporting Countries (OPEC), declared its extension of a voluntary oil production cut by […]