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 […]

China’s State Council has taken a significant stride towards revitalizing its economy by issuing a set of comprehensive guidelines aimed at enhancing the country’s appeal for foreign investments. These measures come as China faces economic hurdles, including sluggish export demand from key trade partners and ongoing turbulence in its property market. The central focus of […]

The energy market witnessed a remarkable spectacle today as crude oil prices surged to exhilarating new heights, riding a perfect storm of factors that have sent shockwaves through the industry. The benchmark Brent index surged to levels unseen since January, driven by a sharp drop in US fuel inventories and a carefully choreographed ballet of […]

In a stunning move that has reverberated throughout the European banking landscape, Italy has unleashed a surprise windfall tax, setting the financial world abuzz. This tax, amounting to a hefty 40% on profits derived from higher interest rates, has sent shockwaves through the banking sector. The Italian government, under the leadership of Prime Minister Giorgia […]

China, an economic powerhouse, is grappling with an unforeseen challenge as trade data for July reveals a stark decline in both exports and imports. The ripple effects are echoing through global markets, raising concerns about the broader economic recovery. In a surprising twist, China’s exports nosedived by a staggering 14.5% in July compared to the […]

China has set the stage for a robust response to the escalating risks posed by its local government debt, unveiling a comprehensive package of strategies aimed at tackling the mounting crisis. This multifaceted approach includes initiatives such as special bond issuance, debt swaps, loan rollovers, and accessing the central budget, underscoring Beijing’s determination to address […]

A recent survey by accounting firm BDO Global encompassing a diverse range of UK businesses, has unveiled a notable dip in business confidence as the nation grapples with a decelerating economy and a simultaneous rise in interest rates. The survey, which analyzed insights from over 4,000 companies, provides a glimpse into the prevailing challenges faced […]