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U.S. Bans Chinese Firms in Uyghur Region as Beijing Fights Forced Labor Claims

Background and Recent Developments The U.S. Department of Homeland Security (DHS) has expanded its Uyghur Forced Labor Prevention Act (UFLPA) blacklist by adding two Chinese companies: a steel manufacturer and an artificial sweetener producer. These firms have been accused of participating in forced labor practices involving Uyghur Muslims and other minority groups in China’s Xinjiang […]

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US, Norway Deepen Critical Minerals Cooperation Amidst Competition with China and Russia

In a significant move to strengthen global critical mineral supply chains, U.S. Secretary of State Antony Blinken and Norwegian Foreign Minister Espen Barth Eide signed a Memorandum of Understanding (MoU) in Washington on October 1, 2024. This collaboration marks a crucial step in the U.S. strategy to secure essential minerals, reducing dependency on single-country dominance—namely […]

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Port Workers at East and Gulf Coast Terminals Steam Toward a Strike for the First Time Since 1977

U.S. ports along the East and Gulf Coasts are on the brink of closure as dockworkers prepare to strike, a scenario that hasn’t occurred since 1977. Tens of thousands of port workers, represented by the International Longshoremen’s Association (ILA), and the United States Maritime Alliance (USMX), which represents port operators and shipping companies, have reached […]

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Eurozone Government Bond Yields Drop After Inflation Data

Eurozone government bond yields fell on Friday following the release of inflation data from France and Spain, causing markets to adjust their expectations for interest rate cuts by the European Central Bank (ECB). Investors closely monitored developments in inflation and anticipated upcoming U.S. economic data, which could influence monetary policy on both sides of the […]

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Global Digital Creative Economy to Reach $7.35 Trillion by 2030

The global digital creative economy is poised to experience remarkable growth, reaching a staggering valuation of AED 27 trillion (approximately $7.35 trillion) by 2030. This prediction, highlighted in a recent white paper published by Dubai Design District (d3) and Dubai Media City, underscores the economic potential of creative industries powered by disruptive technologies such as […]

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US Fiscal Outlook Expected to Weaken Under Next Administration, Moody’s Warns

On September 24, 2024, Moody’s Investors Service issued a report highlighting concerns about the future of the U.S. fiscal profile as the country heads into its 2024 presidential election. Regardless of whether Democrat Kamala Harris or Republican Donald Trump emerges as the victor on November 5, Moody’s anticipates that political challenges and the country’s already […]

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BOJ and PBoC Keep Rates Unchanged, Dollar on the Backfoot

The global financial landscape has been filled with cautious moves and careful maneuvers, as central banks in major economies like Japan and China kept their interest rates unchanged amidst a delicate balance of inflationary pressures, economic slowdown, and fluctuating market dynamics. Both the Bank of Japan (BOJ) and the People’s Bank of China (PBoC) are […]

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Bank of Japan Keeps Rates Steady, Upgrades View on Consumption Amid Economic Recovery Signs

The Bank of Japan (BOJ) maintained its short-term interest rates at 0.25% following a two-day meeting that concluded on September 20, 2024. This move, widely anticipated by market analysts, underscores the central bank’s ongoing efforts to balance between inflation control and fostering economic recovery. The BOJ also revised its outlook on consumption, offering a more […]

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Sri Lanka’s Presidential Election to Test Economic Green Shoots

Sri Lanka’s presidential election, scheduled for Saturday, is set to be a crucial event that could shape the nation’s future trajectory, both politically and economically. The election has raised concerns about the ongoing economic recovery and its long-awaited debt restructuring deal with bondholders. As the nation grapples with lingering economic challenges, the outcome of this […]

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