International News

Toxic gas leak in Jordan leaves 13 dead and hundreds injured

  A leak of toxic chlorine gas at Jordan's Red Sea port of Aqaba has killed 13 people and injured more than 260 others, state media report. Authorities said a chemical storage container fell while being transported as a result of a crane malfunction. CCTV footage showed the conta ...

IMF CRITIQUED FOR DROPPING TOUGH LOAN STANDARDS FOR COVID FUNDS

The International Monetary Fund’s deployment of $818 billion, often without conditions, to help the world deal with the Covid-19 pandemic is spurring concern from some former officials that the institution is abandoning its focus as a hard-nosed lender of last resort for distressed economies.T ...

IMF CRITIQUED FOR DROPPING TOUGH LOAN STANDARDS FOR COVID FUNDS

The International Monetary Fund’s deployment of $818 billion, often without conditions, to help the world deal with the Covid-19 pandemic is spurring concern from some former officials that the institution is abandoning its focus as a hard-nosed lender of last resort for distressed economies.T ...

SUPPLY CHAIN CRISIS RISKS TAKING THE GLOBAL ECONOMY DOWN WITH IT

  Last year the global economy came juddering to a halt. This year it got moving again, only to become stuck in one of history’s biggest traffic jams. New indicators developed by Bloomberg Economics underscore the extremity of the problem, the world’s failure to find a quick fix a ...

THE U.S. FEDERAL RESERVE’S TAKE ON GREENING THE ECONOMY: NOT OUR JOB

  The U.S. Federal Reserve trails other major central banks in tackling climate risk, despite President Joe Biden’s pledge of a “whole-of-government” approach and efforts to salvage his ambitious climate agenda. In recent years, the Federal Reserve has only begun to examine ...

COMMERZBANK EXPECTS 2021 PROFIT AS EUROPE BANKS POST STRONG Q3

  In the midst of a major overhaul, Germany’s Commerzbank on Thursday swung to a better-than-expected third-quarter net profit and forecast a profit for the full year, defying analysts predictions for a 2021 loss. The quarterly results were supported by a decrease in provisions set asid ...

CHINA’S ECONOMY FACES NEW DOWNWARD PRESSURE, PREMIER LI SAYS

  China’s economy faces new downward pressures and has to cut taxes and fees to address the problems faced by small and medium-sized companies, according to the country’s Premier Li Keqiang. Li did not specify the extent of the new “downward pressure” or its cause, but ...

CHINA TESTS OIL CLOUT, BATTLES INFLATION WITH FIRST OIL RESERVE AUCTION

China’s first crude oil reserve auction could have an outsized impact on market sentiment, signaling the top oil importer remains committed to reining in inflation by controlling commodity prices, analysts and trading executives said. The initial sale from its strategic petroleum reserves (SPR ...

CHINA’S ECONOMY WEAKENS ON DELTA OUTBREAK AND WARY CONSUMERS

Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. China’s economy took a knock in August from stringent virus controls and tight curbs on property, fueling concerns about the global recovery as countries battle to get delta outbreaks under control ...

CHINESE STOCKS ARE TOO RISKY RIGHT NOW – BUY ITS BONDS INSTEAD, J.P. MORGAN’S JOYCE CHANG SUGGESTS

A major investment bank is avoiding Chinese stocks, but buying its bonds. J.P. Morgan’s Joyce Chang believes the country’s regulation crackdown is heating up and will create downward pressure on major market groups and industries. “We really recommended [investors] to stay sideline ...

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