Banking & Finance

China’s industrial profits top $814 billion in Jan-Oct

Over 60 percent of industrial sectors experienced enhanced profitability in October relative to the prior month  

Fed to keep interest rates unchanged in December, says Nomura

Other global brokerages, including Goldman Sachs and J.P.Morgan, anticipate a 25 bps cut from the central bank next month

Fed’s Powell says no need to hurry in lowering interest rates amid stronger U.S. economy

Economy's recent performance has been 'remarkably good, by far the best of any major economy in the world'.

Fed’s Powell signals cautious approach to future interest rate cuts

Powell said the results of Tuesday's presidential election would have no 'near-term' impact on U.S. monetary policy

China central bank doesn’t buy gold for 6th straight month

Central bank buying slowed in but demand remained robust at 186 tons

Federal Reserve on track for two 25-basis-point interest rate cuts this year

The Federal Reserve will begin its two-day policy meeting only a day after the U.S. presidential election on Tuesday

Bank of Japan keeps interest rates unchanged at around 0.25 percent

Central bank lowered the projected inflation rate for fiscal 2025 from 2.1 percent to 1.9 percent, below the bank's price stability goal of 2 percent

Global VC investment rises to five-quarter high of $94.3 billion: Report

AI accounted for over half of the 10 largest funding rounds globally as VC investors continued to show interest in the sector

China’s privately offered funds hit $2.76 trillion by end-September

Equity investment funds, valued at 10.89 trillion yuan, were the largest category

China cuts benchmark lending rates by 25 basis points

Banks' reserve requirement ratio could decline by another 25 to 50 basis points by the end of the year

South Korea to provide $6.45 billion in financial support for semiconductor industry by 2025

The government will allocate 1.7 trillion won next year for chip R&D and talent development 

Global public debt to exceed $100 trillion this year, say IMF

Global public debt could reach 115 percent of GDP in three years, nearly 20 percentage points higher than currently projected

China advances green finance with 19 key measures

The guideline highlights the green transformation of industries and ecosystem restoration

South Korea reports $1.7 billion increase in revenue, yet faces $62.43 billion fiscal deficit in first 8 months of 2024

The finance ministry noted that this year's deficit is the third-largest ever for the specified timeframe

Hurricane Milton to push global insured losses to over $100 billion, says Fitch

Milton’s insured losses will likely range from $30 billion-$50 billion, the largest insured loss since Hurricane Ian in 2022

European Council to mobilize $100 billion annually in climate finance through 2025

The council reaffirmed its commitment to climate finance and aims for new targets beyond 2025.

Major multilateral banks have $480 billion headroom in new lending before rating downgrades: Fitch

The three biggest multilateral development banks by total assets have the most lending headroom in billions of U.S. dollars

South Korea’s foreign reserves up for third month to $419.97 billion in September 2024

The BOK attributed the rise to higher non-dollar asset values, driven by a weaker U.S. dollar and investment gains 

China’s external financial assets surpass $9.79 trillion by end of June

Financial liabilities exceeded $6.8 trillion at the same date, resulting in net external assets of nearly $2.99 trillion 

Policy will move over time toward a more neutral stance: Fed’s Powell

In the last 12 months, headline and core inflation in the U.S. were 2.2 percent and 2.7 percent, respectively

Swiss National Bank lowers interest rate to 1.0 percent as inflation falls

Inflation fell to 1.1 percent in August from 1.4 percent in May, partly due to a stronger Swiss francÂ