Banking & Finance

ECB considers rate cuts as inflation reaches lowest levels since mid-2021, says official

Investors expect two or three more borrowing cost cuts this year, with additional actions in 2025 

EU approves $221 million subsidies to boost Germany’s offshore renewable energy infrastructure

New docking facilities on Germany's North Sea coast will handle heavy loads, including wind farm components

Japanese companies achieve record $244 billion in pretax profits during April-June

Capital spending surges 7.4 percent to 11.92 trillion yen in Q2

India’s fintech industry attracts $31 billion in investment

Startups in this field have surged by 500 percent, says Prime Minister

Eurozone inflation hits 3-year low of 2.2 percent in August, signaling possible ECB rate cut next month

The inflation landscape is gradually improving, highlighting the progress toward the ECB's 2 percent target

China’s lending to Africa rises for the first time in seven years in 2023, reaches $4.61 billion

Between 2000 to 2023, Chinese lenders provided 1,306 loans amounting to $182.28 billion to 49 African governments and 7 regional borrowers

South Korea sets 2025 budget at $509.71 billion amid fiscal restructuring

The country allocated 29.7 trillion Won for R&D in 2025 budget

India’s central bank to launch Unified Lending Interface platform to digitalize banking services

Platform is part of RBI's efforts to digitalize banking services, which has made India one of the fastest-growing digital payments markets globally

South Korea’s foreign currency deposits rise for 2nd straight month in July to 94.44 billion

U.S. dollar deposits jumped $4.57 billion dollars from a month earlier to $78.04 billion by the end of July

Pakistan’s IT exports surge 32 percent to $297 million in July on software and telecommunications

Software consultancy services saw a significant surge, increasing by 24.53 percent to reach $77.262 million

Taiwan’s TSMC breaks ground on $11 billion chip factory in Germany

TSMC expects to hold a 70 percent stake in the Germany plant, with the other partners will each hold 10 percent

U.S. oil and gas M&A activity surges 57 percent to $49.2 billion in 2023

Exploration and development spending last year saw a 28 percent increase to $93.1 billion

South Korea’s mid-sized businesses hit $2.52 billion in Q2 profits on semiconductors and auto parts

The operating profits of automobile and auto parts businesses increased 18.9 percent during the same period

U.S. federal budget deficit rises 10 percent to $244 billion in July 2024

During the first 10 months of fiscal year 2024, the U.S. budget deficit declined 6 percent to $1.517 trillion

Leading Chinese chipmaker SMIC revenues rise 21.8 percent to $1.9 billion in Q2 2024

The company's capital expenditure reached $2.25 billion in the second quarter

Meta raises $10.5 billion in debt offering to supercharge AI investments, outpace competition

Analysts projected Meta's 2024 capex at $35-40 billion, but the company raised the minimum to $37 million

South Korea’s current account surplus hits seven-year high of $12.26 billion in June

South Korea's cumulative current account surplus for the first six months of 2024 reached $37.73 billion

Optimism grows for U.K. markets as Bank of England slashes rates, boosts growth outlook

The BoE cut rates by 0.25 percent to 5.0 percent, a decision viewed as a close call

Bank of Japan surprises with rate hike for second time since 2007, trims bond buying

The central bank raised its short-term policy rate to levels not seen since 2008, defying market expectations

Ethiopia secures $3.4 billion IMF financing program with $1 billion immediate disbursement

The Ethiopian central bank has floated the birr, a crucial step for securing IMF support and progressing its debt restructuring

Global transition to low-carbon economy needs $3 trillion each year until 2050: Yellen

In 2022, wealthier economies provided an all-time high of $116 billion for climate finance for developing countries