Economy

China welcomes 36,968 new foreign firms and $81.7 billion in FDI in first 8 months of 2024

The high-tech manufacturing sector accounted for 12.4 percent of the total FDI, amounting to 72.1 billion yuan

U.S. consumer sentiment surges to four-month high in September as price pressures ease

Index of consumer sentiment rose 1.1 points to 69.0 in September, from 67.9 in August

U.S. household wealth rises to record $163.8 trillion in Q2 2024

Household debt rose 3.2 percent annually, the fastest pace since the third quarter of 2022

U.S. aims for $250 billion in revenue with new corporate tax rules

This tax applies to companies with average adjusted income of $1 billion or more 

U.K. housing market shifts positively as surveyors report first price balance in nearly two years

Expected sales for the next three months reached their highest level since January 2020, before the COVID-19 pandemic 

IMF supports U.S. Fed’s anticipated easing cycle as inflation risks diminish

IMF projects core U.S. PCE inflation to end 2024 at 2.5 percent, returning to the Fed's 2 percent target by mid-2025 

Russia’s Central Bank hikes interest rate to 19 percent, second increase this year amid ongoing inflation

Annual inflation in the country is currently at 9 percent, surpassing earlier predictions

U.S. weekly jobless claims rise marginally, signaling labor market stability

Initial claims for state unemployment benefits rose 2,000 to a seasonally adjusted 230,000 for the week ending on September 7

Japan’s wholesale inflation slows to 2.5 percent in August, easing BOJ price concerns

Currency's significant recovery last month impacted the import price index, which rose 2.6 percent after a 10.8 percent surge in July

Belt and Road Summit sees 19 agreements inked in key sectors on first day

Belt and Road Summit to explore the opportunities and potential areas of development as the initiative enters its next golden decade

U.S. market reactions to CPI results signal strong Fed rate cut expectations amid mixed economic signals

CPI showed annual inflation fell by 0.4 points to a lower-than-expected 2.5 percent

South Korea invests $3.7 billion to revamp medical education by 2030

Starting in 2025, 1,000 full-time faculty will be added at state medical schools by 2027, including 330 next year 

Australia’s business conditions hit 2.5-year low in August as employment outlook falls

The index for employment declined from +7 in July to +1 in August

Euro area banks rebound as ECB begins rate cuts, disbursing $78.5 billion in loans in July 2024

This resurgence is encouraging for Europe’s banks, which heavily depend on mortgage lending for profits 

India’s foreign exchange reserves reach new peak of $684 billion in August 2024, says Central Bank

RBI noted that the reserves have been on an upward trend for some time

Japan’s Q2 GDP growth revised down to 2.9 percent on slower corporate, household spending

Japan's central bank raised its key interest rate to 0.25 percent from 0-0.1 percent in July

GDP grows by 0.2 percent in Euro area and EU in Q2 2024, reports Eurostat

This follows a GDP increase of 0.3 percent in both regions during the Q1 2024

China’s foreign exchange reserves reach $3.2882 trillion at August end, up $31.8 billion

August's increase in the country’s reserves was due to currency translation and asset price changes

World food prices ease marginally in August, says UN FAO

The FAO lowered its forecast for global cereal production in 2024 by 2.8 million metric tons to 2.851 billion tons

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 

Japan’s real wages up 0.4 percent in July, second consecutive monthly rise

Japan's base wages, or regular pay, rose 2.7 percent, marking the fastest pace of increase in nearly 32 years

U.S. job openings hit 3.5-year low, 25-basis-point September rate cut remains more likely

Traders are currently closely watching the labor market following four straight monthly increases in unemployment, which sparked fears of a recession

India, Singapore elevate bilateral ties, ink four deals across key sectors

Singapore, with an investment of around $160 billion in the Indian economy, is a leading economic partner for India

Japan’s ongoing efforts to implement four-day workweek to attract, retain workers

The country is grappling with a labor shortage exacerbated by a declining birthrate