Region

China pledges $51 billion in funding to Africa for infrastructure, job creation

China will provide Africa with RMB360 billion of financial support in the next three years, including RMB 210 billion in credit lines

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

$30 million data centre inaugurated in Congo to catalyze digital economy

The 400-rack capacity facility is expected boost DRC's digital landscape

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

Microsoft, G42 launch $1 billion digital ecosystem initiative for Kenya

Initiative includes building state-of-the-art data center campus in Olkaria, Kenya

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 

South Korea’s inflation slows to 3.5 year low of 1.6 percent in September

September's figure marked the lowest inflation level since February 2021 when consumer prices grew 1.4 percent

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 

Japan’s manufacturing sector deteriorates slightly in September on weaker demand, says PMI

Japan's manufacturing PMI declined from 49.8 in August to 49.7 in September, indicating a slight slip in overall operating conditions

India dominates global IPO landscape with over 220 deals worth $12.2 billion: Report

The U.S. came in second with 133 deals of $23.1 billion while China ranked third with 69 transactions worth $5.3 billion

U.K. International Investment Summit to boost global trade, investment ties

Summit to feature senior executives from leading tech companies

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 franc 

U.K. public sector net debt reaches 100 percent of GDP in August, borrowing hits $18.24 billion

The central government's total expenditure was £90.5 billion in August 2024, £6.1 billion more than in August 2023

Bank of England holds rates at 5 percent, boosting pound to over two-year highs

The Committee unanimously cut U.K. government bond purchases by $93.77 billion, reducing the total to $523.58 billion

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 

Amazon plans over $10 billion investment in U.K. data centers, supporting 14,000 jobs annually

Amazon has made direct investments of more than £56 billion in the U.K. between 2010 and 2022

Saudi Arabia

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Exclusive interview with Chris Newman, Executive Director, NEOM Hotel Development

With 95% of the land protected for nature, NEOM offers incredible biodiversity

United Arab Emirates

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U.S. consumer confidence at six-month high in August despite lingering labor market fears

In August, U.S. consumer confidence declined among consumers under 35 while it increased for those 35 and older

Sweden’s trade surplus grows to $640 million in July 2024

Non-EU trade surplus hit SEK 22.7 billion during this period

Apple’s iPhone sales jump 52 percent in China during April 2024

Shipments of foreign-branded phones in China increased by 52 percent in April 2024 to 3.495 million units

U.S. annual inflation slows to 3.4 percent in April, monthly CPI up 0.3 percent

The main drivers of the CPI increase were the rising costs of shelter (up 0.4 percent) and gasoline (up 2.8 percent)

Exclusive Interview with Sheikha Bodour bint Sultan Al Qasimi, leading Sharjah to new horizons

City renowned for being people-centric, entrepreneurial, sustainable and culturally vibrant

United States

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U.S. job openings rise to 8 million in August, signaling labor market recovery

Layoffs declined in August to 1.6 million from 1.7 million in July

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

Tropical Storm Helen halts 24 percent of oil production in Gulf of Mexico

The U.S. Gulf of Mexico accounts for around 15 percent of total domestic oil production and 2 percent of natural gas production

U.S. home prices rise slightly in July 2024 amid slowing momentum, improving supply conditions

Mortgage rates drop to 4.75 percent to 5.00 percent range as housing affordability improves

U.S. fiscal profile expected to deteriorate under incoming administration, says Moody’s

The report stated that the new administration will face a worsening fiscal landscape as debt affordability declines

U.S. consumer confidence falls to 98.7 amid labor fears, largest drop since August 2021 

Despite sharp decline in index, more households expressed intentions to purchase homes in the next six months

Worldwide

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South Korea inks $2 billion agreement with Philippines to boost infrastructure projects in developing nations 

The deal stipulates that Korea will allocate $905 million from the fund for the construction of the initial segment of the Laguna Lake Road Network 

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 

South Korea, China, and Japan unite to tackle plastic pollution

The three countries agreed to strengthen cooperation in reducing yellow dust levels, particularly in collaboration with Mongolia 

China’s international trade reaches $585.2 billion in August, 4 percent YoY growth

The nation's exports of goods and services totaled $322.4 billion, while imports were recorded at $263.5 billion