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Region
Africa
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Africa
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
Africa
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
Africa
$30 million data centre inaugurated in Congo to catalyze digital economy
The 400-rack capacity facility is expected boost DRC's digital landscape
Africa
Senegal’s first satellite is in orbit: A collaborative effort to harness space technology for socio-economic progress
The move aims to enhance natural resource management and disaster preparedness
Africa
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
Africa
Microsoft, G42 launch $1 billion digital ecosystem initiative for Kenya
Initiative includes building state-of-the-art data center campus in Olkaria, Kenya
Asia
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Asia
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 gainsÂ
Asia
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
Asia
Japan’s unemployment rate drops to 2.5 percent in August as employment reaches record levels of 67.91 million
The number of unemployed persons fell by 8.0 percent to 1.72 millionÂ
Asia
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 trillionÂ
Asia
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
Asia
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
Europe
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Economy
U.K. International Investment Summit to boost global trade, investment ties
Summit to feature senior executives from leading tech companies
Banking & Finance
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
Economy
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
Economy
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
Economy
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 pandemicÂ
Europe
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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Features
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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Economy
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
Europe
Sweden’s trade surplus grows to $640 million in July 2024
Non-EU trade surplus hit SEK 22.7 billion during this period
Logistics
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
Economy
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)
Features
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
Cars & Boats
The Gulf Craft Majesty 160 is the newest composite superyacht by the UAE shipyard
Mono-hull yacht setting a new standard in maritime luxury
United States
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Economy
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
Banking & Finance
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
Energy
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
Economy
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
Banking & Finance
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
Economy
U.S. consumer confidence falls to 98.7 amid labor fears, largest drop since August 2021Â
Despite sharp decline in index, more households expressed intentions to purchase homes in the next six months
Worldwide
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Economy
South Korea inks $2 billion agreement with Philippines to boost infrastructure projects in developing nationsÂ
The deal stipulates that Korea will allocate $905 million from the fund for the construction of the initial segment of the Laguna Lake Road NetworkÂ
Asia
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 gainsÂ
Asia
Japan’s unemployment rate drops to 2.5 percent in August as employment reaches record levels of 67.91 million
The number of unemployed persons fell by 8.0 percent to 1.72 millionÂ
Asia
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 trillionÂ
Asia
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 MongoliaÂ
Asia
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