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United States
Energy
U.S. fortifies strategic crude oil stockpile with new 4.65 million barrel purchase
This procurement is part of a series of contracts aimed at refilling the nation's emergency oil stockpile
Banking & Finance
U.S. debt reaches record $35 trillion, calls grow louder for responsible fiscal policy
The U.S. eclipsed the $34 trillion threshold in early January 2024
Banking & Finance
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
Economy
Will faster than expected Q2 U.S. economic growth set stage for potential Fed rate cut?
The solid growth is driven by resilient consumer spending and business investment
Markets
U.S. election to drive gold’s safe-haven demand, impact broader macro variables: Report
Rising geopolitical threats and political uncertainty will likely impact financial markets around U.S. election
Energy
Global gas demand forecast to grow 2.5 percent in 2024, driven by Asia: IEA
However, global demand growth is expected to fall below 2 percent year-over-year in the second half of 2024
Economy
U.S. retail sales rise 2.3 percent in June, May data revised up 0.3 percent
Core U.S. retail sales rose 0.9 percent in June after a 0.4 percent unrevised gain in May
Asia
China sees surge in foreign tourism with visa-free policies, diverse payment options
14.64 million foreign nationals entered China through various ports during the first six months of the year
Economy
U.S. Fed could start cutting rates this year but should remain cautious: IMF
IMF urges the U.S. government to reduce its high fiscal deficit and put debt on a downward trajectory
Miscellaneous
World’s population to reach 10.3 billion by 2080 with uneven demographic shifts across regions: Report
Rapid population doubling projected in 9 developing countries by 2054 due to very high growth rates
Energy
Global oil demand growth slows in Q2 as EVs, economic headwinds impact consumption
The IEA has forecast an oil demand growth of 970,000 barrels per day (bpd) in 2024
Economy
U.S. inflation plunges to 3 percent, fueling bets on imminent Fed rate cuts
The BLS data also showed that consumer prices fell by 0.1 percent on a monthly basis
Economy
Global wealth poised for continued growth, $83 trillion intergenerational transfer by 2040: Report
In 2023, wealth growth across the world has recovered from its 3 percent contraction the previous year
Economy
Fed will take interest rate decisions ‘when and as they need to be made’: Powell
Reducing policy restraint too late or too little could unduly weaken economic activity and employment, Powell stated
Markets
Global gold ETFs plummet $6.7 billion in 2024, marking worst performance in over a decade: Report
Data showed that Asia was an outlier that registered inflows of $3.1 billion in H1 2024
Sustainability
U.S. renewable energy consumption rises 2 percent to record-high in 2023: EIA
Renewable energy consumption in the U.S. exceeded coal for the first time in about 140 years
Markets
Amazon’s market value exceeds $2 trillion as stock surges 3.9 percent on AI optimism
U.S. stock market recorded significant gains this year as enthusiasm around AI surged
Asia
South Korea’s overseas assets reach new high of $1.911 trillion
External financial assets reached $1.911 trillion at the end of December last year
Asia
Japan’s exports reach $53 billion in May amid weak yen, robust global demand
The country's trade deficit narrowed to $7.7 billion, down nearly 12 percent from a year earlier
Economy
U.S. producer prices decline 0.2 percent in May
Data reveals 4.8 percent decline in energy index and 0.1 percent decline in food prices
Asia
China reclaims top spot with $196.5 billion in international tourism spending in 2023: Report
This reflects the continued recovery of the Asia and Pacific (APAC) region from the impacts of the COVID-19 pandemic
Europe
Microsoft to invest $3.2 billion in cloud and AI infrastructure expansion in Sweden
The tech giant plans to deploy 20,000 advanced GPUs at its Swedish data centers
Asia
Japan spends record $62 billion to prop up yen amid currency volatility
This amount exceeds the nearly 9.2 trillion yen Japan spent on yen-buying, dollar-selling operations in late 2022
Economy
U.S. economic growth in Q1 revised down to 1.3 percent, but consumer spending stays strong
Q1 GDP growth was a sharp slowdown from Q4 2023's 3.4 percent pace
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