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IMF forecasts global GDP growth to slow to 2.8% by the end of the decade 04/12/2024

ECB keeps all three key interest rates unchanged 04/12/2024

Hong Kong Is Expected To Approve Its First Spot Bitcoin ETFs In April – Reports 04/14/2024

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Economics

Pace Of Hiring Post Lockdown In UK Fastest Since Late 1990s, Shows Survey

The speed at which hiring after the lifting of lockdown measures in the United Kingdom took place in June was the fastest since at least the late 1990s as employers signed most permanent staff while the shortage of appropriate candidates reached record levels. This trend has driven up starting pay,...

Bloomberg: TikTok boosts Chinese agriculture

Live TikTok broadcasts by farmers in China's remote provinces have boosted the country's agricultural sales many times over. Bloomberg writes that consumer loyalty was won by the charisma of the sellers and the transparency of the production stages. According to a report by Douyin (the Chinese...

OECD: COVID-19 destroys millions of jobs worldwide

The coronavirus pandemic has destroyed 22 million jobs worldwide, according to a report from the Organisation for Economic Co-operation and Development (OECD) published on its website. The study focused on developed countries that belong to the OECD, so it is impossible to judge the number of jobs...

Microchip shortage leads to nearly 20% drop in car production in Japan

A shortage of microchips resulted in a sharp drop in car production in Japan and a significant drop in industrial production in the country as a whole. Japan's Ministry of Trade released data for May, showing that the country's industrial production fell by 5.9% compared to April. This is the first...

China Manufacturing Slows Ion June Amid Wider Supply Chain Disruptions In Asia

Higher costs of raw materials, a shortage of semiconductors and an outbreak of Covid-19 in the major export province of Guangdong – even while a wider supply chain disruption in Asia ensued, forced down growth of factory activity in China in June – reaching to a four month low. Other...

Bloomberg: Saudi Aramco may raise oil prices for Asia

Saudi Arabia's state-owned oil and gas company Saudi Aramco could raise August oil prices for Asian buyers, according to Bloomberg’s survey. Most analysts polled by the agency expect Saudi Arabia to raise the selling price of Arab Light, the basis for pricing other grades, by $0.65 a barrel for...

Japan's May Retail Sales Grows For The 3rd Straight Month

With Japanese households expending more, there was surge in retail sales in the country in May that beat analysts’ expectations. However, Covid-19-linked pressures continued to put pressure on the underlying trends in consumption which again suggested that the complete recovery of the third largest...

More Firms In Singapore Move Online As Covid Upend Their Physical Business

The disruption to the brick-and-mortar operations of companies of Singapore caused by the covid-19 pandemic is forcing more companies from the city state to move their business online to adapt to the new trend of online shopping. The pandemic even forced a rethink of their business...

Australia initiates WTO dispute with China over wine duties

Australia asked the World Trade Organisation (WTO) to start consultations with China over China's anti-dumping duties on Australian bottled wine, the WTO press office said. As explained, Australia argues that the measures are incompatible with various provisions of the WTO Anti-Dumping Agreement,...

Chinese Ban On Crypto Mining Forces Some Bitcoin Miners To Flee Or Sell Out, Says Reports

The cryptocurrency mining industry of China accounts for more than half of global bitcoin production which has been virtually paralysed because of the sweeping ban on cryptocurrency mining by Chinese authorities. According to reports, Chinese cryptocurrency miners are dumping their...