Daily Management Review
Economics

FT: Drought in Panama Canal region results in idling of LNG tankers

Waiting times have climbed from eight to 18 days since July 10, according to shipping company Norton Lilly. The Panama Canal shoaled during the rainy season due to severe drought, and LNG tankers idled for an extended period of time, writes The Financial Times. The wait time for LNG tankers in...

China Lowers Key Rates As July's Dismal Set Of Data Clouds The Outlook For The Economy

A wide range of Chinese data released on Tuesday showed that there was increased pressure on the economy from several directions. As a result, Beijing slashed key policy rates to assist activity, but economists believe that additional support is still needed to revive growth.   China's...

Japan's Second Quarter GDP Surpasses Expectations As Exports Soar

In April through June, Japan's economy expanded considerably more quickly than anticipated thanks to brisk auto exports and tourist arrivals, which lessened the negative effects of a sluggish post-COVID consumer recovery, despite the likelihood of a worldwide recession casts doubt on the future....

SCMP: China squeeze Western companies out of Africa's biggest infrastructure projects

Chinese contractors have received approximately 31% of contracts worth $50 million or more to build similar projects in Africa in 2022, according to the South China Morning Post. The largest infrastructure projects in Africa were built by Chinese contractors, who had to compete with Western firms...

China Experiences Deflation As Attempts To Spark A Recovery Stumble

As China, the second-largest economy in the world battled to restore demand and pressure built on Beijing to provide more direct policy stimuli, China's consumer sector entered a state of deflation and factory-gate prices continued to decrease in July.   There is growing concern that...

US Begins The Process Of Limiting Some Investment In Crucial Technologies In China

The White House announced on Wednesday that it will start limiting American investments in some critical Chinese technologies and needing government approval for other ventures, but warned that it might be some time befor0e the changes took effect.   An executive order requiring the U.S....

EU starts preparations to impose sanctions against Niger's rebels

The EU list will have a section on "undermining democracy," according to Reuters. The European Union (EU) has begun setting the foundation for the imposition of the initial penalties against the military that carried out the coup d'├ętat in Niger, reports Reuters. Unnamed European officials claim...

Italian Banks Are Shocked By A 40% Windfall Tax For 2023

After chastising bankers for failing to reward depositors, Italy surprised its banks and sent shockwaves through the European financial sector by imposing a one-time 40% tax on profits generated by higher interest rates.   Banks have made record profits as a result of sharply higher official...

Japan's payments surplus balance rises to $56B in the first half of 2023

It climbed by about $5.6 billion in comparison to the same period in 2022. In the first half of 2023, Japan's balance of payments, which accounts for all international trade and financial activities, reached a surplus of 8,013.2 trillion yen, or almost $56 billion at the current exchange rate....

China Cannot 'Extend And Pretend' Much Longer With Municipal Debt

The "basket of measures" that China has committed to do to reduce the risks associated with local government debt are likely to include special bond issuance, debt swaps, loan rollovers, and something that Beijing really detests: using funds from the central budget.   China's local...
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