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Saturday, October 31, 2020

Business leaders agree on urgent reforms as global economy faces its ‘worst state in a century’

On Monday, business leaders under the Business Twenty group made 25 policy recommendations for the G-20 group. Each recommendation fell into three key areas: empowering people, safeguarding the planet and shaping new frontiers. Top business leaders say the global economy is facing its worst crisis in...

Renminbi strength foretells dollar’s decline

by Mansoor Mohi-uddin The writer is chief economist at Bank of Singapore The renminbi has become a prime indicator of the dollar’s fortunes in the same way that Japan’s yen was in the 1990s. Indeed, the sharp rebound in China’s currency this year is a clear...

Eurozone GDP Breakdown Reveals Ongoing Drag from Leisure and Transport Sector

Fitch Ratings-London-29 September 2020: The leisure and transport (L&T) sector was a key driver of the decline in eurozone GDP in 2Q20 and will likely continue to hold back the broader economic recovery over the next year or so. All sectors of the eurozone economy...

Dollar jumps as risk assets tumble on rising COVID-19 cases, U.S. election uncertainty

By Sinéad Carew NEW YORK (Reuters) - The U.S. dollar index soared to an almost six-week high on Monday and riskier currencies fell as investors sought safety and global stock markets tumbled on fears about rising COVID-19 cases and uncertainty surrounding November’s U.S. elections. The euro...

Global banks seek to contain damage over $2 trillion of suspicious transfers

By Alun John, Sumeet Chatterjee, Lawrence White HONG KONG/LONDON (Reuters) - Global banks faced a fresh scandal about dirty money on Monday as they sought to limit the fallout from a cache of leaked documents showing they transferred more than $2 trillion in suspect funds...

Fitch says Over 60% of Global Bank Rating Outlooks Are Negative

Fitch Ratings‘ new interactive country-by-country map of bank rating trends shows that the balance of Outlooksglobally has turned sharply negative since the onset of the coronavirus pandemic. The proportion of bank ratings on Negative Outlook or Rating Watch Negative (RWN) shot up to over...

Lagarde: EU financial chiefs must pursue tighter rules on digital currency based on public consultation

Finance chiefs from the euro area said a strict regime is needed to control digital currencies and keep private initiatives such as Facebook Inc.’s Libra project from threatening financial stability. Speaking in Berlin on Friday, top officials from the bloc’s biggest economies sought to reinforce...

Coronavirus: Global manufacturing set for biggest collapse in decades but impacts uneven – report

The dramatic drop reflects the economic impact of measures imposed to halt the spread of COVID-19 VIENNA, Austria, September 7, 2020/ -- During the second quarter of 2020, manufacturing production fell sharply in most countries around the world, with the notable exception of China where...

Global manufacturing activities on recovery path as August PMI print strong in major economies

Across the globe this week, a major signalling macroeconomic indicator published by many statistics bureau is the Manufacturing Purchasing Managers’ Index (PMI) for the month of August, 2020. major economies, Global manufacturing activities The Manufacturing PMI is a composite index, used to measure the overall performance...

World food price index rises for third month running in August – FAO

Rome, Sept. 3, 2020 (Reuters/Naija247news) World food prices rose for a third month running in August, led by coarse grains, vegetable oils and sugar, the United Nations food agency said on Thursday. The Food and Agriculture Organisation (FAO)’s food price index, which measures monthly changes...
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