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Thursday, May 28, 2020

Amid trade war, China moves to remove limits on foreign ownership in the financial industry

The China Securities Regulatory Commission on Friday released a time frame for removing limits to foreign stakes in futures, mutual fund and securities companies. The plan would give foreign companies full ownership. “This latest announcement enhances competition...

World Bank cuts Sub-Saharan Africa’s 2019,2020 economic growth forecast

NAIROBI, Oct 9 (Reuters) - The World Bank on Wednesday cut its economic growth forecast for sub-Saharan Africa for 2019 to 2021 by 0.2 percentage points from its earlier projection, citing a slowdown in fixed investment and policy uncertainty in the global economy. The bank...

Global economic growth seen slowing to post-trade crisis pace

By William Horobin OECD cuts forecasts and warns of entrenched uncertainty Says fiscal policy must do more as central banks are stretched OECD’s Laurence Boone explains why the organization sees the weakest global growth since the financial crisis. Intensifying trade...

Citi sees no trade deal before 2020 election

Trade negotiations between the U.S. and China broke down last month. Investment bank Citi said on Wednesday that it sees “no deal before the 2020 US election.” As the trade war continues, Citi expects...

India manufacturing growth drops to its lowest level in 15 months

The survey comes after official figures showed India's economy grew at an annual rate of 5.0% last quarter.

In Depth: Is the Next Global Recession in Sight?

By Wang Liwei, Yu Hairong, Zeng Jia, Zhang Qi and Han Wei As the Chinese proverb says: The moon waxes only to wane, and water surges only to overflow. After nearly 10 years of steady expansion, the world economy faces growing concerns of a looming recession....

Global Economy Continues to Walk on Eggshells, Sentiments Remain Tepid

During the previous week, sentiments in the global economy danced to different tunes, as geopolitical tensions and monetary policy signals continued to drive sentiments. The trade dispute between the U.S and China took a new turn, with China issuing an additional 5%-10% tariff on...

Morgan Stanley: Risk of a global recession is ‘high and rising’

Morgan Stanley warns clients in a note that the risk of a global recession is “high and rising” as trade headwinds aggravate economic slowdowns. Despite claims that the U.S. remains insulated, the effects of the international slowdown...

UK economy posts surprise contraction, worst quarter since 2012

Manufacturing was the biggest contributor to the overall contraction, slipping 2.3% quarter-on-quarter. On a month-to-month measure, June GDP came in at zero, versus expectations of a 0.1% rise. The British economy has shrunk for the first time since...

China’s central bank says it’s close to releasing its own digital currency

PBOC official Mu Changchun says the institution’s virtual currency is “almost ready” for release. It will have a two-tier system where both the PBOC and commercial banks can issue the token. The news comes...