Russia and ASEAN adopted a joint declaration at a summit in Kazan expressing concern over global energy instability due to geopolitical tensions, supply chain issues, and market volatility. They agreed to strengthen energy security through diversified sources, protected infrastructure, and open maritime routes.
International institutions like PwC, Moody's, and Fitch are optimistic about China's economic resilience and new growth drivers, with Fitch raising its 2024 growth forecast to 4.6%. PwC's report highlights strong foreign investment in high-tech sectors and AI capabilities. Moody's affirmed China's 'A1' sovereign credit rating with a stable outlook. The article also notes advancements in AI, robotics, and green energy as key drivers.
BJP IT cell chief Amit Malviya dismissed Rahul Gandhi's warning of an 'economic tsunami' for India, citing strong economic indicators and government measures. Malviya argued India is resilient amid Middle East tensions, contrasting current strength with the UPA era.
Hong Kong's Financial Secretary Paul Chan urged deeper cooperation with Europe, citing pragmatic opportunities in trade, investment, and innovation. He noted European interest in Hong Kong's financial market and a desire to diversify away from US dollar assets.
Moody's affirmed Saudi Arabia's credit rating at Aa3 with a stable outlook, highlighting the economy's resilience to geopolitical shocks, particularly the Strait of Hormuz closure. The agency praised logistical alternatives like the "East-West" pipeline and progress in "Vision 2030" for maintaining oil flows and fostering structural maturity.
The Asian Infrastructure Investment Bank (AIIB) has launched a $10 billion facility to support member countries facing development impacts from the US-Israel war's effects on Iran. The aid will provide fast-disbursing budget support, finance critical imports, and offer liquidity.
The Asian Infrastructure Investment Bank (AIIB) has launched a $10 billion facility to support member countries dealing with the economic impacts of the US-Israel war on Iran, providing fast-disbursing budget support and financing for critical imports.
Wall Street stocks surged on Friday, with the S&P 500 and Nasdaq nearing record highs, buoyed by stronger-than-expected US jobs data. Despite ongoing Middle East tensions and oil price concerns, positive corporate earnings from companies like Monster Beverage and Akamai Technologies also fueled the rally, indicating economic resilience.
Economist Bai Chongen argues that China's status as a middle-income country with a massive population and strong commercialization capabilities distinguishes it from Japan's economic trajectory.
Weeks of conflict have worsened Iran's economic pressures, deepening strain on its financial system amid a Gulf standoff. Despite damage to infrastructure, industries and oil exports, analysts say Iran is managing through internal supplies and limited external trade, relying on its 'resistance economy' and gold reserves. While businesses report rising costs and weakening demand, key indicators show partial resilience with stable food availability and no broad withdrawal restrictions.
For the first time Ukrainian equities have been included in a London-listed fund, which aims to channel investment into the nation’s eventual post-war reconstruction and current economic resilience.
India has effectively managed the initial oil shock from the Iran war, but a proposed US naval blockade of Iranian ports threatens to disrupt Gulf energy flows, potentially driving inflation and creating a systemic 'everything crisis' across multiple economic sectors.
Yang Zhilin, founder of fast-rising start-up Moonshot AI, has become the latest artificial intelligence entrepreneur to meet Chinese Premier Li Qiang, as Beijing steps up its push to accelerate the digital transformation of manufacturing. The 32-year-old was among a select group of business leaders and experts invited to a high-level symposium on Friday, where participants offered views on China’s economic resilience and future growth drivers. Li acknowledged that the external environment had...
