World economy
Hong Kong court orders liquidation of fallen Chinese real estate giant Evergrande
29 Jan 2024
A Hong Kong court has ordered the liquidation of Chinese property developer Evergrande, the country’s second largest by sales, raising the prospect of burying a $300 debt pile of the embattled group.
ECB keeps policy interest rates unchanged; points to slowing inflation
27 Jan 2024
The European Central Bank (ECB) on Thursday decided to leave its policy interest rates untouched, following its assessment of a declining trend in inflation rate.
Canada announces major reduction in international student offtake
23 Jan 2024
Canada’s immigration minister Marc Miller on Monday announced plans for a reduction in international student admissions to Canadian educational institutions for the next two years.
Earthquake of 7.6 magnitude strikes Japan, but tsunami threat passes off
02 Jan 2024
A massive earthquake with a magnitude of 7.6 hit the Ishikawa prefecture in central Japan, triggering around 1 metre high tsunami waves in parts of Japan’s west coast along the Sea of Japan.
EU Council to lift air and sea travel curbs on Romanians, Bulgarians
31 Dec 2023
Member countries of the European Union (EU) have unanimously agreed to lift all air and maritime border controls with Bulgaria and Romania, commencing 31 March 2024.
RBC gets govt nod for $10 bn acquisition of HSBC Canada
23 Dec 2023
The Canadian government on Thursday granted approval for Royal Bank of Canada’s C$13.50 billion ($10.20 billion) acquisition of the Canadian assets of HSBC (HSBC Canada)
US Fed keeps policy rate unchanged at 5.25-5.50%
15 Dec 2023
The US Federal Reserve has decided to keep policy interest rate unchanged for a third time in succession, saying that any further tightening of financial and credit conditions will weigh on economic activity, hiring, and inflation.
Bahrain’s Investcorp looks to raise up to $548 m in yuan fund
14 Nov 2023
Encouraged by its successful share sale through an IPO, Investcorp Capital, an alternative asset manager based in Bahrain, is reported to be looking to raise 2 billion to 4 billion yuan
Greek government sells 20% stake in National Bank
13 Nov 2023
The Greek government on Tuesday announced the sale of a 20 per cent stake in National Bank of Greece (NBG).
World Bank warns Middle East conflict could trigger global commodity and oil price surge
31 Oct 2023
The World Bank has sounded the alarm, cautioning that the ongoing conflict between Israel and HAMAS in the Middle East has the potential to significantly
India, US, Brazil join to spearhead Global Biofuels Alliance
10 Sep 2023
In yet another big deal for India, which is the current president of the G20, the summit in New Delhi announced the formation of a Global Biofuels Alliance.
Brazil's president proposes common currency for BRICS nations
24 Aug 2023
The President of Brazil, Luiz Inacio Lula da Silva, popularly known as Lula, proposed the idea of establishing a common currency among the BRICS nations.
JPMorgan Chase acquires majority stake in failed First Republic Bank
06 May 2023
JPMorgan Chase has offered to protect all $92 billion of deposits - insured and uninsured - bringing its financial strength, capabilities and capital to the US banking system and First Republic
ECB raises interest rates by 25 basis points
05 May 2023
Silicon Valley Bank, sixteenth-largest US bank, collapses
11 Mar 2023
The run on the bank followed a letter sent by Silicon Valley Bank chief executive officer Greg Becker to shareholders stating that the bank had suffered a $1.8 billion loss on the sale of US treasuries and mortgage-backed securities and also outlined a plan to raise $2.25 billion to shore up capital
India, well placed to lead G20 towards `One Earth, One Family, One Future’
06 Mar 2023
“In a world facing multiple challenges and rising geopolitical tensions, India’s G20 presidency is critical — and beautifully captured in the theme: One Earth, One Family, One Future,” the IMF MD said in a blog post
India seeks unity of Global South to grow past a ‘frozen’ United Nations
16 Jan 2023
As many as 125 countries, which included 29 countries from Latin America and Caribbean, 47 countries from Africa, seven from Europe, 31 from Asia and 11 from Oceania, participated in the summit, while China and Pakistan were absent
Rising debt could undermine South Asia’s growth: RBI governor
10 Jan 2023
Multiple external shocks in the form of Covid related global supply chain disruptions, food and energy crisis following the war in Ukraine, and financial market volatility arising from the aggressive monetary policy tightening have exerted sustained price pressures in the South Asian economies, RBI governor Shaktikanta Das told a meeting of the International Monetary Fund
Rishi Sunak becomes UK’s first Indian origin Prime Minister
25 Oct 2022
Sunak must ensure that his team is focused on overcoming a tumultuous economic crisis even as his government fixes the mistakes made by his predecessors