Indonesian President Prabowo Subianto said on Monday that the Southeast Asian country is committed to becoming a member of BRICS, citing its significance to the world's economy. Indonesia formally applied for BRICS membership in October during the 16th BRICS Summit held in Kazan, Russia. Prabowo s
The International Monetary Fund (IMF) warned on Tuesday that ‘tit-for-tat’ tariffs could undermine Asia's economic prospects, raise costs and disrupt supply chains even as it expects the region to remain a key engine of growth for the global economy. "The tit-for-tat retaliatory tariff
Latin American poverty levels in 2023 fell to a 33-year low, led by progress in Brazil, the United Nations' Economic Commission for Latin America and the Caribbean (ECLAC) said in a report on Tuesday, even as severe inequality persists in the region. ECLAC said Latin America is marked by high ineq
The US dollar rose toward a four-month peak versus major peers on Tuesday, while bitcoin extended its record rally as investors continued to pile into trades seen as benefiting from the incoming Donald Trump administration. The euro languished near an almost seven-month trough reached overnight, a
The Asian Development Bank (ADB) on Monday said it has approved a financing package of 21.95 million US dollars to boost Maldives' capacity to combat the effects of climate change and ensure the sustainability of its food systems. The ADB said in its press release that the financing package compri
World food prices rose in October to an 18-month high as vegetable oils led increases seen in most food staples, United Nations' data showed on Friday. A price index, compiled by the UN Food and Agriculture Organization (FAO) to track the most globally traded food commodities increased to 127.4 po
China has introduced new measures to revive its struggling economy, anticipating potential challenges from a second Trump presidency. The government aims to address substantial local government debt, which risks dampening growth, reports bdnews24.con citing the BBC. Trump’s election platfor
Thailand's economy stands to gain from any US-China trade war, Thai Commerce Minister Pichai Naripthaphan said on Thursday, adding the Southeast Asian country had good relations with both nations and would not need to take sides in a dispute, reports Reuters. In a trade war, US imports of Ch
The World Bank announced on Thursday a new gender strategy aimed at boosting economic opportunities for women and enabling their participation in the global economy through social protection and access to broadband and capital. The Gender Strategy 2024-2030, unveiled during the International Monet
The risk of Japan ending up with a minority coalition government after the upcoming general election is raising concerns that the central bank could face complications in its quest to gradually wean the nation off decades of monetary stimulus. Several recent polls have shown the possibility of the
The International Monetary Fund on Tuesday raised its 2024 economic growth forecasts for the US, Brazil and Britain but cut them for China, Japan and the euro zone, adding that risks abound from armed conflicts, potential new trade wars and the hangover from tight monetary policy. The IMF's latest
Higher prices are here to stay, which adds to economic pain also stemming from slow growth and high debt, the International Monetary Fund's managing director, Kristalina Georgieva, said on Monday. "The pain we all feel because prices have gone up is here to stay, and a higher level of prices makes
The European Central Bank cut interest rates for the third time this year on Thursday, saying inflation in the euro zone was increasingly under control while the outlook for the wider economy was worsening. The first back-to-back rate cut in 13 years marks a shift in focus for the euro zone’
