Ukraine is starting to consider a shift away from the US dollar, possibly linking its currency more closely to the euro amid the splintering of global trade and its growing ties to Europe, Central Bank Governor Andriy Pyshnyi told Reuters. Potential accession to the European Union, a "strengthenin
China will commit credit lines of just under $10 billion to Latin American countries to support development, but in yuan, its top leader said when addressing a summit of Latin American and Caribbean officials in Beijing on Tuesday.President Xi Jinping delivered a speech to kick off a ministerial me
The International Monetary Fund executive board approved on Friday a fresh $1.4 billion loan to Pakistan under its climate resilience fund and approved the first review of its $7 billion program, freeing about $1 billion in cash."Pakistan’s policy efforts under the (program) have already deli
US Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer will meet China's economic tsar He Lifeng in Switzerland this weekend for talks that could be the first step toward resolving a trade war disrupting the global economy. News of the meeting announced by Washington late Tu
The Asian Development Bank (ADB) on Sunday announced plans to expand its support to long-term food and nutrition security in Asia and the Pacific by US$26 billion, bringing its total funding for food security initiatives to $40 billion over 2022-2030. The proposed assistance would fund a comprehen
California Governor Gavin Newsom has said that the Golden State will remain open to trade with China as the current U.S. administration's tariff policy has threatened the largest state economy in the country. He made the remarks in an online interview with Nikkei Asia on Friday, reports Xinhua cit
India's total exports grew over 6 per cent, reaching an all-time high of 824.9 billion US dollars during the financial year 2024-25 (April, 2024-March, 2025), according to the Ministry of Commerce and Industry on Friday. The country's total exports figure stood at 778.1 billion dollars during the
The US dollar headed for a third-straight weekly gain as signs of progress in Washington's talks with some of its trading partners and better-than-expected data eased concerns over investments in the world's largest economy. The dollar, US Treasuries and shares have bounced from steep declines las
Countries across the Middle East and North Africa face significant challenges to economic growth as the region faces economic uncertainty due to tariff measures, lower-than-recent oil prices and cuts to financial aid, the International Monetary Fund said Wednesday. The IMF's regional outlook repor
U.S. gross domestic product (GDP) shrank at an annual rate of 0.3 percent in the first quarter of this year, amid new tariff policies that have increased uncertainty and dampened confidence. The latest figure follows a 2.4 percent GDP growth in the fourth quarter of 2024, according to the U.S. Bur
The US economy contracted for the first time in three years in the first quarter, swamped by a flood of imports as businesses raced to avoid higher costs from tariffs and underscoring the disruptive nature of President Donald Trump's often chaotic trade policy. The Commerce Department's advance gr
China's leaders are downplaying the potential impact from U.S. President Donald Trump's trade war, saying they have the capacity to protect jobs and limit damage from higher tariffs on Chinese exports. The briefing Monday by several senior officials of different government ministries appeared aime
Saudi Arabia's non-oil exports soared to an unprecedented 515 billion Saudi Riyals (137.33 billion US dollars) in 2024, marking a 13 per cent increase from 2023, the Saudi Press Agency reported on Saturday. According to statistics from the Saudi Export Development Authority, the kingdom's robust e
