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The Financial Express

Search results for: global

Saudi sovereign fund to double assets to $1.07tn in five years: Crown Prince

Saudi sovereign fund to double assets to $1.07tn in five years: Crown Prince

Reuters 2021-01-25 14:24:48

Saudi Arabia’s Public Investment Fund plans to double its assets to 4 trillion riyals ($1.07 trillion) by 2025, Prince Mohammed bin Salman said on Sunday, a move that would make it one of the wo...

Asian stocks rise to record high on Biden stimulus hopes

Asian stocks rise to record high on Biden stimulus hopes

Reuters 2021-01-21 13:50:49

Asian stocks scaled to record highs on Thursday as investors were hopeful the incoming Biden administration will be able to secure passage of a massive new stimulus package to cushion the economic dam...

Wall Street bounce, upbeat earnings lift European stocks

Wall Street bounce, upbeat earnings lift European stocks

Reuters 2021-01-21 10:50:22

European stocks rose on Wednesday after Dutch chip equipment maker ASML and Swiss luxury group Richemont gave encouraging earnings updates, while investors hoped for a large US stimulus plan as Joe Bi...

Goldman Sachs profit more than doubles

Goldman Sachs profit more than doubles

Reuters 2021-01-20 10:42:25

Goldman Sachs Group dwarfed Wall Street estimates as its fourth-quarter profit more than doubled, powered by another blowout performance at its trading business and a surge in fees from underwriting a...

Biden's Treasury nominee Yellen for big spending now, paying down debt later

Biden's Treasury nominee Yellen for big spending now, paying down debt later

-- 2021-01-20 10:10:46

Janet Yellen, US President-elect Joe Biden’s nominee for Treasury Secretary, urged lawmakers on Tuesday to “act big” on coronavirus relief spending, arguing that the economic benefit...

China economy ends pandemic-hit 2020 with growth beating forecasts

China economy ends pandemic-hit 2020 with growth beating forecasts

REUTERS 2021-01-18 12:59:42

China's economy picked up speed in the fourth quarter, with growth beating expectations as it ended a rough coronavirus-stricken 2020 in remarkably good shape and remained poised to expand further thi...

Italy's public debt may surge to post-war record high at 158.5pc of GDP

Italy's public debt may surge to post-war record high at 158.5pc of GDP

Reuters 2021-01-17 13:18:06

Italy forecasts its debt to soar to a new post-war record level of 158.5 per cent of gross domestic output (GDP) this year, surpassing the 155.6 per cent goal it set in September, a government source...

ADB, EIB form partnership to protect oceans, support blue economy

ADB, EIB form partnership to protect oceans, support blue economy

-- 2021-01-16 19:04:06

The Asian Development Bank (ADB) and the European Investment Bank (EIB) has formed a new clean and sustainable ocean partnership to support initiatives in Asia and the Pacific to help meet the SDGs an...

China's battle against fresh COVID outbreak clouds economic recovery

China's battle against fresh COVID outbreak clouds economic recovery

Reuters 2021-01-15 17:09:17

New cases in China are at 10-month highs, prompting the lockdown of 28 million people in two provinces, disrupting logistics and industrial activity, with millions expected to scrap holiday travel pla...

Turkey’s costly food starves the economic rebound

Turkey’s costly food starves the economic rebound

REUTERS 2021-01-15 15:49:34

Food has become so expensive in Turkey that some people are spending what money they have to stock up on rice and pasta to avoid swallowing even higher prices in the months ahead. Parents have switch...

Biden’s Covid-19 package offers bridge for hard-hit economy

Biden’s Covid-19 package offers bridge for hard-hit economy

REUTERS 2021-01-15 15:00:11

US President-elect Joe Biden’s proposal to pour $1.9 trillion into a hobbled economy could lay the foundation for a surge in jobs and spending that many economists say is needed to avoid long-te...

Japan's households, firms keep piling up cash at record pace

Japan's households, firms keep piling up cash at record pace

-- 2021-01-14 11:41:11

Japan’s currency in circulation and bank deposits rose at a record pace in December, data showed on Wednesday, as a resurgence in coronavirus infections prompted companies and households to cont...

Some developing nations paying high interest rate on bilateral debt: WB's Malpass

Some developing nations paying high interest rate on bilateral debt: WB's Malpass

-- 2021-01-14 11:11:38

World Bank President David Malpass urged private sector creditors to finally step up and help poor countries deal with the economic and health crises unleashed by the Covid-19 pandemic and stop collec...

Twitter tumbles after Trump ban

Twitter tumbles after Trump ban

Reuters 2021-01-12 09:27:11

Twitter’s stock tumbled over 6 per cent in the early trading on Monday (US standard time) after its move to permanently suspend US President Donald Trump’s widely-followed account spurred...

UN launches fund for women enterprises to support innovative solutions

UN launches fund for women enterprises to support innovative solutions

FE Online Desk 2021-01-11 12:54:13

The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and the United Nations Capital Development Fund (UNCDF) have recently launched a fund for women enterprises to suppor...

New Zealand central bank's data system breached

New Zealand central bank's data system breached

REUTERS 2021-01-10 10:45:33

The Reserve Bank of New Zealand said on Sunday that it was responding with urgency to a breach of one of its data systems. A third-party file-sharing service used by the central bank to share and sto...

Tesla market value crosses $800b

Tesla market value crosses $800b

Reuters 2021-01-09 11:43:00

Shares of Tesla jumped as much as 5.6 per cent on Friday, pushing the electric-car maker’s market capitalisation to more than $800 billion for the first time ever and inching closer to the trill...

Layoffs hit record in 2020 US

Layoffs hit record in 2020 US

REUTERS 2021-01-08 14:35:49

The number of Americans filing first-time claims for jobless benefits unexpectedly dipped last week while staying extremely high, with the labour market recovery appearing to stall as a raging Covid-1...

India's fiscal deficit likely to be over 7.0pc in FY21

India's fiscal deficit likely to be over 7.0pc in FY21

-- 2021-01-07 18:36:22

India’s fiscal deficit for year ending in March is likely to be over 7.0 per cent of gross domestic product, reports Reuters accrediting three sources, as revenue collections suffered from a loc...

US, Japan set for recovery in second half of 2021, IMF chief economist says

US, Japan set for recovery in second half of 2021, IMF chief economist says

Reuters 2021-01-07 16:55:59

Economic stimulus approved in the United States and Japan at the end of last year will help to power a recovery in their economies in the second half of 2021, IMF chief economist Gita Gopinath said on...

Fending off coronavirus, Vietnam revs up economy

Fending off coronavirus, Vietnam revs up economy

Reuters 2021-01-07 16:43:23

Vietnam’s success in curbing the coronavirus so far, while its Southeast Asia neighbours struggle, is helping the country power ahead in economic growth and attracting funds, foreign investors,...

Around 4,000 financial firms in Britain 'at risk of collapsing'

Around 4,000 financial firms in Britain 'at risk of collapsing'

Reuters 2021-01-07 14:23:47

Around 4,000 financial firms in Britain were at “heightened risk” of collapsing due to fallout from the first wave of the pandemic, the Financial Conduct Authority said on Thursday. The F...

NYSE to delist three Chinese telecoms

NYSE to delist three Chinese telecoms

Reuters 2021-01-07 10:48:18

The New York Stock Exchange said on Wednesday it will delist three Chinese telecom companies, confirming its latest U-turn on the matter a day after US Treasury Secretary Steve Mnuchin told the NYSE c...

PayPal-founded Affirm aims for over $9b valuation in US IPO

PayPal-founded Affirm aims for over $9b valuation in US IPO

-- 2021-01-06 13:57:57

Affirm Holdings Inc, founded by PayPal Holdings Inc co-founder Max Levchin, is aiming for a valuation of over $9 billion in its initial public offering, the lending startup said in a filing on Tuesday...

More countries may be in 'deep debt distress' this year: WB

More countries may be in 'deep debt distress' this year: WB

-- 2021-01-06 12:00:06

Chad and several other countries are already in deep debt distress and more will join their ranks this year, given the severity of the global recession triggered by the Covid-19 pandemic, World Bank G...

Stocks snap eight-day winning streak

Stocks snap eight-day winning streak

FE Online Report 2021-01-05 16:01:21

Stocks ended lower on Tuesday, snapping an eight-session winning streak, as investors opted for booking profit on major sectors issues amid vaccine uncertainty news. DSEX, the key index of the Dhaka...

Asian factories emerging from initial damage of Covid, tougher controls cloud outlook

Asian factories emerging from initial damage of Covid, tougher controls cloud outlook

-- 2021-01-04 11:06:40

Asian factory activity expanded moderately in December thanks to robust demand in regional giant China, business surveys showed on Monday, the latest sign that manufacturers are emerging from the init...

US economic recovery widens inequality

US economic recovery widens inequality

-- 2021-01-02 14:38:23

After plunging into the worst recession in decades amid coronavirus (COVID-19) shutdowns in 2020, the US economy has been recovering in recent months. With alarming case spikes and a long-delayed fis...

New York Stock Exchange to delist three Chinese telecom giants

New York Stock Exchange to delist three Chinese telecom giants

-- 2021-01-01 20:14:04

The New York Stock Exchange is starting the process of delisting securities of three Chinese telecom companies, after US President Donald Trump last month barred US investments in Chinese firms Washin...

African free trade bloc opens for business, but challenges remain

African free trade bloc opens for business, but challenges remain

Reuters 2021-01-01 18:50:14

African countries began officially trading under a new continent-wide free trade area on Friday, after months of delays caused by the global coronavirus pandemic. But experts view the New Year's Day...