China’s manufacturing sector experienced a significant slowdown in August, as indicated by the official factory survey. The purchasing managers’ index (PMI) dropped to a six-month low of 49.1, falling below the 50-mark that separates growth from contraction. This decline for the fourth consecutive month was unexpected, raising concerns about the state of the economy. The
Economy
The Bank of Israel is facing a challenging economic environment characterized by rising price pressures and persistent geopolitical risks. Despite concerns over inflation reaching a 3.2% rate and ongoing conflicts such as the Gaza war, the central bank has maintained its benchmark interest rate at 4.5% for the fifth consecutive decision. Deputy governor Andrew Abir
Poland’s largest opposition party, the nationalist Law and Justice (PiS), is set to lose millions in state funding after the electoral commission’s ruling. The commission stated that PiS had misused public money for campaigning during the 2023 general election. This decision is expected to have significant implications for the party’s future and political influence in
The Bank of Israel has made it clear that they do not intend to lower short-term interest rates at their remaining two policy meetings in 2024. This decision comes as a result of rising price pressures and ongoing geopolitical risks. Despite holding the benchmark interest rate at 4.5% for five consecutive decisions, concerns about inflation
The mood across Asian markets is likely to be one of caution on Wednesday for two main reasons. Investors are concerned about the health of the U.S. economy, which could have far-reaching implications for global markets. Additionally, Nvidia’s earnings report later in the day is expected to impact market sentiment. While U.S. and world stocks
Federal Reserve Chair Jerome Powell’s recent speech at the Jackson Hole Economic Symposium sent ripples through the financial markets with its significant dovish shift in the central bank’s stance on monetary policy. Powell’s remarks indicated a willingness to lower interest rates, aligning with the market’s expectations for a series of rate cuts. This shift highlights
Thailand’s central bank, despite differing views on certain issues, has expressed readiness to collaborate with the finance ministry under the new government. Prime Minister Paetongtarn Shinawatra, who recently took office, has raised concerns about central bank independence being an hindrance to economic growth. This is in contrast to the previous Prime Minister, Srettha Thavisin, who
Pavel Durov, the billionaire founder and CEO of the popular messaging app Telegram, was arrested at the Bourget airport outside Paris. Telegram, known for its influence in Russia, Ukraine, and the former Soviet Union, ranks among the top social media platforms globally. Durov’s decision to leave Russia in 2014 after refusing government demands to shut
Pavel Durov, the billionaire founder and CEO of the Telegram messaging app, was recently arrested at the Bourget airport outside Paris. The investigation surrounding his arrest is reportedly focused on a lack of moderators on Telegram, allowing criminal activity to thrive on the messaging platform. Durov, a Russian-born entrepreneur, is the founder and owner of
Prime Minister Keir Starmer is gearing up to deliver a speech to the British public next week, where he will not sugarcoat the reality of the challenges ahead. In a stark warning, Starmer acknowledges that the road to fixing Britain’s deep-seated issues will be long and arduous, cautioning that “things will get worse before we