Hong Kong’s financial chief has defended his latest budget against public criticism over the lack of sweeteners, stressing that the government must balance its finances with long-term investments for the city’s benefit. Financial Secretary Paul Chan Mo-po said on Thursday he would brief credit-rating agencies and the International Monetary Fund next month on his budget,…
Washington: An unexpectedly sturdy world economy is likely to shrug off President Donald Trump‘s protectionist trade policies this year, thanks partly to a surge of investment in artificial intelligence in North America and Asia, the International Monetary Fund said in a report out Monday. The 191-nation lending organisation expects that global growth will come in…
Even in these turbulent times, Hong Kong has reasons to count its blessings. I refer to the fundamentals of our global competitiveness, which will protect us from the fiercest storms of the current cycle of economic and geopolitical turmoil. We cannot be immune, given that many economies worldwide face challenges more severe than at any…
Britain’s annual rate of consumer price inflation remained at 3.8% in September, below expectations, official figures showed on Wednesday. Most economists polled by Reuters and the Bank of England had forecast that the headline measure of inflation would rise to 4.0% after holding at 3.8% in August and July. British inflation will be the highest…
American business leaders are looking to use Hong Kong as a “springboard” for tapping markets in China and Asia despite geopolitical tensions amid a wider reassessment of the mainland’s technological innovation, the city’s finance chief has said. Reflecting on his trip to New York and Washington last week, Financial Secretary Paul Chan Mo-po also said…
International Monetary Fund chief Kristalina Georgieva on Friday said she hoped the U.S. and China could ease trade tensions and avoid a cutoff in the flow of rare earths to the global economy that she said would have a “material impact” on growth. Such a scenario would exacerbate uncertainty and hurt an already weakened global…
By Mike Dolan -What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets Edgier world markets appeared to bat away the latest testy exchanges in the re-heated U.S.-China trade war, helped by dovish soundings from the Federal Reserve boss that included signals about an imminent end to its balance sheet…
By Stephen Culp NEW YORK (Reuters) -Wall Street stocks were mixed on Tuesday and Treasury yields dipped as investors weighed upbeat economic sentiment from the International Monetary Fund and Federal Reserve Chair Jerome Powell against revived U.S.-China trade tensions. The S&P 500 and the Dow rebounded after all three major U.S. stock indexes opened sharply…
The United States’s artificial intelligence (AI) investment boom might be an economic bubble that could burst, comparable to the dot-com bust in the early 2000s, according to the International Monetary Fund. The IMF’s chief economist, Pierre-Olivier Gourinchas, forecasted that the bust would be less likely to be a systemic event that would crater the US…
By Stephen Culp NEW YORK (Reuters) -Wall Street stocks turned sharply lower on Tuesday and Treasury yields dipped as revived trade tensions between Washington and Beijing and the prolonged U.S. government shutdown doused investor risk appetite. All three major U.S. stock indexes veered deep into negative territory in early trading, with megacap momentum stocks pulling…