Economy Financial News

Texas Attorney General Ken Paxton barred Barclays from working on municipal bond deals after his office said the bank didn’t respond to requests for information about its carbon emission commitments.

A leading Russian economist has claimed that American sanctions will ultimately undermine the role of the US dollar in the global economy – and help the cross-border adoption of the digital ruble.

Investing.com — It’s set to be an action-packed week in markets with the Federal Reserve’s first meeting of the year, a flurry of big tech earnings and the latest U.S. jobs report. The Bank of England also holds its first policy meeting of 2024 while data out of China is expected to remain gloomy. Here’s what you need to know to start your week.

By Clare Jim

SHANGHAI (Reuters) -China's securities regulator said on Sunday that it will fully suspend the lending of restricted shares effective from Monday, in policymakers' latest attempt to stabilise the country's stock markets following recent sharp falls.

SINGAPORE (Reuters) -Small Chinese investors are scrambling even harder than foreigners to exit the country's crumbling stock markets, sending premiums on global index funds skyrocketing as they search for exposure to anything but the sputtering domestic economy.

By Jamie McGeever

HEFEI, China: Ultramodern factories churn out electric cars and solar panels in Hefei, an industrial center in the heart of central China. Broad avenues link office towers and landscaped parks. Subway lines open at a brisk pace. Yet at Hefei's market for construction materials, local merchants are gloomy. Wu Junlin, a vendor of doors, has closed two of his three stores and laid off all but one of his dozen employees.

By Jarrett Renshaw and Steve Holland

China's industrial firms fell 2.3% in 2023, their second straight yearly decline, due to sluggish demand at home and abroad, adding pressure on economic growth amid a deep property slump and deflationary risks. The drop followed a 4.4% profit fall in the first 11 months from the same period a year earlier, according to data from the National Bureau of Statistics (NBS) on Saturday.

Also Read: Red Sea crisis: UK oil tanker catches fire with 22 Indians onboard after Houthi missile attack; Indian Navy responds Supply concerns are evident in the structure of Brent futures. The premium of the first-month contract to the sixth on both Brent and WTI rose to the highest since November, indicating a perception of tighter prompt supply, according to news agency Reuters.

IT, healthcare, tourism and education have been identified as key fields where India and Kazakhstan can expand partnership, according to Indian Ambassador to Kazakhstan T.V. Nagendra Prasad.

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

Germany’s struggle to revive its sluggish economy is about to take an experimental turn as a host of companies test out the merits of working less. A six-month program starting Feb. 1 will grant a day off every week for hundreds of employees while keeping them on full pay. The study aims to find out if labor unions are right that it could not only leave staff healthier and happier, but also more productive. “I’m absolutely convinced that investments in ‘new work’ pay off because they increase well-being and motivation, subsequently increasing efficiency,” said Sören Fricke, co-founder of event planner Solidsense, one of 45 companies taking part in the pilot. “The four-day week, if it works, won’t cost us anything either in the long run.”

NDTV quoted Murthy as saying. ALSO READ: Bengaluru man shares surprising encounter with Narayana Murthy in economy class: 'The sheer disbelief…' "My children are very curious. They observe and have a lot of questions.

Going into the budget, it is best to stay on the sidelines. We will get some more clarity on February 1, says Ajay Bagga, Chairman, Elyments Platforms. Edited excerpts: If I had to ask you one big theme that you are watching out for or any big announcement, what comes to mind?

monetary policy will continue to be actively disinflationary keeping an eye on global cues & events, being strongly inter-related. Despite the core inflation steadily easing, food inflation remains volatile and broad-based & remains a key concern. A reasonable visibility on the potential attainment of ~4% inflation target and easing in policy rates from the developed markets could pivot the reaction by RBI in favour of a rate cut, possibly in Q2 FY24, we estimate a total of 50bps rate cuts in the next financial year.

BEIJING (Reuters) — China's major southern city of Guangzhou fully relaxed home purchase limits for some people on Saturday and said it would increase affordable housing supply, in a move to support the local property market.

Odisha Chief Minister Naveen Patnaik inaugurated the SAMALEI project in Sambalpur on Saturday. According to the Odisha government, the SAMALEI (Samaleswari Temple Area Management and Local Economic Initiative) Plan is proposed to comprehensively develop the temple precinct to provide a unique experiential experience to visitors and pilgrims by creating an ambiance of spirituality. The project includes peripheral development of the shrine, construction of a heritage corridor, amenities for pilgrims, improved access to the temple, and development of the Mahanadi riverfront. «People of Odisha will always remember those who volunteered to forego their lands for the SAMALEI project. The blessings of Maa Samaleswari always remain with the people of the state,» said Patnaik in Sambalpur. The Chief Minister added that COVID created some problems but the Maa Samalaei Project has been completed in record time. The state government has spent more than Rs 200 crore on this project.

As the debate rages on about how to tackle rapidly rising housing costs, Bank of Canada governor Tiff Macklem says the newly announced cap on international student enrolments should help ease rent price inflation.

Investors are currently enjoying a favourable environment. With high levels of optimism and the economy progressing positively, it’s understandable that investor confidence is on the rise. Yet, reshaping the stock market according to expectations is no simple task.