October 5, 2024
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Asia Pacific

Japan’s Corporate Service Prices Surge, Signaling Potential Economic Shift

In April, Japan saw its corporate service prices climb at their fastest annual rate since March 2015, driven by rising labor costs in the services sector. This data, released by the Bank of Japan (BOJ) on Tuesday, suggests a positive outlook for policymakers aiming for a wage-led cycle of demand growth. The Corporate Services Price

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Middle East

Israeli-Turkish Trade Faces Uncertainty Amid Gaza Conflict

Israeli-Turkish trade, which has historically endured various diplomatic disputes, is now at risk due to the ongoing conflict in Gaza. This month, Turkey halted all bilateral trade with Israel until the conflict ends and humanitarian aid can enter Gaza unhindered. Israel contends that Turkey’s decision breaches World Trade Organization rules. Israeli importers are urgently seeking

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India

India’s Adani Enterprises to Raise Up to $2 Billion

Adani Enterprises Ltd. (ADEL.NS), the flagship company of India’s Adani Group, announced on Tuesday that its board has approved a plan to raise up to 166 billion rupees ($2 billion). This capital will be raised through the issuance of shares or other securities via qualified institutional placements or any other permissible method, as per an

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Commodities

Post-COVID, China Doubles Down on African Mineral Investments

China’s flagship economic cooperation program is resurging after the pandemic, with a significant focus on Africa. According to a Reuters analysis of lending, investment, and trade data, China is reaffirming its commitment to African modernization and mutual cooperation through substantial financial commitments and record trade figures. However, the relationship remains primarily extractive, not fully aligning

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United States

Fed’s Mester Advocates for More Detailed Policy Statements

Federal Reserve policy statements would be more effective if they included more detailed passages explaining the central bank’s economic assessments, the factors influencing its outlook, and the associated risks, said Cleveland Fed President Loretta Mester on Tuesday. “While simplicity is often considered a virtue, it can be detrimental in policymaking, which must navigate an uncertain

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United Kingdom

UK Retail Price Inflation Returns to Normal Levels, Say Retailers

In a positive development for the British economy, shop prices in the UK increased at their slowest rate in two and a half years this month. According to the British Retail Consortium (BRC), annual shop price inflation eased to 0.6% in May, down from 0.8% in April, marking the smallest increase since November 2021. This

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United States

Fed’s Bowman Advocates for Cautious Approach to Balance Sheet Tapering

Federal Reserve Governor Michelle Bowman expressed her preference for a more measured approach to tapering the U.S. central bank’s balance sheet run-off during a speech at a Bank of Japan conference in Tokyo on Tuesday. Bowman indicated that she would have supported either delaying the start of the tapering process or implementing a more moderate

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Europe

Eurozone Consumers Lower Inflation Expectations, ECB Survey Reveals

Eurozone consumers have adjusted their inflation expectations downward, according to a recent European Central Bank (ECB) survey released on Tuesday. This shift comes as the ECB prepares to unwind a historic series of interest rate hikes. The survey indicates that consumers expect inflation over the next 12 months to decrease to 2.9%, down from 3.0%

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United States

TSX Futures Rise Amid Higher Commodity Prices; Inflation Data in Focus

Futures for Canada’s main stock index advanced on Monday, buoyed by a rise in commodity prices, as investors awaited key inflation data from both the U.S. and Canada to gain insights into the potential timing of interest rate cuts. Market Overview As of 6:41 a.m. ET (10:41 GMT), June futures on the S&P/TSX index were

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Europe United States

Global Shares Edge Up as US and EU Inflation Data Awaited

Global shares gained momentum on Monday as investors prepared for a significant week of inflation data releases, which could potentially pave the way for a European rate cut as early as next week and a U.S. policy easing in the coming months. Market Dynamics and Economic Indicators Holidays in Britain and the United States led

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