Asia Markets Join Global Stock Plunge
Asian markets plunged on Tuesday as investors dumped stocks following heavy falls in the US in anticipation of higher interest rates. Japan’s Nikkei 225 index suffered its biggest one-day point...
Tag: Great Recession
South Korea Tips Fastest Growth In Three Years In 2017
South Korea said Tuesday its economy is set to grow at its fastest rate in three years in 2017, on the back of strong exports and a $10 billion stimulus package aimed at creating jobs and bolstering...
US New Home Construction Jumps In June
Construction of new US homes rebounded in June to its highest level in four months, a sign that homebuilders may finally be responding to soaring demand, official figures showed Wednesday. The June...
China’s Economy Posts Steady Growth But Risks Remain
China posted better-than-expected growth in the second quarter, official data showed on Monday, but authorities warned that the world's second largest economy faces external and internal risks. The...
China’s Economy Slows In Second Quarter
China's economy lost momentum in the second quarter, a survey shows, as Beijing's efforts to curb risky lending and investment took a toll on the Asian powerhouse. The world's second-largest economy...
Big Investor Payouts Seen At US Banking Giants
As they await this week's stress test results, US banks face a dilemma their European counterparts can only dream of: what to do with a pile of excess cash? The answer is expected to become clearer...
IMF Cuts US Growth Outlook Amid Absent Policies
The lack of details on President Donald Trump's plans to reform the US economy prompted the International Monetary Fund on Tuesday to cut its growth forecast for this year and next. The IMF in...
Major US Banks Would Withstand Recession
The largest US banks would withstand a severe recession and still be able to lend to American households and businesses, the Federal Reserve announced Thursday. The results of the first part of the...
US Existing Home Sales Rebound In May As Prices Rise
Sales of existing homes rebounded in May after April's surprise dip, and prices edged higher, according to industry figures released Wednesday. The National Association of Realtors said strong demand...
Government’s Decision To Retire Legacy Debts Will Boost Banking Industry – Bankers
The Chartered Institute of Bankers (CIB) says the decision by the government to issue new bonds to pay off legacy debts will bring significant relief to the banking industry. Its Chief Executive,...
New Rate Hike Likely Appropriate ‘soon’
US central bankers say the time will "soon" be right to once more raise the key lending rate, according to the minutes of the last Federal Reserve meeting released Wednesday. Monetary policymakers...
US Household Debt Surpasses 2008 Levels
Household debt has surpassed a peak set during the 2008 financial crisis, marking a long, gradual recovering in borrowing by American consumers, the New York Federal Reserve Bank reported Wednesday....
Unemployment Rate Drops To Lowest Number In A Decade
Job creation in the world's largest economy rebounded strongly in April, pushing the unemployment rate to its lowest level in 10 years, the US Labor Department reported Friday. After a slow March,...
US Unemployment Falls To 10-Year Low In April
The unemployment rate in the world's largest economy fell to the lowest level in 10 years due to a strong rebound in job creation in April, the US Labor Department reported Friday. After a slow...
US Unemployment Falls To 10-Year Low In April
Job creation in the world's largest economy rebounded strongly in April, pushing the unemployment rate to its lowest level in 10 years, the US Labor Department reported Friday. After a slow March,...
BoG Moves To the Rescue of Banks
All banks in the country have been directed by the Bank of Ghana (BoG) to strictly comply with recommendations from a recent Asset Quality Review (AQR) exercise conducted by the Bank. The findings...
China Targets Debt Risks, But Does It Mean Business?
China has launched perhaps its most concerted push yet to clean up a toxic brew of unregulated and risky lending increasingly viewed as a threat to global financial stability, but do authorities...
Mallya’s $1bn Debt Is the ‘tip of the Iceberg’ of India’s Unpaid Loans
The recent arrest of Vijay Mallya highlighted the problem of bad loans in India, but analysts say the tycoon's unpaid debts are just the tip of an iceberg that is already holding back the country's...
How Bad Corporate Debts Are Holding Back India’s Growth
The recent arrest of Vijay Mallya highlighted the problem of bad loans in India, but analysts say the tycoon's unpaid debts are just the tip of an iceberg that is already holding back the country's...
IMF Warns Against Protectionism, But Strikes Word From Statement
With fears rising that the Trump administration will follow through on its threats to raise trade barriers, world finance ministers are united on one message: protectionism threatens the global...