Sewing machines have been humming non-stop in the production workshops of Qicaihu Swimwear Group in Jinjiang City, Fujian Province. Inside the workshops, workers have been moving full speed ahead to process orders for shipping to Europe and America. “Three days into the Chinese New Year, our staff...
https://www.hellenicshippingnews.com/chinas-economy-in-2024-pleasing-outcomes-among-uncertainties/
The administration of U.S. President Joe Biden on Tuesday unveiled a rule extending mandatory overtime pay to an estimated 4 million salaried workers, going even further than an Obama-era rule that was struck down in court. The U.S. Department of Labor rule will require employers to pay overtime...
https://www.hellenicshippingnews.com/biden-rule-grants-overtime-pay-to-4-million-us-workers/
Turkey’s central bank will not trim its policy rate from the current 50% until the fourth quarter, a Reuters poll of economists showed. It raised the rate by 500 basis points in March, following a February pause in its aggressive tightening cycle, citing a deterioration in the inflation outlook....
https://www.hellenicshippingnews.com/turkey-central-bank-to-leave-rates-unchanged-until-q4/
German business morale improved more than expected in April, a survey showed on Wednesday, boosting hopes that the worst may be over for Europe’s biggest economy although any recovery is not expected to be strong. The Ifo institute said its business climate index rose to 89.4 compared with a...
The German debt-to-GDP ratio is likely to rise slightly this year but then fall steadily until 2028, the finance ministry said on Wednesday. The ministry expects the debt-to-GDP ratio at 64% in 2024, according to projections for the EU Commission, which were approved by the cabinet on Wednesday. In...
Cut in June or not at all? The Bank of England is left parsing policy between a European Central Bank nailed on for cutting rates by mid-year and a U.S. Federal Reserve some feel may not beready to ease at all in 2024. Not for the first time, the BoE finds itself somewhere in the …
https://www.hellenicshippingnews.com/boe-tries-to-sail-a-mid-ocean-policy/
The German government on Wednesday raised its economic growth forecast for this year to 0.3%, from 0.2% previously, and lowered its forecast for inflation by 0.4 percentage points. The forecasts are part of the government’s spring projections, which Economy Minister Robert Habeck presented on...
https://www.hellenicshippingnews.com/german-government-nudges-up-2024-gdp-forecast-to-0-3/
New orders for key U.S.-manufactured capital goods rose moderately in March and data for the prior month was revised lower, suggesting business spending on equipment was likely sluggish in the first quarter. Non-defense capital goods orders excluding aircraft, a closely watched proxy for business...
https://www.hellenicshippingnews.com/us-core-capital-goods-orders-rise-moderately-in-march/
China urged the European Union to abide by its commitment to opening markets and fair competition, as well as to comply with World Trade Organisation rules, its foreign ministry said in response to EU’s actions against Chinese businesses. Responding to a question about the EU’s probe into Chinese...
https://www.hellenicshippingnews.com/china-urges-eu-to-stop-excuses-to-restrict-chinese-firms/
The biggest economic challenge for the government after the ongoing election is unemployment, according to economists polled by Reuters who expected the world’s most populous country to grow a healthy 6.5% this fiscal year. Despite growing at the fastest pace among major peers, the economy has...