The number of Americans filing new claims for unemployment benefits increased to the highest level in nearly five months last week, but that likely does not mark a material shift in labor market conditions, which remain very tight. The report from the Labor Department on Thursday also showed...
President Vladimir Putin said on Thursday that no Iron Curtain would fall over the Russian economy despite the sanctions imposed by the West because Moscow would not close itself off from the world like the Soviet Union did. The sanctions imposed on the West over Russia’s invasion of Ukraine have...
https://www.hellenicshippingnews.com/putin-says-no-iron-curtain-will-close-off-russias-economy/
China’s new yuan loans likely rebounded sharply in May after a drop in April, a Reuters poll showed, as the central bank ratchets up policy support for the slowing economy. Chinese banks are estimated to have issued 1.3 trillion yuan ($194.71 billion) in net new yuan loans last month, doubling the...
The Reserve Bank of India’s key interest rate was raised by 50 basis points on Wednesday as widely expected, in the second hike in as many months, in a bid to cool persistently high inflation. The monetary policy committee (MPC) raised the key lending rate or the repo rate INREPO=ECI by 50 basis...
Money markets ramped up their bets on European Central Bank (ECB) interest rate rises on Wednesday to price in 75 basis points (bps) of hikes by September. With the bank largely expected to start rises in July and move in 25-bp increments, the pricing implies traders now expect its hikes to include...
https://www.hellenicshippingnews.com/traders-price-in-75-bps-of-ecb-rate-hikes-by-september/
U.S. wholesale inventories increased slightly more than initially thought in April, suggesting that inventory investment could provide a lift to economic growth this quarter. The rise in stocks reported by the Commerce Department on Wednesday, however, came as sales growth moderated. Inventories...
https://www.hellenicshippingnews.com/u-s-wholesale-inventories-increase-strongly-sales-growth-slows/
As swift and strong actions reined in epidemic flare-ups, China’s economic engine started rumbling again. The latest commodity index revealed improvements in both factory production and market demand, indicating that with timely and targeted policy support, the country’s economic activities, gradually shaking off COVID-19 impacts, are poised for a steady recovery. The China Bulk Merchandise …
The post Rebounding commodity index mirrors a warming Chinese economy first appeared on Hellenic...
https://www.hellenicshippingnews.com/rebounding-commodity-index-mirrors-a-warming-chinese-economy/
Chinese economic activity, which has been weighed down by multiple factors, including the resurgence of COVID-19 cases, is likely to pick up this year. The Asian giant, the second-largest economy in the world, has set a growth target of 5.5 percent for 2022, which has been met with some skepticism...
https://www.hellenicshippingnews.com/chinas-economy-likely-to-pick-up-this-year-j-p-morgan/
China’s sputtering economy has a lot riding on its consumers, who are just now emerging from lockdowns in Shanghai and other big cities. But those hopes are running up against the likes of Wu Lei, a soccer coach in Beijing who has put off buying a new mobile phone. “I’ve lost the lion’s share of …
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Finance minister Nirmala Sitharaman on Monday said that the country’s growth will be driven by fiscal spending. Participating virtually in the second BRICS Finance Ministers and Central Bank Governors (FMCBG) meeting under the China chairmanship, Sitharaman said BRICS should continue to serve as a platform to engage in dialogues and facilitate exchange of experiences, concerns …
The post India’s economic growth to be supported by fiscal spending: FM Sitharaman first appeared on Hellenic Shipping...