DUBAI, United Arab Emirates — China is facing a confidence deficit as its economy undergoes massive transition and concern grows over its ongoing property crisis, a top banking CEO said while onstage at Dubai's World Governments Summit."China's biggest problem to me is a lack of confidence. External investors lack...
Kristalina Georgieva, managing director of the International Monetary Fund, at a press conference at the IMF Headquarters on April 14, 2023.Kevin Dietsch | Getty Images News | Getty ImagesThe head of the International Monetary Fund warned the Russian economy is still facing significant headwinds despite receiving a recent growth...
Federal Chancellor Olaf Scholz (SPD, r-l), Robert Habeck (Alliance 90/The Greens), Federal Minister for Economic Affairs and Climate Protection, and Christian Lindner (FDP), Federal Minister of Finance, follow the debate at the start of the budget week.Michael Kappeler | Picture Alliance | Getty ImagesGood news has been sparse for...
The prices consumers pay in the marketplace rose at an even slower pace than originally reported, according to closely watched revisions the government released Friday.Revisions to the consumer price index showed that the broad basket of goods and services measured increased 0.2% on the month, less than the originally...
Many Chinese developers have halted or delayed construction on presold homes due to cash flow problems. Pictured here is a property construction site in Jiangsu province, China, on Oct. 17, 2022.Future Publishing | Future Publishing | Getty ImagesChina's economy is sputtering.Its property market is crumbling, deflationary pressures are spreading...
A mosaic collection of world currencies.FrankvandenBergh | E+ | Getty ImagesThe world is looking at a debt crisis that will span the next 10 years and it's not going to end well, economist Arthur Laffer has warned, with global borrowings hitting a record of $307.4 trillion last September. Both high-income...
Epoxydude | Fstop | Getty ImagesCredit card delinquencies surged more than 50% in 2023 as total consumer debt swelled to $17.5 trillion, the New York Federal Reserve reported Tuesday.Debt that has transitioned into "serious delinquency," or 90 days or more past due, increased across multiple categories during the year,...
Newly appointed Governor of Turkish Central Bank, Fatih Karahan is seen in Ankara, Turkey on February 04, 2024. Emin Sansar | Anadolu | Getty ImagesTurkey's newly appointed central bank governor Fatih Karahan has his work cut out for him, named to the job by presidential decree over the weekend after...
Elevated shipping costs as a result of ongoing tensions in the Red Sea could impede the global fight against inflation, the Organisation for Economic Co-operation and Development said Monday.The Paris-based group estimates that the recent 100% rise in seaborne freight rates could increase import price inflation across its 38...
President of Turkey Recep Erdogan addresses journalists during the final national press conference during the high level NATO summit in Litexpo Conference Centre in Vilnius, Lithuania on July 12, 2023.Dominika Zarzycka | Nurphoto | Getty ImagesIn January, Turkish inflation logged its biggest monthly jump since August with a 6.7%...