A picture taken on August 14, 2018 shows the logo of Turkey’s Central Bank at the entrance of its headquarters in Ankara, Turkey. ADEM ALTAN | AFP | Getty Images Turkey’s central bank on Thursday raised its key interest rate, the one-week repo rate, from 45% to 50%, citing the continuing need to counter climbing … Read more
The Swiss national flag hangs from the Federal Palace, Switzerland’s parliament building, in Bern, Switzerland, on Thursday, Dec. 13, 2018. The Swiss National Bank cut its inflation forecast and showed no inclination of moving off its crisis-era settings, citing the francs strength and mounting global risks. Photographer: Stefan Wermuth/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty … Read more
People browsing gold jewelry in Istanbul. Burak Kara | Getty Images News | Getty Images Gold prices still have room to rise after hitting all-time highs early this month, as several central banks continue to purchase bullion in record amounts. These purchases have strengthened gold prices despite high interest rates and a strong dollar, market … Read more
Plane contrails streak across the sky over Regent Street on February 15, 2024 in London, England. Dan Kitwood | Getty Images U.K. inflation came in lower than expected at 3.4% year-on-year in February, official figures showed Wednesday, down from 4% in January. Month-on-month, the headline consumer price index rose by 0.6%, returning to positive territory … Read more
Federal Reserve Bank Chairman Jerome Powell testifies before the House Financial Services Committee in the Rayburn House Office Building on Capitol Hill on March 06, 2024 in Washington, DC. Chip Somodevilla | Getty Images The Federal Reserve has a lot to do at its meeting this week, but ultimately may not end up doing a … Read more
March and April are critical months for ocean carriers looking to ink annual freight contracts with shippers, including the world’s biggest retailers, but this year contract season is turning into a waiting game. The $2,500 spread between spot market rates and long-term freight contract rates for Asia to U.S. West Coast containers has reached its … Read more
An eagle tops the U.S. Federal Reserve building’s facade in Washington, July 31, 2013. REUTERS/Jonathan Ernst/ Jonathan Ernst | Reuters The Federal Reserve and the European Central Bank look poised to make “major progress” in cutting interest rates this year, according to the central bank of central banks. Agustín Carstens, general manager of the Bank … Read more
Boeing 787 Dreamliner Saudi Arabian. Aircraft to Fiumicino Leonardo da Vinci Airport. Fiumicino (Italia), Nov. 11, 2021 Massimo Insabato/Archivio Massimo Insabato/Mondadori Portfolio via Getty Images Saudi Arabia’s behemoth sovereign wealth fund is in talks to buy the kingdom’s national airline Saudia, Bloomberg reported over the weekend, citing people familiar with the matter. The reported move … Read more
HONG KONG — China’s manufacturing and investment improved in the first two months of the year, while weakness in the property sector weighed on the economy, the National Bureau of Statistics said Monday. The report said industrial output rose 7% from a year earlier in January-February, better than analysts had forecast. Spending on factories and … Read more
Traders work on the floor of the New York Stock Exchange (NYSE) in New York. Bloomberg | Bloomberg | Getty Images Four of investors’ top five favorite destinations are in Europe, according to the Milken Institute’s Global Opportunity Index (GOI) report. Denmark topped this year’s rankings, scoring first on business perception, a measure of the … Read more