Economy News

Economy

June Sees a Sharp 9.3% Drop in US Durable Goods Orders, Missing Expectations

The US durable goods orders experienced a 9.3% decline in June, missing expectations, with transportation equipment leading the downturn. However, shipments and unfilled orders sho...

Economy

In a Bold Move, Russia's Central Bank Slashes Interest Rates by 200 Basis Points to 18% Amid Economic Strategy

The Central Bank of Russia has announced a 200 basis points cut in the key interest rate to 18%, aiming to control inflation and maintain tight monetary policy until 2026.

Economy

President Xi Jinping Vows China's Unwavering Commitment to Global Market Expansion and Economic Growth

Chinese President Xi Jinping reaffirms China's commitment to global market expansion and economic growth, emphasizing national rejuvenation through modernization and the importance...

Economy

OMB Director Vought Clarifies: Federal Reserve Review Aims Beyond Powell's Position

OMB Director Russell Vought reassures that the Federal Reserve's review isn't about firing Chair Jerome Powell, while urging for lower interest rates, following President Trump's v...

Economy

Korea and U.S. Strengthen Ties: Ministers Pledge to Finalize Tariff Deal by August 1

South Korea and the U.S. reaffirm their commitment to finalizing a tariff deal by August 1, focusing on manufacturing cooperation and strategic sectors like semiconductors and batt...

Economy

U.S. Cancels Key 2+2 Talks with Korea, Points to Bessent's Stockholm Visit Amid Rising Tensions

The U.S. unexpectedly cancels '2+2' trade and finance talks with South Korea, directing attention to Treasury Secretary Scott Bessent's Stockholm visit, amidst uncertainty and risi...

Economy

Strategic Dinner Between South Korea's President and Samsung Chairman to Tackle Trade Challenges

President Lee Jae-myung's private dinner with Samsung's Lee Jae-yong underscores efforts to navigate US-South Korea trade tensions, with potential implications for Samsung's US inv...

Economy

Germany's Business Climate Shows Signs of Recovery in July, Ifo Reports

Germany's business climate improved slightly in July, with the Ifo headline index rising to 88.6 from 88.4 in June. Despite this, the economic recovery is described as anemic, with...