The Star Bulletin - Daily News Updates

The US cannot help Beijing to stabilize its economy

NewsBeijing, china, economy, news, US

The US cannot help Beijing to stabilize its economy. The day following Beijing stopped its COVID-free policy. Then, immediately after an interaction with the leaders of both the World Bank and the International Monetary Fund, Li Keqiang, a top official from China's Chinese Communist Party, told reporters that China would welcome foreign investment and encourage an opening of the institution. This message was repeated in the words of Chinese Embassy to United States Qin Gang in an article entitled "How China Sees the World," published in the National Interest on Dec. 27. Qin stated to readers "China's development means a…

Jan

06

2023

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The US Could Help Solve its poverty problem with a Universal Basic Income

Newseconomy, news, Universal Basic Income, US

The US Could Help Solve its poverty problem with a Universal Basic Income. Universal basic income would not cause adults to quit their jobs, and it could help lift millions of kids into better futures. The tax credits for children, initially created at the end of 1997 was extended to a full year in 2021 this was a significant social and political win for the nation. In a time where the epidemic was causing the financial burden of many families as well, the Biden administration's move not only made it easier to claim the tax credit, but also converted the…

Jan

05

2023

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US STOCK-FUTURES muted as Fed minutes signal tightening in the coming months

Newseconomy, news, Stocks, US

US STOCK-FUTURES muted as Fed minutes signal tightening in the coming months. U.S. stock index futures were a bit sluggish on Thursday following the minutes of the December meeting of the Federal Reserve revealed the central bank's dedication to control inflation. Now, the focus is shifting to employment figures to get more information on the direction of rate hikes. The main indexes of Wall Street have erased some gains on Wednesday following a meeting minutes revealed the Fed was focused on tackling inflation, even as officials voted to slow down the rate hike rate to minimize risk in economic development.…

Jan

05

2023

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By Kevin Bonner

In Cuba Renewed US Services for Would-Be Migrants

NewsCuba, economy, Migrants, US

In Cuba Renewed US Services for Would-Be Migrants. There are now more Cubans in custody at the border with the Southern U.S. border is now equal to that of Mexicans. This is our Morning Brief, where we're reviewing the reopening of the U.S. embassy in Cuba and the possibility of a Russian blame-game, as well as an abandoned cessez-fire agreement in Colombia. U.S. Embassy in Cuba Reopens for Visa Services The United States reopened its embassy in Havana with the intention of resuming all visa procedures. Consular services are now open too. This marks the first time visa services have…

Jan

04

2023

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By Patsy S. Nielsen

European assets are rising as investors watch US economic data

Newseconomy, European, investors, news, US

European assets are rising as investors watch US economic data. Manufacturing and jobs numbers will be scrutinized for indications that the Federal Reserve's campaign to combat inflation is producing results. European shares continued to climb on Wednesday, while bonds across the region rose in the wake of investors getting over the problems of some of the nation's largest firms to concentrate on the latest indicators of a slowing in inflation. In the region, Stoxx Europe 600 added 1 percent in trading early which brought the gains to 3 percent, and London's FTSE 100 climbing 0.3 percent as well as France's…

Jan

04

2023

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France Prepares Green Industry Bill Echoing US Climate Law

Newseconomy, France, Green Industry, inflation, news, US

France Prepares Green Industry Bill Echoing US Climate Law. French Finance Minister Bruno Le Maire said he will be presenting the "green industry" bill soon in the event that Europe wants to stop companies getting lured across the Atlantic by billions of dollars in subsidies in the United States' climate legislation. The new law in France will bring changes to taxation and regulation in order to facilitate the creation of low-carbon production, said Le Maire. about France. It will result in an incredibly eco-friendly industry in French soil by utilizing the production of hydrogen, electric batteries and nuclear energy, as…

Jan

02

2023

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By Patsy S. Nielsen

Foreign Exchange Dollar rises in a tepid start to the new year

Newsdollar, economy, Foreign Exchange, news

Foreign Exchange Dollar rises in a tepid start to the new year. The euro-area economy is preparing for a recession, fears regarding the supply of gas during winter are lessened, which means the recession might not be as dire as was thought ago. Eurozone wages are increasing faster than anticipated as well. The European Central Bank (ECB) should ensure that this doesn't add to the already high rate of inflation ECB Chief Christine Lagarde declared this weekend. The dollar climbed on Monday, but it was able to pull away from its recent lows of just six months against a range…

Jan

02

2023

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A third of the world’s economy is predicted to fall into recession by 2023, as per IMF Chief

Newscovid, economy, IMF

A third of the world's economy is predicted to fall into recession by 2023, as per IMF Chief. This year will be more difficult for our global economic system than the one we left behind, according to the IMF's (IMF) director Kristalina Georgieva has warned. "Why? because the three major economies, US, EU, China are all slowing simultaneously," she said in an interview which was broadcast in the Sunday edition of CBS Sunday. "We expect one third of the world economy to be in recession," she added, noting that even for those countries that aren't currently in recession "It would…

Jan

02

2023

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European markets kick off the New Year on a high note

Newschina, covid, economy, European, IMF, news

European markets kick off the New Year on a high note. European market prices started this New Year on a high note on Monday (2 January) after a turbulent 2022, which saw International Monetary Fund (IMF) chief Kristalina Georgieva warning that three-quarters of the global economy is in danger of recession by 2023. The Paris CAC 40 climbed over 1% as did the Frankfurt DAX increased by 0.7 percent. However, London, Wall Street and oil markets were shut to celebrate the holidays. The majority of Asian stock markets were closed. The ones that did open, Jakarta was flat while Seoul…

Jan

01

2023

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S.Korea will invest $5.3 billion in science research and development by 2023

News#technology, economy, infrastructure, Investment, news, S.Korea

S.Korea will invest $5.3 billion in science research and development by 2023. Seoul: South Korea will invest 6.7 trillion won ($5.3 billion) in research and development in 2023, as the nation is seeking to secure the most important emerging technologies to create growth engines for the future in the field of science, the ministry of science announced on Sunday. The Ministry of Science and ICT announced that the budgeted amount was the equivalent of a 3.9 percent increase over 2021. Of the total, around 3.4 trillion won were put aside for crucial new technologies in the future, like artificial intelligence…

Jan

01

2023

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China will boost spending during the 2023 Economic revival push: NDRC

Newschina, COVID-19, economy, global economy

China will boost spending during the 2023 Economic revival push: NDRC The top planner for China's economy is hoping to increase domestic consumption and draw more foreign investors in the coming year, as it tries to revitalize the economy of Covid, which has suffered in recent years.. In an interview in the People's Daily published on Sunday, Zhao Chenxin, deputy chairman of the National Development and Reform Commission stated that the authorities will align financial, industrial, monetary, technological and social policies to encourage growth. The government could also offer assistance for previously heavily regulated industries like the property and internet-related…

Jan

01

2023

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By Kevin Bonner

The U.S. Economy In 2023: Walking The Tightrope To Avoid Stagflation

Newschina, economy, inflation, US

The U.S. Economy In 2023: Walking The Tightrope To Avoid Stagflation. In the past, two years back I titled my annual forecast of economic conditions "We Are All Super-Keynesians Now." The previous year, it was "All Eyes On Inflation." This year's main focus is on the costs of adjustment of decreasing the rate of inflation. The order of titles is based on economic logic and philosophies in that the government spends too much, is able to pay for its expenditure through printing money or debt monetization, prices increase and in the event that you do not want to become like…

Dec

31

2022

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Consumer Confidence Index Reaches Highest Level Since April

NewsConsumer Confidence Index, economy, news, unemployment

Consumer Confidence Index Reaches Highest Level Since April. You're sick of hearing warning after warning of the possibility of a recession, which is normal. Experts have been warning for months regarding an economic slowdown. So it's tough to be happy regarding the economy given all of this. However, new data suggests that people are optimistic regarding the current economic situation. In fact the Conference Board's monthly consumer confidence index was at 108.3 in December, that's a big increase of 101.4 in November. This is also the highest reading since the month of April. Consumers are feeling more comfortable overall It's…

Dec

30

2022

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Treasury yields increase as investors prepare for 2023

News#business, economy, Investment, news, US

Treasury yields increase as investors prepare for 2023. Treasury yields increased on Friday as traders looked forward to 2023 and weighed the headwinds that markets could encounter in the coming year. Ten-year Treasury yields the highest. Treasury The note was trading up nearly two basis points, to 3.8520 percent at 4:52 a.m. ET. The 2-year Treasury. Sintex Plastics Technology Ltd leads as the biggest loser in the B group The yield climbed over 3 basis points, and was last traded at 4.4009 percent. Prices and yields have an inverse relationship. One basis point equals 0.01%. As the calendar year is…

Dec

27

2022

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Banks have been asked to reduce rates to help boost economic growth

Newsbank, economy, news, vietnam

Banks have been asked to reduce rates to help boost economic growth. According to a document released recently banks are ordered to reduce operating expenses and unneeded expenses, in addition to administrative procedures, in order to allow for lending interest rates to aid the recovery of the economy and the growth. Banks have also been directed to continue to promote the government's interest rate support program for loans to cooperatives, businesses, and households in accordance with the Decree 31/2022/NDCP issued by the Government on May 20 20, 2022. "The SBV will monitor banks, which continue to raise interest rates, and…

Dec

27

2022

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Irish tourism back to 70pc pre-pandemic levels but sector group warns of ‘economic headwinds’

Newseconomy, Irish, ITIC, news, tourism

Irish tourism back to 70pc pre-pandemic levels but sector group warns of 'economic headwinds' The Irish tourism industry saw an increase in tourism following the removal of the majority of restrictions on Covid-19 earlier in the year. There were seven million international visitors visiting Ireland by 2022. The Irish Tourism Industry Confederation (ITIC) has released its final of the year numbers which revealed that the sector experienced a 73 percent growth in its revenue compared to pre-pandemic peak of the year. Of the seven million people who traveled during the year ITIC calculated that 2.6 million were directly from Mainland…

Dec

26

2022

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By Kevin Bonner

How much higher did US inflation rise this year? Where will it be in 2023?

Newscovid, economy, inflation, news, US

How much higher did US inflation rise this year? Where will it be in 2023? A few years ago inflation was seen as something the US and a lot of other western economies could not handle. "Is inflation dead?" Businessweek asked in the year 2019, with an image of an ailing dinosaur. Then came Covid-19. Supply chain problems, illness, deaths, and the conflict in Ukraine caused a disruption to trade across the globe. Aided by government grants and savings, consumers rebounded from the panic-inducing shutdowns but a limited stock of anything from second-hand vehicles to housing, which was triggering the…

Dec

24

2022

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Brexit has shattered Britain’s economic foundations

Newseconomy, export, inflation, london school of economics, news, uk

Brexit has shattered Britain's economic foundations Two years have passed since the former prime minister Boris Johnson signed his Brexit trade deal , and proclaimed that Britain will become "prosperous, dynamic and contented" when it had completed its exit out of European Union. The Brexit deal will allow UK businesses to "do even more business" with the European Union, according to Johnson and will let Britain free to negotiate trade agreements around the globe while continuing to seamlessly export into the EU market with 450 million customers. In the end, Brexit has hobbled the UK economy, but it's as the…

Dec

22

2022

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By Patsy S. Nielsen

Large European Banks Well-Positioned to Weather Economic Slowdown

Newseconomy, European Banks, inflation

Large European Banks Well-Positioned to Weather Economic Slowdown Fitch Ratings-London-22 Dec 2022: The majority of large European banks are in a good position to weather the slowdown in economic growth in 2023, and the impact it will have on the quality of their assets, Fitch Ratings says. We anticipate only a minor decrease in their impaired loan ratios in 2023 because significant proportions of their loans are residential mortgage loans , which have proven to be resilient over the course of time in many countries, and underwriting standards are being tightened in the wake of previous crises. Biden is playing…

Dec

22

2022

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