World economy
US seeks to build an Asia-Pacific rival to RCEP
08 Nov 2019
Two-way trade between the United States and the Indo-Pacific region hit a record $2 trillion, the highest for any region, while cumulative foreign direct investment between the US and the Indo-Pacific stood at $1.6 trillion in 2018, US commerce secretary Wilbur L Ross said
China, US agree on phased tariff cuts in interim trade deal
08 Nov 2019
Under the interim trade deal the US is expected to scrap tariffs scheduled on about $156 billion worth of Chinese imports, including cell phones, laptop computers and toys, while China would buy up to $50 billion of American farm goods
US Fed cuts rates further to 1.5-1.75% to support expansion
31 Oct 2019
FOMC said the move is consistent with its statutory mandate to foster maximum employment and price stability, but signalled its rate-cut cycle might take a pause
Relief for PM Boris Johnson as MPs vote for 12 Dec election
30 Oct 2019
The House of Commons approved the bill by a margin of 430 to 20, paving the way for the general election ahead of the extended Brexit deadline of 31 January
PM Johnson accepts Brexit delay after failed election push
29 Oct 2019
Johnson will respond to the EU’s delay offer once he has reviewed the details, his spokesman said on Monday
Canada’s Justin Trudeau set to remain in power, sans majority
22 Oct 2019
Should Trudeau fail to win a majority in Parliament, he will have to seek support of smaller parties like the Green Party and the New Democratic Party, led by Jagmeet Singh
EU, Britain finalise new Brexit deal; over to parliament now
18 Oct 2019
Prime Minister Boris Johnson is taking the accord to parliament on Saturday, where skeptical parliamentarians and opposition from the Irish Democratic Unionist Party could still stall Brexit
Britain, European Union reach new Brexit deal
17 Oct 2019
The deal still needs to finetune customs and sales tax regulations to manage trade in goods between Northern Ireland and Ireland while Prime Minister Johnson also needs to push any deal past a deeply divided Parliament after it rejected a previous deal three times
Abhijit Banerjee, Esther Duflo and Michael Kremer share Economics Nobel
14 Oct 2019
The Laureates’ research findings – and those of the researchers following in their footsteps – have dramatically improved our ability to fight poverty in practice, the according to the Nobel Prize Committee
Britain threatens EU with a “nasty” exit
09 Oct 2019
US extends tariff war with EU to planes, cheese and whisky
04 Oct 2019
The United States on Wednesday said it would slap 10 per cent tariff on European-made Airbus aircraft and 25 per cent duties on French wine, Scotch and Irish whiskies, and cheese from across the continent after the World Trade Organisation gave Washington a green light to impose tariffs on $7.5 billion worth of EU goods annually in a long-running case
India-US trade deal has to evolve: Piyush Goyal
03 Oct 2019
While both countries do not see any structural issues, there are conflicting interests of bringing down trade deficits and protectionist trade policies that hamper a trade deal
Former French president Jacques Chirac dies at 86
27 Sep 2019
Chirac, like Charles de Gaulle, ably presided over a state in which power was divided between the left and the right even as he championed the cause of a stronger European Union
US Fed cuts interest rate for second time in a row
20 Sep 2019
The US central bank is reported to have injected a total of $203 billion into markets - $75 billion each on Wednesday and Thursday, and $53 billion on Tuesday
ECB cuts rates by 10 bps; announces new stimulus plan
13 Sep 2019
The ECB’s announcement pushed the euro down sharply against the dollar, with the European common currency hitting its lowest level in more than two years, before recovering all losses as market started doubting the central bank’s new bond-buying plan
China, US relent on tariff plans to ease trade tensions
13 Sep 2019
While China announced tariff exemption for 16 US products and US delayed a planned tariff hike on $250 billion worth of Chinese goods, there are still many uncertainties in the coming trade talks, including Beijing’s reluctance to change laws to address US complaints
New US Supreme Court ruling allows Trump to block asylum to many
12 Sep 2019
The Trump administration issued the rule in an attempt to block hoards of immigrants from countries like El Salvador, Honduras and Guatemala from entering the United States as asylum seekers after crossing through Mexico, while keeping asylum protection for Mexican citizens
British PM Johnson sticks to no-deal Brexit
10 Sep 2019
Johnson decided to overlook a legislation passed by parliament demanding that he delay Brexit unless he strikes a new agreement and insisted that Brexit would happen by that date, "no ifs and buts"
UK PM Boris Johnson loses majority as MP defects to defeat no-deal Brexit
04 Sep 2019
EU leaders have refused to reopen the current Brexit deal or abandon it, but Johnson insists that a credible threat to walk away from the European Union will help secure a new deal