Year: 2024

HONG KONG (Reuters) – China’s Country Garden (HK:2007) submitted preliminary terms for an offshore debt restructuring plan to some creditors late last month, alongside a downward revision of its cash flow projections, according to sources. The struggling property developer aims to avoid liquidation through this process. The updated cash flow…

U.S. President-elect Donald Trump’s proposed tariffs could disrupt international trade but are likely to have only a “minor impact” on inflation, according to European Central Bank policymaker Joachim Nagel.   Trump emphasized tariffs as a core part of his campaign, raising concerns among analysts about a potential repeat of the 2018-2019…

New Delhi, Nov 18 (IANS): Developing countries face heightened vulnerability to antimicrobial resistance (AMR), a critical global health issue undermining the effectiveness of life-saving medicines and the management of infectious diseases, stated Saima Wazed, WHO Regional Director for South-East Asia, on Monday.   Marking World Antimicrobial Awareness Week (WAAW), observed annually…

Americans are set to break records for Thanksgiving travel, with nearly 80 million expected to hit the roads, take flights, and board cruises during the holiday period, according to the travel group AAA.   This year’s travel numbers, spanning Tuesday, Nov. 26, to Monday, Dec. 2, represent an increase of about…

U.S. stock index futures declined on Friday after Federal Reserve Chair Jerome Powell stated there was no urgency to reduce interest rates, driving up bond yields and putting pressure on rate-sensitive stocks. In a Thursday speech, Powell highlighted steady economic growth, a strong labor market, and inflation above the Fed’s…

Nigeria’s inflation rate increased for the second consecutive month in October, reaching 33.88%year-on-year, up from 32.70% in September, according to data from the statistics agency released onFriday.Inflation surged significantly in the latter half of last year after President Bola Tinubu devalued thenaira and removed subsidies in an effort to boost…

On Friday, the dollar was set for its strongest week in over a month, bolstered by expectations of fewer rate cuts from the Federal Reserve and anticipation that Donald Trump’s upcoming policies could further drive inflation once he assumes office in January. The greenback hovered near a one-year peak against…

General Motors is set to recall 77,824 vehicles due to incorrect software in the transmission control module, which could cause the vehicle to move unintentionally and increase the risk of a crash, according to the U.S. auto safety regulator on Thursday. The recall affects certain 2022-2023 Chevrolet Express and GMC…

China’s Geely announced on Thursday that its premium electric vehicle (EV) brand, Zeekr, will take control of its sister brand Lynk & Co. This marks the first major restructuring move in Geely’s planned overhaul of its extensive automotive portfolio. Geely Holding, which owns both Zeekr and Lynk alongside ten other…

**BAKU (Reuters)** – Negotiators at COP29 were urged on Thursday to either invest now to help poorer nations adapt to climate change or face higher costs in the future. Experts stressed that developing countries will need at least $1 trillion annually by the end of the decade to shift to…