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News About The Global Economy
October 24, 2014
Shaky Japanese economy hit by growing trade deficit
Tokyo (AFP) Oct 22, 2014
Japan's shaky economy was dealt another blow Wednesday, as official data showed a widening September trade deficit that puts the world's number-three economy on track to log a record annual shortfall. The worse-than-expected deficit of 958.3 billion yen ($8.96 billion) comes on the back of a string of weak figures and a sharp contraction in the second-quarter, which raised fears that a recovery in Japan's economy has been derailed. The latest numbers translated into a trade deficit of 10.47 tril ... read more

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APEC finance chiefs see 'downside risks' to global economy
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China overseas investment almost doubles in September: govt
China's overseas investment almost doubled year-on-year to $9.79 billion in September, the government said Thursday, again exceeding incoming funds even though they recovered from multi-year lows. ... more
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Son of China's former premier quits investment bank
The son of China's former premier Zhu Rongji has resigned as head of the country's top investment bank China International Capital Corp (CICC), the company said Tuesday, but gave no reason for his departure. ... more
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China's economic rise challenges IMF
The International Monetary Fund was launched in 1944 with the world's new superpower, the United States, in position as the key force and shareholder in the global crisis bank. ... more
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China exports and imports surge ahead of expectations
China's exports and imports both rose more than expected in September, Customs data showed Monday in a positive signal for the world's second-largest economy, but analysts warned that fundamentals remained weak. ... more
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No need for big stimulus in China: PBOC economist
China's slowing economy does not need any big stimulus, because the jobs market continues to be strong, the Chinese central bank's chief economist said Saturday. ... more
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China September inflation slows to near five-year low
Inflation in China fell to 1.6 percent in September, the government said Wednesday, below analysts' forecasts and the lowest in the world's second-largest economy for almost five years. ... more
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Microsoft CEO gaffe fuels debate on women in tech
Microsoft chief executive Satya Nadella's gaffe over women, pay raises and karma comes as the US tech industry is facing up to questions over diversity and gender equality. ... more
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IMF keeps China growth forecast at 7.4%, warns of 'near-term risks'
The International Monetary Fund left its forecast for China's economic growth this year unchanged at 7.4 percent Tuesday but warned the world's second-largest economy faces a range of "near-term growth risks", especially in real estate. ... more
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World Bank cuts China, East Asia growth forecasts
The World Bank on Monday trimmed its growth forecasts for developing East Asian economies this year and next, as China's economic expansion loses momentum and policymakers face tighter global monetary conditions. ... more
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Indonesian graft busters launch anti-corruption app
Indonesia's powerful anti-graft agency said Thursday it had launched a mobile app packed with graphics and games to educate the public and officials about bribery in one of the world's most corrupt countries. ... more
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'Umbrella Revolution' risks cold shower for HK business
The "umbrella revolution" is starting to weigh on Hong Kong's domestic economy as protests escalate but the real concern is over the city's status as an international financial hub. ... more
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China manufacturing growth stalls in September: govt
Chinese manufacturing growth stalled in September, data showed Wednesday, as a sluggish property market complicates leaders' attempts to address a slowdown in the world's second-largest economy. ... more
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China September PMI misses estimate: HSBC
China's manufacturing activity came in below initial expectations in September, HSBC said Tuesday, adding to pressure on Beijing to address slowing growth in the world's second-largest economy. ... more
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Alibaba approved for private bank in China: regulator
Chinese e-commerce giant Alibaba, which completed the world's largest stock offering earlier this month, has received approval to set up a private bank, it was announced Monday. ... more
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Vietnam's growth accelerates despite anti-China riots
Vietnam's economy grew at its fastest rate for three years in the first nine months of 2014, government figures showed Monday, despite deadly anti-China riots that targeted factories and threatened to dent foreign investment. ... more
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Modi election points to India economy 'turnaround': ADB
India's economy shows promise of a "turnaround" following Narendra Modi's election, while Asian markets will likely ride out the effects of further stimulus tapering by the United States, the Asian Development Bank said Thursday. ... more
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Record-breaking year for contemporary art
The contemporary art market experienced a record-breaking year in 2013/14, smashing through the $2 billion mark for the first time, according to new figures released on Tuesday. ... more
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Jack Ma of Alibaba becomes China's richest person
The largest stock offer in history has made Jack Ma, founder of e-commerce giant Alibaba, China's richest person with a fortune of $25 billion, an annual wealth ranking in the world's second largest economy showed Tuesday. ... more
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OECD backs Japan tax hike, more easy money
Japan should raise sales taxes again next year despite wobbles in the economy caused by the first rise, and the central bank should cushion the blow with more easy money, the OECD said Monday. ... more
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China manufacturing gauge picks up in September: HSBC
China's manufacturing sector saw a surprise pick-up in September, a closely watched survey showed Tuesday, but economists warned a slowdown in the key property sector was an ongoing risk to growth. ... more
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Japan cuts view of the economy as PM promises reform
Japan on Friday downgraded its assessment of the economy for the first time in five months, as a string of weak data hammers hopes for a quick recovery following Tokyo's April sales tax hike. ... more
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Asia's billionaires see fastest wealth growth: report
Asia's billionaires led by Chinese tycoons enjoyed the fastest increase in their wealth this year compared to their peers in the rest of the world, a report said Wednesday. ... more
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More stimulus measures seen as China boosts economy
A reported $81 billion injection into China's major banks is probably the first of a series of fresh stimulus measures by Beijing to bolster its flagging economy, the world's second largest, analysts said Wednesday. ... more
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China's overseas investment soars as FDI drops again
China's outbound investment more than doubled in August to $12.62 billion, data showed Tuesday, far outstripping foreign direct investment (FDI) into the country, which fell to a four-year low. ... more
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