Will signing expensive footballers like Cristiano Ronaldo break Saudi Arabia’s finances? No, because the total spending is still relatively small, according to Bloomberg Economics. But sports outlays and the construction of futuristic cities such as Neom increase import expenditures, thus requiring a higher oil price to pay for them.
Japanese lawmakers are weighing sales of government stakes in some of the nation’s biggest companies to fund expanding defense costs. But doing so won’t be easy, given the need to reach a consensus within the government, and a requirement to change laws in some cases.
India’s services activity in July accelerated at the quickest pace in over 13 years due to an improvement in international demand and new business orders.
Singapore stands to benefit from more investments and a continued influx of wealth amid geopolitical tensions surrounding China and its tepid economic growth, according to Southeast Asia’s largest bank.
The Bank of Japan came into the market for the second time this week to slow gains in benchmark sovereign bond yields, underscoring its determination to curb sharp moves in rates even as it makes room for them to rise.
Thailand’s constitutional court sought more time to review a petition against a parliament move last month to bar pro-democracy leader Pita Limjaroenrat from seeking renomination as prime minister.
Major Ukrainian farm companies are curbing winter crop plantings after Russia blocked the main Black Sea export route, hitting world food supplies for the next two years.
Not even record inflation looks likely to spur Egypt’s first interest-rate hike since March, with policymakers seen raiding other parts of their toolbox to tackle price pressures until a debilitating foreign-currency crunch is resolved.
Global investors are still waiting for “concrete policy initiatives” from the Chinese government to bolster its economy as business confidence remains weak, according to alternative asset manager PAG.
Standard Chartered Plc is losing several senior long-serving executives in its India operations, with some heading for new opportunities at rival local banks.
