Sudan’s exports of gum arabic, a key ingredient used in the manufacture of pharmaceuticals, cosmetics and food, have ground to a halt since a conflict between rival military factions erupted last month, raising fears of a global shortage.
President Vladimir Putin has increasingly put Russia’s economy on a war footing since his invasion of Ukraine. The central bank is also being enlisted for the fight under a decorated military officer installed as a deputy governor.
New Zealand’s central bank raised interest rates by a quarter-percentage point and unexpectedly signaled that no further policy tightening will be needed to tame inflation, sending the nation’s currency tumbling.
Asian travel and retail stocks fell amid concerns on the latest wave of Covid in China as well as a possible slowdown in the US economy.
Australia’s relationship with India has entered “T-20” mode, Indian Prime Minister Narendra Modi said after meeting his counterpart Anthony Albanese, referring to a shortened, fast-paced cricket format popular in both countries.
South Korea wants brokerages to swap short-term risky property debt for longer term borrowings, in bid to counter risks in the real estate market and avoid a repeat of last year’s turmoil.
Commodity cheerleader Goldman Sachs Group Inc. said its forecasts for major rises in raw materials this year hadn’t panned out well so far, but coupled that assessment with another call for a major rally.
China is stepping up training at its government agencies, universities and state-owned enterprises on how to safeguard state secrets, underscoring Beijing’s increasing emphasis on national security.
China pledged to step up auditing work to ensure the Communist Party’s major policy initiatives are enforced and that public funds are used properly, a possible warning to local officials as economic concerns mount.
The US faces a $48 trillion moment of truth this decade that could see it lapsing into a Japan-like funk of collapsing asset prices and meager economic growth or breaking through to a period of accelerated productivity and greater prosperity.
