The developing world is still reliant upon coal, gas and oil for the majority of its energy needs, according to the Energy Institute. Global consumption of fossil fuels such as coal and oil climbed to a record high last year,...
South Korea's overseas direct investment fell 14.6 percent in the first quarter of this year amid high interest rates and geopolitical uncertainties in the Middle East and elsewhere, the finance ministry said Friday. Investments made by South Korean companies overseas...
New Zealand’s economy exited recession, with modest expansion in the first quarter. Gross domestic product (GDP) gained 0.2% from the previous quarter, when it declined 0.1%, Statistics New Zealand said. The economy is struggling, as the Reserve Bank of New Zealand...
The central bank kept its rate steady even though inflation has fallen to its 2% target. The Bank of England on Thursday kept its main interest rate at a 16-year high of 5.25% even though inflation has fallen to its...
Chinese banks maintained their benchmark lending rate for a 10th straight month, as pressure on the yuan restricts policymakers’ space for easing. The one-year loan prime rate (LPR) was maintained at 3.45 per cent, according to a statement from the...
A gold mining enterprise worth more than 11 billion tenge (US$24 million) will be launched in the Bayanaul district in the Pavlodar Region by 2027. An investment project plans to mine up to 800,000 tons of gold ore per year...
AI is set to upend the finance industry, adding tens of billions of dollars in profit while leading to the automation of as many as half of jobs in the sector, according to research from Citi. Over half - 54%...
FDI flows reaches $1.3T last year amid economic slowdown, escalating geopolitical tensions. Global foreign direct investment (FDI) flows dropped 2% to $1.3 trillion in 2023 amid an economic slowdown and escalating geopolitical tensions, according to a report from UN's trade...
The European Union (EU) policymakers have renewed calls for cross-border bank mergers, as they look to address the multi-trillion euro investments needed to finance the bloc’s green and digital transformation. A plan for a fully-fledged banking union has stalled and...
It warns that if interest rates rise sharply in a short period of time, financial institutions could incur latent losses on their securities holdings. Japanese financial institutions’ profitability has decreased significantly in the past 25 years, making them vulnerable to...
