Strength of U.S. economy will support global growth of 2.6% this year. The World Bank upgraded its outlook for the global economy, estimating that it will expand 2.6% this year on the strength of sustained growth in the United States. The...
KPMG has in its latest report outlined the three biggest risks for businesses right now, which may impact operations in 2024 and near future. Fighting an uphill battle to achieve long-term sustainability, international organizations are witnessing a slow-down in growth. Through...
This grew by 8.1% on a year-on-year basis. By the end of the first three months of the year (Q1 2024), China’s banking institutions' total RMB and foreign currency assets reached $60.14t, an 8.1% increase year-on-year (YoY), data from the...
Consumption remains sluggish despite wage hikes. Japan's economy shrank at an annualized 1.8% from January to March compared to the previous quarter, according to revised figures by the Cabinet Office, up from a 2% drop announced last month. The revised figure...
Easing financial pressures are expected to slow decline in credit quality, boost loan demand. Last week’s rate cut by the Bank of Canada is set to slow the deterioration in banks’ credit quality over the past year and may reignite...
Global spending on clean energy technologies and infrastructure is on track to hit $2 trillion in 2024 even as higher financing costs hinder new projects, notably in emerging and developing economies, according to International Energy Agency (IEA). Despite pressures on...
The risk to asset quality of banks in emerging markets (EM) is generally receding from peaks during or before the COVID-19 pandemic, supported by macroeconomic factors, said Moody's Rating. It said in a note that EM banks have generally adequate...
Global semiconductor sales are projected to increase 16.0% in 2024 and 12.5% in 2025, according to the US-based Semiconductor Industry Association (SIA). In a statement, the SIA said global semiconductor industry sales rose 15.8% year-on-year to US$46.4 billion in April...
Nvidia has shown no signs of slowing down or letting its rivals catch up; the company’s chief executive officer Jensen Huang said the firm plans to upgrade its so-called AI accelerators every year. The rise of generative AI is a...
The Consumer Financial Protection Bureau (CFPB) has taken another step designed to promote open banking in the US, finalising a rule for recognising data sharing standards and preventing incumbents from "squelching" startups. In October, the CFPB proposed its long-awaited open...
