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economic · economic

'Driver of global instability': UN chief says Middle East fighting must stop UN secretary-general Antonio Guterres has said that fighting must stop on all fronts in the Middle East as it is increasingly becoming a driver of global instability, according to Reuters. The UN chief noted that trade through the Strait of Hormuz has collapsed, energy markets have been upended, prices of food and key fertilisers have surged, and supply chains are buckling. The World Food Programme warned that as many as 45 million people could face acute food insecurity as a result, while rising prices and slowing growth threaten to push millions more back into poverty, he noted. He called the US announcement of an agreement for Hamas to relinquish its weapons and for Israel to withdraw its forces from Gaza "good news." "It was announced already that there is a roadmap to implement these objectives. That roadmap must be followed without any questions, scepticism, or determination to undermine it. Now is the time for both sides to implement what was agreed," said Guterres.

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Chilean President Jose Antonio Kast received China’s ambassador to Santiago, Niu Qingbao, at the La Moneda Palace on Friday morning, in an encounter that lasted more than an hour and marked the first meeting between the two men since the right-wing leader took office in March. According to the presidency, Kast, Foreign Minister Francisco Perez Mackenna and Foreign Affairs Undersecretary Patricio Torres used the meeting to review their bilateral agenda, the minister’s coming trip to China and the...

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Chinese ⁠government buyers bought at least eight ⁠cargoes of US soybeans on Friday for shipment from US Gulf Coast terminals and six cargoes for shipment from Pacific Northwest ports in October and November, two US traders with knowledge of the deals said. The ‌sales volume of at least 840,000 tonnes was among China’s largest single-day purchases this month after the world’s top soybean importer restarted purchases from the US in late June. China had slowed purchases of American soybeans over...

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Alberto Musalem says he supported dissenters’ calls for a quarter-point interest rate rise

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The country is focused on exports, but China is slowing imports and U.S. tariff threats are growing. Politicians are offering few alternatives.

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Former Federal Reserve Vice Chairman Richard Clarida, and now a global economic adviser for Pimco, says said the central bank risks creating uncertainty if it alters its preferred inflation measure without clearly communicating what policymakers are targeting. Clarida offered that caution on Friday on "Bloomberg Money" in the wake of Chairman Kevin Warsh’s suggestion for a review of possible alternatives to the US personal consumption expenditure core index, known by the acronym PCE. Clarida speaks to Scarlet Fu and Tom Keene. (Source: Bloomberg)

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India’s largest consumer companies are gearing to raise prices on products from toothpaste to tires and paint ahead of the festival season and for the second straight quarter, as the prolonged Middle East conflict drives up commodity costs and threatens to keep inflation elevated.

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The total volume of non-commodity non-energy exports reached around $163.7 bln

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America’s defense industrial base cannot build the Navy out of the threat it faces. Decades of industry consolidation, persistent resource shortages, and inconsistent demand signals have delayed the production of critical vessels and munitions. With production bottlenecks stacking up, the Navy may have no choice but to let its allies do some of the building.Both the National Defense Strategy and Navy Warfighting Instructions highlight how mobilizing allies can field more forces to the mutual benefit of the United States and its strategic partners. Likewise, the latest U.S. Navy Shipbuilding Plan stresses the importance of allied investment and production.The Trump administration The post How Japan Could Co-Produce the Navy’s Future Fleet appeared first on War on the Rocks .

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As the relationship between the United States and Canada continues to degrade, it now comes at the expense of each country’s industrial security.Last month, the Pentagon announced the unilateral suspension of the 86-year-old Canadian Permanent Joint Board on Defense in response to what the White House sees as Ottawa’s failure to present a credible plan to spend 3.5 percent of GDP on defense by 2035. And the opening of the gleaming new bridge between Detroit and Windsor has been long delayed in the tense run-up to the continental trade deal review.What many policymakers in Washington fail to realize is that The post The Defense Industrial Alliance Washington Is Throwing Away appeared first on War on the Rocks .

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The Federal Reserve's decision, which was broadly expected, means rates remain between the 3.5% and 3.75%.

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Federal Reserve Chairman Kevin Warsh faces a difficult choice regarding monetary policy. His recent statements on inflation have unsettled bond markets significantly. Some central bankers are advocating for interest rate hikes to combat rising prices. Others, however, are hesitant to disappoint President Donald Trump's easing expectations. This internal division creates uncertainty for future economic policy decisions.

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Global markets face significant turbulence this week from multiple sources. AI-linked stocks are experiencing unprecedented volatility as investor concerns grow. The ongoing conflict in the Middle East continues to impact oil prices and trade routes. U.S. jobs data will provide clues on potential Federal Reserve interest rate hikes. Europe's heatwave and wildfires add economic pressures to already strained governments.

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ITC's first quarter net profit declined twenty-seven percent year-on-year. Record taxation on cigarettes significantly impacted the company's core business operations. The West Asia crisis also negatively affected agri-business exports during the period. However, the FMCG segment showed resilience with revenue and profit growth. Consumption remained steady across rural and urban markets despite inflation concerns.

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Federal Reserve Chairman Kevin Warsh is considering reducing the frequency of the central bank’s scheduled policy meetings, the New York Times reported Friday. Warsh raised the proposal to change the frequency of meetings at this week’s gathering of the Federal Open Market Committee, the paper added. Bloomberg Managing Editor Kate Davidson said changing the schedule would be the biggest change for Warsh. (Source: Bloomberg)

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The rout in longer-dated US Treasuries has sent a popular BlackRock Inc. exchange-traded fund tumbling to its lowest level in over two decades, as concerns around sticky inflation continue battering fixed-income portfolios.

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Former Federal Reserve Vice Chairman Richard Clarida joins Scarlet Fu and Tom Keene on "Bloomberg Money" to discuss this week's Fed decision, Chairman Kevin Warsh's communication decisions and the increased divergence in the K-shaped economy. Clarida is currently a global economic adviser for Pimco. (Source: Bloomberg)

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Bond traders are paying the highest premiums since March to protect against a further climb in longer-dated yields, as the fallout from this week’s Federal Reserve policy meeting continues to ripple through the rates market.

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Bill Dudley, a Bloomberg Opinion columnist and former president of the Federal Reserve Bank of New York, reacts to Fed Chairman Kevin Warsh's news conference following the central bank's decision to leave interest rates unchanged. Speaking on "Bloomberg Surveillance," Dudley says Warsh's silence was "quite deafening" and markets are showing there's a loss of credibility in the Fed. (Source: Bloomberg)

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Three rate-setters rebelled against US central bank’s majority decision to hold rates steady this week

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August is historically the rand’s worst month, and traders expect this year to be no different as questions about the central bank’s policy stance add to seasonal woes for South Africa’s currency.

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New forecasts show the central bank to be more confident about activity and inflation

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The dollar headed for its worst week in three months on concerns the Federal Reserve won’t move forcefully enough to contain inflation.

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Not a day passes without someone in Europe or the United States complaining about China’s “overproduction” and “China shock 2.0”. The narrative is of a deliberate, subversive Chinese strategy, underpinned by subsidies, to undermine the manufacturing economies of the West and exert economic hegemony worldwide. Inaccurate as the narrative may be, it is widely accepted and used to justify demands for protection. The larger China’s trade surpluses, the louder the likely clamour from Western...

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Russian energy exports could face sweeping tariffs under bill named for late Senator Lindsey Graham.

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Kenya’s annual inflation rate climbed slightly up in July, exceeding the midpoint of the central bank’s target range for a third month, as energy costs fueled price growth.

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Copper headed for a monthly advance on growing signs of tight supply, fueled in part by large flows of material to the US ahead of a highly-anticipated decision by the Trump administration on import tariffs.

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North Korea’s economy expanded for a third straight year in 2025, boosted by arms exports to Russia, stronger trade with China, and Kim Jong Un’s drive to develop regional industries, according to estimates by South Korea’s central bank.

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Iron ore rose as threat of strike action by BHP Group workers at the export hub of Port Hedland raised concerns about potential supply disruptions, although weak Chinese demand will likely cap price gains.

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The Japanese yen faced renewed pressure after Tokyo intervened in currency markets. The dollar gained as traders questioned the US Federal Reserve's inflation stance. Japan conducted yen-buying intervention, pulling the currency from four-decade lows. The Bank of Japan is expected to keep interest rates steady at one percent. Analysts anticipate the BOJ will raise rates again by year-end.