ECONOMY & MARKETS

Flooding in China's rice fields is expected to result in lower yields that will then drive global prices up and affect food security in rice importing countries.

China on Tuesday released weaker than expected economic data, with slowing retail sales growth pointing to shaky consumer confidence in the world's second-largest economy.

When bond yields rise, the opportunity cost of capital committed to equities rises, and therefore, the expected return on equities decreases. As a result, equities command lower valuations.

Twelve months ago, Wall Street was trading on the narrative that the U.S. economy will slide into a full-blown recession for the rest of the year.

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China rejected blame for the G20 climate meet's failure to secure an agreement, blaming "some countries" that "introduced geopolitical issues as an obstruction."

China aims to become carbon neutral by 2060 and it has made significant strides in renewable energy, but it continues to rely on coal for energy generation.

The latest U.S. jobs report is a mix of positive and negative news as the national economy tries to achieve a so-called soft landing.

Fitch Ratings is sending a warning to the United States federal government that its current spending and borrowing habits cannot continue without serious consequences for the national and international economy.

The Bureau of Labor Statistics (BLS) will release the July nonfarm payrolls report on Friday morning. It's a survey of private business establishments in the country measuring the net number of jobs generated monthly.

Countries like India and China — the two largest consumers — saw coal demand grow by more than 5% in the first half of 2023.

P&G's price hikes may continue as the company faces cost pressures on several fronts.

France's finance minister said during a visit to Beijing on Sunday that cutting all economic ties with China was "an illusion", as some Western countries question their reliance on the Asian giant.

Japan pressed bankrupt Sri Lanka on Saturday to expedite its debt restructuring, including with its biggest creditor China, to stabilise the island nation's economy after an unprecedented crisis.

Americans are feeling better about their economic situation, according to two key metrics of consumer confidence.

A key indicator of US inflation cooled in June to the lowest annual rate in over two years, although this remains above the central bank's target, according to government data released Friday.

A stronger-than-expected U.S. GDP report and robust durable goods sales shook off fears of an impending recession, aiding the positive sentiment about corporate earnings.

The U.S. housing market is stabilizing in 2023 after rapid price increases in the post-pandemic years, but the demand for homes still significantly exceeds the supply.

Currently, the Indian economy sits in the fifth position in the world, behind the U.S., China, Japan and Germany.

As one of the world's fastest-growing economies, India offers a trainable and low-cost workforce, a wide array of consumers, and impressive receptiveness to trade and investment in the South Asian neighborhood.

Western nations fear an economic collapse in Tunisia could trigger even greater migrant flows to Europe and have offered financial assistance.

"This year, we are experiencing more than usual rainfall, probably due to global warming... Heavy rains mixed with flash flooding will further delay planting, resulting in lower-than-normal yields. It can threaten food security, not only in the country but globally also," said Mahesh Salgaokar, an independent agricultural consultant.

Australia and New Zealand broke Women's World Cup records in the opening matches, even with a fatal shooting in Auckland prior to the start. This Women's World Cup has potential positive economic impacts in Australia and New Zealand.

The chances for another hike have been rising thanks to a robust labor market, something the Fed monitors closely in determining the direction of the nation's monetary policy.

Energy ministers from the group of 20 nations meeting in India Saturday failed to agree on a roadmap to phase down the use of fossil fuels in the global energy mix.

"A sherpa, in a way guides or shepherds the process of planning, negotiation and implementation of the agenda for a particular member country," a T20 secretariat research coordinator for Think20 said. "Their work begins way ahead of the summit as they organize the agenda and look for political consensus at the highest levels."

There are so many potential uses for AI in the BPO industry such as enhancing the workflow and eliminating repetitive tasks among BPO workers. Will the benefits outweigh fears regarding potential human job losses?

"Implementing an INR-based international trade settlement mechanism can enhance India's trade with dollar-shortage countries, stabilize the INR against the USD and promote its acceptance as a regional/global currency," Kumar told IBT.

The U.S. ranked at 83 with an 11.23% tax-to-GDP ratio, even though the country has one of the highest GDPs per capita.