Pakistan is likely to get $4 billion from friendly countries this month to bridge a gap in foreign reserves highlighted by the International Monetary Fund, the country's finance minister said, two days after sealing a deal with the lender.
The Bank of Canada expects inflation to go "a little over" 8%, as soon as next week when June's data is released, and stay in that range for a few more months, Governor Tiff Macklem told a business group in a webcast transcript released late Friday.
The Japanese government plans to support Mitsui & Co and Mitsubishi Corp in their attempts to stay in the Sakhalin-2 oil and gas project, three sources said, after Russia seized control of the development key to Japan's energy supply.
Indonesia on Saturday urged G20 finance leaders to stay focused on their goals for global economic recovery, but sources said the meeting in Bali would likely end without a formal communique as Russia's war in Ukraine continues to divide the group.
British Prime Minister Boris Johnson will offer millions of public sector workers pay rises averaging 5% next week, the Financial Times reported on Friday, citing unnamed government ministers.
The United States has not ruled out more comprehensive trade negotiations with Kenya after launching a strategic trade and investment partnership with the African country on Thursday, Deputy U.S.
U.S. households are in a more comfortable financial position than before the pandemic but surging inflation has started to erode those gains, stirring a sense of insecurity and anger about price increases.
U.S. households are in a more comfortable financial position than before the pandemic but surging inflation has started to erode those gains, stirring a sense of insecurity and anger about price increases.
An epic rally in the dollar has investors wondering how much further it can run, though many are biding their time before turning bearish on the U.S. currency.
Federal Reserve officials signaled Friday they will likely stick with a 75-basis-point interest rate increase at their July 26-27 meeting, though a recent high inflation reading could still warrant larger increases than anticipated later in the year.
The price of a resale home in Canada fell 1.8% in June from last year, the first annual decline since May 2020, as the market continued to cool sharply from February's peak amid tighter borrowing conditions, data from Canada's realtors showed Friday.
Traditional debt crisis signs of crashing currencies, 1,000 basis point bond spreads and burned FX reserves point to a record number of developing nations now in trouble.
A government crisis in Italy is complicating a politically sensitive plan devised by the European Central Bank to support indebted euro zone countries on the bond market before it even starts in earnest.
Wall Street stocks closed sharply higher on Friday, ending several days of sell-offs with a rebound fueled by upbeat earnings, strong economic data and waning fears of a larger-than-expected interest rate hike by the Federal Reserve.
Wall Street bounced back with a broad rally on Friday, as investor confidence was boosted by upbeat earnings, heartening economic data and waning fears of a larger-than-expected interest rate hike by the Federal Reserve.
U.S. stocks climbed on Friday as upbeat retail sales data allayed some concerns about an imminent recession, while investors scaled back bets of a supersized interest rate hike in July after comments from Federal Reserve policymakers.
Japanese Finance Minister Shunichi Suzuki warned on Friday against "speculative moves" seen behind a rapid yen weakening, using the strongest wording to the day as the yen weakened to fresh 24-year lows beyond 139 yen to the dollar.
The Bank of Canada's surprise jumbo interest rate hike this week has jolted highly indebted consumers, who took out large mortgages during the pandemic, but were less prepared for the sharp rise in borrowing costs than Bay Street investors.
Investors betting that Japan will have to quit its ultra-loose monetary policy are running into riskier and pricier territory as the showdown shifts to the Bank of Japan's home turf in the bond market.
A more insular world economy will come at a high price if the era of global currency reserve building follows globalisation into reverse.
A more insular world economy will come at a high price if the era of global currency reserve building follows globalisation into reverse.
The Bank of Japan (BOJ) is expected to reiterate its resolve next week to keep monetary policy ultra-loose and remain a dovish outlier as many other central banks raise interest rates, a commitment that could lead to further falls in the yen.
The Indian rupee hit a record low on Friday and weakened for a 11th straight week as foreign investors continued to dump riskier assets amid rising concerns around a global recession with investors now awaiting the Fed meeting outcome on July 27.
Shares in embattled Chinese property developers fell on Friday as homebuyers' threats to stop mortgage payments on unfinished apartments outweighed Beijing regulators' assurance that local governments will get help to deliver property projects on time.
Indonesia booked a larger-than-expected trade surplus of $5.09 billion in June, as palm oil exports surged after the lifting of an export ban a month earlier while coal shipments to Europe also jumped, official data showed on Friday.
The dollar hovered below a near two-decade high in Asian trading on Friday, having slipped overnight after two Federal Reserve policymakers said they favoured a smaller rate rise than the 100 basis points (bps) that investors were betting on.
Global equities climbed on Friday, while the dollar dipped and oil rose as investors reduced their expectations of an aggressive interest rate hike by the Federal Reserve this month and as U.S.
Asian stocks fell to a two-year low on Friday and were heading for a weekly loss, while the dollar was set for its third week of gains after a fresh round of rate hikes globally deepened concern about the outlook for world economic growth.
Asian stocks hit a two-year low on Friday and were heading for a weekly loss, while the dollar was set for its third week of gains as a fresh slew of rate hikes around the world deepened concerns about the outlook for global economic growth.
Asian stocks hit a two-year low on Friday and were heading for a weekly loss, while the dollar was set for its third week of gains as a fresh slew of rate hikes around the world deepened worry about the outlook for global economic growth.
