Economics
The Dutch Will Join The US In Limiting Semiconductor Technology Exports To China
The Dutch government joined the American effort to limit chip exports to China on Wednesday by announcing new restrictions on semiconductor technology exports to safeguard national security. The announcement represented the Dutch government's first significant step toward adopting...
Bloomberg: U.S. to discuss one of largest defense budgets draft
The total U.S. military budget for the fiscal year that starts on October 1 will rise to $835 billion from the current $816 billion. This information was provided by a source who spoke to Bloomberg under the condition of anonymity because the budget has not yet been forwarded to Congress. The...
China Will Establish A New Financial Regulator As Part Of Sweeping Reforms
China will establish a new financial regulatory body to consolidate oversight, according to analysts, in order to close gaps with multiple agencies monitoring different aspects of its trillion-dollar financial services industry. According to a plan submitted to parliament on Tuesday, the...
US Fed's Powell Sets The Stage For Higher And Perhaps Quicker Rate Increases
The Federal Reserve will most likely have to increase interest rates more than anticipated in the face of current strong data, and it is prepared to take larger steps if the "totality" of incoming information indicates that tougher measures are required to control inflation, Fed Chair Jerome Powell...
JP Morgan: There is 15% chance of recession in USA in the first half of 2023
According to JP Morgan analysts, there is a 15% chance that the United States will experience a recession in the first half of 2023. In the first half of this year, the US recession risk dropped from 20% to 15%, according to JP Morgan. Out of four potential scenarios, it is currently the least...
OPEC+ estimates reduction in oil investments at $500bn a year
The amount invested in the extraction of oil worldwide is decreasing on average by $500 billion a year, and this may result in affordability and security issues, said Haitham Al Ghais, the general secretary of OPEC+. "The amount of investment going into the oil industry has significantly decreased,...
Australian Central Bank raises key rate to the highest in more than a decade
Australia's central bank increases the key rate to 3.6 percent, the highest level in more than a decade. The Reserve Bank of Australia increased its benchmark interest rate by 25 basis points on Tuesday to 3.60 percent, the highest level in more than a decade, and stated that additional monetary...
Chip Industry Of China Requires More Than Monetary Support From The Government To Address Impact Of US Sanctions Chip Industry Of China Requires More Than Monetary Support From The Government To Address Impact Of US Sanctions
China intends to spend heavily to help its chip sector overcome US export restrictions, but money can only go so far unless Chinese firms can break free from a cycle that stifles innovation and traps them at the bottom of the value chain, according to industry participants. According to...
China to increase military funding by 7% in 2023
According to the country's draft 2023 budget, Chinese officials will raise the military budget by 7.2 percent to 1,553.7 billion yuan (roughly $224.8 billion) in 2023. Additionally, spending on public security will increase by 6.4% to 208.972 billion yuan ($30.2 billion) and diplomatic action will...
ECB Head: We will raise the rate by 50 basis points in March
In an interview with Spanish television station Antena 3, the ECB’s head Christine Lagarde stated that the European Central Bank (ECB) will once more increase its key rate by 50 basis points in March to slow down the inflation. "The next meeting will see another increase; because inflation is too...
