Economy News

Economy

Durian Mania Sweeps China: A Culinary Revolution Fueled by the King of Fruits

China's catering industry is riding the durian wave, with innovative dishes and promotions capturing the nation's palate. From buffets to milk tea, durian's popularity is soaring, ...

Economy

Michael Barr Announces Resignation as Fed's Supervision Vice Chair, Shifting Regulatory Landscape Ahead

Michael Barr, the Federal Reserve Board's Vice Chair for Supervision, will resign effective February 28, 2025, but remain on the Board of Governors. The Fed plans to hold off on ma...

Economy

November Sees a 0.4% Dip in US Factory Orders: A Closer Look at the Economic Slowdown

In November, US factory orders declined by 0.4%, a $2.1 billion drop to $586.1 billion, contrasting October's 0.5% rise. Durable goods orders fell by 1.2%, while shipments and unfi...

Economy

Federal Reserve's Lisa Cook Hints at Gradual Rate Cuts Amid Economic Stability

Federal Reserve Governor Lisa Cook indicates a move towards gradual rate cuts as inflation and labor market dynamics stabilize, while highlighting future financial stability concer...

Economy

Germany's Inflation Surges to 2.6% in December, Exceeding Expectations

Germany's inflation rate unexpectedly rose to 2.6% in December, surpassing analyst predictions. The Consumer Price Index increased by 0.4% month-over-month, while food prices went ...

Economy

Prime Minister Calls for Policy Overhauls in HCMC to Secure $200B Investments by 2030

Prime Minister Chinh urges Ho Chi Minh City to implement policy changes to attract $200 billion in investments by 2030, aiming to transform it into a global city with a focus on gr...

Economy

President Biden Implements Sweeping Ban on New Offshore Oil and Gas Drilling to Protect Coastal Ecosystems

President Biden has enacted a sweeping ban on new offshore oil and gas drilling across 625 million acres of US coastal waters, aiming to protect ecosystems and transition towards c...

Economy

Trump Shifts Focus: Targets Critical Imports with Revised Tariff Strategy

President-elect Donald Trump is considering a sector-based universal tariff targeting critical industries like defense and medical supplies, aiming to protect national security wit...