Hong Kong CNN — In the year since the Russian invasion of Ukraine, Moscow has been hit by unprecedented Western sanctions and shut out of much of the global economy. But China, which has declared “no limits” to its friendship with its northern neighbor, has thrown the Kremlin an economic lifeline, tempering the impact of […]
The Pakistani rupee fell 9.6% against the dollar on Thursday, central bank data showed — the biggest one-day drop in over two decades — in a slump that may persuade the International Monetary Fund to resume lending to the country. The drop comes a day after foreign exchange companies removed a cap on the exchange […]
Hong Kong CNN Business — Chinese President Xi Jinping is visiting Saudi Arabia this week for the first time in nearly seven years, during which he is expected to sign billions of dollars of deals with the world’s largest oil exporter and meet leaders from across the Middle East. The visit is a sign that […]
Hong Kong CNN Business — When Chinese leader Xi Jinping secured a historic third term in power at the weekend and stacked his top team with loyalists in a clean sweep not seen since the Mao era, investors were quick to pass judgment. Chinese stocks listed in Hong Kong and New York crashed on Monday, […]
Hong Kong CNN Business — Hong Kong stocks had their worst day since the 2008 global financial crisis, just a day after Chinese leader Xi Jinping secured his iron grip on power at a major political gathering. Foreign investors spooked by the outcome of the Communist Party’s leadership reshuffle dumped Chinese equities and the yuan […]
New York CNN Business — Around the world, markets are flashing warning signs that the global economy is teetering on a cliff’s edge. The question of a recession is no longer if, but when. Over the past week, the pulse of those flashing red lights quickened as markets grappled with the reality — once speculative, […]