Global interest rates set to rise along with market volatility

SINGAPORE – The latest message from the United States Federal Reserve is crystal clear – asset purchase tapering will be sooner and faster than previously thought and interest rates could rise next year. At the Federal Open Market Committee (FOMC)…

Japan upgrades Q2 GDP on stronger business spending

TOKYO (REUTERS) – Japan’s economy grew faster than the initially estimated in the April-June quarter, helped by solid capital expenditure, although a resurgence in Covid-19 is undermining service-sector consumption and clouding the outlook. Revised gross domestic product (GDP) data by…

China’s Delta outbreak curbs spending, prompting GDP downgrades

BEIJING (BLOOMBERG) – China’s broadest Covid-19 outbreak since the beginning of the pandemic in late 2019 is hampering tourism and spending during the peak summer holiday, prompting analysts to review their economic growth projections as risks escalate. Authorities rushed to close…