Market Archives - Page 21 of 43

26Jun

By Online DeskNo Comments

Asia, China, Market

Address by China Premier Li Qiang to the Annual Meeting of New Champions 2024

This is a transcript from China Premier Li Qiang's speech at the Opening Plenary of the Annual Meeting of the New Champions. Premier Li Qiang underscored the importance of global cooperation and innovation to drive economic growth and identifies artificial intelligence, green energy and biomedicine as potential multitrillion-dollar pillar industries. The 15th Annual Meeting of the New Champions takes place 25-27 June in Dalian under the theme, "Next Frontiers for Growth". Your Excellency President Andrzej Duda, Your Excellency Prime Minister Pham Minh Chinh, professor Klaus Schwab, your excellencies heads of international organizations, distinguished guests, ladies and gentlemen, friends. It is a great pleasure to join friends, old and new, here in the beautiful city ...

<strong>CHINESE CHIP PRODUCTION AT RISK AS EQUIPMENT BAN LOOMS</strong>

26Jun

By Michael SmithNo Comments

Asia, China, Market, USA

CHINESE CHIP PRODUCTION AT RISK AS EQUIPMENT BAN LOOMS

The United States is intensifying its measures to restrict China's access to cutting-edge chip technologies capable of manufacturing gate-all-around (GAA) transistors and high-bandwidth memory (HBM) chips. ChangXin Memory Technologies Inc (CXMT), a Hefei-based company that manufactures DRAM for computer servers and smart vehicles, is likely to be a significant focus of Washington's potential restrictions, as per media reports. Samsung Electronics, SK hynix, and Micron are among the major competitors of CXMT. Alan Estevez, who heads the Bureau of Industry and Security (BIS) at the US Commerce Department, recently embarked on a trip to the Netherlands. The purpose of his visit, as reported by Reuters on Tuesday, was to discuss the inclusion of an additional 11 Chinese chip manufacturi...

25Jun

By Online DeskNo Comments

Asia, Market, World

Revenue Statistics in Asia and the Pacific 2024

This annual publication compiles comparable tax revenue statistics for 36 economies, including Armenia, Australia, Azerbaijan, Bangladesh, Bhutan, Cambodia, People’s Republic of China, the Cook Islands, Fiji, Georgia, Hong Kong (China), Indonesia, Japan, Kazakhstan, Kiribati, Korea, Kyrgyzstan, Lao People’s Democratic Republic, Malaysia, the Maldives, the Marshall Islands, Mongolia, Nauru, New Zealand, Pakistan, Papua New Guinea, the Philippines, Samoa, Singapore, the Solomon Islands, Sri Lanka, Thailand, Timor-Leste, Tokelau, Vanuatu and Viet Nam. Additionally, it provides information on non-tax revenues for 22 of the 36 economies. The publication applies the OECD Revenue Statistics methodology to Asian and Pacific economies, facilitating consistent comparison of tax levels and structure...

25Jun

By Online DeskNo Comments

Asia, China, Market, USA, World

OECD Economic Surveys: United States 2024

The United States economy has continued to expand at a solid pace and price pressures have eased somewhat. However, a sustained fiscal deficit has contributed to raising public debt as a share of GDP to its highest level since World War II, with a further substantial increase in prospect over coming decades as the population ages. To put the public finances on a more sustainable path, a multi-year fiscal adjustment should be enacted that achieves savings on pensions and healthcare and raises taxation, including on capital incomes. A more medium-term oriented and less complicated federal budgeting process would support this. At the same time, economic growth would benefit from productivity enhancing reforms that promote competition, including through maintaining international trade opennes...

25Jun

By Online DeskNo Comments

China, Market

In pictures: Leaders talk global economy, China, climate, AI and more at AMNC24

As geopolitical tensions and economic uncertainty continue to impact the global economy, around 1,600 leaders from business, government, civil society, academia and international organizations are gathering at the World Economic Forum's Annual Meeting of the New Champions. The event–taking place in Dalian, People’s Republic of China, from 25-27 June 2024–features dozens of public sessions focusing on the critical issues facing the world. The topics of discussion include new avenues of economic growth, the proliferation of artificial intelligence and advanced technologies, China's role in the global economy, the climate crisis and the clean energy transition, among others.

18Jun

By Online DeskNo Comments

Asia, China, Market

Measurement of health human capital and its economic effect in China

Improving individual health not only enhances labor productivity but also boosts the productivity of society as a whole. China’s economic development is in urgent need of transitioning from being driven by factors to being driven by innovation, which places higher demands on Health Human Capital (HHC). An evaluation system consisting of 18 indicators across four dimensions—basic health, preventive healthcare, medical resources, quality, and healthy environment—was used to calculate the HHC index of 31 provinces and cities in China from 2005 to 2019 using the entropy method. Following that, this study assessed the influence of HHC on economic growth using endogenous growth theory and the Corgis production function. Firstly, we discovered that the level of home healthcare services in China ...

17Jun

By Online DeskNo Comments

Asia, Market, USA, World

US July 2024 visa bulletin: Big leaps for Indians in Green Card category

The July Visa Bulletin has brought a notable shift in various visa categories. The US State Department has retrogressed the EB-3 All Other Countries category. In the EB-1 category, India has moved forward by 11 months, now at February 1, 2022. This is a big change, marking significant progress for applicants in this category. On the other hand, the EB-2 category for India has advanced by two months, reaching June 15, 2012. What is the US Visa Bulletin? The Visa Bulletin lists priority dates, essentially placeholders in the green card application line. Each month, the US Department of State calculates how many applications are waiting in each category, helping them estimate when different applicants might be able to move forward. These dates in the Visa Bulletin indicate the earli...

17Jun

By Online DeskNo Comments

Asia, Market, World

Six imperatives for credit unions to secure their future

Credit unions in the United States are at a crossroads. Their membership ranks are aging, and young people don’t always see credit unions’ offerings as a good value. That means credit unions need to work harder to attract younger members, or risk fading into irrelevance. (For more details on credit unions—what are they exactly and who can join one—see sidebar, “A brief history of credit unions.”) US credit unions have had a strong run in recent years. Since 2018, loans at credit unions have grown 8.8 percent a year, on average,1 compared with 8.0 percent a year for bank loans,2 while deposits at credit unions have risen 9.0 percent, compared with 8.9 percent for bank deposits. Despite these positive trends, 2023 was a difficult year for US credit unions, as ROA for the sector fell 23.5...

13Jun

By Online DeskNo Comments

Asia, China, Market, World

June 2024 Fed meeting: Fed maintains current policy rate and sees only one rate cut in 2024

Key takeaways During its June meeting, the Federal Reserve (Fed) unanimously voted to hold policy rates steady for the seventh consecutive time, leaving the Fed Funds Target Rate unchanged at 5.25% to 5.50%. The much-anticipated Summary of Economic Projections (SEP) broadly met expectations with a higher inflation forecast for 2024 and less easing this year; The median FOMC member called for one 25 basis point cut by the end of this year and four 25 basis point cuts in 2025. Within the Fed’s economic projections, the most significant update was the expectation that core inflation will move to 2.8% for year-end from 2.6%. This increase is likely due to strong first quarter inflation. Chair Powell underscored that the Fed’s decision on the direction of rates continues to b...

13Jun

By Online DeskNo Comments

Market, USA, World

US Fed holds key rates elevated at 23-year high, expects single 0.25% reduction in 2024; 5 key takeaways

The US Federal Reserve announced its fourth interest rate decision for 2024 on Thursday, after a two-day Federal Open Market Committee (FOMC) meeting, where it unanimously voted to leave the key benchmark interest rates unchanged at 5.25 per cent - 5.50 per cent for the seventh straight meeting, which was broadly in line with Wall Street estimates and market analysts. The US central bank has maintained its key overnight interest rate at the 23-year high-mark since July 2023. Despite US inflation falling further to the target range in recent months, the Fed does not expect to reduce interest rates until it has “gained greater confidence” that inflation is moving sustainably towards its two per cent level. Fed policymakers also slightly raised the US core inflation forecast for this ...

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