Economy
US retail sales up more than expected in March
Retail sales in the United States grew more than anticipated last month, government data showed on Monday, defying predictions of weaker consumer demand. While resilience in consumer spending has helped US economic growth in the last year, analysts expect demand to cool this year amid cost fatigue and high interest rates.
US to grant Samsung up to $6.4 bn for chip plants
The United States on Monday announced grants of up to $6.4 billion to South Korean semiconductor giant Samsung to produce cutting-edge chips in Texas. Under the latest agreement, Samsung will not only build a new facility to produce advanced chips, but also expand its existing facility in Texas, according to the Department of Commerce.
China set to post slowing growth on housing, consumption woes
China's economy is expected to have slowed in the first three months of the year as it continues to be buffeted by a debilitating property sector crisis and flagging consumer activity. And analysts say state pledges of support for the property sector are yet to sway the market or consumers.
Stocks hit by Iran's Israel strike, hopes for containment stem losses
Equities tumbled Monday in Asia after Iran ramped up Middle East tensions by launching a barrage of rockets at Israel over the weekend, fuelling fears of a wider conflict in the volatile region. Still, Saxo's Redmond Wong said: "All eyes remain on whether there will be any response from Israel and markets will likely be volatile in the day ahead to any geopolitical headlines."
Debt and climate back on IMF, WB spring meetings agenda
The spring meetings of the International Monetary Fund and the World Bank are due to open Tuesday, with two clear objectives: help countries combat climate change, and assist the most indebted nations.
Market correction: Trump stock tumbles after buoyant debut
After a winning debut on Wall Street last month, Donald Trump's media group has suffered a bruising retreat, denting the Republican candidate's wealth as he faces legal challenges. Since entering public markets on March 26, Trump Media and Technology Group has seen its market value plummet from around $11 billion to under $4.5 billion.
IMF confirms Kristalina Georgieva for second 5-year term
The IMF executive board confirmed Friday that it had reappointed Kristalina Georgieva to serve for a second five-year term at the helm of the international financial institution. Georgieva, a 70-year-old Bulgarian, has run the IMF since 2019, and told AFP last month that she was making herself "available to serve, if people want me to serve."
Biden rule hikes fees for oil projects on public lands
Oil companies drilling on public lands must post larger bonds and pay higher royalties under a rule finalized Friday by the Biden administration. "Let's be real: We need to get these oil companies off our public lands," said Evergreen Action's Mattea Mrkusic.
Thai group buys iconic Berlin department store
Thailand's Central Group said Friday it has bought the iconic KaDeWe department store in Berlin from insolvent Austrian real-estate giant Signa. "We are pleased to add KaDeWe Berlin to Central Group's historic flagship luxury store real estate portfolio," said Central Group's chief executive, Tos Chirathivat.
Economy
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