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China announces $137 bn sovereign bond issuance
China announces $137 bn sovereign bond issuance
Economy
by  AFP

China announced Tuesday it would issue sovereign bonds worth 1 trillion yuan ($137 billion), state media said, in a move seen as an attempt to shore up the economy after a sluggish post-Covid recovery. The bonds unveiled Tuesday will be distributed to local governments to support national disaster prevention and recovery, state news agency Xinhua said.

Israel-Hamas war threatens world economy, bankers tell Saudi forum
Israel-Hamas war threatens world economy, bankers tell Saudi forum
Economy
by  AFP

The Gaza war raging between Israel and Hamas could deal a heavy blow to the global economy, banking titans told a glitzy investment forum in Saudi Arabia on Tuesday. "What just happened recently in Israel and Gaza ... you put all this together, I think the impact on economic development is even more serious," World Bank President Ajay Banga told the Future Investment Initiative (FII).