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Germany raises growth forecasts, but warns reforms needed
Germany's economy will eke out meagre growth in 2025 before picking up speed next year, the government Wednesday said as it raised forecasts, but called for "decisive reforms" for a sustained recovery. In its latest forecasts, the economy ministry said it did not expect a third year of recession in 2025, although the economy would only grow 0.2 percent.
EU wants key sectors to use made-in-Europe AI
The EU on Wednesday told European businesses in critical sectors to ramp up their uptake of artificial intelligence and pushed for the bloc to cut its dependence on foreign AI providers.
In Simandou mountains, Guinea prepares to cash in on iron ore
At the foot of the Simandou mountains in southeast Guinea's lush tropical forest, thousands of workers, trucks and excavators are digging up the hills. "When you look at the Simandou railway's route, it passes very far from all of Guinea's major cities," he said.
Gold tops $4,000 for first time as traders pile into safe haven
Gold prices broke $4,000 for the first time Wednesday as investors piled into the safe haven over expectations for US interest rate cuts and worries over the US government shutdown. Gold -- long considered a go-to in times of uncertainty -- climbed to a high of $4,006.68 Wednesday, even as the dollar has pushed up against most of its peers in recent days.
Indian garment exporters reel under US tariffs
When Donald Trump was elected, Indian garment exporter R.K. Sivasubramaniam thought the new US president would boost business and invested heavily in anticipation of a boom. "We cannot give that much," said Sivasubramaniam, whose desk carries crossed US and Indian flags.
Trump talks up Canada trade deal chances with 'world-class' Carney
President Donald Trump said Canadian Prime Minister Mark Carney would be "very happy" after their trade talks at the White House Tuesday, but offered no immediate concessions on lifting steep US tariffs. But Carney, who faced pressure at home to get a deal during his second White House visit since taking power in April, left without any firm promises that tariffs would be lifted.
WTO hikes 2025 trade growth outlook but tariffs to bite in 2026
AI-related goods and a surge in exports to the United States to beat President Donald Trump's tariff hikes boosted global merchandise trade growth this year, the World Trade Organization said Tuesday.
US stocks edge higher as shutdown drags on
Wall Street stocks edged higher early Tuesday, extending an upbeat stretch as markets continue to look past a US government shutdown that has curtailed economic data releases. "Market participants are looking at the government shutdown with an historical lens and saying that in large part, it doesn't affect the market or the economy," said Art Hogan of B. Riley Wealth Management.
German factory orders drop in new blow to Merz
German industrial orders unexpectedly fell in August, marking a fourth straight month of decline, official data showed Tuesday, the latest blow to the government's efforts to reboot the ailing economy. Analysts surveyed by financial data firm FactSet had predicted an increase of one percent in August.
AFP
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