Economy
IMF says ready for talks with Sri Lanka's new leftist government
The International Monetary Fund is ready to discuss its controversial $2.9 billion bailout programme for Sri Lanka with the country's new government, a spokesman said. "We will discuss the timing of the third review of the IMF-supported programme with the new administration as soon as practicable," the spokesperson said referring to the periodic review of the bailout.
Hong Kong, Shanghai rally on China stimulus on mixed day for markets
Hong Kong and Shanghai stocks rallied Tuesday after China unveiled fresh stimulus measures as the country's leaders struggle to kickstart growth in the world's number two economy. Hong Kong stocks jumped more than two percent and Shanghai was up around 0.8 percent.
China unveils fresh stimulus to boost economy
China's central bank on Tuesday unveiled a raft of measures to boost the country's struggling economy, cutting the amount of cash banks must hold in reserve and lowering a key interest rate. On Tuesday, central bank chief Pan Gongsheng told a news conference in Beijing that it would cut a slew of rates in a bid to boost growth.
Israeli economy struggles under weight of Gaza war
Nearly a year of war in Gaza has battered Israel's economy, and poverty is now threatening communities including in areas far removed from the fighting against Hamas. Fitch predicted in August that the Gaza war -- already the longest since the war that led to Israel's creation -- could stretch into 2025.
California sues oil giant Exxon over plastic recycling 'myth'
California began legal action Monday against oil giant ExxonMobil over a "decades-long campaign of deception" about plastics recycling that has worsened a global pollution crisis.
UBA, Zenith, GTB, other banks in Nigeria grow assets by 56% to half Nigeria’s GDP
From N2.72trn in 2022 to N3.5trn in 2023, the total value of financial institutions included in the national accounts grew by 28.8% yearly, or 4.6% of GDP.
Boeing boosts pay offer in effort to end strike
Boeing proposed lifting hourly wages for striking workers by 30 percent on Monday, sweetening its initial offer in an effort to end a 10-day stoppage that shuttered Seattle-area plants. The 30 percent general wage increase improves on the 25 percent in the earlier offer, which was initially endorsed by IAM leaders before the rank-and-file workforce rejected it decisively.
Man Utd stadium regeneration could add £7.3bn to British economy
A proposed regeneration of the area around Manchester United's Old Trafford stadium could generate £7.3 billion ($9.7 billion) annually to the British economy, according to an economic feasibility study commissioned by the club. United are considering whether to pursue a £2 billion plan for a brand new 100,000-seater stadium or redevelop the existing 74,000 capacity Old Trafford.
Friedkin Group reach deal to buy Everton
Everton announced on Monday that the US-based Friedkin Group has reached an agreement to buy Farhad Moshiri's majority stake in the struggling Premier League club. "Blue Heaven Holdings and the Friedkin Group confirm that they have reached agreement over the terms of the sale of Blue Heaven Holdings' majority stake in Everton Football Club," the club said.
Economy
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