Risk of a global recession is minimal, IMF economist says — would take ‘a lot to derail’
The Washington DC-based institute this week nudged its global growth outlook slightly higher to 3.2% in 2024.
UAE government unit denies cloud seeding took place before Dubai floods
The NCM said it had tracked the incoming heavy rainfall but did not target any clouds during that period, attributing the storm to natural rainfall.
High company valuations a ‘worry,’ IMF’s capital markets chief says
High corporate valuations could pose a significant risk to financial stability as market optimism becomes untethered from fundamentals, the IMF said Tuesday.
Adidas shares rise 8% after first-quarter profit hike, improved outlook
Shares of Adidas jumped on Wednesday after the company raised its full-year guidance and reported a first-quarter profit hike, according to preliminary figures.
Apple will ‘look at’ manufacturing in Indonesia, CEO Cook says, as China diversification push continues
Apple CEO Tim Cook said the company will “look at” manufacturing in Indonesia, following a meeting with the country’s President Joko Widodo.
Russia is expected to grow faster than all advanced economies this year
The IMF forecast will be galling for Western nations which have sought to economically isolate and punish Russia for its 2022 invasion of Ukraine.
Photos show heavy rain and severe flooding in the United Arab Emirates
The government there also issued a red warning, and shuttered offices, school and banks.
UK inflation eases less than expected to 3.2% in March, sparking concerns of U.S.-style stickiness
Economists polled by Reuters expected a reading of 3.1%, down from 3.4% in February.
Bank of Korea chief says won volatility is a little ‘excessive’ and will intervene if needed
The Bank of Korea will intervene to control currency volatility if needed, the BOK chief said, describing the recent market fluctuations as a little “excessive.”
Shares of critical chip firm ASML drop 5% as sales miss expectations with 22% fall
ASML on Wednesday said first quarter profit beat expectations while sales missed forecasts, with the compant sticking to its full-year outlook.
