Browsing: Business

China’s industrial profits fell 4.7 percent in the first eleven months of 2024, according to the National Bureau of Statistics, highlighting ongoing economic challenges.

Nike CEO Elliott Hill outlines strategies to revive growth by refocusing on performance and scaling back discounts, despite recent revenue and profit declines.

UK inflation rose to 2.6% in November, reflecting rising energy costs and wage pressures, according to the ONS. Core inflation also rose to 3.5%, underscoring persistent challenges.

The Federal Reserve is likely to cut rates again next week, marking the third reduction since September, potentially easing financial pressure on borrowers while savings account yields remain competitive.

Business confidence among Japan’s manufacturers improved to 14 in December, surpassing market forecasts, while nonmanufacturers’ sentiment declined slightly, highlighting mixed economic signals.

The ADB lowered South Korea’s 2025 growth forecast to 2%, citing a semiconductor slump despite rate cuts and policies. The projection aligns with IMF and OECD estimates.

Adnoc Gas has awarded Worley the FEED contract for Bab Gas Cap facilities, aiming to increase UAE’s gas processing capacity by 20% and drive progress towards gas self-sufficiency.

Masdar acquires 70% of TERNA ENERGY in a €3.2 billion deal, the largest on the Athens Stock Exchange, boosting Europe’s clean energy leadership.

U.S. businesses are stockpiling Chinese imports as President-elect Trump plans a 60% tariff, fueling inflation fears and supply chain concerns. Economists urge domestic investment.

The EU forecasts modest GDP growth of 0.9% in 2024, with inflation falling sharply and economic stability gradually returning after prolonged stagnation and global economic shocks.