(Reuters) -Citigroup and J.P.Morgan raised their forecasts for China’s annual growth on Wednesday, citing stabilizing economic indicators and Beijing’s recent supportive policy measures. The Wall Street brokerages raised their forecast for gross domestic product growth to 5%, in line with China’s target rate for 2023, and said the slowdown in…

The U.S. trade deficit shrank by 10% in August to a nearly three-year low of $58.3 billion, reflecting a change in consumer spending habits and possibly some developing weakness in the economy. The last time the deficit was that low was in September 2020, as the U.S. was beginning a…

The World Bank’s recent proposal to increase taxes on salaried individuals in Pakistan, including those earning over Rs 50,000 ($1 = Rs 284), has sparked controversy among professionals across the country. Critics argue that the proposed tax reforms, which were detailed in the World Bank’s Pakistan Development Outlook published today,…

The numbers: The number of Americans who applied for unemployment benefits last week rose slightly to 207,000, but they remained near pandemic-era lows and reflected an uber-strong labor market. New jobless claims edged up from a revised 205,000 in the prior week, the government said. Claims show a very low…

The World Bank, under the leadership of Ajay Banga, is shifting its focus towards addressing global challenges such as climate change. This strategic shift comes with the backing of India’s G20 presidency and advocates for reform in multilateral development banks (MDBs). The bank’s new direction is expected to be endorsed…

A smaller share of Americans support the U.S. providing weapons to Ukraine, according to a Thursday poll from Reuters and Ipsos. Just 41% of respondents agreed that Washington “should provide weapons to Ukraine” while 35% disagreed, with the remainder saying they were unsure. In May a similar poll showed 46%…

By Dharamraj Dhutia MUMBAI (Reuters) -India’s central bank is widely expected to keep rates on hold on Friday but any further liquidity withdrawal measures alone may push market yields higher, causing another increase in effective rates, treasury officials and analysts said. The average daily call rate has risen to 6.70%…

“‘I don’t think that democracy as we know it would withstand another Trump administration.’” — Sen. Joe Manchin That’s Sen. Joe Manchin, who said sees danger on the horizon if Donald Trump wins another term as president, but he wouldn’t explicitly endorse fellow Democrat Joe Biden during a televised interview…

The British Business Bank, under the leadership of CEO Louis Taylor, has launched a £150m Investment Fund for Scotland. The fund is designed to provide loans and equity investments for small businesses in the country. The initiative is the second in a series, following a similar launch in the South…

Bank of Baroda economists predicted on Thursday that the forthcoming Cricket World Cup in India, the first to be held in the country since 2011, will stimulate economic growth. They suggested that the travel, hospitality, and retail sectors are set to benefit significantly from this event. The economists expect that…