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(Bloomberg) -- Super Typhoon Yagi and its aftermath cut a swath of destruction across north Vietnam estimated at 40 trillion dong ($1.6 billion), threatening to lower the country's economic growth for the year.The losses could trim 0.15 percentage points off 2024's economic growth, according to state media, citing an estimate by the Ministry of Planning and Investment. The government previously targeted this year's expansion at as much as 7%.©2024 Bloomberg L.P.By Nguyen Dieu Tu UyenReported by Author [Extracted from the article]

Indian food-delivery platform Swiggy is reportedly considering filing for its domestic initial public offering (IPO) this week. The IPO is expected to raise over $1 billion, pending approval from India's Securities and Exchange Board of India (SEBI). Swiggy, founded in 2014 and backed by SoftBank Group Corp., partners with over 150,000 restaurants across India to deliver food. The company competes with other food delivery services such as Zomato, Amazon India, and BigBasket. This IPO would contribute to the increasing number of share sales in India, with $7.8 billion already raised this year. [Extracted from the article]

Serbia has resumed its policy of easing monetary measures, lowering its one-week repurchase rate to 5.75%, the lowest level since March of the previous year. This decision aligns with the expectations of most economists surveyed. The central bank predicts that inflation will continue to slow and remain within the target range of 1.5%-4.5%, with a tendency to decline closer to the 3% target. Serbia's economic growth has remained strong, supported by lower inflation, rising wages, and improved credit conditions. The country is closely monitoring the policy moves of the European Central Bank and the Federal Reserve, as their decisions impact investor perception of riskier assets. Lower interest rates are expected to ease demand for the dinar and help manage its exchange rate against the euro. Erste Group Bank AG predicts further rate cuts in the future. [Extracted from the article]

Serbia has resumed its policy of easing monetary measures, lowering its one-week repurchase rate to 5.75%, the lowest level since March of the previous year. This decision aligns with the expectations of most economists surveyed. The central bank expects inflation to continue to slow and remain within the target range of 1.5%-4.5%, with a tendency to decline closer to the 3% target. Serbia's economic growth has remained strong, supported by lower inflation, rising wages, and improved credit conditions. The country is closely monitoring the policy moves of the European Central Bank and the Federal Reserve, as their decisions impact investor perception of riskier assets. Lower interest rates are expected to ease demand for the dinar and help manage its exchange rate against the euro. Erste Group Bank AG predicts further rate cuts in the future. [Extracted from the article]

Serbia is expected to resume monetary easing by reducing its one-week repurchase rate by a quarter of a percentage point to 5.75%. This decision is based on the central bank's forecast of further inflation slowdown and the anticipated interest rate cuts by the European Central Bank and the Federal Reserve. Lowering the key rate will help alleviate appreciation pressures on the dinar and support Serbia's economic growth, which is projected to be 3.8% this year. The decision will be announced at the same time as the release of price-growth data for August. [Extracted from the article]

India's retail inflation remained below the central bank's target for the second consecutive month, which could complicate the possibility of interest rate cuts. In August, the consumer price index increased by 3.65% compared to the previous year, slightly higher than the forecasted 3.44% gain. The Reserve Bank of India has kept its benchmark interest rate unchanged for over 18 months, with the governor hesitant to ease policy until inflation stabilizes around the target of 4%. However, there are concerns that the tight monetary policy may have negatively impacted economic growth, as India's economy experienced its slowest growth in five quarters from April to June. [Extracted from the article]

Nigeria's government successfully raised $900 million in its first domestic auction of dollar-denominated bonds, surpassing the targeted amount. The five-year notes have an annual coupon of 9.75%, slightly higher than the yield of similarly dated Nigerian eurobonds. The auction received a 180% oversubscription, indicating strong confidence from domestic investors in Nigeria's economic stability and growth potential. The government plans to raise a total of $2 billion from local investors to address infrastructure-financing gaps, as market conditions have not been favorable for a eurobond offer. [Extracted from the article]

Italy is aiming for economic growth of 1.3%-1.4% next year, according to the Il Sole 24 Ore newspaper. The government, led by Premier Giorgia Meloni, is developing a fiscal proposal that aligns with the European Union's regulations and will present it in the coming weeks. Italy's GDP grew by 0.9% last year, and the European Commission predicts a similar rate for this year and a 1.1% expansion in 2025. The government is more optimistic, with the Finance Ministry Undersecretary stating that they expect a 1% increase in output this year. The goal is to reduce the country's deficit to below 3% within the next two years, aiming for a shortfall of 2.9% in 2026 to meet EU fiscal rules. [Extracted from the article]

Italy's government is confident that the country's economic growth will reach 1% this year, which is important for Prime Minister Giorgia Meloni to fulfill her debt-cut commitments with the European Union. Finance Ministry Undersecretary Federico Freni expressed this confidence at a recent forum, but did not provide details on the measures or calculations being discussed for the upcoming budget. Meloni's government aims to reduce Italy's deficit to below 3% within the next two years to address concerns about the country's large debts. The government's plans may involve cuts to public spending or reneging on promised giveaways. Additionally, Freni emphasized the need for the privatization of state-owned businesses to be carried out at the right time. [Extracted from the article]

Former Bank of Japan Governor Haruhiko Kuroda suggested that the central bank still has a significant amount of room to increase borrowing costs as part of its policy normalization process. Kuroda mentioned that the neutral interest rate for Japan could be less than 2%, with a short-term nominal rate potentially around 1.5% or lower. The neutral policy rate is the level of interest rates that neither restricts nor stimulates economic growth. Kuroda's remarks indicate that the Bank of Japan has a long way to go in raising interest rates, as its most recent rate hike only brought the key rate to 0.25%. The debate over the nominal neutral rate is gaining attention as the Bank of Japan moves towards normalization. The bank's current governor, Kazuo Ueda, has stated that it is challenging to determine the natural rate and that rates should be raised cautiously, considering the effects of each move. [Extracted from the article]

According to Howard Marks, co-chairman and co-founder of Oaktree Capital Management LP, US interest rates will likely settle between 3% and 4% after the Federal Reserve's rate reductions. Marks believes that rates will not go back to zero or a half or one percent. While there is disagreement about the pace of reductions, with some expecting a 50 basis point cut and others anticipating a quarter-point decrease, Marks believes that the emergency over inflation is over and that the economy is returning to normal. He also expressed his belief that China will not isolate itself globally and will rely on the rest of the world for growth. [Extracted from the article]

Barratt Developments Plc, a UK homebuilder, is preparing to increase its new homebuilding efforts after acquiring Redrow Plc and with the support of the UK's new Labour government's planning system overhaul. Despite a current slump in output, Barratt expects the combined group to deliver more new properties than the two businesses would individually. The UK government has proposed reforms to boost development, including the restoration of mandatory local housebuilding targets. Barratt is also implementing strategies such as offering more incentives and selling properties through bulk deals to rental investors to bolster sales. [Extracted from the article]

Oil prices rose after Libya declared force majeure at a key oilfield, leading to shutdowns that have reduced global supplies by nearly a million barrels per day. Brent crude futures reached over $77 a barrel, while West Texas Intermediate rose above $74. The Organization of Petroleum Exporting Countries (OPEC) and its allies had planned to add 180,000 barrels per day to supplies, but the political crisis in Libya may allow for additional production. Chinese data showing a contraction in factory activity and a residential slump raised concerns about the country's economic growth. [Extracted from the article]

Oil prices rose over 1% after Libya declared force majeure at the El-Feel oilfield, adding to the shutdowns that have already reduced global supplies by nearly a million barrels per day. This declaration came shortly after authorities in eastern Libya announced a complete halt to all oil output and exports. The Organization of Petroleum Exporting Countries (OPEC) and its allies are expected to gradually increase production by 180,000 barrels per day in the coming weeks, but the crisis in Libya may give them room to add even more barrels. Additionally, concerns about China's economic growth and signs of ample oil supply have contributed to volatility in the oil market. [Extracted from the article]

Oil prices are fluctuating as traders consider the planned increase in production from OPEC+ next month, economic challenges in China, and lower output in Libya. Brent for November is hovering around $77 a barrel, while West Texas Intermediate is trading below $74. Chinese data shows that factory activity contracted for a fourth month in August, raising concerns about the country's economic growth. Oil prices have been impacted by expectations of ample supply and signs of economic headwinds globally. OPEC+ has the option to pause or reverse its planned output hikes if necessary. [Extracted from the article]

Oil prices stabilized as traders considered the upcoming increase in production from OPEC+ against lower output in Libya and economic challenges in China. Brent crude traded around $77 a barrel, while West Texas Intermediate remained below $74. OPEC+ plans to add 180,000 barrels per day as they gradually restore production, but concerns about economic growth in China and declining diesel sales in India have raised doubts about oil demand. The oil market has experienced volatility in recent weeks, with prices being influenced by supply expectations and global economic conditions. [Extracted from the article]

Oil prices are falling due to indications that OPEC+ will increase production in October and concerns about economic challenges in China. Brent crude dropped to around $76 per barrel after a 2% decline on Friday, while West Texas Intermediate traded near $73. Chinese data revealed a contraction in factory activity for the fourth consecutive month in August, along with a deepening residential slump. These factors, along with expectations of ample supply and economic headwinds, have contributed to the decline in oil prices. OPEC+ has the option to adjust its output hikes if necessary, but concerns about Chinese demand persist. [Extracted from the article]

Oil prices are falling due to indications that OPEC+ will increase production in October and concerns about economic challenges in China. Brent crude dropped to around $76 a barrel, while West Texas Intermediate traded near $73. The Chinese economy is facing difficulties, with factory activity contracting for the fourth consecutive month and a decline in the residential sector. Despite the planned output hikes, OPEC+ has stated that it may reconsider if necessary, although the political crisis in Libya has potentially allowed for additional production. [Extracted from the article]

Oil prices are falling due to indications that OPEC+ will increase production in October and concerns about economic challenges in China. Brent crude dropped to around $76 per barrel, while West Texas Intermediate traded near $73. OPEC+ plans to add 180,000 barrels per day as it gradually restores production that has been halted since 2022. Chinese data showing a contraction in factory activity and a deepening residential slump have raised concerns about the country's ability to meet its economic growth target. Oil prices have been impacted by expectations of ample supply and economic headwinds, including in the US. OPEC+ has stated that it could adjust its output increases if necessary, but the political crisis in Libya, which has reduced production by half, may provide room for the alliance to add more barrels. [Extracted from the article]

Oil prices are falling due to indications that OPEC+ will increase production in October and concerns about economic challenges in China. Brent crude dropped to around $76 per barrel, while West Texas Intermediate traded near $73. OPEC+ plans to add 180,000 barrels per day as it gradually restores production that has been halted since 2022. Chinese data showing a contraction in factory activity and a deepening residential slump have raised concerns about the country's ability to meet its economic growth target. Oil prices have been impacted by expectations of ample supply and economic headwinds, including in the US. OPEC+ has stated that it could adjust its output increases if necessary, but the political crisis in Libya, which has reduced production by half, may provide room for the alliance to add more barrels. [Extracted from the article]

Oil prices are falling due to indications that OPEC+ will increase production in October and concerns about economic challenges in China. Brent crude for November is approaching $76 per barrel after a 2% drop on Friday, while West Texas Intermediate is trading near $73. Chinese data shows that factory activity has contracted for the fourth consecutive month in August, and a decline in residential activity has deepened, raising concerns about China's ability to meet its economic growth target. Oil prices have declined this year due to expectations of ample supply and economic challenges, and OPEC+ has the option to adjust its output increases if necessary. [Extracted from the article]

The European Central Bank (ECB) is likely to lower borrowing costs at its meeting next month, according to Governing Council member Madis Muller. Muller cited slower wage gains and other data that align with ECB projections as reasons for the potential rate cut. However, the future beyond September remains uncertain. Some policymakers, such as Isabel Schnabel and Joachim Nagel, caution that the fight against inflation is not over and that policy easing should not be automatic. Muller agrees that officials must keep an open mind about the policy path, but it is too early to determine the extent of further easing. [Extracted from the article]

Oil traders and analysts are divided on whether OPEC+ will proceed with its planned production increase next quarter. Twelve respondents in a Bloomberg survey predict that the cartel will go ahead, while 11 expect a postponement. Another five forecast a partial increase or one contingent on a lasting output shutdown in Libya. The market outlook has worsened due to concerns about faltering economic growth in China. Some delegates within OPEC+ expect the hikes to proceed, but others argue for a delay. The final decision on the production increase is expected to be announced soon. [Extracted from the article]

Indonesia's opportunity to benefit from its young and growing population may come to an end by 2041, according to the nation's statistics agency. The window for Indonesia to enjoy its "demographic bonus" of increased economic growth potential from a larger working-age population is predicted to close by 2041, with some provinces reaching their peak earlier. This highlights the need for the government to accelerate economic growth before the country's population ages. The incoming government plans to invest in education and health to improve the quality of human capital and achieve its goal of becoming a high-income country by 2045. [Extracted from the article]

According to data from the Australian Bureau of Statistics, a gauge of Australian monthly inflation in July showed a cooling trend, indicating that price pressures are easing. This supports the case for the Reserve Bank of Australia (RBA) to keep interest rates unchanged. The RBA's goal is to bring consumer prices back within its target range of 2%-3%. Unlike other central banks, the RBA has taken a slower approach to raising rates in order to preserve employment gains. The RBA is expected to maintain its tightening bias to control inflation expectations. [Extracted from the article]

Oil traders are divided on whether OPEC+ will proceed with its planned production increase next quarter. A Bloomberg survey found that 12 respondents predict the cartel will go ahead, while 11 expect a postponement. The increase, led by Saudi Arabia and Russia, is provisionally planned for October, but market outlook has worsened due to concerns about economic growth in China. Some analysts doubt that OPEC+ will increase supplies as scheduled, as oil prices have fallen and key members may struggle to cover government spending. A prolonged shutdown of production in Libya could potentially ease the path for the increase to proceed without significant impact on prices. [Extracted from the article]

Nigeria's economy experienced faster growth in the second quarter, driven by increased crude oil production. Gross domestic product expanded by 3.19% in the three months through June, matching economists' expectations. President Bola Tinubu's economic reforms have attracted foreign investment and the government aims for a growth rate of 3.8% this year and a return to 6% in the coming years. However, analysts predict that growth may slow in the second half of the year. The International Monetary Fund projects a 3.3% expansion for Nigeria's economy this year. [Extracted from the article]

According to Mario Centeno, a member of the European Central Bank's Governing Council, it is likely that the ECB will lower interest rates in September. Centeno made this statement at the Federal Reserve's annual conference in Jackson Hole. He also mentioned that the decision for October's meeting will depend on data trajectories rather than specific data points. Investors are anticipating a rate cut next month, as well as additional reductions later in the year. Centeno emphasized the need to ease monetary policy due to the region's stagnant economy and the goal of bringing down inflation. [Extracted from the article]

Philadelphia Fed President Patrick Harker has stated that it is time for the US central bank to begin cutting interest rates, emphasizing that the process should be "methodical." Harker, who does not have voting power this year, believes that once rate cuts begin, they should not be started and stopped abruptly. The Federal Reserve is expected to lower rates by a quarter percentage point at their next meeting in September, but the pace of future reductions remains uncertain. Harker also mentioned that he does not see a significant risk of a sudden increase in the unemployment rate and suggested that the end point of rate cuts could be around 3%. [Extracted from the article]

The Swedish government plans to increase spending next year in order to support the country's struggling economy. The decision comes as inflation slows down, providing more fiscal flexibility. The cabinet will allocate an additional 60 billion kronor ($5.9 billion) in 2025, with priorities including helping households regain purchasing power, investing in infrastructure, research, and education, and implementing policies to boost growth and productivity. This announcement follows the recent decision by the Riksbank to cut interest rates, as data indicates that the expected recovery in Sweden has not yet materialized. The finance ministry has revised its economic growth forecast for this year to 0.9% and predicts a 2.8% growth rate for next year. [Extracted from the article]

The Swedish government plans to increase spending by 60 billion kronor ($5.9 billion) in 2025, as slowing inflation allows for more fiscal flexibility to support the country's struggling economy. This marks a departure from the past year, during which the conservative-led government had to limit spending to avoid fueling price growth. The finance ministry has also revised its economic growth forecast for this year to 0.9%, down from the previous estimate of 1.4%. The announcement comes shortly after the Riksbank, Sweden's central bank, announced a second consecutive interest rate cut. [Extracted from the article]

According to a flash survey by HSBC Holdings Plc, India's economic activity slightly declined in August as new order growth for the manufacturing sector slowed. The manufacturing purchasing managers' index dropped to a three-month low, while the services purchasing managers' index rose slightly. The composite index fell to its lowest reading since May. Despite the slowdown in new order growth, the pace of expansion remained strong, indicating continued demand and favorable market conditions. India's gross domestic product is expected to grow over 7% in the current fiscal year, making it one of the fastest-growing major economies in the world. However, manufacturing firms reported a decline in outstanding business volumes for the first time in eleven months, and concerns over inflation and competition moderated business confidence. [Extracted from the article]

DNB Bank ASA has raised its forecast for Sweden's economic growth this year, citing lower-than-expected inflation as a factor that could lead to more monetary easing by the Riksbank. The bank predicts that the Swedish economy will begin to recover by the end of 2024, with a full-year gross domestic product expansion of 0.9%. However, recent data suggests that the expected recovery is not materializing, with manufacturing output contracting and economic output contracting in the second quarter. DNB expects the Riksbank to implement three more interest-rate cuts by March, with a terminal level for borrowing costs at 2.75% for this cycle. While DNB revised its growth estimate for the next two years slightly lower, it still predicts growth of 2.2% in both 2025 and 2026. [Extracted from the article]

Thailand's central bank has decided to keep its benchmark interest rate unchanged at 2.50% for the fifth consecutive meeting. This decision comes as the country's economy shows signs of growth and the new prime minister, Paetongtarn Shinawatra, formulates her policies. Despite the recent economic growth, Thailand's economy still lags behind its neighboring countries. The central bank has maintained the interest rate since late 2023, even though inflation has remained below the bank's target range. Some economists predict that looser monetary policies may be implemented in the fourth quarter, especially as the US Federal Reserve is expected to ease its policies. [Extracted from the article]

Poland's National Bank Governor, Adam Glapinski, has stated that a discussion on adjusting monetary policy before 2026 cannot be ruled out if there is certainty about a permanent decline in inflation towards the central bank's target. Glapinski's comments come after his previous statement that the Monetary Policy Council is unlikely to cut rates before 2026 due to uncertainty about inflation forecasts. The council's decisions will depend on factors such as wage growth, consumption, the economic situation of Poland's trading partners, and energy prices. Glapinski also mentioned that the risk of high inflation returning across Europe and the US is slowly disappearing, and expectations of rate cuts have increased. [Extracted from the article]

Poland's National Bank Governor, Adam Glapinski, has stated that a discussion on adjusting monetary policy may occur before 2026 if there is certainty about a sustained decrease in inflation. This statement follows Glapinski's previous remarks that a rate cut is unlikely before 2026 due to uncertainty surrounding inflation forecasts. He also emphasized the importance of Poland's economic growth prospects, particularly in relation to its neighboring trading partners, such as Germany. [Extracted from the article]

South Africa's Transport Minister, Barbara Creecy, has announced plans to establish a framework for private companies to utilize state-owned port and rail infrastructure within the next six months. This move aims to address the country's severe logistics constraints, which have negatively impacted economic growth. The framework will guide the government's collaboration with third parties and enable interested companies to submit proposals. South Africa's rail network and ports have suffered from underinvestment, corruption, and vandalism, resulting in significant economic losses. The government approved the principle of third-party participation in port and rail last year, and the forthcoming framework will outline the specifics of this involvement. [Extracted from the article]

Thailand's central bank is expected to maintain its policy rate at a decade high, despite pressure for rate cuts due to uncertainty surrounding a $14 billion stimulus package. The new prime minister, Paetongtarn Shinawatra, has expressed a desire to lift the country out of an "economic crisis," but has also questioned the effectiveness of the stimulus promised by her predecessor. The government may lean on the Bank of Thailand to lower borrowing costs, although the central bank's autonomy has been criticized as an obstacle to economic recovery. The economy grew 2.3% in the second quarter, but domestic demand has decelerated, leading to calls for rate cuts. The central bank is expected to leave its benchmark rate unchanged, although one economist predicts a quarter-point cut. The new prime minister's approach to central bank independence is being closely watched, as her father, Thaksin Shinawatra, has previously clashed with the central bank. The government may also seek to exert more control over the central bank by appointing its nominee as the next chairman. The tensions between the government and the central bank are likely to persist until the central bank begins to normalize its policies. [Extracted from the article]

Angola is facing financial difficulties that may result in the delay of paying state workers' wages for a second consecutive month. The country's finance minister, Vera Daves de Sousa, explained that the funding gap is caused by mismatched revenue collection and expenditure, as well as ongoing debt pressures. Most of Angola's revenue is used to service its debt, leaving little to meet other obligations. The government is exploring both long-term structural changes and short-term measures to address the issue and minimize constraints on its citizens. [Extracted from the article]

Indonesia President Joko Widodo, also known as Jokowi, highlighted his achievements in economic growth, infrastructure development, poverty reduction, and onshore processing of raw materials in his final annual State of the Nation address. He emphasized his commitment to "Indonesia-centric development" and the creation of jobs through investments in critical minerals. Despite facing opposition from other countries, Jokowi expressed his determination to continue moving forward. During his tenure, Indonesia maintained steady economic growth, controlled inflation, reduced extreme poverty, and improved employment and child development rates. [Extracted from the article]

South Africa's Chamber of Commerce has called on the new multi-party government to take advantage of the slight recovery in business confidence and boost economic growth and investment. Business sentiment, as measured by the South African Chamber of Commerce and Industry, rose to 109.1 in July from 107.8 in May. The formation of a more centrist alliance after the elections has positively impacted the business climate, and investors are hopeful for key reforms and increased economic growth. However, the country still faces challenges such as energy constraints, crime, and corruption. [Extracted from the article]

Poland's economy grew faster than expected in the second quarter, with a 3.2% expansion compared to the first quarter's 2%. This growth has reduced pressure on the central bank to quickly cut interest rates. The Polish central bank has been cautious about lowering borrowing costs due to concerns over inflation. However, Prime Minister Donald Tusk has criticized the central bank's monetary policy for hindering economic growth. While the economy is accelerating, there are concerns about the reliance on consumption-led growth and signs of weakness in the industry and export sectors. [Extracted from the article]

South Africa's Chamber of Commerce has called on the country's new multi-party government to take advantage of the recent increase in business confidence and work towards boosting economic growth and investment. The Chamber of Commerce reported a slight recovery in business confidence over the past two months, with a sentiment gauge rising to 109.1 in July from 107.8 in May. The formation of a more centrist alliance after the May elections has positively impacted business sentiment, and investors are hopeful for key reforms and improved economic growth under the new government. However, the Chamber of Commerce emphasized that economic growth in South Africa still remains inadequate and needs to accelerate. [Extracted from the article]

Investor confidence in Germany's economy has dropped to its lowest level since January, according to a gauge compiled by the ZEW institute. The decline in confidence is attributed to disappointing economic data and recent turmoil in global stock markets. The president of ZEW, Achim Wambach, stated that the economic outlook for Germany is deteriorating due to high uncertainty driven by factors such as ambiguous monetary policy, disappointing US business data, and concerns over the conflict in the Middle East. Recent figures have shown a gloomy picture for Germany's economy, with unexpected shrinkage in output and weak exports. Economists predict that Germany may experience little to no economic expansion this year. [Extracted from the article]

Investor confidence in Germany's economy has reached its lowest level since January, according to a report by the ZEW institute. The report cites disappointing economic data and recent stock market turmoil as contributing factors. The decline in confidence is attributed to high uncertainty driven by ambiguous monetary policy, disappointing US business data, and concerns over escalating conflicts in the Middle East. Recent figures have shown a gloomy outlook for Germany's economy, with a contraction in output and weak exports. Economists predict little to no economic expansion for Germany this year. [Extracted from the article]

New Zealand's concrete production has dropped to its lowest level in over eight years, indicating a slowdown in construction. Output fell by 11% to 3.92 million cubic meters in the 12 months leading up to June, which is the lowest annual reading since early 2016, excluding the period of the Covid-19 lockdown. This decline in construction activity suggests that the country's economic growth may have stalled in the second quarter, potentially leading to a triple-dip recession. Builders and companies are expecting further deterioration in the economy and are reducing investment in property. [Extracted from the article]

Colombian inflation has slowed more than expected, reaching its lowest level since 2021. Consumer prices rose 6.86% in July compared to the previous year, down from 7.16% in June. This supports President Gustavo Petro's call for faster monetary easing. However, inflation is still more than double the central bank's target of 3%. President Petro has urged policymakers to increase the pace of monetary easing to stimulate economic growth. Analysts predict that the central bank may accelerate interest rate cuts at its September 30 meeting. [Extracted from the article]

(Bloomberg) -- Malaysia is setting up a program to tap state-linked funds to make 120 billion ringgit ($27 billion) in direct investments locally in the next five years to "catalyze growth in key economic sectors," the finance ministry said on Thursday.Six state funds, including Khazanah Nasional Bhd., Permodalan Nasional Bhd., Kumpulan Wang Persaraan Diperbadankan and the Employees Provident Fund, will be making the investments, the ministry said in a statement.©2024 Bloomberg L.P.By Ram AnandReported by Author [Extracted from the article]

Serbia is expected to keep its interest rates steady after two consecutive cuts, in order to assess the impact of these cuts on the economy. Inflation in Serbia has slowed down significantly, but core inflation remains high. Other countries in the region, such as Romania and Hungary, are taking advantage of low inflation to implement further interest rate cuts. Serbia is also facing currency appreciation pressures on the dinar, and the central bank has been buying euros to maintain a stable exchange rate. [Extracted from the article]

The Philippines' economy grew by 6.3% in the second quarter of the year, indicating the potential for even faster growth if borrowing costs were reduced to support consumption. However, high inflation and interest rates have hindered the country's growth performance. Consumption, which makes up over 70% of output, remained steady at 4.6% growth, while household spending fell slightly. The central bank may consider reducing its benchmark interest rate to stimulate consumption and investment, but the timing is uncertain. [Extracted from the article]