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Asian stocks follow Wall St higher on welcome US inflation data
Asian markets extended a global rally Thursday after below-forecast US inflation provided a much-needed shot of relief to investors and revived hopes for interest rate cuts this year.Strong earnings from Wall Street banking titans and a ceasefire deal between Israel and Hamas added to the optimistic mood on trading floors.Still, there remains a certain amount …
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Chinese give guarded welcome to spending subsidies
Beijing is hoping subsidies for rice cookers, microwave ovens and smartphones can boost sluggish spending and help the country weather an economic storm from incoming US president Donald Trump.Policymakers have struggled to get China’s billion-strong army of consumers to inject cash into the economy as a prolonged real estate crisis weighs on confidence.And last week, …
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World Bank plans $20 bn payout for Pakistan over coming decade
The World Bank plans to loan cash-strapped Pakistan $20 billion over the coming decade to nurture its private sector and bolster resilience to climate change, Prime Minister Shehbaz Sharif said.Pakistan came to the brink of default in 2023, as a political crisis compounded shock from the global economic downturn and drove the nation’s debt burden …
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