Browsing: Business

South Korea’s corporate financing surged by 57.6% in September, driven by strong bond sales. Companies raised 31.6 trillion won, while equity issues declined significantly.

Emirates has placed a firm order for five additional Boeing 777 freighters to meet rising cargo demand, with deliveries expected between 2025 and 2026. This will boost its total fleet to 21 units.

The WTO will collaborate on key trade events during COP29 in Baku, supporting climate finance initiatives and high-level discussions on trade’s role in sustainable development.

The UAE is projected to see GDP growth of 3.3% in 2024 and 4.1% in 2025, driven by a robust non-oil sector, according to the World Bank’s latest MENA Economic Update released today.

Middle East sustainable bond issuances reached $16.7 billion by September 2024, an 18% drop compared to last year, according to an S&P Global Ratings report

Russia’s GDP grew by 4.2% in the first eight months of 2024, driven by expanding international trade and stronger economic partnerships with ‘friendly’ nations.

OPEC has revised its 2024 global oil demand growth forecast down by 106,000 barrels per day, citing weaker-than-expected demand in non-OECD regions, impacting overall oil demand.

South Korea’s ICT exports surged for the 11th month, reaching $22.4 billion in September, driven by semiconductor sales and strong demand for AI technology. ICT trade surplus hit $9.88 billion.

WTO forecasts global merchandise trade growth of 2.7% in 2024 and 3.0% in 2025, citing easing inflation, declining interest rates, and risks from geopolitical tensions.

The IMF has reduced member borrowing costs by 36%, cutting annual surcharges by $1.2 billion. Five countries, including Argentina and Egypt, will benefit from the new policy starting November 1.