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LONDON: The Bank of England (BoE) should not cut back on stimulus too early, a top economist who will soon join the BoE’s rate-setting committee said, underscoring a divide among UK policymakers about how to respond to rising inflation.
HONG KONG: Surging house prices across much of the globe are emerging as a key test for central banks’ ability to rein in their crisis support.
NEW YORK: In a move to kickstart the energy transition globally, the Ikea Foundation and the Rockefeller Foundation have announced that they will each donate US$500mil (RM2.08bil) to support distributed renewable generation projects in developing nations.
TENAGA Nasional Bhd received it, so did Magnum Bhd and Aeon Credit Service (M) Bhd. UEM Sunrise Bhd too was given one, while its sister company, UEM Edgenta Bhd, could not escape either.
Don’t expect Australia to join the growing ranks of countries issuing debt to fund environmental objectives any time soon.
WELLINGTON: New Zealand has projected faster economic growth and smaller deficits in its annual budget, allowing prime minister Jacinda Ardern to boost efforts to tackle inequality even as the government keeps a lid on debt.
LONDON: When much of the global economy locked down last year, insurers, facing estimated losses of more than US$100bil (RM410bil) globally, reached straight for their red pens to strike pandemic cover from all new business policies.
NEW YORK: The unprecedented oil inventory glut that amassed during the coronavirus pandemic is almost gone, underpinning a price recovery that’s rescuing producers but vexing consumers.
Consumption seen returning to pre-Covid levels by July
Success in containing pandemic key to economic progress