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Author: admin (Kendrick Williams)
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SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
The value of exports from China in dollar terms January and February rose 7.1 percent from the same period last year, the government reported.
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TOP TREND 2024, EV GO FU: BYD CUTS EV PRICES IN CHINA
BYD, one of China’s largest makers of electric vehicles (EVs), has again cut the sticker price of the basic version of its Seagull model amid an EV price war in the country.
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RETAILERS’ SHARE PRICES FALL ON WEAKER SALES AND FORECASTS
Major retailers Foot Locker, Hugo Boss, Nordstrom, and Victoria’s Secret all saw their share prices sag after they disappointed analysts’ sales estimates.
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EGYPT HIKES RATES, TANKING CURRENCY AND TEEING UP IMF DEAL
On 6 March, Egypt’s central bank jacked its key interest rate by six percentage points, the largest hike on record, bringing the rate to 27.25 percent in hopes of ending what Bloomberg has called “the worst economic crisis in decades.”
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JAPAN’S CONSUMER SPENDING DOWN FOR 11TH CONSECUTIVE MONTH
Japanese household spending sank by 6.3 percent in January, year on year, the largest monthly slide since February 2021.