economic

Economic Commission for Africa (ECA)’s chief and Cameroon’s Finance Minister review pertinence of financing, vaccines, broadband, energy, jobs, industrial clustering in COVID times

UN Under-Secretary General and Executive Secretary of the United Nations Economic Commission for Africa (ECA) – Vera Songwe, and Cameroon’s Minister of Finance – Louis Paul Motaze, discussed, yesterday, the country’s need to move fast with innovative financing, industrial clustering and digital transformation while keeping up the fight against COVID-19 especially through massive vaccination. This, against the backdrop of an extraordinary summit of CEMAC Heads of State, chaired on the same day by Cameroon’s President Paul Biya on the theme “Review of the Economic, Monetary and Financial Situation in the CEMAC Zone and Analysis of its Prospects.”

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IsDB Institute’s Global Forum to Discuss Prospects of Islamic Finance in Economic Recovery Post Covid-19

Senior development practitioners and experts are scheduled to participate in the 15th IsDB Global Forum on Islamic Finance to discuss unleashing the potentials of Islamic finance to spur economic recovery post Covid-19 pandemic.

The Islamic Development Bank (IsDB) Institute is organizing the forum as a virtual side event to be held on 28 August 2021, in conjunction with the 2021 Annual Meeting of the IsDB Group. The theme of the forum is “The Role of Islamic Finance in Post-Covid-19 Economic Recovery of IsDB Member Countries.”

In the wake of the global economic upheaval triggered by the Covid-19 pandemic, the forum

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There’s a looming economic risk that could trigger the next financial crisis

by Garth Heutel, Georgia State University; Givi Melkadze, Georgia State University, and Stefano Carattini, Georgia State University

In 2008, as big banks began failing across Wall Street and the housing and stock markets crashed, the nation saw how crucial financial regulation is for economic stability – and how quickly the consequences can cascade through the economy when regulators are asleep at the wheel.

Today, there’s another looming economic risk: climate change. Once again, how much it harms economies will depend a lot on how financial regulators and central banks react.

Climate change’s impact on economies

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Wall Street notches record closing high on earnings, economic strength

NEW YORK, July 23 (Reuters) – Wall Street gained ground for the fourth straight session on Friday, extending a rally that pushed all three major U.S. stock indexes to record closing highs as upbeat earnings and signs of economic revival fueled investor risk appetite.

The S&P 500, the Nasdaq and the Dow all notched weekly gains.

“We see a continuation of the last couple days. It’s roller coaster in reverse. We did the drop first, and we’ve been climbing back to the top ever since,” said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance in Charlotte, North Carolina.

Growth

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Portman Letter to Wall Street Journal Highlights Economic Benefits of Bipartisan Infrastructure Proposal


July 14, 2021

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Portman Difference

Today in the Wall Street Journal, Senator Portman wrote a letter to the editor highlighting the bipartisan infrastructure proposal he is helping to write and how it will help the economy grow. This is in response to a Wall Street Journal article arguing that building new highways will not benefit the economy. As Senator Portman notes, the bipartisan infrastructure proposal is not just about improving our highway system, which will lead to greater economic efficiency, but also about broad investment in ports, freight rail, bridges, and other critical infrastructure like broadband. This approach

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Wall Street rises ahead of key economic data this week; AMC soars

The latest leg of a surge in so-called “meme stocks” stood out on Wall Street on Wednesday, with the main stock indexes rising slightly ahead of closely watched economic data this week.

The technology sector rose 0.8%, providing the biggest boost to the benchmark S&P 500, while communication services and materials eased.

A weekly unemployment report and May private payrolls data on Thursday will be followed by monthly jobs numbers on Friday.

Investors are closely tracking the labor market’s recovery after an unexpected slowdown in jobs growth in April fanned inflation worries.

The benchmark S&P 500 has recovered most of

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With Earnings Soaring, Wall Street Banks See Economic Boom Ahead

Strength in the banks’ investing, lending and trading businesses added to the euphoria. All three reported robust revenues across multiple lines of business, driven by a combination of active and rising markets, a flurry of new mortgage activity and the boom in special-purpose acquisition companies, or SPACs. Corporate merger and acquisition activity also marked an all-time high by dollar value.

Goldman — a dominant player in corporate advisory services and in markets — reported a doubling of revenue to $17.7 billion, from $8.7 billion, thanks to double-digit percentage gains in

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Wall Street Rebounds on Strong Economic Data; Tech Earnings Take Center Stage

Bloomberg

Saudi Arabia in Talks to Sell Aramco Stake to Global Energy Firm

(Bloomberg) — Saudi Arabia’s crown prince said the kingdom is in talks to sell a 1% stake in state oil giant Saudi Aramco to a “leading global energy company” as he forecast a rebounding economy in the aftermath of the coronavirus pandemic.The kingdom is looking at the potential sale — which could be worth about $19 billion, based on the company’s market value — as a way to lock in customer demand for the country’s crude, Crown Prince Mohammed Bin Salman said in a rare interview on

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Wall Street rallies on strong economic data; tech in focus

(Reuters) -U.S. stocks rallied on Friday, driving the S&P 500 to a near-record closing high, after factory data and new home sales underscored a booming economy while megacap stocks rose in anticipation of strong earnings reports next week.

The bounceback follows a sell-off on Thursday when reports that U.S. President Joe Biden plans to almost double the capital gains tax spooked investors. Analysts dismissed the slide as a knee-jerk reaction and pointed to the strong outlook.

As the three major Wall Street indexes surged, the CBOE market volatility or “fear” index plunged almost 10% in a sign of tumbling investor

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