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SNB move will accentuate bond-equity divergence

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INTERNATIONAL

The move mainly aims to pre-empt the widely anticipated launch of a sovereign quantitative easing (QE) programme by the ECB on January 22. However, it will accentuate divergences…

Global manufacturing is heading into recession

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INTERNATIONAL

Purchasing managers’ indices (PMIs) show that activity has slowed abruptly this year. Business conditions will deteriorate further amid looming energy shortages in Europe…

Prospects for manufacturing in 2019

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PROSPECTS 2019

Prospects for manufacturing in 2019.

Kenya finance bill reflects fiscal consolidation drive

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KENYA

President William Ruto wants to use this bill to increase government revenue to help manage the difficult fiscal situation. However, the bill’s critics warn it may aggravate an…

Dependency ratios overstate economic impacts of ageing

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INTERNATIONAL

The standard measure of the challenge -- the ratio of the non-working-age population to those of working age -- can vary considerably from the actual number of non-workers to…

Australia’s coal sector will suffer in the long term

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AUSTRALIA

Australia is a major exporter of coal, but revenues from sales abroad are expected to fall by 32% in the 2020-21 financial year due to lower volumes and weaker prices, with only a…

US corporate debt distress will rise

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UNITED STATES

US corporate debt default and bankruptcy stress is at its most intense for more than a decade in the face of higher interest rates, elevated inflation and a slowing economy. There…

Brexit vote will keep global markets volatile

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INTERNATIONAL

The UK vote on June 23 to leave the EU ('Brexit') startled global financial players, putting pressure on leading central banks to stabilise markets and keep bank funding flowing…

EM corporate debt is key risk to global markets

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INTERNATIONAL

The IMF's warning, contained in its Global Financial Stability Report (GFSR), shows concerns for the vulnerabilities posed by the build-up of EM corporate debt, especially…

Pressure rises on Hungary’s central bank to hike rates

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CENTRAL EUROPE

The long-anticipated change in ECB policy is contributing to the recent tightening in financial conditions. The credibility of central banks in Central Europe (CE), where…