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OPEC+ imposes deep production cuts in a bid to shore up prices
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OPEC+ imposes deep production cuts in a bid to shore up prices

Oil prices have fallen to roughly $80 from over $120 in early June amid growing fears about the prospect of a global economic recession. Bloomberg | Getty Images A group of some of the world’s most powerful oil producers on Wednesday agreed to impose deep output cuts, seeking to spur a recovery in crude prices...

OPEC+ imposes deep production cuts in a bid to shore up prices
Post

OPEC+ imposes deep production cuts in a bid to shore up prices

Oil prices have fallen to roughly $80 from over $120 in early June amid growing fears about the prospect of a global economic recession. Bloomberg | Getty Images A group of some of the world’s most powerful oil producers on Wednesday agreed to impose deep output cuts, seeking to spur a recovery in crude prices...

Climate reparations ethical but not best fix: Climatologist
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Climate reparations ethical but not best fix: Climatologist

Displaced people in floodwater after heavy monsoon rain at Usta Mohammad city, in the Jaffarabad district of Balochistan province, on Sept. 18, 2022. Thirty-three million people have been affected by the floods in Pakistan, which started with the arrival of the monsoon in late June. Fida Hussain | Afp | Getty Images Calls for climate...

N.Korea fires fourth missile in a week as South flexes military muscle
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N.Korea fires fourth missile in a week as South flexes military muscle

A man watches a television screen showing a news broadcast with file footage of a North Korean missile test, at a railway station in Seoul on September 28, 2022. Jung Yeon-je | AFP | Getty Images North Korea fired two short-range ballistic missiles toward the sea off its east coast on Saturday, hours before South...

Analysts discuss U.S. interest rates, dollar, Asian Financial Crisis
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Analysts discuss U.S. interest rates, dollar, Asian Financial Crisis

The world economy may be facing conditions seen during the 1997 Asian Financial Crisis — aggressive U.S. interest rate hikes and a strengthening U.S. dollar. But history is unlikely to be repeated, analysts said, though they caution that some economies in the region are particularly vulnerable to currency devaluations reminiscent of the time. related investing...

Australia, South Korea stocks dip
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Australia, South Korea stocks dip

An electronic board displays stock information at the Australian Securities Exchange, operated by ASX Ltd., in Sydney, Australia, on Tuesday, Feb. 6, 2018. Brendon Thorne | Bloomberg via Getty Images Asia-Pacific shares slipped on Friday as investors continue to weigh the Federal Reserve’s aggressive stance. In Australia, the S&P/ASX 200 opened slightly higher but gave...

Fed hike, Bank of Japan, interest rates, currencies
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Fed hike, Bank of Japan, interest rates, currencies

Fed hike likely to keep Asian risk assets under pressure, JPMorgan says Asian risk assets, especially export-oriented companies, will remain under pressure in the short term following the Fed’s rate hike, according to Tai Hui, chief APAC market strategist at JPMorgan Asset Management. Tai added that a strong U.S. dollar is likely to persist, but...

Asia’s developing economies are set to grow faster than China’s
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Asia’s developing economies are set to grow faster than China’s

Chinese laborers working at a construction site at sunset in Chongqing, China. Getty Images Asia’s developing economies may be showing signs of recovery, but the Asian Development Bank (ADB) cut its growth forecasts for them yet again — thanks to China’s prolonged zero-Covid policy. But this will be the first time in more than three...

Fed interest rates, Wall Street, currencies, yields
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Fed interest rates, Wall Street, currencies, yields

The Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Monday, Nov. 30, 2020. Toru Hanai | Bloomberg via Getty Images Futures in the Asia-Pacific are set to open lower Wednesday, following Wall Street’s negative lead as investors await the Federal Reserve’s interest rate decision. The Nikkei futures contract...