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US will make up to $7 billion in loans to help Trump ally Milei tap Argentina’s oil and minerals
TOP STORY

US will make up to $7 billion in loans to help Trump ally Milei tap Argentina’s oil and minerals

The Trump administration wants to put billions of dollars into Argentina’s energy and mining industries. It announced plans Wednesday to make up to $7 billion available for loans to projects through next year. The money would help companies buy American equipment and hire U.S. contractors to build railways, pipelines and ports. Washington wants energy and critical minerals closer to home and less reliance on China, while Argentine President Javier Milei, a close Trump ally, is counting on exports to revive the economy and bring in dollars. The plan would help connect Argentina’s mineral deposits and shale fields to ports on its Atlantic coast.

Finance

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The Straits Times12h ago

Global government bond yields on brink of 4%

Global government bond yields near 4%, driven by economic data and inflation, raising borrowing costs and impacting stocks worldwide. Read more at straitstimes.com.

Global government bond yields on brink of 4%

Economics

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Global agencies see India’s growth ringing louder; raise FY27 GDP forecasts on upbeat demand and investment sentiment
The Economic Times16h ago

Global agencies see India’s growth ringing louder; raise FY27 GDP forecasts on upbeat demand and investment sentiment

Indias FY27 growth outlook has received upgrades from the OECD, Asian Development Bank, S&P Global Ratings and Fitch Ratings, with forecasts now ranging from 6.9% to 7.1% amid strong domestic demand, investment, services and exports. The revisions follow 7.8% GDP growth in the June quarter, though institutions flagged risks from geopolitical uncertainty, weather disruptions and rising inflation, with some expecting the RBI to raise interest rates.

Reuters21h ago

ECB not seeing any big wage response to surging inflation

The European Central Bank is not seeing significant wage pressures in response to this year's ​energy-driven inflation surge, the bank's chief economist said on Wednesday, downplaying ‌concerns that rapid price growth was at risk of getting embedded.

ECB not seeing any big wage response to surging inflation
The Economic Times12h ago

China 'Busan Agreement' extended till January 10

US Treasury Secretary Scott Bessent announced the extension of the trade truce with China until January 10. This agreement allows more time for both nations to pursue a broader economic deal. Bessent also discussed the growing economic pressure on Iran and potential outcomes for the conflict. Furthermore, he highlighted discussions on artificial intelligence and proposed a safety notification mechanism.

China 'Busan Agreement' extended till January 10
The Atlanta Journal-Constitution12h ago

Australia's prime minister criticizes OpenAI over government website security breach

Australian Prime Minister Anthony Albanese says he is extremely concerned and disappointed at an OpenAI security breach of a government website, which the artificial intelligence company took too long to reveal. Albanese made the breach public on Thursday following a telephone conversation with OpenAI chief executive Sam Altman. Both men are currently in New York City to address the United Nations. An OpenAI agent had infiltrated an Australian health department website on July 18. OpenAI said in a statement that during a review of activity involving several Australian government departments, the company discovered “our models took actions we did not intend.”

Australia's prime minister criticizes OpenAI over government website security breach

The AI Race

China 'Busan Agreement' extended till January 10The Economic Times

China 'Busan Agreement' extended till January 10

US Treasury Secretary Scott Bessent announced the extension of the trade truce with China until January 10. This agreement allows more time for both nations to pursue a broader economic deal. Bessent also discussed the growing economic pressure on Iran and potential outcomes for the conflict. Furthermore, he highlighted discussions on artificial intelligence and proposed a safety notification mechanism.

Global Economy

ECB not seeing any big wage response to surging inflationReuters

ECB not seeing any big wage response to surging inflation

The European Central Bank is not seeing significant wage pressures in response to this year's ​energy-driven inflation surge, the bank's chief economist said on Wednesday, downplaying ‌concerns that rapid price growth was at risk of getting embedded.