NEWSLETTER
Thursday / September 29Sep 29
Friday / August 19
German economy
The economic outlook for Germany, Europe's largest economy, is gloomy due to energy price rises and supply chain disruptions, the Finance Ministry said in its August monthly report published Friday.
"The outlook for the further development (of the economy) is currently noticeably gloomy," the ministry said in the report, adding that it was marked by "a high degree of uncertainty".
"The significantly lower gas supplies from Russia, the persistently high price increases for energy and, increasingly, other goods, as well as the longer-than-expected supply chain disruptions in connection with China's zero-COVID policy, are weighing heavily on the economy's development," it said.
The government will present updated economic projections on Oct. 12, the ministry added.
Korean tensions
North Korean leader Kim Jong Un's sister Kim Yo Jong said on Friday her country will never deal with an "audacious" South Korean initiative, which would boost the North's economy in exchange for giving up nuclear weapons.
South Korea's President Yoon Suk-yeol said in May South Korea was "prepared to work with the international community to present an audacious plan that will vastly strengthen North Korea's economy and improve the quality of life for its people."
Marking his 100th day in office, Yoon on Wednesday repeated his willingness to provide phased economic aid to North Korea if it ended nuclear weapons development and began denuclearisation.
Kim Yo Jong said in a KCNA statement that such a plan was ignorant and "the height of folly far from realisation", adding that the premise of "if the North Korea take denuclearisation measures" itself is wrong.
Ukraine situation
The U.N. chief and the presidents of Turkey and Ukraine on Thursday discussed ways to end Kyiv's conflict with Russia and secure Europe's largest nuclear power station, which has come under shelling at the front lines.
U.N. Secretary-General Antonio Guterres said he was gravely concerned by the situation at the Zaporizhzhia nuclear plant and called for military equipment and personnel to be withdrawn.
Elsewhere in the region, at least four explosions hit near a major Russian military airport on the Moscow-controlled Crimean peninsula.
The sources said Thursday's explosions were near Russia's Belbek military airport, north of the Black Sea fleet's headquarters in Sevastopol.
Sevastopol governor Mikhail Razvozhayev, writing on Telegram, said Russian anti-aircraft forces downed a Ukrainian drone and no damage occurred.
Biden to send more money
US President Joe Biden's administration is readying about $800 million of additional military aid to Ukraine and could announce it Friday.
Wall Street
The S&P 500 and Nasdaq Composite rose slightly higher Thursday. The S&P 500 rose 0.23% to settle at 4,283.74, while the Nasdaq inched 0.21% higher to 12,965.34. The Dow Jones Industrial Average added 0.06%, or 18.72 points, to 33,999.04.
Thursday brought the Dow and S&P 500 into positive territory for the week, up 0.7% and 0.08%, respectively. The Nasdaq is down 0.63%.
Data released Thursday provided clues into the state of both the jobs and housing markets. Initial jobless claims fell to 250,000 for the week ended Aug. 13, while existing home sales dropped nearly 6% in July.
The economic outlook for Germany, Europe's largest economy, is gloomy due to energy price rises and supply chain disruptions, the Finance Ministry said in its August monthly report published Friday.
"The outlook for the further development (of the economy) is currently noticeably gloomy," the ministry said in the report, adding that it was marked by "a high degree of uncertainty".
"The significantly lower gas supplies from Russia, the persistently high price increases for energy and, increasingly, other goods, as well as the longer-than-expected supply chain disruptions in connection with China's zero-COVID policy, are weighing heavily on the economy's development," it said.
The government will present updated economic projections on Oct. 12, the ministry added.
Korean tensions
North Korean leader Kim Jong Un's sister Kim Yo Jong said on Friday her country will never deal with an "audacious" South Korean initiative, which would boost the North's economy in exchange for giving up nuclear weapons.
South Korea's President Yoon Suk-yeol said in May South Korea was "prepared to work with the international community to present an audacious plan that will vastly strengthen North Korea's economy and improve the quality of life for its people."
Marking his 100th day in office, Yoon on Wednesday repeated his willingness to provide phased economic aid to North Korea if it ended nuclear weapons development and began denuclearisation.
Kim Yo Jong said in a KCNA statement that such a plan was ignorant and "the height of folly far from realisation", adding that the premise of "if the North Korea take denuclearisation measures" itself is wrong.
Ukraine situation
The U.N. chief and the presidents of Turkey and Ukraine on Thursday discussed ways to end Kyiv's conflict with Russia and secure Europe's largest nuclear power station, which has come under shelling at the front lines.
U.N. Secretary-General Antonio Guterres said he was gravely concerned by the situation at the Zaporizhzhia nuclear plant and called for military equipment and personnel to be withdrawn.
Elsewhere in the region, at least four explosions hit near a major Russian military airport on the Moscow-controlled Crimean peninsula.
The sources said Thursday's explosions were near Russia's Belbek military airport, north of the Black Sea fleet's headquarters in Sevastopol.
Sevastopol governor Mikhail Razvozhayev, writing on Telegram, said Russian anti-aircraft forces downed a Ukrainian drone and no damage occurred.
Biden to send more money
US President Joe Biden's administration is readying about $800 million of additional military aid to Ukraine and could announce it Friday.
Wall Street
The S&P 500 and Nasdaq Composite rose slightly higher Thursday. The S&P 500 rose 0.23% to settle at 4,283.74, while the Nasdaq inched 0.21% higher to 12,965.34. The Dow Jones Industrial Average added 0.06%, or 18.72 points, to 33,999.04.
Thursday brought the Dow and S&P 500 into positive territory for the week, up 0.7% and 0.08%, respectively. The Nasdaq is down 0.63%.
Data released Thursday provided clues into the state of both the jobs and housing markets. Initial jobless claims fell to 250,000 for the week ended Aug. 13, while existing home sales dropped nearly 6% in July.
