Money Talks

US President Joe Biden has dodged a complete disaster as his Democratic Party fared better than expected in this week’s midterm elections. The job isn’t done. Control of the Senate is still up for grabs. But it looks increasingly likely now that the White House will be able to push its economic and social agenda with a lot less opposition than originally feared. Paolo Montecillo reports.

Taha Arvas joined us on the studio for the details. He is adjunct professor of finance at Bogazici University.

#UnitedStates #Midterm #Election

Proceedings in COP-27 climate summit in Egypt have delivered warnings that by now have become all-too familiar: that global temperatures are on track to blow past official targets. And that means more severe episodes of cold and hot weather, bigger and more destructive storms, and sea levels that threaten to displace millions of vulnerable communities. Delegates agree that urgent action is needed to end the global economy's reliance on fossil fuels that got us where we are. It'll be an expensive endeavour. The question now is: how exactly will that money be spent, and who should pay for it all.

Niklas Hagelberg joined us from Egypt for the details. He is climate change coordinator at UNEP.

#Egypt #COP27 #Environment

Shares of Chinese property developers listed in Hong Kong surged at the open following a local media report that a number of additional measures will be introduced to support the real estate market's recovery. The move is the strongest sign yet that Chinese policy makers are easing a years-long clampdown on the property sector, one of the biggest drags on the world's second-largest economy along with the nation's COVID-Zero policies.

Stephen Innes joined us for the details. He is managing partner at SPI Asset Management in Bangkok.

#China #RealEstate #Property

Global markets are green across the board to end the week amid optimism over the prospects of the world's two largest economies. In the US, official data showed consumer prices rose less than expected in October. Investors are taking this as a sign that the Federal Reserve will start slowing down the interest rate hikes that have been choking economic activity.

Craig Erlam joined us for the details. He is a senior market analyst at OANDA in London.

#Markets #WallStreet #Inflation

Global markets are in a bit of a holding pattern as investors wait for the results of midterm elections in the US. The battle for control of both houses of Congress is being seen as a referendum on President Joe Biden and his economic policies.

Naeem Aslam joined us for the details. He is the chief market analyst at AvaTrade in the UK.

#Markets #Midterm2022 #Election

Stocks in the Asia-Pacific traded mostly higher early as investors digest the Bank of Japan's summary of opinions and look ahead to the US midterm elections. European markets are also heading for a mixed open ahead of midterm elections, which will determine which party will control Congress and could affect the direction of future spending.

Danni Hewson joined us for the details. She is a financial analyst at AJ Bell in the UK.

#StockMarket #MidtermElections #BankofJapan

The Federal Reserve has approved a fourth consecutive three-quarter point interest rate increase this week. The Fed also signaled a potential change in how it will approach monetary policy to bring down inflation. Meanwhile, Bank of England has raised interest rates to 3%, marking the biggest rise for 33 years.

#FederalReserve #BankofEngland #InterestRates

China's exports unexpectedly fell in October, with a drop in the value of goods sold to the US and EU, according to Chinese customs data released Monday. COVID restrictions in China are also hurting the economy. Apple said in a statement on Sunday that it has temporarily reduced iPhone 14 production in its primary China factory.

For more on Chinese economy, we spoke to Jameel Ahmad, chief investment strategist for MENA at Alpari.

#China #Trade #Export

Modhera has become India's first fully solar village, transforming the lives of poor residents. Solar panels installed on buildings are helping businesses and people reduce their electricity bills, while the world is facing a deepening energy crisis. Paolo Montecillo reports.

#Modhera #SolarPower #Electricity

This week we saw the Black Sea Grain Initiative saga unfold. Russia suspended its involvement in the grain deal before deciding to rejoin it. The agreement allows key supplier Ukraine to ship agricultural produce to the rest of the world. The deal was brokered by Türkiye and the UN in July. It ensures the safe passage of cargo ships carrying grain from Ukrainian ports after they were blocked by Russia.

For more on the story, we spoke to economist Taha Meli Arvas.

#Grain #Russia #Ukraine