ASIA/PACIFIC
-The Australian stock market closed firmly in the red on Friday, as the big resources companies dipped sharply after a fall in iron ore prices overnight.
-Major Asian stock indices traded mostly, following China’s gross domestic product (GDP) data which landed at 4.6% year on year in the third quarter of 2024, slightly above estimates by economists in a Reuters poll.
-China must employ a “beautiful deleveraging” in addition to its recent stimulus measures in order to avoid a debt crisis, Bridgewater Associates founder Ray Dalio told a conference on Friday.
. EUROPE
-European stock markets opened lower as investors digested the latest 0.25 percentage point interest rate cut made by the European Central Bank (ECB).
-ECB Governing Council member Madis Muller stated that there is a “general feeling” the economic growth in the Eurozone will be “more modest” than it could have been anticipated a month or two ago.
-British overseas territories are the world’s top enablers of corporate tax abuse, according to a ranking by tax advocacy group Tax Justice Network.
. AMERICAS
North America
-US equities traded higher in Friday’s premarket with investors’ focus on data on housing starts and building permits. They’ll also monitor commentary expected from central bank officials including Atlanta Federal Reserve President Raphael Bostic and Minneapolis Fed President Neel Kashkari.
Latin America
-Brazilian investment bank BTG Pactual has successfully issued $500 million in senior notes maturing on January 22, 2030.
-The Central Bank of Chile has reduced its benchmark interest rate to 5.25%.
. AFRICA
-The Kenya Revenue Authority (KRA) is set to introduce a new tax system that will monitor crypto transactions in real time to maximize and perfect their tax program, Nairametrics reported.
-Riyadh-based companies plan to pump up to $15 billion in Egypt over three years, according to Asharq Business.
-Nigeria’s inflation rate in September rises to 32.70% due to petrol price increases.
. MIDDLE EAST
-Dubai’s gross general government debt levels will decline to 34% of GDP, $50 billion, by year-end, down from 70% of GDP in 2021, S&P Global said.
-UAE’s biggest lender First Abu Dhabi Bank (FAB) posted a Q3 2024 net profit of 4.46 billion dirhams ($1.2billion), up 5% y-o-y.
-Saudi Arabia among top buyers of Russian fuel oil in September, LSEG data shows.
