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European Central Bank Governing Council member Gediminas Simkus believes that the focus should be on the direction of interest rate cuts rather than the size of the cut. He does not see a case for a 50 basis-point cut at present, emphasizing the importance of the overall trajectory. While acknowledging a slowing economy, Simkus does not believe a larger rate cut is warranted, as the ECB continues to monitor data and adjust policy accordingly. The debate among policymakers reflects differing views on the appropriate response to economic conditions, with Simkus advocating for a cautious approach. [Extracted from the article]

HSBC Holdings Plc has recently joined China's cross-border interbank payment system, reflecting China's efforts to increase the use of the yuan. This move allows HSBC to better support its clients' needs for renminbi trade solutions. The global shift away from the US dollar as a dominant currency is prompting countries and companies to diversify, with China's alternative payment system, CIPS, gaining traction. Despite the yuan's growing use in various contracts, it still represents a small portion of global transactions and is tightly controlled by Chinese authorities. [Extracted from the article]

Malaysia's economy exceeded expectations in the third quarter, with a 5.3% growth in GDP driven by the services and manufacturing sectors. The government has revised its annual growth forecast to 4.8% to 5.3%, aiming to meet its fiscal deficit target despite plans to cut petrol subsidies. Looking ahead, Malaysia anticipates a 4.5% to 5.5% growth next year, supported by higher salaries and minimum wage increases, although global volatility, particularly in China, poses a risk to the trade-reliant nation. [Extracted from the article]

Senegal is on track to be removed from the Financial Action Task Force's (FATF) gray list of jurisdictions under increased monitoring for money laundering and terrorist financing. A recent visit by a FATF team noted significant progress in Senegal's reform efforts. The decision will be made at the FATF plenary on October 25th, and if Senegal is removed from the list, it could help attract foreign capital. However, there is still a possibility that Senegal may remain on the list if a significant majority of FATF members do not vote in favor of its removal. [Extracted from the article]

Zimbabwe is experiencing shortages of basic goods such as bread and sugar following the devaluation of its gold-backed currency, the ZiG. Informal retail agents are hoarding these items to sell at higher prices in unregulated markets, taking advantage of exchange-rate differentials. The devaluation, which lowered the ZiG from 14 per dollar to 24.4 per dollar, has not been successful in stabilizing the currency, as the unofficial market rate remains much higher. The lack of confidence in the currency is driving business into the informal sector, where transactions are conducted in dollars. [Extracted from the article]

Zimbabwe is experiencing shortages of basic goods such as bread and sugar following the devaluation of its gold-backed currency, the ZiG. Informal retail agents are hoarding these items to sell at higher prices in unregulated markets, taking advantage of exchange-rate differentials. The devaluation, which lowered the ZiG from 14 per dollar to 24.4 per dollar, has not been successful in stabilizing the currency, as the unofficial market rate remains much higher. The lack of confidence in the currency is driving business into the informal sector, where transactions are conducted in dollars. [Extracted from the article]

Chinese President Xi Jinping has called on government officials to work towards achieving the country's annual growth target, as doubts have been raised about the momentum of the world's second largest economy. Wall Street economists, including UBS Group AG and JPMorgan Chase & Co., have predicted that China may miss its economic growth goal of about 5% this year. China's economy has been affected by a prolonged property downturn, and recent government efforts to boost sentiment have not yet been successful. The economy is relying on manufacturing and exports to maintain its growth target. [Extracted from the article]

Chinese President Xi Jinping has called on government officials to work towards achieving the country's annual growth target, as doubts have been raised about the momentum of the world's second largest economy. Wall Street economists, including UBS Group AG and JPMorgan Chase & Co., have predicted that China may not meet its economic growth goal of about 5% this year. China's economy has been affected by a prolonged property downturn, and recent government efforts to boost sentiment have not yet been successful. The economy is relying on manufacturing and exports to maintain its growth target. [Extracted from the article]

Treasury Secretary Janet Yellen has expressed her willingness to welcome a visit from her Chinese counterpart and is open to visiting China herself. Yellen emphasized the importance of engagement between the world's two largest economies, despite their disagreements on economic issues. She previously met with Vice Premier He Lifeng during a visit to Beijing in April, and areas for engagement include climate change and debt relief for developing nations. Yellen also highlighted the significance of maintaining contacts with counterparts in the event of future financial crises. [Extracted from the article]

Brent crude oil prices have fallen below $75 a barrel, erasing the gains made in 2024. This decline is attributed to concerns about demand in the world's two largest economies, as well as geopolitical risks. The Organization of the Petroleum Exporting Countries (OPEC) and its allies are planning to increase daily supplies by 180,000 barrels, which has added to concerns about oversupply. Additionally, the weak economic performance in China, the largest oil importer, has raised worries about the US economy. [Extracted from the article]

New Zealand's unemployment rate increased to 4.6% in the second quarter, which was lower than expected, and the economy added workers despite a weaker outlook. Employment rose by 0.4% from the previous quarter, surpassing estimates of a 0.2% decline. The New Zealand dollar strengthened after the report, as traders reduced their bets on the central bank cutting interest rates. While the jobless rate is still the highest in over three years, it suggests that inflation will return to the Reserve Bank's target range, potentially leading to rate cuts. [Extracted from the article]

Sweden's economy contracted by 0.8% in the second quarter, the first decline in a year, due to high borrowing costs that have impacted spending and investment in sectors like homebuilding. This drop in output followed a stronger-than-expected expansion in the first quarter. The central bank has started lowering its benchmark rate and is expected to continue easing in the second half of the year, which could provide relief to consumers and construction companies. However, the recovery in residential construction remains fragile, as indicated by a recent weakening in housing starts. [Extracted from the article]

China has appointed an official from Tibet, Wang Weidong, to lead its crackdown on the financial sector. Wang will serve as the chief of the newly established Central Financial Discipline Inspection and Supervision Work Committee. This move demonstrates China's ongoing efforts to clean up the industry and strengthen political supervision within the financial system. China has been tightening its control over the finance industry, with an anti-graft drive that has resulted in the removal of over 100 financial officials and executives in the past year. The establishment of the new committee suggests a more permanent oversight of the industry, following a regulatory overhaul in 2021. [Extracted from the article]

Japan's exports have increased for the seventh consecutive month, indicating a potential recovery for the economy in the second quarter. In June, exports grew by 5.4%, driven by chip-making gear and non-ferrous metals. However, this growth fell short of economists' expectations. Imports also rose, but at a slower rate than anticipated, resulting in a trade surplus. The weak yen has contributed to the increase in export value, benefiting Japanese exporters but raising concerns about inflation. The Japanese economy relies on strong exports to counterbalance weak consumer spending and persistent inflation. [Extracted from the article]

Japan's exports have increased for the seventh consecutive month in June, indicating a potential recovery for the economy in the second quarter. The Finance Ministry reported a 5.4% growth in exports compared to the previous year, slightly below economists' expectations. Imports also rose by 3.2%, lower than analysts' estimates. The trade balance shifted from a deficit to a surplus of ¥224 billion, attributed to a weaker yen. [Extracted from the article]

Venezuela and Monaco have been added to the Financial Action Task Force's "gray list" for not making enough progress in combating illicit financial flows. This designation requires closer monitoring and can make foreign investors more cautious about doing business in these countries. Venezuela, which is facing heavy compliance requirements due to US sanctions, is also preparing for a presidential election. The assessment team raised concerns about money-laundering risks associated with Venezuela's informal economy and highlighted terrorist financing threats related to its economic alliance with Iran. Monaco, on the other hand, has made significant progress in addressing concerns flagged by European inspectors but still needs to improve its approach to money laundering and increase resources for prosecuting such crimes. Turkey and Jamaica were removed from the gray list due to significant progress in improving their anti-money laundering and counter-terrorist financing regimes. [Extracted from the article]

Venezuela and Monaco have been added to the Financial Action Task Force's "gray list" for not making enough progress in combating illicit financial flows. This designation requires closer monitoring and can make foreign investors more cautious about doing business in these countries. Venezuela, facing heavy compliance requirements due to US sanctions, is also preparing for a July 28 election. The assessment team that visited Venezuela in 2022 raised concerns about money-laundering risks associated with the nation's large informal economy and highlighted terrorist financing threats tied to its economic alliance with Iran. Monaco, which has faced its own series of crises, is awaiting a report on its ability to combat bribery. The FATF acknowledged Monaco's progress but flagged remaining shortcomings related to money laundering and the principality's approach to criminal assets in other countries. The FATF also removed Turkey and Jamaica from the gray list, citing significant progress in improving their anti-money laundering and counter-terrorist financing regimes. [Extracted from the article]

Venezuela and Monaco have been added to the Financial Action Task Force's "gray list" for not making enough progress in combating illicit financial flows. This designation requires closer monitoring and can make foreign investors more cautious about doing business in these countries. Venezuela, in particular, has faced compliance requirements and US sanctions in the financial sector. The decision comes ahead of Venezuela's upcoming election and is based on concerns about money laundering risks and terrorist financing threats. Monaco, on the other hand, has made some progress but still has shortcomings in its approach to money, including tax fraud and prosecuting money laundering. The FATF also removed Turkey and Jamaica from the gray list, citing significant progress in their anti-money laundering and counter-terrorist financing efforts. [Extracted from the article]

Venezuela is expected to be added to the Financial Action Task Force's (FATF) "gray list" for not making sufficient progress in combating illicit financial flows. The FATF, a global watchdog, is set to make the decision on June 28. Being on the gray list would require closer monitoring and could make foreign investors more cautious about doing business in Venezuela. The designation would add to the challenges faced by Venezuela, which is already under sanctions from the US and the EU. The FATF's recommendations are taken seriously as they can impact a country's banking system and capital inflows. [Extracted from the article]

Chile's economy contracted for the second consecutive month, primarily due to declines in mining and commerce. The Imacec index, a measure of gross domestic product, fell by 0.3% in April compared to the previous month. However, compared to the same period last year, economic activity increased by 3.5%. The growth outlook for Chile is supported by interest rate reductions and higher copper prices, but the mining sector remains volatile and job informality indicates weakness in the labor market. The government has identified economic opportunities in industries such as copper, lithium, and green hydrogen. [Extracted from the article]

Chile's economy has contracted for the second consecutive month, with declines in mining and commerce contributing to the slowdown. The Imacec index, a measure of gross domestic product, fell by 0.3% in April compared to the previous month. Despite this, the economy is still expected to grow due to interest rate reductions and higher copper prices. The government has raised its economic growth forecast for 2024, and there are opportunities for economic development in industries such as copper, lithium, and green hydrogen. [Extracted from the article]

The number of children in Japan has reached a new low, highlighting the demographic challenges facing the country. The population of children aged 14 and under has declined for the 43rd consecutive year, reaching approximately 14.01 million. This represents a decrease in the ratio of children to the total population, which is now at an all-time low of 11.3%. Japan's declining population has resulted in labor shortages and increased pressure on healthcare and social security expenditures, with the situation expected to worsen due to the country's low birth rate. [Extracted from the article]

Taylor Swift fans have created a thriving unofficial market for merchandise inspired by the pop star. While her official online store has limited offerings, countless retailers on platforms like Etsy and Amazon have emerged, selling a wide range of Swift-themed products. Fans are willing to spend an average of $142 per transaction on unofficial merchandise, with some even creating their own designs to sell. The unofficial market poses challenges for reselling and trademark infringement, but it continues to thrive due to the strong devotion of Swift's fans. [Extracted from the article]

The UK economy grew for a second consecutive month in February, indicating that the shallow technical recession at the end of last year is over and a recovery is underway. Gross domestic product (GDP) rose by 0.1% from January, in line with economists' forecasts. The growth is expected to keep the Bank of England on track for rate cuts in the coming months. However, the pound slumped to its lowest level since November. The data also revealed a stronger than expected 1.2% increase in manufacturing, led by the car sector, while construction fell by 1.9% due to wet weather. [Extracted from the article]

The UK economy grew for a second consecutive month in February, indicating a recovery from recession. Gross domestic product (GDP) increased by 0.1% from January, in line with economists' forecasts. The figures suggest that the economy is gaining momentum after a shallow recession in the second half of the previous year. Manufacturing saw a significant increase of 1.2% in February, while services expanded by 0.1%. However, construction fell by 1.9% due to wet weather. The recovery is expected to be modest, and the Bank of England may deliver its first rate cut in June. The trade deficit also continued to narrow, with a decline in goods imports exceeding the decline in goods exports. [Extracted from the article]

China's sovereign wealth fund, China Investment Corp (CIC), is reportedly in talks to invest around $800 million in a pre-IPO fund managed by Bahrain-based Investcorp Holdings. This investment is part of CIC's strategy to increase its presence in the Middle East and expand its deals in the region. Other major sovereign wealth funds from Abu Dhabi and Saudi Arabia are also expected to invest in the fund. China's interest in the Middle East has grown as it seeks to strengthen trade ties with Gulf oil exporters amid trade tensions with the US and a slowing domestic economy. Investcorp, the largest alternative asset manager in the Middle East, is expanding in Asia and has partnered with the private equity arm of the Fung brothers' family office to invest in mid-cap companies in China's Greater Bay Area. [Extracted from the article]

Chile's economy is showing signs of recovery, with economic activity increasing for the second consecutive month. The Imacec index, a measure of gross domestic product, rose by 0.8% in February compared to January. While this was slightly below expectations, January's increase was revised higher to 2%. The economy is rebounding after political tensions, weak demand, and high inflation affected activity in 2023. Sectors such as manufacturing and retail are improving, and the government maintains a growth forecast of 2.5% for this year, which is above the Latin American average. Mining, industry, services, and commerce all saw increases in activity in February. The central bank is expected to continue its cycle of rate cuts, with borrowing costs predicted to be lowered to 6.5%. The recovery in Chile's growth is expected to attract investments in sectors such as lithium. [Extracted from the article]

Chile's economy has experienced growth for the second consecutive month, indicating a gradual recovery. The Imacec index, a measure of gross domestic product, increased by 0.8% in February compared to the previous month. Although this was slightly lower than expected, January's growth was revised higher to 2%. The central bank reported a 4.5% increase in the index compared to the previous year. The government maintains a growth forecast of 2.5% for this year, which is above the Latin American average. Sectors such as manufacturing and retail are improving, and mining activity increased by 2.5% in February. The central bank is expected to continue lowering interest rates to support the recovery. Retail sales, manufacturing, and industrial production also showed faster year-on-year growth in February than anticipated, although unemployment increased to 8.5%. [Extracted from the article]

Sri Lanka's economy has experienced growth for the second consecutive quarter, driven by increased industrial activity, an IMF bailout, and lower interest rates. Gross domestic product (GDP) rose by 4.5% in the three months leading up to December, surpassing economists' expectations. The country is currently working towards securing approval for the next installment of a $3 billion IMF loan program and is negotiating with dollar bondholders to restructure its debt. Lower borrowing costs, increased tourism, and remittances have also contributed to Sri Lanka's economic recovery. [Extracted from the article]

According to economists at Morgan Stanley, investment is playing a significant role in India's growing economy, with similarities to the booming period of the mid-2000s. The economists believe that there is potential for further expansion, driven by increased capital expenditure, rising exports, and a more stable economy. India's investment as a percentage of GDP is steadily increasing and could reach 36% by 2027. Other economists also note the importance of investment in India's economic growth, with signs of a revival in private capital expenditure. The investment drive has led to a rise in key stocks in the industrial sector. [Extracted from the article]

French industrial production has declined more than expected at the beginning of 2024, indicating that the country's economy is struggling to regain momentum after the energy crisis. In January, output fell by 1.1% compared to the previous month, while economists had predicted a contraction of only 0.1%. The manufacturing sector was particularly weak, with a 1.6% contraction in January, the sharpest drop since October 2022. The French government has revised down its growth forecast for this year to 1% from 1.4% due to geopolitical tensions, a slowdown in China, and a recession in Germany. French Finance Minister Bruno Le Maire has called for Europe to address its underlying growth difficulties and has urged the European Central Bank to ease its restrictive policy. However, most ECB Governing Council members want to see more progress on combating inflation before adjusting their stance. [Extracted from the article]

A Kenyan court has halted the government's collection of a housing levy that President William Ruto intended to use for a low-cost housing program. The court suspended the mandatory 1.5% tax until an ongoing appeal against its validity is heard and determined. The National Treasury had appealed a previous ruling that deemed the tax discriminatory because it only applied to formal jobholders and not the informal sector. The court decided to await the appeal's outcome to avoid irreversible decisions based on the impugned laws. [Extracted from the article]

Kenyan e-commerce firm Wasoko, backed by Tiger Global Management, is merging with Egyptian counterpart MaxAB to connect consumer goods companies with Africa's informal traders. The merged company will sell to over 450,000 merchants in eight African countries, including Morocco, the Democratic Republic of Congo, and Zambia. The valuation of the combined entity was not disclosed, but both companies have received significant funding in the past. With a focus on the informal retail sector, which makes up 70% of African consumer goods sales, the new company aims to tap into the continent's nascent e-commerce market. [Extracted from the article]

Private-sector activity in Germany and France, the two largest economies in the euro area, worsened at the end of the year, increasing the risk of a recession in the region. Weak demand for goods and services contributed to the downturn, and economists had expected conditions to improve. Geopolitical factors, customer reluctance, and the European Central Bank's efforts to combat inflation were cited as reasons for the subdued performance in Germany. The French economy is also experiencing a contraction, with reduced purchasing power and weak demand conditions contributing to lower activity levels. Employment has fallen in both countries, and there are mixed inflationary pressures. Euro-area PMI data is expected to show a seventh consecutive month of contraction, while other countries like Australia, Japan, the UK, and the US are expected to indicate continued expansion. [Extracted from the article]

Private-sector activity in Germany and France, the two largest economies in the euro area, worsened at the end of the year, increasing the risk of a recession in the region. Weak demand for goods and services contributed to the downturn, which was unexpected by economists. Factors such as geopolitics, customer reluctance, and the European Central Bank's efforts to combat inflation were cited as reasons for the subdued performance. Employment also declined in both countries, and inflation pressures varied. Euro-area PMI data is expected to show a seventh consecutive month of contraction. [Extracted from the article]

China's economy is expected to have weakened in November, leading to increased expectations for stimulus measures in the new year. Industrial output is predicted to have weakened compared to October, and property investment is likely to have contracted further. Deflationary pressures and concerns about retail sales growth are also casting a shadow over the economy. The government may implement fiscal stimulus measures, with monetary easing playing a supportive role. The data for November will be released on Friday, and economists will be closely watching industrial production, consumption, and fixed-asset investment. The People's Bank of China is expected to hold interest rates steady, but there may be measured interest rate cuts and reductions in the reserve requirement ratio in the future. Fiscal support is expected to play a larger role in the coming year, with the official budget deficit potentially exceeding 3% of GDP in 2024. [Extracted from the article]

Norway's economy grew for the second consecutive month in October, defying predictions of a recession. Mainland gross domestic product (GDP) increased by 0.4% from September, with healthcare and agriculture being the main contributors to the growth. However, this positive data contradicts other evidence suggesting that the Norwegian economy is slowing down, with a central bank survey indicating that output is expected to contract in early 2024. Despite the weakening currency, most analysts expect the central bank to keep interest rates unchanged due to a decrease in underlying inflation pressure. [Extracted from the article]

Republican lawmakers are using the issue of immigration as leverage to push for hardline border restrictions in exchange for more US aid to Ukraine. The surge in migrants crossing the US-Mexico border has become a significant concern for voters, second only to the economy. However, Democrats are resisting most of the Republican demands, resulting in a standoff that is delaying military assistance to Ukraine. Negotiations are focused on asylum, detention and deportation, and the status of Dreamers. The outlook for a deal is uncertain, and even if the issues are resolved, many House Republicans are demanding more significant changes. It is unlikely that Congress will pass aid for Ukraine this year. [Extracted from the article]

Norway's economy grew for the second consecutive month in October, defying a gloomy outlook for the country's fossil fuel-rich economy. Mainland gross domestic product (GDP), which accounts for Norway's offshore industry, increased by 0.4% from September, with healthcare and agriculture being the main contributors to the growth. This data contradicts other evidence suggesting that the Norwegian economy is slowing down, with a central bank survey indicating that output is expected to contract in early 2024. Most analysts predict that the central bank will keep its key interest rate unchanged this week. [Extracted from the article]

Ukraine's economy experienced a second consecutive quarter of growth, although the rate of growth slowed compared to the previous quarter. Gross domestic product (GDP) increased by 9.3% in July-September compared to the previous year, down from 19.5% in the second quarter. The State Statistics Office reported that seasonally adjusted GDP grew by 0.7% from the second quarter. Despite the economic challenges faced after Russia's invasion in 2022, the central bank raised its growth forecast for this year to 4.9% from 2.9%. Interest rates and wartime controls have been reduced as growth resumes. [Extracted from the article]

European Union finance ministers are working towards reaching an agreement on new fiscal rules for the bloc before the end of the year. After eight hours of negotiations, officials have made significant progress and are confident that a deal is achievable. Additional work will be done in the coming days, and another meeting of EU finance chiefs may be called in the week of December 18. The bloc's two biggest economies, Germany and France, have resolved 95% of their differences, and an eventual agreement will set consistent rules and recognize the importance of investments and reforms. Failure to meet the self-imposed deadline may undermine the EU's credibility. [Extracted from the article]

Mining executives in Peru are urging authorities to take action against violence by informal miners, which recently resulted in the deaths of nine workers at a legal gold mine. Illegal mining is now considered the country's main illicit activity, surpassing drug trafficking. The clashes between informal miners and formal mining operations have also affected copper deposits in Peru. The industry partly blames temporary permits that allow informal miners to operate with some legal protections, but many workers have remained in the system without formalizing their operations. The mining company involved in the recent attack is calling for the army's intervention and has increased its security measures. [Extracted from the article]

According to data from the Bureau of Economic Analysis, six US states experienced a decline in economic output in the second quarter of 2023. Vermont, the state with the smallest economy, saw the largest contraction. Most of the states with shrinking economies are located in a north-south belt from Wisconsin to Mississippi. However, Texas, the state with the second-largest economy, posted a second consecutive quarter of growth at a rate close to 5%. The report also highlights that while some sectors, such as professional services, experienced growth in every state, retail trade contracted in every state, and accommodation and food services shrank in all states except Arkansas. Additionally, the finance and insurance industry saw a contraction in 38 states, including New York and Connecticut. The release of the second-quarter figures was delayed due to data revisions, and the third-quarter numbers are set to be published on December 22. [Extracted from the article]

Kenya's High Court has ruled that a tax measure aimed at funding President William Ruto's affordable housing campaign pledge is unconstitutional. The mandatory 1.5% housing levy for employees and employers was deemed discriminatory because it only applied to those with formal jobs and not the informal sector. However, the revenue agency can continue collecting the tax until an appeal is filed. The ruling poses a risk to Kenya's budget, potentially leading to reduced expenditure or increased borrowing. [Extracted from the article]

A World Bank study has found that crime in South Africa is costing the country at least 10% of its GDP annually and exacerbating income inequality. One in five households are affected by crime each year, and companies are facing high security costs. Informal businesses, which are important for the economy and job creation, are particularly vulnerable to crime and often cannot afford preventative measures. The study suggests that if businesses could invest in productive ventures instead of security, South Africa's growth potential could increase by about 1 percentage point. The researchers recommend that the government pass legislation to enhance the prosecution of high-level crimes and recruit investigative specialists. [Extracted from the article]

Siemens AG, a German industrial company, has reported record earnings and predicts a recovery for China's economy in the second half of next year. The company expects comparable revenue to rise by up to 8% in the year through September 2024. Despite weaker demand in China, Siemens sees good prospects for its software and automation products as the Chinese government promotes high-tech manufacturing. Siemens has also agreed to buy an 18% stake in an Indian joint venture as part of a broader deal to support its troubled former subsidiary, Siemens Energy AG. Additionally, Siemens plans to pursue an initial public offering of its large-drives Innomotics business. [Extracted from the article]

China's President Xi Jinping has indicated that China will resume its "Panda Diplomacy" with the United States by sending pandas to American zoos. This move is seen as a signal to stabilize relations between the two largest economies in the world. President Xi made these remarks during a dinner with business executives at the APEC summit in San Francisco. The potential cooperation on pandas comes at a time when the US is facing the possibility of losing all of its pandas as current loan agreements expire. The return of pandas to American zoos is eagerly anticipated by the American people, especially children, and the Californians in particular. [Extracted from the article]

US President Joe Biden and Chinese President Xi Jinping have begun their summit in San Francisco, aiming to repair their strained relationship. The leaders of the world's two largest economies will engage in discussions on economic competition, military and diplomatic issues, and the importance of maintaining a constructive relationship. The summit is part of the Asia-Pacific Economic Cooperation (APEC) conference, which is also hosting bilateral and multilateral meetings between leaders from APEC member countries. The summit will address various topics, including artificial intelligence, the status of Taiwan, and conflicts involving Ukraine and Israel. [Extracted from the article]

The Asia Pacific Economic Cooperation (APEC) forum is holding its first in-person meeting in a year, with US President Joe Biden and Chinese President Xi Jinping set to meet in San Francisco. The meeting aims to reduce tensions and re-establish lines of contact between the two largest economies. Other APEC leaders will also be attending bilateral and multilateral meetings, and top CEOs such as Elon Musk and Sundar Pichai are expected to be present. The US is hosting the APEC events this year, which originated in Australia in the late 1980s. [Extracted from the article]

The Asia Pacific Economic Cooperation (APEC) forum is holding its first in-person meeting in a year in San Francisco, with US President Joe Biden and Chinese President Xi Jinping set to meet. The meeting aims to reduce tensions and re-establish lines of contact between the two largest economies in the world. APEC leaders will also engage in bilateral and multilateral meetings, and top CEOs like Elon Musk and Sundar Pichai are expected to attend. Protesters have gathered outside the conference center, expressing concerns about issues such as free-trade policies, climate action, and the Israeli-Gaza conflict. Visa Inc. has pledged $100 million to support underserved small and micro businesses in APEC economies. [Extracted from the article]