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Trade tensions force EU to cut 2026 eurozone growth forecast
The eurozone economy will grow less than expected next year, the EU executive predicted on Monday, as risks from international trade and geopolitical tensions weigh on the single currency area. The International Monetary Fund (IMF) in October predicted the US economy would grow by 2.1 percent next year.
EU predicts less eurozone 2026 growth due to trade tensions
The EU on Monday cut its eurozone growth forecast for 2026 as risks from international trade and geopolitical tensions weigh on Europe's economy. "Persistent trade policy uncertainty continues to weigh on economic activity, with tariffs and non-tariff restrictions potentially constraining EU growth more than expected," the commission said in a statement.
Swiss growth suffered from US tariffs in Q3: data
Switzerland's economy contracted in the third quarter of the year, suffering from high US tariffs which abruptly curtailed exports across the Atlantic, the economy ministry said on Monday. Employer federation Swissmem last week reported an overall 14.2-percent drop of Swiss exports to the US in the third quarter compared to the period a year earlier.
Asian markets struggle as fears build over tech rally, US rates
Asian markets struggled Monday on simmering concerns that the Federal Reserve will not cut interest rates as hoped next month, while fears of a bubble continue to weigh on sentiment. That has been compounded by a weakening US jobs market that has fanned expectations the Fed will cut rates.
Japan-China spat sinks tourism stocks
Japanese tourism and retail shares fell sharply on Monday after China warned its citizens to avoid travelling to the East Asian country in a spat over comments by Prime Minister Sanae Takaichi about Taiwan. China and Japan last week summoned each other's ambassadors, with Beijing then advising its citizens to avoid travelling to Japan.
Zelensky in Paris to seek air defence help for Ukraine
Ukraine's President Volodymyr Zelensky visits Paris on Monday in a new bid to secure weaponry to defend his country against increasingly lethal Russian missile and drone attacks. Ukraine has said it plans to use more than 4.5 million drones this year, for frontline attacks and to fight off Russian drones.
Greenpeace says French uranium being sent to Russia
The Greenpeace environment group said Sunday that France was sending reprocessed uranium to Russia for treatment so it can be reused, despite the Kremlin's war in Ukraine. These operations have not been affected by international sanctions over the Ukraine war.
Serbia avoiding 'confiscation' of Russian shares in oil firm NIS
Serbia's president on Sunday said he wanted to avoid the "confiscation" of Russian shares in Serbian oil company NIS "at all costs", as his country seeks an exit from crippling US sanctions. "I want us to avoid at all costs confiscation, nationalisation or seizure of property...
Samsung plans $310 bn investment to power AI expansion
South Korean conglomerate Samsung unveiled on Sunday a plan to invest $310 billion over the next five years mostly in technology powering artificial intelligence, aiming to meet growing demand driven by a global boom. The investment package announced on Sunday comes after the South Korean government had pledged to triple spending on artificial intelligence next year.
AFP
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