In a compelling address at China's esteemed Tsinghua University, European Union (EU) Trade Commissioner Valdis Dombrovskis delivered a resounding call for a recalibration of the economic rapport between the EU and China. Dombrovskis, who is currently in China…

In a significant development, an International Monetary Fund (IMF) monitoring mission commenced its second review of Ukraine's substantial $15.6 billion multi-year loan programme on Monday. Vahram Stepanyan, the IMF's resident representative, officially unveiled this crucial undertaking, emphasising…

In a worrisome turn of events for the Eurozone, private-sector activity within the region has continued its descent in September, pointing towards a potential economic contraction during the current quarter. The latest data, derived from an index…

The leaders of Nigeria and South Africa convened for a significant dialogue on the sidelines of the United Nations General Assembly in New York, with a central aim of fostering increased cooperation, particularly in the domains of mining…

As shown in the latest government data release, China's industrial landscape has exhibited signs of reinvigoration in August, raising optimism regarding the gradual recovery of the nation's economy from the aftershocks of the pandemic. The report reveals…

Sending a diplomatic retort to billionaire businessman Elon Musk's recent commentary on Taiwan's status in relation to China, the Taiwanese Foreign Minister, Joseph Wu, issued a resounding assertion that Taiwan was unequivocally "not for sale." Musk had ventured…

The Arab Gulf states and Central Asian republics are poised to catalyse mutual economic growth while charting a course towards enhanced cooperation. Esteemed experts gathered for a discussion, convened by the Middle East Institute in Washington, to delve…

In a disconcerting economic turn, Argentina finds itself grappling with a resurgence of inflation, reminiscent of the dark days of 1991. In August, the consumer price index in the South American nation soared by a staggering 12.4 percent,…

For decades, China's grandest cities have been the backdrop to a remarkable narrative of soaring economic prosperity. The steady ascent of living standards has ushered millions into the ranks of the middle class, a transformation that stands as…

The British economy encountered a steeper contraction than anticipated in July, attributed primarily to strike actions by NHS workers and educators, coupled with unfavourable weather conditions, as reported by official figures released by the Office for National Statistics…

In a momentous revelation, the International Monetary Fund (IMF) has unveiled its highly-anticipated forecast, foretelling an astounding resurgence of Guyana's economy, poised to skyrocket by an astounding 38% in the current year. This exhilarating projection, as per the…

In a testament to its resilience, Norway's economy registered growth for the third consecutive month in July, bolstering expectations of a carefully orchestrated soft landing scenario. This growth aligns with the central bank's blueprint, setting the stage for…

Germany, Europe's economic juggernaut, finds itself at the epicentre of a gloomy economic forecast, as the European Commission, the EU's executive arm, anticipates a prolonged recession for the nation in 2023. This unsettling prognosis positions Germany as the…

In an inaugural address to the Thai Parliament, the newly appointed Prime Minister, Srettha Thavisin, has pledged swift action to alleviate the economic turmoil that has befallen the nation in the wake of the COVID-19 pandemic. Prime Minister…

Preliminary estimates from Sweden's statistics agency have revealed a noteworthy resurgence in the nation's economy during the month of July, following a severe contraction in the previous month. Gross domestic product (GDP) recorded a growth of 0.5% compared…

In a surprising move, India, under Prime Minister Narendra Modi's ambitious "Make in India" initiative, announced import restrictions on personal computers and laptops in early August. This decision caught major tech giants like Apple, Samsung, and Dell off…

Saudi Arabia's economy exhibited resilient growth in the second quarter of this year, surpassing initial estimates, primarily driven by a robust expansion in the non-oil sector. The Arab world's largest economy reported a GDP growth rate of 1.2%,…

China, often referred to as the "world's factory," continues to grapple with the repercussions of weakened demand, both domestically and internationally, as its exports register a fourth consecutive monthly decline. Official figures reveal that in August, exports slumped…

The Russian rouble has experienced a decline in value, dipping below the 1 US cent mark this week. This drop has brought the rouble to its lowest point since the immediate aftermath of the invasion of Ukraine. This…

In a development reminiscent of the 2008 financial crisis, the latest Global Wealth Report jointly published by Credit Suisse and UBS reveals a decline in global household wealth throughout 2022.

The report indicates that the…

Retail inflation in India surged to a 15-month peak in July, primarily propelled by the escalating prices of vegetables and cereals.

During the month, inflation climbed to 7.44%, a significant increase from June's figure of…

The Dutch economy has officially entered a recession as it contracted by 0.3% on a quarterly basis during the second quarter, according to an initial estimate released by Statistics Netherlands on Wednesday.

This marks the…

Official figures reveal that higher temperatures in June had a more positive impact on the UK's economic growth than anticipated. The warmer weather particularly benefited the hospitality sector, including pubs and restaurants, as well as the construction industry,…

New official data suggests a slight weakening in the Northern Ireland job market between April and June. The unemployment rate increased from 2.5% to 2.7%, while the employment rate receded from 72% to 71.4%. These figures had last…

Japan's economy has outpaced expectations in the quarter ending June, as its weak currency bolstered exports. The Gross Domestic Product (GDP) of the world's third-largest economy surged by an annualised 6%, surpassing economists' predictions and marking the…

On Monday, the U.S. dollar surged to its highest level in over a month as investors turned to it as a safe haven, driven by concerns surrounding China's economy. Simultaneously, market participants were watching for potential Japanese…

China has chosen to halt the release of youth unemployment statistics, previously viewed as a key indicator of the nation's economic slowdown. According to a government spokesperson, this decision reflects changes in China's society and its second-largest…

Oil prices experienced a decline on Monday following seven consecutive weeks of gains, attributed to a strong dollar and concerns over China's economic growth impacting demand. Brent crude, the benchmark for a significant portion of global oil,…

Early trading in European stock indexes saw a decline on Friday as investors reacted to data indicating moderate increases in US consumer prices in July. The consumer price index grew by 0.2 percent last month, the same…

Norway's core inflation, which had recently surged to a record high, has now eased in line with expectations, providing a sense of relief for the central bank. This supports the central bank's intention to proceed with a quarter-point…

Russia's current account surplus experienced a substantial contraction to $25.2 billion in the period spanning January to July, marking an 85 percent decline compared to the corresponding timeframe in the prior year. Despite this decrease, the surplus…

In the recent period, American households are increasingly relying on credit cards for their expenses, resulting in a notable increase in credit card balances which reached $1.03 trillion during the second quarter. The Federal Reserve Bank of…

Ghana's inflation rate unexpectedly climbed to a peak not seen in four months in July, primarily due to rising food costs. This increase places additional pressure on the central bank to persist with its policy of raising…

China's consumer prices have dropped for the first time in over two years, signalling a challenge to the nation's post-pandemic economic revival due to a slowdown in spending.

The Chinese economy has entered…

Ecuador is facing a sense of uncertainty in the lead-up to its upcoming presidential elections, with economic challenges and rising crime rates at the forefront of concerns.

The array of contenders competing in the…

In July, the Canadian job market demonstrated a relatively stable outlook, experiencing a modest reduction of approximately 6,400 jobs nationwide, mainly within the realm of part-time employment. This outcome deviated from analysts' expectations, who had anticipated an addition…

In July, the United States witnessed an addition of 187,000 jobs, falling short of expectations and indicating a cooling labor market. This deceleration follows a series of interest rate hikes by the Federal Reserve, which have propelled…

In July, China experienced the most substantial decline in its exports in over three years due to a slowdown in global demand, intensifying the pressure on Beijing to reinvigorate its economy, the world's second-largest.

The leader of Tunisia's largest trade union has called on Western nations to provide more support for migrants arriving in Libya after Tunisian authorities initiated a mass expulsion in early July.

Noureddine Taboubi, Chief of…

The UN Food and Agriculture Organization (FAO) reported that global prices for food commodities, including rice and vegetable oil, have risen for the first time in months. The increase was attributed to Russia's withdrawal from a wartime agreement…

The recent coup in Niger has caused diplomatic and security turmoil in the West African region, surpassing previous coups in its impact. The Economic Community of West African States (ECOWAS) has taken an unexpected step by considering the…

The Saudi-Bahraini Coordination Council recently convened its economy, energy, trade, and industry committee to explore opportunities for enhancing joint bilateral cooperation. In its third meeting, conducted virtually, the committee was co-chaired by Saudi Minister of Economy and Planning,…

The US economy surpassed expectations in the second quarter, growing at a rate of 2.4% on an annualised basis. Labor market resilience supported consumer spending, and businesses increased investment in equipment, potentially warding off fears of an imminent…

The Canadian dollar faced pressure on Tuesday as it weakened to a three-week low against its U.S. counterpart. The greenback experienced broad-based gains, and data revealed a slowdown in Canada's manufacturing sector for the third consecutive month.

China is intensifying its policy support for the economy and urging local governments to hasten the sale of bonds to fund critical infrastructure projects. Regulators have instructed local authorities to utilise this year's quota of special purpose bonds…

The Central Bank of West African States (BCEAO) has cancelled Niger's planned 30 billion CFA franc ($51 million) bond issuance in the West African regional debt market, in the wake of a recent coup, according to sources familiar…

Eurozone inflation saw a decline to 5.3% in July, signaling positive signs of resilience in Europe's economy, as revealed in the data published by Eurostat, the EU statistical office on Monday. This drop in inflation comes after a…

The International Monetary Fund (IMF) has revised its growth forecast for the global economy, projecting a 3% expansion in 2023, up from the 2.8% prediction made in April earlier this year. The latest report, titled 'Near-Term Resilience, Persistent…

Hafize Gaye Erkan, the new governor of Turkey's central bank, stated during her inaugural news conference on Thursday that the bank expects inflation to surge to 58% by the end of 2023. This forecast is more than double…

The Japanese yen strengthened against all major currencies following a report indicating that the Bank of Japan (BOJ) plans to discuss potential adjustments to its yield curve control (YCC) policy during its upcoming meeting on Friday.

Bahrain's thriving business-friendly environment, strategic location, and dedicated efforts towards economic diversification have resulted in a notable surge in foreign direct investments, as revealed in a recent report by global research and advisory firm Oxford Business Group (OBG).

S&P Global Ratings has downgraded Bangladesh's long-term rating outlook from stable to negative, expressing concerns over potential risks to the country's external liquidity position in the coming year. The ratings agency highlighted that Bangladesh's foreign exchange reserves are…

Saudi Arabia and Tunisia have recently inked significant agreements, demonstrating their commitment to fostering economic growth and stability in Tunisia. The deals, worth a total of 500 million U.S. dollars, were formalized in the presence of Tunisian Prime…

Japan's core consumer prices experienced a faster increase in June, marking the 15th consecutive month above the central bank's target. Official data revealed that core consumer inflation reached 3.3 percent year-on-year last month, compared to 3.2 percent in…

During Sri Lanka President Ranil Wickremesinghe's visit to India, both countries' leaders have pledged to enhance economic and energy relations and explore the possibility of constructing a land link between them.

Wickremesinghe's official visit to…

Britain's inflation rate has fallen to its lowest level in 15 months, sparking optimism among investors and economists about a potential shift away from the severe price spiral witnessed in the Group of Seven (G7) nations.

Economic activity in Brazil experienced a decline in May, as indicated by a central bank index released on Monday. This development suggests a non-linear growth trajectory for the country, despite analysts consistently revising their forecasts upwards for the…

Turkish President Recep Tayyip Erdogan embarked on a tour of Persian Gulf states, including Saudi Arabia, to explore trade and investment opportunities that can support Turkey's struggling economy. Erdogan arrived in Jeddah accompanied by a delegation of approximately…

Sergio Massa, the Argentine Economy Minister and a key political figure in the country, recently concluded a successful visit to Beijing. During his packed agenda, Massa held meetings with government officials and business leaders, resulting in significant economic…

In a momentous move, the World Bank has embarked on a comprehensive strategy to bolster its lending capacity, delivering a significant push towards eradicating poverty and enhancing livelihoods for millions of individuals.

Aligned with the…

China's economy experienced slower-than-expected growth in the second quarter, while youth unemployment reached a record high, according to official data released on Monday. Gross domestic product (GDP) expanded by 0.8 percent compared to the previous quarter, reflecting lacklustre…

The European Union (EU) and Tunisia have signed a "strategic partnership" aimed at addressing the challenges of illegal immigration while also supporting Tunisia in its economic struggles. The agreement was welcomed by Ursula von der Leyen, the President…

The Bank of England (BoE) has warned that nearly one million households in the UK will face a significant increase in mortgage payments by the end of 2026. This comes as the BoE has been raising interest rates…

The British pound reached a new 15-month high on Wednesday following the Bank of England's stress test, which demonstrated that the largest UK banks have sufficient capital to withstand a potential economic crisis. This outcome has increased expectations…

The International Monetary Fund (IMF) has granted approval for a long-awaited $3 billion bailout package to Pakistan, which will help the South Asian nation avoid defaulting on its debt obligations.

In a statement released on…

Germany has announced a new policy aimed at addressing the increasingly assertive nature of China, according to Chancellor Olaf Scholz. After months of contentious debate on how to approach Germany's top trade partner, the strategy aims to reduce…

Pakistan has received a substantial financial boost as Saudi Arabia provided $2 billion in support, according to Finance Minister Ishaq Dar. This comes just before the International Monetary Fund's (IMF) board is expected to grant final approval for…

Unemployment in the UK has risen to four percent in the three months leading up to the end of May, according to official data released by the Office for National Statistics (ONS).

This marks an…

Vietnam's Ministry of Finance has introduced Circular 44/2023/TT-BTC, which outlines a reduction of fees and charges for 36 items by 10% to 50%. The aim is to provide support to individuals and businesses facing economic difficulties, recovering from…

China's producer prices continued to decline for the ninth consecutive month in June, while consumer prices remained unchanged, according to official data released on Monday. These figures highlight the challenges faced by the world's second-largest economy in stimulating…

China has urged the United States to take practical steps to address its concerns over sanctions on Chinese companies following US Treasury Secretary Janet Yellen's extensive meetings with senior officials in Beijing.

China's finance ministry…

Goldman Sachs foresees India surpassing Japan, Germany, and even the United States to become the world's second-largest economy by 2075, according to a recent report. At present, India ranks as the fifth-largest economy, trailing behind the US, China,…

The State Bank of Pakistan reported that remittances sent home by Pakistanis working abroad declined to $27 billion for the fiscal year 2023, compared to $31.3 billion the previous year. In June alone, remittances slumped to $2.2 billion…

Japanese workers have experienced a remarkable surge in their wages following a government call for companies to support employees grappling with soaring prices. Official data reveals that wages in May rose by 1.8% compared to the previous year,…

Germany's prospects for a rapid economic rebound were dampened on Friday as data revealed an unexpected decline in industrial production. The federal statistical office reported a 0.2% drop in output for May compared to the previous month, contrary…

Prime Minister Chris Hipkins affirmed that New Zealand will sustain its engagement with China, its largest trading partner, while also addressing areas of disagreement that challenge New Zealand's national interests.

Although New Zealand has traditionally…

Financial markets are increasingly confident that the Bank of England (BoE) will raise interest rates to a 25-year high of 6.5% at the beginning of next year, surpassing previous expectations of a peak at 6.25%. This development has…

The Ras Al Khaimah Economic Zone (RAKEZ) and the Israeli Manufacturers Association (IMA) have inked a deal to enhance mutual investment and manufacturing, as reported by the UAE's WAM state news agency on Wednesday.

The…

Lorie Logan, President of the Federal Reserve Bank of Dallas, stated on Thursday that there was a rationale for a rate hike at the June policy meeting. She affirmed her belief that additional rate increases would be necessary…

On Tuesday, crude oil prices climbed 2% as investors anticipated supply cuts by key exporters, Saudi Arabia and Russia, set to take effect in August. This positive outlook persisted despite concerns surrounding the weak global economic forecast.

Ethiopia, known for its remarkable economic growth in Africa, has expressed its interest in becoming a member of the BRICS bloc of emerging markets, according to an announcement from the country's foreign ministry on Thursday.

In a sign of potential economic slowdown, Turkey's trade deficit decreased by 35 percent in June as both imports and exports declined. This shift comes as President Recep Tayyip Erdoğan has adopted more orthodox economic policies since his…

Vilhelm Junnila, the newly appointed economy minister of Finland, has resigned from his position after just 10 days in office following controversy over remarks he made at a far-right event four years ago. Junnila, a member of the…

Janet Yellen, the Treasury secretary of the United States, is set to visit Beijing this week, marking the second high-profile visit between the world's two largest economies in recent weeks as they strive to repair strained relations. The…

According to the Organization for Economic Cooperation and Development (OECD), among the Group of Seven (G7) wealthy nations, the United Kingdom stands alone in experiencing a persistent rise in inflation. The data released by the Paris-based organisation on…

In response to national security concerns, China has announced restrictions on the export of rare metals essential for semiconductor production. According to guidelines issued jointly by the Ministry of Commerce and China Customs, Chinese exporters will require approval…

In January, UK Prime Minister Rishi Sunak made a bold promise to halve inflation by the end of the year, with an eye on the critical general election in 2024. However, recent data has shown that the path…

The UK's investment minister expressed his desire for robust investment protections in any future trade agreement with India and highlighted the potential for closer collaboration between the two countries in financial services, even in the absence of a…

The UK is experiencing a significant boost in job creation due to substantial foreign investment, supporting the government's focus on economic growth and levelling up across the country. Recent government statistics, released on Tuesday, highlight that more than…

According to Saudi Press Agency, Faisal bin Fadel Al-Ibrahim, Saudi Arabia's Minister of Economy and Planning, had a meeting with Borge Brende, the President of the World Economic Forum (WEF), on Wednesday. The meeting took place during the…

Chinese Premier Li Qiang reaffirmed on Tuesday that China is on track to achieve its annual growth target of approximately 5%. He stated that growth in the second quarter is expected to be faster than in the first.…

President Joe Biden has unveiled his economic plan, dubbed "Bidenomics," as he prepares for the 2024 presidential election. Speaking in Chicago, Illinois, Biden outlined his proposal, which aims to restore the "American dream" by focusing on bolstering the…

Prime Minister Shehbaz Sharif engaged in a telephone conversation with Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), expressing optimism that a decision on the bailout program would be reached within a day or two.

British banks and building societies have committed to providing greater flexibility to homeowners struggling with mortgage repayments as interest rates rise. Bank executives met with Chancellor Jeremy Hunt at Downing Street to discuss measures to alleviate the financial…

Following Turkish President Recep Tayyip Erdogan's re-election, his government is embarking on a new economic policy direction. The appointments of Mehmet Simsek as the head of the finance and treasury ministry, and Hafize Gaye Erkan, a former Wall…

Germany's Chancellor Olaf Scholz promotes an economy leading the way in industrial transformation during his visits to semiconductor factories and electric car plants. However, business leaders and experts offer a less optimistic outlook, anticipating tough times ahead for…

The government of Pakistan has once again appealed to the International Monetary Fund (IMF) to release the pending $1.1 billion tranche from the $6.5 billion loan program, which is scheduled to expire at the end of June. Prime…

US President Joe Biden and Indian Prime Minister Narendra Modi have highlighted a new era in the US-India relationship, with a focus on countering China's global influence. The leaders announced deals in the areas of defence and commerce,…

Economic activity in the Eurozone deteriorated in June, reaching a five-month low, primarily due to a decline in industrial production, according to a closely watched survey. Official figures published earlier in the month confirmed that the Eurozone entered…

Ghana's economy is showing signs of stability following the commencement of the International Monetary Fund's (IMF) three-year support program, according to a team of staff from the IMF. The team, after a week-long working visit to the West…

The mortgage market in Britain, valued at £1.5 trillion ($1.9 trillion), is experiencing turmoil due to disruptions in money markets. This instability threatens to trigger a decline in housing activity, reminiscent of the late 1980s, and cause financial…

In May, Swedish inflation dropped below 10 percent, according to official statistics released on Wednesday. Consumer prices increased by 9.7 percent year-on-year, marking the first time in over six months that inflation came in below 10 percent, down…

Consumer prices in the United States saw minimal growth in May, with the annual inflation rate being the lowest in over two years. Despite this, underlying price pressures remained robust, reinforcing expectations that the Federal Reserve would maintain…

Egypt, grappling with an economic crisis, has announced plans to allocate 127.7 billion Egyptian pounds ($4.14bn) for its food subsidy programme in the upcoming fiscal year starting from July 1. This marks an increase from the previous year's…

The UK economy experienced a modest return to growth in April, buoyed by increased car sales and consumer spending in pubs and bars. The Office for National Statistics reported a 0.2% month-on-month rise in gross domestic product (GDP),…

According to a recent poll of 13 economists, the aggressive hike of the cash rate by the Reserve Bank of New Zealand (RBNZ) is believed to have pushed the country into a technical recession in the first quarter.…

The Turkish lira experienced a 0.8% decline to reach a new all-time low on Thursday, following a significant drop in the previous session. Economists suggest that this downward trend indicates a relaxation of state controls on the foreign…

According to a senior official from the International Monetary Fund (IMF), Pakistan has the opportunity to undergo one board review under its current IMF bailout package if the measures outlined in its upcoming budget, scheduled to be revealed…

India's economy experienced an acceleration in growth, reaching 6.1 percent in the January-to-March quarter, fuelled by government and private capital spending. Despite sluggish private consumption, India's growth remains strong compared to other emerging economies, particularly China, whose recovery…

The US labor market continues to show strength, with employers adding 339,000 jobs in May, surpassing economists' expectations. This job growth marked an acceleration from the revised upward figure of 294,000 in April. The unemployment rate did rise…

The Swiss economy exceeded expectations with a stronger-than-expected growth rate in the first quarter of 2023, driven by robust domestic demand and increasing exports, according to the State Secretariat for Economic Affairs (SECO). Adjusted for sporting events, economic…

The African Development Bank (AfDB) has projected that Nigeria and other economies in Africa will experience growth rates of 4.1% in 2023 and 4.3% in 2024. Dr. Akinwumi Adesina, the President of AfDB, made this announcement during the…

Global shares displayed a mixed performance as concerns regarding the economic outlook in China and other regions weighed on investor sentiment. In European markets, France's CAC 40 declined by 0.4%, Germany's DAX rose by 0.3%, and Britain's FTSE…

Amidst a surge in youth unemployment, college graduates in China are facing a challenging job market, leading many to accept low-paying positions or jobs below their skill levels. Official data reveals that urban unemployment among 16 to 24-year-olds…

Kenyan President William Ruto has accused the staff of the Kenya Revenue Authority (KRA), the country's tax collection agency, of engaging in corruption and colluding with tax evaders, thereby reducing government revenue. During a live-streamed event with KRA's…

President Akufo-Addo of Ghana has stated that the relief program provided by the International Monetary Fund (IMF) will not immediately alleviate the country's economic challenges. However, he believes that the program will restore confidence and reopen opportunities that…

The South African Reserve Bank (SARB) has issued a warning about the risks to the country's financial stability, citing capital outflows and the potential for sanctions following allegations made by a U.S. diplomat of weapons supply to Russia…

Vietnam's economic growth is expected to slow down to 6.3 percent in 2023, following a strong performance of 8 percent in the previous year, according to the World Bank's latest Taking Stock report. The moderation in growth is…

During the G7 summit in Hiroshima, UK Prime Minister Rishi Sunak emphasised that China represents the most significant challenge to global security and prosperity. He stated that China's increasing authoritarianism at home and abroad is a cause for…

Gold rebounded on Friday, rising 1% and recovering some of its losses from earlier in the week. Concerns about the stability of the banking sector contributed to the rally, while traders reduced their expectations for another interest rate…

Japan's economy has officially emerged from recession, boosted by increased household spending following the COVID-19 pandemic, according to new data released on Wednesday. The figures reveal a 1.6 percent growth in GDP from January to March, surpassing predictions…

The European Bank for Reconstruction and Development (EBRD) has released its latest Regional Economic Prospects report, projecting a growth rate of 2.5 percent for Turkey's earthquake-affected economy in 2023. This forecast marks a downward revision from the previous…

A high-ranking official in the German economy ministry is stepping down from his position following a nepotism scandal, confirmed Economy Minister Robert Habeck on Wednesday.

Patrick Graichen, who served as deputy minister for energy, faced…

Elon Musk, the CEO of Tesla, has cautioned that the electric vehicle manufacturer is not immune to the challenges of the global economic environment, which he believes will remain difficult for the next year. Speaking at the company's…

The G7 nations are in agreement about the threat posed by China's economic coercion. However, finding consensus on concrete action to counter Beijing is proving challenging for the group of wealthy democracies, given divisions over how to manage…

President Joe Biden and Republican leaders have expressed cautious optimism regarding a potential deal to raise the US debt ceiling after emergency talks at the White House. However, House of Representatives Speaker Kevin McCarthy noted that the two…

The International Monetary Fund (IMF) has stated that the Philippine economy achieved one of the highest growth rates among emerging economies in 2022. However, the IMF forecasts a moderation in GDP growth to 6 percent in 2023, citing…

The recent suspension of internet services due to protests following the arrest of Imran Khan, chairman of the Pakistan Tehreek-e-Insaf political party, has significantly impacted the economy and income of people.

The Pakistan Telecommunication Authority…

President Emmanuel Macron has outlined his vision to revitalize the French economy by constructing factories that will generate employment opportunities and enhance the country's self-sufficiency. This ambitious goal comes at a challenging time for France, grappling with prolonged…

Concerns persist about China's recovery from COVID-19 lockdowns, and the United States is facing talk of a potential recession. However, the economic outlook for Europe has recently brightened, as indicated by the European Commission's upgraded growth forecast.

The Organization of the Petroleum Exporting Countries (OPEC) has revised its forecast for China's oil demand growth in 2023, citing the easing of COVID-19 restrictions in the country. However, the global demand forecast remains unchanged, as OPEC highlights…

Global economic uncertainty took center stage as finance leaders from the Group of Seven (G-7) wrapped up their three-day meeting in Niigata, Japan. The discussions were overshadowed by the U.S. debt ceiling stalemate and the fallout from Russia's…

Thailand's economy surpassed expectations in the first quarter, driven by a rebound in tourism, but its future outlook depends on maintaining political stability. The National Economic and Social Development Council (NESDC) reported a year-on-year GDP growth of 2.7%…

Harbour Energy, a British oil and gas producer, has confirmed that it will cut 350 jobs from its onshore operations in the UK due to the windfall tax that was imposed on the country's oil and gas industry…

The Joint Coordination Centre (JCC) of the United Nations and Turkey has resumed inspections of outbound vessels for the safe export of Ukrainian grain from the Black Sea, according to a UN spokesperson. Russia has threatened to leave…

The consumer spending in Japan has declined unexpectedly in March at the fastest rate in a year, along with a twelfth consecutive month of decline in real wages due to persistent inflation. The decline has highlighted the challenges…

Australia is set to achieve its first balanced annual budget in 15 years, according to Treasurer Jim Chalmers. The country's economic blueprint for next year will ease financial hardships without increasing inflation, he said. High prices for commodities,…

Employers in the US hired more workers than expected in April, with the country adding a healthy 253,000 jobs. The continued strength in the job market is defying economists' predictions that the Federal Reserve's year-long series of interest…

Gold prices have recorded their largest weekly increase since March due to concerns about the US banking sector. This has led to speculations that the Federal Reserve may cut rates sooner than anticipated. Bullion prices remained steady on…

Indonesia's economy expanded by 5.03% in the first quarter of 2023, driven by improving consumption and government spending, according to data from Statistics Indonesia. The growth rate exceeded the 4.95% median forecast in a Reuters poll and was…

The International Monetary Fund (IMF) has stated that economic growth in the Middle East, North Africa, and Central Asia regions will slow in 2023, highlighting the need to expedite structural reforms. According to the IMF's Regional Economic Outlook…

On Thursday, the European Central Bank (ECB) is expected to raise its benchmark rate by only 25 basis points due to declining core inflation and tighter financial conditions within the eurozone. ECB's quantitative tightening (QT) has already been…

UK fintech start-up, Lanistar, has opened two new offices in the United Arab Emirates and Brazil, extending its presence to three continents as part of a plan to grow its global reach. The new office spaces are described…

On Tuesday, Bank of Japan Governor Kazuo Ueda expressed that the risks to Asia's economy are smaller compared to other regions due to its resistance to the banking sector issues in the United States and Europe. This statement…

Preliminary figures released on Friday showed that the Eurozone economy grew by a meagre 0.1% during the first quarter of this year, failing to meet analyst expectations of 0.2% quarterly growth. While France's GDP picked up by 0.2%,…

According to a senior IMF official, Saudi Arabia’s non-oil economic growth will be supported by government-led reforms and growth in private investment in new sectors. The Saudi Arabian economy grew 8.7% last year, as high oil prices boosted…

The Debt Management Office (DMO) of Nigeria has responded to recent media reports about the country's debt to the World Bank. The DMO stated that Nigeria's $13.46 billion World Bank loan is a positive development for the country…

According to the latest regional economic outlook report released by the International Monetary Fund (IMF) on Tuesday, the economy of the Asia-Pacific region is expected to grow by 4.6% this year, compared to a 3.8% increase last year.…

Hong Kong's economy expanded by 2.7% in the first quarter of this year, ending a year-long recession. This is better than expected and is a recovery from the 4.1% contraction in Q4 of 2020. The reopening of Hong…

South Korea's exports have decreased for the seventh consecutive month in April, recording the longest losing streak in three years, due to sluggish sales to China and other global market pressures. The disappointing figures come in spite of…

An agreement has been reached between Canada and 120,000 federal workers who have been on strike, effectively ending one of the country's largest public-sector work stoppages in history. The strike had caused a significant impact on services ranging…

Taiwan's economy has fallen into recession with its GDP plummeting by 3.02% in the first quarter, according to advance estimates released by the Taiwanese government's statistics bureau. This is the steepest decline since the global financial crisis and…

The Central Bank of Sri Lanka has revealed the details of the country's most severe economic crisis in over 70 years in its annual report. The bank stated that last year, wages failed to keep pace with the…

The United States Commerce Department reported that gross domestic product (GDP), a measure of all goods and services produced for the period, grew at an annualised pace of 1.1% in Q1, missing economists' expectations of 2%, as private…

According to the National Bank of Belgium, the country's economy gained momentum in Q1 2023. Preliminary estimates show that the gross domestic product increased by 0.4% from January to March, compared to a 0.1% expansion in the previous…

The US economy is predicted to have continued growing strongly in the first quarter, driven by solid consumer spending. However, recent higher interest rates have slowed this momentum. The Commerce Department's report on Thursday is expected to reveal…

The German government has revised its economic forecast upwards, despite ongoing challenges such as the war in Ukraine and sanctions against Russia. The spring economic forecast presented on Wednesday predicts a 0.4% economic growth, slightly more than the…

According to Economy Minister Abdullah bin Touq Al-Marri, the United Arab Emirates (UAE) needs more time to prove that the policies it introduced to combat financial crime are effective before it can be removed from the Financial Action…

According to the latest World Development Report by the World Bank, Indian workers can significantly increase their income by moving abroad. The report states that internal migration within India would only add around 40% to personal incomes, whereas…

According to the Philippine Statistics Authority (PSA), the digital economy of the Philippines contributed 9.4% to the country's GDP in 2022, amounting to 2.08 trillion pesos or approximately 37.44 billion US dollars. This figure represents an increase of…

Oil prices fell to their lowest level this month on Tuesday, dropping by 2%, as a stronger dollar and concerns of an economic slowdown outweighed hopes of higher demand from China. Brent crude dropped by 2.4% to $80.77…

The UK Prime Minister, Rishi Sunak, has launched a new programme called "Business Connect," aiming to connect with over 200 CEOs and business leaders to promote businesses in the UK. Sunak went live on LinkedIn on Monday to…

The first quarter has brought bad news for UPS, as the company reported a 6% drop in revenue compared to the same period last year, and a 22% decline in operating profit. UPS earnings for Q1 also fell…

South Korea’s economy grew by 0.3 percent during the first quarter of 2023, narrowly avoiding a recession following a contraction of 0.4 percent in the previous quarter. A recession is usually defined as two consecutive quarters of negative…

Tourism businesses in London are preparing for the coronation of Prince Charles, set to take place in May, which is expected to bring a much-needed boost to the industry that has been hit hard by the pandemic. Hotels…

In early European trade on Tuesday, the US dollar fell against a basket of six other currencies, with traders positioning for a more hawkish stance from the European Central Bank (ECB) than the Federal Reserve ahead of next…

Argentina's inflation rate rose to 7.7% in March, surpassing economists' expected seven percent. Government data shows prices increased 104.3% compared to a year ago, the highest level since 1991, driven by seasonal factors and a historic drought. Education…

According to a recent poll of economists cited by the World Economic Forum, the US Federal Reserve will deliver a final 25-basis-point interest rate increase in May and then maintain a steady rate for the rest of 2023.…

Italy's Ambassador to Nigeria, Mr Stefano De Leo, has described Nigeria as one of Italy's major economic and security partners in Africa. In an interview with the News Agency of Nigeria (NAN) in Abuja, De Leo said that…

Bank of Japan officials are hesitant to change or abandon their yield control stimulus at their policy meeting next week, given the recent overseas banking crisis that has cast a shadow on the outlook. The officials believe that…

The Bank of Russia is reportedly developing a bill that would introduce an "experimental legal regime" for cryptocurrencies solely in export-import transactions, according to the head of the regulatory agency, Elvira Naiullina. Naiullina confirmed that crypto trading and…

Federal Reserve Bank of New York President John Williams has warned that inflation remains at problematic levels and the central bank will take action to reduce it. Speaking at an event in New York, Williams acknowledged that recent…

According to official data released on Tuesday, China's property investment decreased by 5.8% in the first quarter of 2023, compared to a 5.7% drop in the previous two months. The National Bureau of Statistics (NBS) revealed that property…

The Japanese Ambassador to Iraq, Futoshi Matsumoto, held a meeting with the Prime Minister of Iraq, Mohammed Al-Sudani, to discuss strategies to promote private sector investment in Iraq. The meeting was also attended by representatives from leading Japanese…

Chinese yuan is predicted to rise by 5.5% against the US dollar this year due to the strong Chinese economy and the US's decision to move away from rate hikes, according to Pictet Asset Management SA, a Swiss…

Turkish President Recep Tayyip Erdogan has started his re-election campaign with a vow to cut inflation to single digits and increase economic growth in a bid to extend his 20-year rule. Erdogan's Justice and Development (AK) Party has…

Egypt must implement more reforms before the International Monetary Fund (IMF) conducts the first review of the country's $3bn rescue package, according to Bloomberg News. The IMF wants Cairo to privatise some state assets and allow greater flexibility…

The confidence of finance chiefs at the UK's largest companies has risen sharply, with the Deloitte survey of CFOs showing that sentiment has rebounded as concerns about energy prices and Brexit have eased. The survey showed that 25%…

SME Finance, a Lithuanian SME lender, has reportedly secured a €100m credit facility from Fasanara Capital. This fresh equity will enable SME Finance to create an EU-wide FinTech marketplace for traditional business loans, as well as new models…

According to customs data released on Thursday, China's exports surged by 14.8 percent year on year in March, marking the first rise in six months. The figure also represents a significant increase from March last year, when the…

Retail sales in the US have seen a decline for the second consecutive month in March, indicating a cautious spending attitude among consumers following a significant surge in January. Sales dropped by 1% in March, a sharper decline…

Brazilian President Luiz Inacio Lula da Silva is set to visit China with the aim of strengthening economic ties and restoring Brazil’s role in global diplomacy. Lula is hoping to invite Chinese President Xi Jinping to Brazil for…

On Tuesday, the International Monetary Fund (IMF) released its World Economic Outlook report, which showed a reduced growth outlook for Pakistan’s fragile economy. The South Asian country's growth rate for 2023 has been cut to 0.5% from 6%…

A study by the Liverpool Business School at Liverpool John Moores University found that the 2022 Grand National Festival brought an estimated £60 million boost to the local economy of the Liverpool City Region. The event, held at…

Data from the Office for National Statistics (ONS) has shown that the UK's economy failed to grow as anticipated in February. However, an increase in January was stronger than previously thought, meaning that a recession is less likely…

The Nigerian government has secured an $800m loan from the World Bank to provide post-petroleum subsidy palliatives for over 50 million Nigerians ahead of June 2023. The next administration after President Buhari will begin repayment of the loan.…

The Pakistani rupee has taken a significant hit in recent months, currently trading at around PKR 288 in the open market. For millions of people across the country, buying fruits during the month of Ramzan has become a…

India and China are projected to contribute 50% of global economic growth this year, according to the managing director of the International Monetary Fund (IMF), Kristalina Georgieva. Speaking ahead of the IMF and World Bank's spring meetings, Georgieva…

The Pound Euro (GBP/EUR) exchange rate traded narrowly on Tuesday, showing some weakening overall as the currency pairing stabilised following a volatile Easter bank holiday weekend. At the time of writing, GBP/EUR was marginally down at €1.1383 from…

The International Monetary Fund (IMF) has lowered India's GDP growth forecast for the financial year 2023-24 by 20 basis points to 5.9%. The latest prediction is less than the Reserve Bank of India's projection of 6.4%. Nonetheless, India…

The current account surplus of Russia has declined by 73% to $18.6 billion on an annual basis in January-March, the country's central bank said on Tuesday. The fall has been attributed to the sharp decline in energy revenues,…

According to a new paper by the Australia Institute, the top 10% of earners in Australia have received 93% of the benefits of economic growth between 2009 and 2019, while the bottom 90% received just 7%. This trend…

China's consumer inflation slowed in March, as producer prices continued to decline, creating space for the central bank to ease monetary policy and support the country's economic recovery. According to the National Bureau of Statistics, the consumer price…

The International Monetary Fund (IMF) has warned that the UK economy will be at the back of the G7 countries this year, with the economy expected to contract by 0.3%, and will continue to be affected by the…

Global growth is expected to slow down to two per cent in 2023, according to David Malpass, the President of the World Bank Group. He highlighted several factors such as higher oil prices, inflation pressures, and the recent…

Oil prices dipped in early trade on Thursday, following the release of weak U.S. job openings data, which is seen as a sign of slowing economic conditions that could impact demand. West Texas Intermediate U.S. crude declined by…

The Reserve Bank of India (RBI) Governor, Shaktikanta Das, has said that India's currency account deficit (CAD) is manageable. In the first two months of 2023, India's services exports continued to grow at a healthy pace, and the…

On Wednesday, the Nasdaq Composite extended its losing streak for the third straight session, as investors moved away from growth stocks following indications of a weakening US economy. The tech-heavy index dropped 1.07% to 11,996.86, while the broader…

The Reserve Bank of Australia (RBA) has opted to keep its cash rate unchanged, betting that rate hikes since May 2022 have curbed enough excess demand to send inflation downward. However, if the RBA's wager is incorrect, it…

Mexico's economy is set to grow up to 3.0% in both 2023 and 2024, driven by increased manufacturing investment and cooling inflation, according to the government's latest budget forecasts. The Latin American country is expected to claw back…

Canadian businesses have taken a pessimistic turn, with the outlook turning negative for the first time since 2020, according to surveys by the central bank. The Bank of Canada’s business outlook indicator fell to -1.1 in Q1 2023,…

The Central Bank of Egypt has announced a 2% increase in key policy rates following its scheduled meeting on Thursday. The decision was made in response to the continued rise of inflation in the country. The bank's Monetary…

China's Premier Li Qiang announced on Thursday at China's Boao Forum for Asia (BFA) in Hainan that the country's economy has rebounded from the COVID-19 pandemic. Mr Li added that Beijing will continue to serve as an “anchor…

The US dollar and euro stabilised on Thursday as concerns over the banking sector subsided, with investors now focusing on inflation for hints on central banks' next rate moves. Inflation data from German states, which is used to…

Russian President Vladimir Putin has cautioned the government regarding the potential negative impact of Western sanctions on the country's economy.

During a meeting with Cabinet ministers in Moscow on Wednesday, Putin stated that while Russia…

US Vice President Kamala Harris has unveiled a $1 billion initiative aimed at enhancing women's economic empowerment in Africa. The announcement came during Harris' trip to the continent, which included stops in Ghana, Tanzania, and Zambia. The programme,…

The founder of China Renaissance, Bao Fan, has reportedly disappeared, and one possible reason for this is his search for a safe place to park his wealth.

Bao was in the process of establishing a…

Preliminary government data shows that Bahrain’s economy experienced its fastest growth since 2013, with overall economic output increasing by almost 5 percent in 2021. The growth was mainly fueled by a 6.2 percent expansion in the non-oil sector,…

US Vice President Kamala Harris arrived in Ghana on Sunday for a weeklong visit to Africa, with the aim of strengthening US relations with the continent amid global competition. Harris was greeted by schoolchildren, dancers and drummers as…

The South African rand weakened against the US dollar on Monday, with the exchange rate at 18.2050 at 0635 GMT, representing a 0.26% decline compared to the previous close.

Meanwhile, the dollar index, which gauges…

The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has cautioned that the global economy faces a significant threat to its financial stability due to the turbulence in the banking sector. She cited the pressure on…

Oil prices climbed on Monday as concerns about the global banking system eased and geopolitical tensions flared up. Brent crude futures rose 77 cents, or 1.03%, to $75.76 a barrel at 0731 GMT, while US West Texas Intermediate…

In an article for the Razvedchik news magazine, Russian Foreign Minister Sergey Lavrov stated that the global economy continues to shift its focus from the Euro-Atlantic region to Eurasia, with politics following suit.

Moscow is…

Noel Quinn, the Group Chief Executive of HSBC, met with Guo Shuqing, the Chairman of China's banking and insurance regulator, on Thursday to discuss the global economic and financial situation, according to a statement from the China Banking…

Global professional services firm, Accenture, has announced that it will cut approximately 2.5% of its workforce, or 19,000 jobs, due to a lowered revenue and profit forecast. The company has attributed this decision to the global economic slowdown,…

The second edition of the UK-African Investment Summit is set to take place on April 23 and 24, 2024, hosted by UK Prime Minister Rishi Sunak. Heads of States and Governments from 24 African countries, alongside British and…

The Africa Development Fund has given the green light for a $3.9 million grant to be allocated towards the Liberia payments infrastructure and systems project. The Central Bank of Liberia’s main data center and disaster recovery sites will…

The US Federal Reserve has announced its ninth consecutive interest rate hike, despite concerns that the move could exacerbate financial instability in the wake of two bank failures. The central bank increased its key rate by 0.25 percentage…

The Bank of England (BoE) has announced a quarter-point interest rate increase, taking the base rate to 4.25%, in response to higher-than-expected inflation and positive indications regarding the state of the UK economy. This marks the 11th consecutive…

India's economic activity remained steady in February despite early signs of slowing consumption and concerns over future growth prospects and hawkish monetary policy. Bloomberg's animal spirits barometer, which measures high-frequency indicators, including credit growth, tax revenues, and unemployment…

Uganda's Ministry of Finance has announced that the country's public debt is expected to enter a "declining trend" due to projected strong economic growth of 7%, starting in 2025 when oil production is set to begin.

The Federal Reserve's aim of combating the rapid inflation that has plagued American consumers since 2021 has become increasingly complicated. The expectation of a quarter-point increase in interest rates, to just above 4.75%, on Wednesday has been widely…

FedEx Express, the world's largest express transportation company and a subsidiary of FedEx Corp, has announced the launch of its FedEx International Economy® and FedEx International Economy® Freight services in the Kingdom of Saudi Arabia. The company's deferred…

On Monday, Sri Lanka received a $3 billion loan from the International Monetary Fund (IMF) to alleviate its worst financial crisis in decades. The deal, almost a year in the making, will aim to restore macroeconomic stability and…

South African currency, rand, weakened against the US dollar on Monday as the Marxist Economic Freedom Fighters (EFF) party called for nationwide protests. The rand traded at 18.4350 against the dollar at 0743 GMT, down 0.16% from its…

Nigeria's Central Bank has raised its key interest rate to the highest level since 2006, in a bid to contain inflation and attract foreign investors. The bank has increased its benchmark rate by 650 basis points since May…

Financial authorities in Asia have reassured the public that the recent turmoil at Credit Suisse will not impact the stability of local lenders. The Monetary Authority of Singapore (MAS) has announced that following the purchase of the Swiss…

Germany's economy is projected to contract once again in Q1 of 2023, according to a monthly report by the Bundesbank. Although the decline is expected to be less than in the final quarter of 2022, the country's economy…

The economy of Lebanon is collapsing, and a variety of exchange rates for the local pound have emerged, causing difficulties for personal accounting and hindering the fulfilment of a reform requirement set by the International Monetary Fund (IMF).…

Former finance minister of Qatar, Ali Sherif al-Emadi, will face trial over allegations of embezzlement, according to a statement by the state-run Qatar News Agency (QNA) on Sunday. Al-Emadi was arrested in May 2021, but little information has…

On Monday, March 20, the UK signed a significant digital trade agreement with Ukraine, aiming to support Ukraine's economy and bolster the UK-Ukraine trade and investment relationship. The Department for Business and Trade hosted a conference called the…

According to a report presented by the United Nations Economic Commission for Africa (UNECA) on Wednesday, Africa's economy is expected to grow 3.9% in 2023 from 3.6% in 2022. Despite the GDP growth declining from 4.6% in 2021…

New Zealand's economy shrank 0.6% in Q4, according to official data released on Thursday, missing analysts' estimates and raising the likelihood of a recession. Gross domestic product fell below the Reserve Bank of New Zealand's estimate of 0.7%…

Sri Lanka's economy experienced a record contraction of 7.8 percent in 2022, according to official data released by the state-run census and statistics department on Thursday. The figures showed that the GDP of the island country shrank by…

The European Union (EU) and Thailand have announced the resumption of negotiations for a free trade agreement (FTA), with a focus on sustainability. This development emphasizes the EU's commitment to the Indo-Pacific region and its trade agenda, while…

BT Group's activities reportedly contributed £690 million to Northern Ireland's wider economy and supported more than 7,300 jobs in 2021, according to a report by consultancy firm Hatch. The study analysed the spending of BT Group employees and…

Egypt’s economy is predicted to grow by 4.2 percent in the current fiscal year ending in June, the cabinet announced on Tuesday. This is considerably less than the previously anticipated growth rate.

According to the…

During his closing speech at China’s National People’s Congress, President Xi Jinping stated his intentions to transform the Chinese military into a “Great Wall of Steel”, capable of protecting China’s interests overseas while emphasising the need for greater…

The U.S. Bureau of Labor Statistics released data on Tuesday indicating that price growth slowed to an annual rate of 6% in February. This reading was lower than January’s 6.4% year-over-year level, and in line with economists’ forecasts.…

The Central Bank of Nigeria (CBN) has announced that old banknotes will continue to be legal tender until the end of the year to comply with a court order issued earlier this month. The move has raised hopes…

According to a report released by the World Bank on Monday, African countries must increase their adoption of digital technologies to speed up economic growth and generate better employment opportunities for the youth. The report, titled "Digital Africa:…

The Russian economy has withstood the extensive Western sanctions, which aimed to damage Moscow's war chest. Ordinary Russians' economic lives have been largely unchanged, with no mass unemployment, currency drops, or collapsing banks. The assortment of goods in…

Argentina, the world's largest exporter of processed soy and the third-largest for corn, is grappling with a severe drought that is jeopardizing the country's economy. The drought is the worst in 60 years, resulting in sharp reductions in…

On Friday, the US Labor Department released its monthly employment snapshot, revealing that the US economy added 311,000 jobs in February. While this number marks a drop from the 504,000 positions added in January, the latest report demonstrates…

UK Prime Minister Rishi Sunk has said that confidence is returning to the country's economy following official figures that showed the economy grew by more than expected in January. The economy expanded by 0.3% in January, bouncing back…

A new report by Moody's Analytics highlights the potential economic gains from closing the gender pay gap. The study suggests that narrowing the wage differential between men and women could boost the global economy by about $7 trillion…

Jan Kubicek, a new board member of the Czech National Bank, has said that the bank’s current interest rate setting is enough to bring inflation down this year if wages do not accelerate or if the crown does…

The France CAC40 began the week on a positive note, hitting a new high of 7,401, while the FTSE100 struggled due to disappointment over China's 2023 GDP target. The Chinese government's modest target of 5% suggests a focus…

The Government of Alberta has released its 2023 Capital Plan, revealing a nearly $23 billion investment in infrastructure over three years. The budget document indicates that the largest allocations will go towards municipal infrastructure support, capital maintenance and…

Saudi Arabia has agreed to deposit $5 billion into Turkey's central bank through its Saudi Fund for Development. This move is part of Saudi Arabia's commitment to supporting Turkey's efforts to strengthen its economy, as stated in the…

Last week, Eurozone inflation fell less than expected, despite a drop in energy prices. The inflation rate fell from 10.6% in October to 8.5% in February, but economists had forecast a more significant drop to 8.2%. Meanwhile, core…

The Indian High Commission in Colombo has announced the use of Indian rupees for cross-border transactions with Sri Lanka, allowing for tourism accounts and the potential for expanding to trade and capital transactions. The Bank of Ceylon, State…

Tunisian Foreign Minister, Nabil Ammar, held a phone call with his Italian counterpart, Antonio Tajani, to discuss the economic and political situation in Tunisia. Tajani expressed Italy's commitment to supporting Tunisia economically and politically in its democratic transition.…

The European Commission has released its latest forecast for the region's economy, predicting that it will narrowly avoid a recession this year. The report offers a glimmer of hope in the face of an uncertain landscape that remains…

According to the European Commission, inflation levels in Europe have eased as winter draws to a close, although some of the largest economies in the Eurozone have reported troubling increases. The annual rate of consumer prices in the…

Foreign ministers from the Group of 20 (G20) nations gathered in New Delhi on March 1 for a two-day meeting hosted by India. The meeting is expected to focus on climate change and the “de-risking” of the global…

A recent study conducted by the Central Bank of Malta has revealed that oil shocks have a more significant impact on the country's economy than shipping industry shocks. The study examined the effects of global oil price swings…

The United Kingdom and the Republic of Singapore have signed a Memorandum of Understanding (MoU) to establish a bilateral Green Economy Framework, combining elements of climate, economic, and trade policy. The agreement was signed during a virtual call…

The United Kingdom's Foreign Secretary, James Cleverly, is in India to announce the launch of the Young Professionals Scheme, which will allow up to 3,000 Britons and 3,000 Indians per year to live and work in each other's…

The Australian economy grew by 0.5% in the final three months of 2022, according to the National Accounts figures released by the Bureau of Statistics. However, the growth rate was lower than most economists' predictions, and while annual…

India's Gross Domestic Product (GDP) growth slowed to a three-quarter low of 4.4% in the October-December period of 2022-23 due to a contraction in manufacturing, weaker private consumption demand and government expenditure, according to data released by the…

The Prudential Regulation Authority (PRA), which oversees the regulation of banks in the United Kingdom, is planning to propose new rules on issuing and holding digital assets, according to Vicky Saporta, Executive Director of Prudential Policy at the…

The People’s Bank of China (PBOC) has revealed that it will continue to use structured monetary policy tools in its latest quarterly monetary policy report. The policy will channel credit towards specific sectors of the economy. The bank…

The German economy experienced a decline of 0.4% in gross domestic product (GDP) during the fourth quarter of 2022, compared to the previous quarter, according to Federal Statistical Office Destatis. The early figures suggested a milder decline of…

Investors in European markets saw gains turn to losses on Friday, as they examined company earnings and data releases. The pan-European Stoxx 600 index finished the day down by 1%, with mining stocks and travel and leisure stocks…

On Friday, the Financial Action Task Force (FATF), an intergovernmental policy-making body that seeks to combat money laundering and the financing of terrorism, added Nigeria and South Africa to its “grey list” of countries that need to intensify…

The UAE’s Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al-Zeyoudi, has met with Spanish Secretary of State for Trade, Xiana Mendez, to discuss ways to boost economic cooperation and diversify into sectors of common interest.…

The state auditor in Congo has demanded an additional $17 billion of investments from a 2008 deal with Chinese investors, which is currently under negotiation. The deal in question involves Sinohydro Corp and China Railway Group, who agreed…

Wall Street had a challenging day on Tuesday, with the S&P 500 and the Nasdaq Composite losing ground for the third day in a row, while the Dow Jones Industrial saw its gains for 2023 wiped out. These…

The French economy grew in February for the first time since October, according to a survey by S&P Global. The company's flash reading for the purchasing managers' index (PMI) for the French services sector rose to 52.8 points…

The UK economy is expected to avoid recession if the latest survey by S&P Global PMI is anything to go by. The survey indicates that UK private sector firms signaled a solid rebound in business activity in February,…

Spain's informal economy, also known as black money, has been rising steadily since the beginning of the pandemic, with an increase of 9.74% from 2019 to 2021, according to a recent report by the European Parliament. This percentage…

Hong Kong's Financial Secretary Paul Chan announced a HKD 761 billion (USD 97 billion) budget on Wednesday aimed at reviving the pandemic-hit economy and repairing the city's image. The budget includes tax cuts, spending vouchers, and programmes designed…

The Reserve Bank of New Zealand (RBNZ) has announced an increase in interest rates to a 14-year high of 4.75%. The bank indicated that it intends to continue tightening further, as inflation remains too high. The decision came…

On Wednesday, February 22, the Reserve Bank of India's Monetary Policy Committee (MPC) is set to release the minutes of its first review of 2023. The release of these minutes comes on the same day the RBI announced…

Oil prices saw an increase on Monday as optimism rose over China's demand recovery. Brent crude rose 41 cents, or 0.49 percent, to $83.41 a barrel, while US West Texas Intermediate crude was up 35 cents to $76.69…

Saudi Arabia recently discussed ways to bolster economic cooperation with various European countries during its participation in the ministerial meeting of the Organization for Economic Cooperation and Development in Paris, France. The meeting focused on responsible business practices…

Algerian Ambassador to Saudi Arabia, Mohamed Ali Boughazi, has expressed his country's eagerness to enhance economic cooperation with the Kingdom, according to a recent interview with Asharq Al-Awsat. Boughazi declared that Algeria would strive to increase the level…

According to Germany's central bank, the country's economic outlook is improving thanks to a decline in energy prices and a rebound in the global economy. In its latest monthly report, the Bundesbank claimed that, despite persistent high inflationary…

A new poll conducted by Savanta has shown that a majority of British people believe that Brexit has had a negative impact on the UK economy. The survey of 2,201 people conducted between February 10th and 12th, 2021…

The International Monetary Fund (IMF) has urged Pakistan to take steps to prevent debt restructuring, reported The News International. The country has been reeling from floods that have affected one-third of its population. Kristalina Georgieva, managing director of…

Pakistan's current account deficit (CAD) has reduced to $0.2 billion in January 2023, marking a 90% decline from last year, as per the central bank's announcement on Monday. The reduction was due to the depreciation of the Pakistani…

Egyptian Foreign Minister Sameh Shoukry delivered a speech on behalf of President Abdel Fattah Al-Sisi at the 36th African Summit held in Addis Ababa, Ethiopia. The Foreign Ministry spokesman, Ambassador Ahmed Abu Zeid, said the speech addressed the…

The African Union (AU) has announced that it will launch a debt status data bank to monitor and advise member states on potential financial distress. The decision, made in Addis Ababa, will aid member states in improving their…

KPMG, one of the world's largest accounting firms, is set to cut nearly 2% of its US workforce, affecting around 700 employees, according to recent reports. KPMG will be the first of the Big Four accounting firms to…

Lebanon’s economic crisis has deepened, with the Lebanese pound plummeting to an all-time low of 80,000 to the dollar, leading to widespread protests across the country. In the capital, Beirut, protesters set fire to banks, blocked roads and…

Italy registered a trade surplus with the rest of the world in December 2022, worth 1.067 billion euros, compared to a deficit of 1.475 billion euros in the same period of the previous year, according to national statistics…

Greece's economy grew steadily in the first half of 2022, but inflation dampened growth in the latter half. The nation's government cushioned the impact of rising energy prices on businesses and households' real incomes, and the Recovery and…

Thailand's economy shrank unexpectedly in the fourth quarter due to a fall in exports, though officials have stated that a recession will be avoided this year thanks to a rebound in tourism. According to the National Economic and…

German multinational conglomerate Siemens has issued a digital bond worth €60m, with a maturity of one year, underpinned by a public blockchain. It is one of the first companies in Germany to issue a blockchain-based digital bond since…

The inflation rate for January shows a de-acceleration of inflation for the seventh consecutive month, with the relief attributed to lower costs for used vehicles. The consumer price index data, released on Tuesday, indicates a 6.4% increase in…

President Joe Biden has announced several changes to his economic team in a Tuesday White House press release, with Lael Brainard, the current vice chair of the Federal Reserve, appointed as director of the National Economic Council (NEC).…

The Turkish government has ordered private pension funds to increase their holdings of Turkish stocks in an attempt to bolster financial markets. This decision comes after the Bist 100 equity index tumbled 18% this year due to investor…

Abu Dhabi’s economy expanded by 10.5% in the first nine months of 2022, the fastest rate of growth in the Middle East and North Africa region, largely driven by a strong performance in the non-oil sector, according to…

The British government is reportedly considering a deal that would put an end to a recent wave of strikes among public sector workers. Prime Minister Rishi Sunak and Finance Minister Jeremy Hunt are said to be exploring a…

Singapore’s Deputy Prime Minister and Finance Minister Lawrence Wong has delivered the Budget 2023 speech, where the government aims to invest around S$104.2bn in various sectors to transform the country into a new era of global development. Wong…

Manufacturers in Nigeria have expressed declining confidence in the country's business environment due to the adverse effects of the Consumer Price Index (CPI), the continuous erosion of the Naira's value, and difficulties in accessing foreign exchange. In addition,…

Officials from China, India, Saudi Arabia, and the Group of Seven (G7) wealthy nations are scheduled to attend the first-ever virtual meeting of the new sovereign debt roundtable on Friday, according to three sources familiar with the plans.…

According to a study by senior Bank of England official Jonathan Haskel, the UK has suffered a loss of business investment worth £29bn since the Brexit referendum of 2016, equivalent to £1,000 per household.

Haskel,…

The Nikkei share average in Japan climbed on Tuesday, taking cues from a strong performance by Wall Street overnight. Investors were positioning themselves ahead of the release of crucial US inflation data, which could determine the direction of…

The Treasury market is warning that a looming economic downturn may be imminent, despite a tight labour market. On Friday, benchmark 10-year Treasury yields reached 3.74%, while two-year yields increased to 4.5%, resulting in an inverted yield curve.…

The US dollar stood close to a five-week high against major rivals on Monday, supported by a surge in bets for continued Federal Reserve policy tightening before the release of a significant consumer price report. The Japanese yen…

The increasing appetite to list on Saudi bourses is a reflection of the robust market performance of the G20 economies, according to a top executive of a financial advisory and asset management firm. Speaking at the second edition…

Pakistan has failed to unlock $1.1bn in funds from the International Monetary Fund (IMF) following 10 days of discussions aimed at preventing the country from going bankrupt. The move comes amid fears for the economy in a key…

The Ministry of Trade and Industry (MTI) has announced that Singapore's economy is expected to grow between 0.5% and 2.5% in 2023. This range was maintained despite slower-than-expected growth in 2022, with the economy expanding by 3.6%, down…

India’s retail inflation increased in January after two consecutive months of decline, largely due to higher food prices. According to data from the Ministry of Statistics and Programme Implementation, retail inflation surged to 6.52% in January, up from…

Zambia has turned down China's invitation for the World Bank to join its debt restructuring efforts. In an interview, Zambia's finance minister Situmbeko Musokotwane said that the country is aiming to repay a $13bn loan in 2023, three…

The African Development Bank has predicted that 53 of the 54 African nations will maintain a positive growth trajectory and a stable outlook by 2023/24, despite numerous shocks. Prof. Kevin Urama, Vice President for Economic Governance and Knowledge…

The price of gold saw a slight increase in an unpredictable market session on February 8th, 2023, as investors eagerly await further economic data to make sense of the U.S. Federal Reserve's rate hike plan. At 3:19 p.m.…

Dubai Chamber of Digital Economy, one of the three chambers under Dubai Chambers, recently held a session on the fintech sector as part of its ongoing interactive workshop series. The session aimed to address the challenges and opportunities…

The Egyptian government has announced its intention to sell stakes in at least 32 companies by the end of March 2024, according to Prime Minister Mostafa Madbouly. The companies up for sale include Banque du Caire, United Bank…

In 2022, the world witnessed an unprecedented financial boom for the five largest Western oil companies: ExxonMobil and Chevron from the US, Shell from Anglo-Dutch, BP from the UK, and TotalEnergies from France.

These firms…

CAPMAS, the Egyptian statistics office, has released data showing that the nation's annual urban consumer price inflation has surged higher than expected in January, reaching 25.8%, the highest rate in over five years.

This spike…

Nigeria is demonstrating a growing interest in Artificial Intelligence (AI), according to recent search trends released by Google. In 2022, AI related searches reached a record high not just in Nigeria but globally. The most popular queries among…

President Biden delivered his State of the Union address yesterday, highlighting the current state of the US economy and the country's stance on foreign relations. Despite the disruptions caused by COVID-19 and the invasion of Ukraine by Russian…

Borsa Istanbul, the stock exchange in Turkey, has experienced a significant drop since Monday as a result of the recent earthquakes in the southern part of the country. Despite the benchmark stock index BIST 100 decreasing by seven…

Amazon has established a new academy in Saudi Arabia to support the kingdom's human capital program for the digital economy. In collaboration with the Ministry of Communications and Information Technology, the academy will be run by the Saudi…

France and Germany's economy ministers, Bruno Le Maire and Robert Habeck, have returned from a meeting in Washington with U.S. Treasury Secretary Janet Yellen and Commerce Secretary Gina Raimondo with few specific agreements over concerns surrounding subsidies for…

The Cabinet Office of Japan has released its annual economic report, highlighting the challenges faced by consumers in the country, particularly the younger generation. According to the report, inflation has risen twice as fast as the Bank of…

The Asian markets closed higher on Tuesday, offering a glimmer of hope for investors who have been on edge due to the recent sell-off in the wake of rising concerns about U.S. interest rates. This month's market rally…

South African President Cyril Ramaphosa has announced that the country's electricity crisis has significantly impacted its mining industry, a crucial component of the South African economy. Ramaphosa made the declaration while speaking at the Investing in African Mining…

The International Monetary Fund (IMF) has stated that St. Kitts-Nevis is showing a positive economic outlook, however, the organization has warned the twin island federation of potential downside risks in the short term. These risks stem mainly from…

Goldman Sachs has revised its estimate of the likelihood of a US recession, reducing it from 35% to 25%. This new estimate is significantly lower than the 65% consensus from the recent Wall Street Journal survey. The adjustment…

The Arab region is moving forward in the transition to green energy, as highlighted by Rola Dashti, the executive secretary of the UN Economic and Social Commission for Western Asia. During her speech at a session titled "Energy,…

The European Commission is proposing to offer up to €100 million in Macro-Financial Assistance (MFA) to North Macedonia. This proposal is a show of support for the country during difficult times, as its economy has been negatively impacted…

According to a recent report by Goldman Sachs, the reopening of China’s economy and a full recovery in its domestic demand are expected to have a positive impact on global output. The report estimates that this may result…

Indonesia experienced its strongest economic growth in nine years in 2022, with the lifting of pandemic restrictions and a global commodity boom boosting the country's performance.

The Southeast Asian nation, known for its thermal coal,…

According to the South African Reserve Bank, the electricity crisis in South Africa is costing the economy up to R899 million per day. Rolling blackouts, which last anywhere from 6 to 12 hours a day, are detracting anywhere…

The United States job market started 2023 with a remarkable performance, as nonfarm payrolls recorded their strongest growth since July 2022, according to a report from the Labor Department. On Friday, the report showed that nonfarm payrolls increased…

The Saudi Arabian Monetary Authority (SAMA) has increased its interest rate by 25 basis points to 5.25 percent, in line with the Federal Reserve's move to combat inflation. The Reverse Repo rate has also been raised to 4.75…

Pakistan is currently facing a major economic crisis and is in dire need of financial aid from the International Monetary Fund (IMF). An IMF delegation arrived in Pakistan on Tuesday for talks to revive the aid that has…

The Japanese economy appears to have returned to growth in the last quarter of 2022, as the country started to reopen to tourists, according to a recent poll conducted by Reuters. The results showed that Japan's economy grew…

The International Monetary Fund (IMF) has revised its projection for Nigeria's 2023 economic growth rate, now forecasting a growth of 3.2 percent. This marks an increase of 0.2 percentage points from its previous projection of 3.0 percent, outlined…

Argentina's economy is expected to slow down in 2023 with a growth rate of only 2%, according to the latest World Economic Outlook update from the International Monetary Fund (IMF). This is a significant decrease from the previous…

The Federal Reserve has made its latest move in the ongoing balancing act between controlling inflation and avoiding a recession. The central bank increased its key short-term interest rate by a quarter of a percentage point, a move…

Saudi Arabia has recently emerged as the fastest growing major economy in the world, with its non-oil sector exhibiting a surge in growth rates. The country's non-oil economy grew by an impressive 6.2% in the last quarter of…

European economy showed only modest gains at the end of 2022 as rising inflation and Russia's invasion of Ukraine impacted consumer spending, according to Eurostat, the European Union statistics agency. The economy grew by 0.1% in the last…

In a blow to the Lao economy, inflation has risen steeply, with the country’s national currency, the kip, experiencing a significant decline. The root causes of these issues can be attributed to structural vulnerabilities that have been present…

Tanzania is among a select group of African nations poised to experience a strong economy this year, according to the African Development Bank (AfDB). In a report entitled "Africa's Macroeconomic Performance and Outlook," the AfDB forecasts that five…

The European Central Bank (ECB) is facing a dilemma as the inflation rate in the euro-area slows more than expected. According to Eurostat, January's inflation rate came in at 8.5%, which is lower than the economist's predictions of…

According to a new report released by the World Bank, Myanmar's economy is predicted to grow by 3% by the end of the current fiscal year. However, the report, titled "Myanmar's Economic Monitor: Navigating Uncertainty," states that the…

Manufacturing activity in Asia is showing signs of improvement as the region becomes increasingly optimistic about China's reopening and its ability to offset a gloomy global outlook. According to data from S&P Global Manufacturing Purchasing Managers' Indexes, factories…

Chancellor of Germany, Olaf Scholz, continues his Latin America tour with a visit to Chile, where he met with President Gabriel Boric.

The German government aims to diversify its economic partnerships, strengthening ties with democratic…

On the second day of the federal cabinet retreat, Prime Minister Justin Trudeau and his cabinet received a sobering outlook on Canada's economy from three renowned economists. Kevin Milligan of the University of British Columbia, Carolyn Wilkins of…

President Abdel-Fattah Al-Sisi of Egypt visited Azerbaijan for the first time recently and met with his counterpart, President Ilham Aliyev. The two leaders discussed enhancing bilateral relations, addressing regional and international issues, and signed several joint memorandums of…

The Irish economy showed significant growth in the fourth quarter of 2022, according to an estimate from the Central Statistics Office. The economy expanded by 3.5% compared to the previous quarter, and saw a growth of 13.5% compared…

The South Korean economy shrank in the final quarter of 2022, marking the first contraction since Q2 2020, as exports dropped and consumer spending decreased due to rising interest rates, according to the Bank of Korea. The country's…

The United Nations projects that the Nigerian economy will grow by 3% in 2023, despite the challenges of high inflation and poor power supply in the country, according to the report "2023 World Economic Situation and Prospects."

Japan's economy has been hit by a slowdown in global demand for technology and semiconductors, as well as the recent resurgence of COVID-19 infections in China. As a result, the government has downgraded its view of the overall…

Stocks in the Asia-Pacific region traded higher on Friday as traders responded to Tokyo's January core consumer prices, which rose 4.3% - the highest rate for Japan's capital since mid-1981.

The Nikkei 225 ended the…

Bahrain's fiscal balance program announced in October 2021 is on track, according to the World Bank. The program has led to an increase in revenues during the first half of 2022, which has compensated for increases in spending,…

Kenya is set to be replaced as the third-largest economy in sub-Saharan Africa by Angola and Ethiopia, which will weaken the East African country's ability to attract investors with its growing consumer base. According to projections by the…

As the New Year begins, many restaurants are facing a familiar problem: labor shortages. Chipotle, a popular fast-food chain, recently announced that it is looking to hire 15,000 people in North America to ensure that its stores are…

El Salvador has successfully repaid one of two outstanding $800 million bonds, according to the country's Treasury Minister, Alejandro Zelaya. This news comes as a relief to investors who were worried that the government could default on its…

Spain's economy has grown faster than expected in 2022, with GDP rising by 5.5%. According to official data released on Friday, Spain's GDP grew by 0.2% in the fourth quarter of 2022, compared to the previous quarter, and…

As the economy of Chile continues to show signs of resilience, the country's central bank is expected to keep its benchmark interest rate unchanged for a second consecutive meeting.

Despite this, many traders predict that…

The US economy expanded again during the fourth quarter, registering growth to end 2022 even as consumers and businesses battled inflation and historically high interest rates. Gross domestic product (GDP) - the broadest measure of economic activity -…

Professional services network EY has launched a climate change readiness index to help countries in the Middle East and North Africa (MENA) assess, evaluate, and boost their efforts to fight climate change.

The index measures…

The German government has announced that it expects the country's economy to grow slightly in 2023, instead of a decline as previously expected. This is due to the country's efforts to manage its energy transition away from Russia…

The Philippines has seen one of the strongest expansions in Asia, despite facing price and interest-rate pressures, due to robust spending which has boosted growth by the most since the 1970s. According to the Philippine Statistics Authority, gross…

The South African Reserve Bank (SARB) decided to increase its main lending rate, also known as the repurchase rate, by 25 basis points to 7.25%. This means that the interest rate at which banks borrow money from the…

Brazil's federal revenue authority (RFB) has finally adopted OECD Transfer Pricing Guidelines on December 28, 2022. The draft legislation is still pending approval by the Brazilian legislative branch. However, if passed, the new regulations will become mandatory starting…

A recent gauge of economic activity suggests that the United States may be headed for a recession in the near future. The Conference Board's Leading Economic Index, which tracks several key indicators of the economy's trajectory, dropped in…

Mexican Economy Minister Raquel Buenrostro met with Canadian firms to discuss the progress of energy agreements made at a meeting with President Andres Manuel Lopez Obrador, according to the Mexican economy ministry.

The Canadian firms,…

A member of the Monetary Committee of the Bank of Israel has resigned over the government's plan to overhaul the judiciary system, according to reports. The proposed reforms, which Prime Minister Benjamin Netanyahu says will rein in the…

The European Commission has proposed increasing ongoing financial assistance to the Republic of Moldova by up to €145 million, bringing the total amount of support to €295 million. The proposal is intended to support Moldova as it continues…

The cost of shipping goods from China has reached its lowest point in over two years as the global economy struggles, potentially impacting the profits of container carriers that saw record profits during the pandemic. According to Drewry,…

Brazil and Argentina are set to announce their intention to begin preparatory work on a common currency at a summit in Buenos Aires this week. The move, which could eventually create the world's second-largest currency bloc, will be…

According to a recent survey by the National Association for Business Economics (NABE), the likelihood of a recession in the United States has decreased over the past three months. The Business Conditions Survey revealed that 53% of respondents…

The Middle East has seen the strongest increase in international arrivals in 2022, according to the UN's World Tourism Organization (UNWTO), signaling a rebound for the tourism sector to pre-pandemic levels this year.

The UNWTO…

European stock indexes saw a slight increase in early trading on Monday, driven by hopes that inflation may have peaked and a softening of expectations for future Federal Reserve rate hikes. The MSCI World Equity index was up…

Pakistan's central bank, State Bank, has raised its key interest rate by 100 basis points to 17% in an effort to curb persistently high inflation. This increase brings Pakistan's benchmark rate to its highest level since October 1997.…

Peru's central bank has extended its biggest-ever phase of monetary tightening in an attempt to curb a spike in inflation. The bank raised its benchmark rate by 0.25 percentage points to 7.75%, the highest level in more than…

Mexico's economy expanded by around 3% in 2022, according to a statement by Finance Minister Rogelio Ramirez de la O.

The statement highlighted that the country's economy saw a significant rebound last year, as tourism,…

A new report from the National Insurance Institute (bituah leumi) states that 522,000 families in Israel are currently living with food insecurity, half of them severely so, despite a slight decrease in poverty and income inequality. The survey…

In 2022, 42,500 French businesses closed down, representing a 49.9% increase in insolvencies compared to 2021, according to a report by a renowned data analytics consultancy. This record figure is a result of the poor economic recovery since…

Cambodia's economy continues to grow despite the volatile situation of Covid-19, according to Ky Sereyvath, an economist and director general of the Chinese Academy of Sciences of the Royal Academy of Cambodia. He stated that while the National…

The African Development Bank (AfDB) has predicted that Africa's economic growth will stabilize at 4% over the next two years, and inflation will slow as the continent rebounds from the pandemic and external shocks such as the Ukraine…

Brazil's newly elected President Luiz Inacio Lula da Silva plans to end the industrial tax IPI, according to Vice President Geraldo Alckmin. The IPI tax is imposed on companies that manufacture and import products such as refrigerators, cars,…

A new report by Deloitte Canada indicates that Canada is expected to experience a deeper recession than previously expected this year as a result of the Bank of Canada's rapid interest rate hikes and the slowing U.S. economy.…

Qatar's inflation rate rose by 5.93% year-on-year in December 2022, largely due to an increase in the prices of recreation and culture, according to data from the Planning and Statistics Authority. The Consumer Price Index, a comprehensive measure…

On Tuesday, European shares took a dip, pausing from their sharp rally that began at the start of the year. This was due to China posting its weakest annual economic growth in almost half a century, which has…

The International Monetary Fund (IMF) has released a new report that states that fragmentation in the global economy could cost up to 7% of GDP. The report highlights the various challenges that policymakers face today, and states that…