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The Latest Breaking News from Economic Growth

Soaring energy bills 'price worth paying' to stand up to Putin, says Liz Truss

Prime Minister Liz Truss claimed higher costs were worth the pain so the UK did not rely on regimes such as Russia, which has been accused of 'blackmailing' Europe over gas supplies

Daily Mirror

Liz Truss warned corporation tax cuts have not fuelled investment

‘Race to the bottom’ on tax on company profits has failed to boost economic growth, says IPPR

The Guardian - UK

Minimum wage hike seen reducing poverty in Thailand

Krungthai Compass, a research unit under Krungthai Bank, expects the minimum wage increase to reduce the number of poor workers, improve their income, and broadly support long-term Thai economic growth.

Bangkok Post

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The gender pay gap, hard truths and actions needed

Asymmetries abound in India’s labour market and closing the gap is key to achieving social justice for working women

The Hindu

Monthly economic review | India’s growth to be sustained by consumer spending rebound

Private consumption rates had helped private-sector capital expenditure reach one of its highest levels in the last decade, said the report

The Hindu

Why it's not anti-environmental to be in favour of economic growth

In the midst of today’s cost of living crisis, many people who are critical of the idea of economic growth see an opportunity. In their recent book The Future is Degrowth, for example, prominent advocates Matthias Schmelzer, Aaron Vansintjan and Andrea Vetter argue that the post-Covid inflation has predominantly been…

The Conversation

Invasive reptile and amphibian species are causing billions of dollars in damages globally

Economic growth and globalization have connected the world’s most distant places. Rapid trade and transport have boosted economic growth globally, but not without consequences: many species have been introduced to new regions, far from where they evolved.

The Conversation

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Asian Markets Rally, Dollar Dips as Traders Price in Policy Tightening

Asian markets rallied Friday following a healthy performance on Wall Street, with investors largely pricing in more interest rate hikes aimed at taming runaway inflation. The more confident mood was reflected in a dip in the dollar, which has surged in recent weeks to multi-decade highs against its major peers…

Asharq Al-Awsat

Tom Scholar, permanent secretary to the Treasury, sacked by Liz Truss

Government likely to seek replacement amenable to its plans of economic growth through tax cuts

The Guardian - UK

'Harsh winter ahead' could stifle Scottish economic growth

Scotland’s productivity is the third highest off all UK regions and nations, yet still remains below the UK average

Insider UK

Fed's Brainard: Rates to rise higher, stay elevated longer

A top Fed official says the Federal Reserve will need to continue lifting its short-term interest rate to a level that restricts economic growth and keep it there for an extended period

The Independent UK

Kwasi Kwarteng assures City of support for Bank of England independence

New chancellor promises City bosses ‘radical’ plan for economic growth and smooths over Truss’s threat to review Bank’s remit

The Guardian - UK

Consumers drive the economy by spending savings, but inflation is set to hit hard

A massive number of Australians spending their lockdown savings on holidays and eating out drove above-trend economic growth over the June quarter.

The New Daily

Taiwan’s Economic Slowdown (Part 1): Taiwan’s Wages Are Growing Too Slowly to Allow Profits Grow

Taiwan’s issue isn’t that consumer prices are growing too quickly. It’s that wages are growing too slowly.

The News Lens

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ABC News

Jim Chalmers warns GDP figures don't 'tell the full story about our economy' — as it happened

Treasurer Jim Chalmers said while the latest economic growth figures are "solid", they don't show the increasing financial pressures facing Australians. Look back on Wednesday's updates.

The Guardian - UK

How was Liz Truss’s first speech as prime minister? Our panel’s verdict

From energy and the NHS to economic growth, she has set out her priorities, if not the means of achieving them

Reuters

Britain's new PM Truss says she will tackle problems immediately

Britain's new prime minister, Liz Truss, said on Tuesday she would start tackling her three priorities immediately to spur economic growth by cutting taxes, offer help with energy bills and secure supply and tackle the public health service.

Asharq Al-Awsat

Saudi Non-oil Economy Reaches Highest Level since October 2021

Saudi Arabia’s non-oil economic growth reached a 10-month high in August, according to the latest Purchasing Managers Index (PMI) data from S&P Global. The Kingdom’s PMI climbed to 57.7 in August, up from 56.3 in July and the highest since October 2021.

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The Independent UK

Asian stocks mixed after China promises to boost growth

Asian stock markets are mixed after China promised to speed up policy changes to boost anemic economic growth and Australia's central bank raised its benchmark interest rate

The Independent UK

Asian markets mixed after China promises economic support

Asian stock markets are mixed after China promised to speed up the rollout of policy changes to boost anemic economic growth

Bangkok Post

A prescription for healthier policy

A healthy population is both a cause and a result of economic growth and development. But achieving both today requires finance ministers to leave their comfort zones.

Bangkok Post

Cross-border trade poised to hit B1.80tn

Despite slower economic growth in neighbouring countries and zero-Covid measures in China, Thailand's cross-border trade is still expected to grow by at least 5% this year to 1.80 trillion baht, driven by greater demand for gasoline, edible oil, tyres and auto parts.

Asharq Al-Awsat

Saudi Arabia Seeks to Support Future Economies, Bridge Digital Divides

Eng. Abdullah Al-Swaha, Saudi Minister of Communications and Information Technology, said on Thursday the Kingdom has taken bold steps to support future economies and innovation. The minister revealed efforts to bridge the digital divide and to foster green energy projects in the northwestern NEOM region. He stressed that the Kingdom’s…

The Independent UK

Veteran Malaysian journalist Subramaniam Harihar dies at 79

Subramaniam Harihar, a longtime journalist in Malaysia who covered the country’s period of extraordinary economic growth for The Associated Press, has died at age 79

Tribune News Service

US jobless claims decline for a third week to a two-month low

Applications for U.S. unemployment insurance fell for a third week to a two-month low, suggesting healthy demand for labor even as economic growth moderates.

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