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The Latest Breaking News from Economy

Saudi Arabia Set to Become World’s Fastest-Growing Major Economy in 2023

Saudi Arabia is set to overtake India as the fastest-growing major economy in 2023 after the latter lost growth due to weak demand at home and abroad. The Kingdom’s real gross domestic product grew by 8.8 % in the third quarter of 2022 compared to the same period in 2021,…

Asharq Al-Awsat

Port bottlenecks cost economy $600m a year

Inefficiencies in Australian ports cost the economy $600 million a year and push up prices for consumers, a new report by the Productivity Commission has found.

AAP

Putin’s energy gambit fizzles as warm winter saves Europe

Russian President Vladimir Putin’s plans to squeeze Europe by weaponizing energy look to be fizzling, at least for now.

Tribune News Service

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Plant-based plastics may not be as eco-friendly as they seem

Growing crops to make plastic could reduce reliance on fossil fuels, but at an enormous environmental cost.

Inverse

How migrant entrepreneurs find their way in South Africa

The pros and cons of the informal economy and how migrant business spaces are initiated and expanded.

360info

New decrees to target tech crime, scams

A regulation aimed at preventing and suppressing technology crime is set to be submitted to the cabinet this month, says Digital Economy and Society (DES) Minister Chaiwut Thanakamanusorn, as the ministry moves to tackle online scams as a priority agenda item in 2023.

Bangkok Post

Economists fret over perils ahead for global growth

The world economy looks to be transitioning to a more difficult era in which interest rates will be higher, geopolitical tensions greater and uncertainties more pronounced.

Tribune News Service

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German Economy Minister: can't rule out deliveries of Leopard tanks to Ukraine

Germany cannot rule out the delivery of Leopard tanks, heavier fighting vehicles than the Marders, to support Ukrainian militry forces in the future, the country's economy minister told German broadcaster ARD.

Reuters

Economy, energy row and drugs loom at North American summit

North American leaders aim to give new impetus to strengthening economic ties at a meeting this week, even as a major dispute grinds on over Mexico's energy policies which has distracted from cooperation on other issues like immigration.

Reuters

No matter their differences, Starmer and Sunak face the same obstacle

Whether it’s Labour plan for renewal or the Tory path to recovery, both remain hostage to circumstance in 2023

The Guardian - UK

Bristol City Council's planning backlog is badly 'impacting city's economy'

City Hall's planning department has 'ground to a halt' with at least four months to even get assigned a planning officer

Bristol Post

Aussie experts head to Saudi mining forum

An Aussie contingent has top billing in Saudi Arabia as the oil state looks beyond "black gold" to critical minerals needed for a cleaner world economy.

AAP

Thailand Welcomes Tourism, Economic Progress, Looks Ahead to 2023 Elections

Experts say the elections could promote further economic growth and create stability for the kingdom.

The News Lens

DUP slammed for 'cherry-picking' health report to attack Northern Ireland Protocol

The DUP did not mention that the report concludes Brexit is having "negative effects" on the UK's workforce, medicines and economy

Belfast Live

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The Independent UK

Kevin McCarthy’s concessions to far-right Republicans risk tanking the global economy

The US defaulting on its debt would risk tanking the US and global economy

Tribune News Service

If economy slows, Stellantis' Belvidere plant, others could be at risk

The CEO of the maker of Jeep SUVs said if the economy and consumer demand worsen, that could be bad news for its Cherokee plant in Belvidere, Illinois, and perhaps other manufacturing facilities.

AAP

Australian consumers look for an escape

Australians are feeling pessimistic about the economy but a new survey shows it's not stopping them from spending.

Fortune

Americans are already pessimistic about how the year will go

So much for the roaring 2020s. U.S. adults are already out on 2023 and expecting the worse, especially when it comes to work and the economy.

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Al Jazeera

India’s economic growth to slow to 7%, government forecasts

India remains a relative ‘bright spot’ in the world economy, but weak exports are expected to hamper its growth.

StockNews.com

3 Growth Stocks to Buy Now and Hold All of 2023

Amid slowing interest rate hikes and the economy possibly avoiding a recession this year, growth stocks could stage a recovery. Hence, fundamentally strong growth stocks Raytheon (RTX), Archer-Daniels-Midland (ADM), and Celestica (CLS) could be solid buys now. Read on….

Reuters

Germany backs Norwegian plan to capture carbon from cement

Germany's economy minister Robert Habeck threw his weight behind a Norwegian project to capture carbon emissions and re-use them being carried out by multinational HeidelbergMaterials.

Tribune News Service

US hiring solid while wages cool, giving Fed room to slow hikes

The U.S. labor market stayed strong last month and wage gains cooled, boosting hopes the economy will dodge a recession and giving the Federal Reserve room to slow interest-rate hikes.

The Guardian - UK

Rishi Sunak’s anti-strike legislation is an assault on democracy itself

The fundamental problem in Britain today isn’t strikes, it’s an economy that makes strikes necessary, says Ronan Burtenshaw of Enough is Enough

Axios

U.S. adds 223,000 jobs in December, capping a strong year for the labor market

The labor market is still chugging along with healthy demand for workers.

The Conversation

Global economy 2023: why there will still be plenty of pressure on food prices in the year ahead

Welcome to this special report on the food industry, the fourth instalment in our series on where the global economy is heading in 2023. It follows recent articles on inflation, energy and the cost of living.

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