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The Latest Breaking News from Economy

Raul Castro backs sweeping Cuba reforms to revive struggling economy

Cuba's former president Raul Castro on Wednesday backed sweeping economic reforms proposed by the government to revive the crisis-hit economy amid a longstanding US embargo. The measures would expand private investment, attract capital from Cubans abroad and reduce the state's role, with lawmakers expected to approve key changes this week.

France 24

Federal Reserve policymakers show support for rate hikes as Warsh reins in guidance

The Federal Reserve kept its key rate unchanged Wednesday yet nearly half the central bank's policymakers said they could support a rate hike later this year, an unexpectedly aggressive outcome that would disappoint President Trump and suggests heightened concerns about persistent inflation

AAP

Fed keeps rates unchanged but signals possible hike this year

The Federal Reserve left interest rates unchanged at its first policy meeting under chair Kevin Warsh, but nearly half of policymakers signalled they could support a rate hike later this year as inflation remains elevated.

Euronews

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Government presses ahead with fraught AI plan

The determination of rookie politician Chaichanok Chidchob, Minister of Digital Economy and Society (DES), to push ahead with the TH-AI Passport scheme by granting premium AI access to five million Thais with a budget of 1.6 billion baht has backfired, turning the initiative into a new political flashpoint for the…

Bangkok Post

Federal prosecutors subpoena banks over alleged closure of accounts

In this week’s edition of Economy and Society:

Ballotpedia

One of the most powerful El Niños on record cost the world economy $5.7 trillion. The 2026 cycle might be even stronger

El Niño is here. Prepare for higher food prices, throttled trade, and a “systemic shock” to the world economy.

Fortune

Germany and Poland sign new defence deal as balance of power in Europe shifts

Poland’s importance as a logistics hub for Ukraine, alongside its growing economy and heavy defence investment, has made it a compelling partner for Germany and other core European countries.

Euronews

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Before banks, nuns lent money: how convents helped power medieval Vienna’s economy

Retirement planning might seem like a thoroughly modern concern, with pensions, investments and annuities forming part of today’s financial toolkit. But these financial tools are much older than they appear. In the later Middle Ages, people were already exchanging lump sums for steady income streams – and, in cities like…

The Conversation

The bleak view that unemployment needs to rise shows the RBA acts firstly in the interests of companies, not workers

The Reserve Bank governor has made clear the cash rate has been increased not to reduce inflation but to make it harder to bargain for higher wages

The Guardian - AU

China Shock 2.0: Surging Chinese exports threaten Europe's economy, raising concern at G7 summit

For eight years, the United States has waged economic war on China, slapping big taxes on Chinese products before they enter America

AAP

15 countries in Kenya adopt the Mombasa declaration to fight illegal fishing

Fifteen countries have adopted the Mombasa declaration to combat illegal fishing, which experts say costs the global economy up to $50 billion annually

The Independent UK

Suspicions about AI Passport mount

People’s Party says even more damning evidence could surface in future censure debate

Bangkok Post

Has Sri Lanka recovered from its economic collapse? Three years after the crisis

Sri Lanka, once a symbol of economic collapse, has achieved remarkable stabilisation. Fuel shortages and soaring inflation have receded, with economic growth returning and tourism booming. While international lenders praise the IMF-backed reforms, significant challenges like high public debt and low investment persist, indicating recovery is still incomplete and transformation…

The Times of India

What Makes a Digital Platform Trustworthy in 2026?

Trust has become one of the most valuable currencies in the digital economy. Whether consumers are shopping online, managing their finances, streaming content, or using entertainment platforms, they increasingly expect services to be secure, transparent, and reliable. In 2026, a trustworthy digital platform is no longer defined solely by its…

inkl

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The Economic Times

Israel approves National AI Plan to strengthen technological self-reliance

Israel is launching a major national plan to boost its artificial intelligence capabilities. The government aims to make the country a global leader in AI technology. This initiative will integrate AI across all sectors, from economy to public services. Israel will focus on developing its own computing power and fostering…

Bangkok Post

G7 leaders unite in support to Ukraine, agree to add pressure on Russia

EVIAN-LES-BAINS — ⁠The leaders of the Group of Seven (G7) countries said ‌on Wednesday they stand united to support Ukraine, including its territorial integrity, and agreed to increase ⁠the pressure on the Russian war economy.

The Economic Times

Lower crude may not mean cheaper fuel immediately: NIPFP economist

Global crude oil prices may fall after Middle East peace efforts. However, fuel prices in India might not decrease immediately. Oil companies face pressure, and lower crude prices could offer them relief. A peace deal would benefit India's economy and potentially strengthen the rupee. India's long-term growth remains strong, driven…

Euronews

G7 leaders agree to increase weapons deliveries for Ukraine, step up pressure on Russian economy

G7 leaders pledge more weapons for Ukraine, including air defence and long-range systems, and signal readiness to tighten sanctions on Russia's oil and gas sector.

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The Economic Times

How Brexit is estimated to have hit the UK economy

Britain's economy shows weak growth since leaving the European Union. Various researchers estimate significant losses in GDP, productivity, and investment. These impacts stem from increased business uncertainty and reduced trade. New trade deals are not expected to offset these effects. The long-term outlook points to a smaller economy compared to…

Evening Standard

Inflation unchanged at 2.8 per cent despite fears that Iran war effect would start to show on economy

UK inflation unexpectedly flatlines in food price rises offset pressure from rising fuel costs

AAP

AAP Rolling News Bulletin June 17, 1630

AAP Rolling News Bulletin for June 17 at 1630

AAP

AAP Rolling News Bulletin June 17, 1600

AAP Rolling News Bulletin for June 17 at 1600

International Business Times UK

2026 FIFA World Cup Could Add Billions to Britain's Economy — Unless England Keeps Winning

The 2026 FIFA World Cup could inject £7.6 billion into Britain's economy, boosting hospitality while posing productivity challenges due to absenteeism and remote working.

The Economic Times

US President Donald Trump's Iran war weighs on G7 economies, but don't expect hard talk in France

Global economic leaders gather in France amid rising inflation and oil prices. A recent deal between the U.S. and Iran offers optimism, but the war's economic impact persists. Central banks have raised interest rates. G7 nations aim to avoid conflict with U.S. President Donald Trump, focusing on narrower economic issues.…

AAP

AAP Rolling News Bulletin June 17, 1530

AAP Rolling News Bulletin for June 17 at 1530

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