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The Latest Breaking News from Economy

Jordan’s Draft 2023 Budget Forecasts Lower Deficit, Steady Economic Growth

Finance Minister Mohamad Al Ississ said on Wednesday that Jordan's draft 2023 budget forecasts 11.4 billion dinars ($16 billion) in state expenditure as the economy's recovery gathers pace. Al Ississ said in a statement the budget deficit was expected to fall to 2.9% of GDP next year from 3.4% this…

Asharq Al-Awsat

US revises up last quarter’s economic growth to 2.9 percent

Wednesday’s data shows that last quarter’s GDP uptick was led by solid gains in exports and consumer spending.

Al Jazeera

India on track to achieve 6.8-7% GDP growth this fiscal: CEA Anantha Nageswaran

NEW DELHI: The Indian economy is on track to achieve a 6.8-7 per cent GDP growth in the current fiscal, chief economic advisor (CEA) V Anantha Nageswaran said on Wednesday.

The Times of India

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Using data to tell the story of India’s infrastructure issues, and the way ahead

In October 1963, while inaugurating the Bhakra dam on the Sutlej river in Himachal Pradesh, then prime minister Jawaharlal Nehru used the evocative phrase “temples of modern India” to describe the infrastructural milestones in the formative years of India’s post-Independence economic rebuilding. The dam, which took nearly 15 years to…

Newslaundry

Inflation may now have peaked. The RBA must tread carefully

The next worry for Philip Lowe is he’ll have to apologise for raising interest rates longer than needed

The Guardian - AU

Layoffs mount: Twitter, tech, biotech firms chop 900-plus Bay Area jobs

SAN JOSE, California — Twitter and other companies have unveiled plans to chop more than 900 Bay Area jobs in a fresh round of tech and biotech layoffs that could jolt the region’s increasingly wobbly economy.

Tribune News Service

2 Stocks That Have Wall Street's Stamp of Approval

Despite rampant market volatility ahead of the November jobs data, and possible recession fears, experts believe the U.S. economy is resilient enough to handle a potential growth slowdown. Given the possibility of a year-end rally, quality stocks Pfizer (PFE) and AT&T (T) could now be ideal additions to your portfolio.…

StockNews.com

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Indian economy grows 6.3% in Q2 of FY23; services shine, manufacturing & mining sectors drag

NEW DELHI: India's gross domestic product (GDP) for the period July-September 2022 grew by 6.3% , data released by the government showed on Wednesday.

The Times of India

Government targets to cross 1 crore job-mark from digital economy in next 2 years: Ashwani Vaishnaw

NEW DELHI: The government has set a target to cross 1 crore job-mark in the next 2 years in three main segments of digital economy - electronics, startups and IT, and IT-enabled services, minister for IT and communications Ashwani Vaishnaw said on Wednesday.

The Times of India

Türkiye’s Economic Growth Slows to 3.9% in Q3 as Foreign Demand Falls

Türkiye’s economy expanded 3.9% in the third quarter from a year ago, according to official data released on Wednesday, though growth slowed from the previous quarter as a global slowdown put a drag on exports, but the tourism sector remained strong. Gross domestic product (GDP) contracted 0.1% from the previous…

Asharq Al-Awsat

Eduardo Porter: Migrant workers face worse choices than building World Cup stadiums

The global financial crisis of 2008 dealt a blow to thousands of Indian laborers. They were set to join hundreds of thousands of compatriots providing the workforce for a construction boom in Dubai. Then the world economy spasmed, the price of oil tanked and international finance dried up. Hundreds of…

Tribune News Service

Investors want more of India, says Goldman Sach’s Sengupta

NEW DELHI: Foreign investors are showing increased interest in India, as Asia’s third-largest economy ramps up its manufacturing capacity and improves infrastructure, said Santanu Sengupta, chief India economist at Goldman Sachs Group Inc.

The Times of India

Bulb Energy takeover by Octopus cleared; anger over HSBC branch closures; food inflation at record – as it happened

The UK’s sale of collapsed Bulb Energy to Octopus Energy will go ahead after it was approved by a London judge this afternoon

The Guardian - UK

Congress poised to pass resolution to avoid rail strike

WASHINGTON — Aiming to avert a Dec. 9 railroad work stoppage estimated to cost the economy $2 billion a day, House and Senate leaders of both parties promised to pass legislation soon that would enact the White House’s rail union agreement that is opposed by most rail union workers.

Tribune News Service

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The Independent UK

Britain and Ukraine sign digital trade agreement

Officials said the deal will guarantee Ukraine access to UK financial services as it rebuilds its shattered economy.

Los Angeles Times

Michael Hiltzik: Greedy railroads are to blame for rail strike threat. Why should Congress help them?

The prevailing take on the looming national rail crisis is that a few recalcitrant railroad unions are poised go on strike Dec. 9, provoking an industrywide labor walkout that would inflict a "crippling" blow to the U.S. economy.

The Independent UK

Railroad unions decry Biden's plan to block possible strike

President Joe Biden’s call for Congress to intervene in the railroad contract dispute undercuts efforts to address workers’ quality of life concerns and unions decried the move

Bangkok Post

China's Economy Faces Challenges Despite Moves to Stimulate Growth

China's recent steps to adjust Covid-19 controls and revive activity in the beaten-down property market stirred hopes that Chinese leader Xi Jinping is putting fresh emphasis on measures to support the economy, potentially leading to a strong rebound in growth next year.

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Bangkok Post

Green energy, economy, equity are key

The challenge of climate change and environmental degradation is an existential threat which is increasingly recognised in all corners of the globe. Its urgency is all the more pressing because it harbours ill for our children and the next generations in terms of their survival and modus vivendi, unless comprehensive…

StockNews.com

The 2 Best Stocks to Buy Right Now and the 2 Worst

Consumer confidence dropped month-over-month in November. However, it remains well above the mark, indicating a healthy economy. We think investors’ quality stocks, UnitedHealth Group (UNH) and Bristol-Myers Squibb (BMY), which have solid dividend-paying records, could help navigate the uncertainties. However, fundamentally weak Peloton Interactive (PTON) and Mullen Automotive (MULN) might…

The Conversation

The pandemic created challenges and opportunities for Canadian immigration

Canada has long relied on strong immigration to fulfil the country’s demographic needs, expand its economy and support regional development.

StockNews.com

1 Small-Cap Stock to Add to Your Portfolio This Week and 1 to Sell

With inflation showing signs of cooling down, the Fed will likely relax its aggressive monetary policy. Moreover, many are hopeful that the economy might witness a soft landing. While we believe investors should buy fundamentally sound small-cap stock CSW Industrials (CSWI), WeWork (WE) might be best avoided considering the market…

The Guardian - US

Congress expected to impose contract on US railroad workers to avert strike

Citing ‘catastrophic’ risk to US economy, Nancy Pelosi announces impending vote to bind unions to September negotiations

WEKU

China should end its anti-COVID lockdowns, the head of the IMF says

The change could calm widespread protests, and would ease the impact to a world economy already struggling with high inflation, an energy crisis and disrupted food supply.

Al Jazeera

With inflation high, US consumer confidence down for second month

November’s figure is the lowest since July and indicates that Americans are taking a more gloomy view of the economy.

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