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The Latest Breaking News from Economy

Khalifa Port Expansion Project Inaugurated at $1.08 Bln Total Investment

United Arab Emirates President Sheikh Mohamed bin Zayed Al Nahyan inaugurated on Tuesday the Khalifa Port expansion project at a total investment of AED4 billion ($1.08 billion). “The Khalifa Port expansion project is one of the specialized national projects and is considered a significant addition to the country’s ports and…

Asharq Al-Awsat

Average US Vehicle Fuel Economy Was 25.4 MPG In 2021

Stellantis ranked as the automaker with the lowest fuel economy.

Motor1

World Bank: Iraq Must Pursue Greener Growth Model

Iraq, a top oil exporter battered by climate change impact, must diversify its economy and pursue a “greener growth model,” the World Bank said Tuesday. In a new report presented to authorities in Baghdad, the Washington-based institution said $233 billion must be invested by 2040 to allow Iraq to embark…

Asharq Al-Awsat

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Mourne, Gullion and Strangford's UNESCO Global Geopark award in sight after decade's work

"The Geopark will support a more sustainable community and boost the local economy"

Belfast Live

Russia’s wartime economy: learning to live without imports

Rather than provoking a dramatic collapse, international sanctions are causing a steady degradation of the country’s productive capacity

Financial Times

Economy can withstand global risks, says finance minister

The Thai economy is still on the recovery path and should grow 3.4% in 2022 and 3.8% next year, supported by a rebound in the vital tourism sector, Finance Minister Arkhom Termpittayapaisith said on Wednesday.

Bangkok Post

Recycled roads re-route old supply chains

Reclaimed and crushed asphalt, glass, concrete and tyres could replace conventional raw materials in road construction and drive Australia's circular economy.

AAP

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Squeezed between China and Russia, Mongolia’s herders feel pinch

Mongolian tent-dwellers face growing hardship amid skyrocketing energy costs and falling livestock prices.

Al Jazeera

Birmingham should have an innovation district to kick start 'new economy', says Centre for Cities

Economic think tank is calling for the UK government to chanel funding into creating a dedicate centre for boosting tech economies

Birmingham Post

Lula builds out econ team with Mercadante at BNDES, ex-banker aide to Haddad

More of Brazilian President-elect Luiz Inacio Lula da Silva's economic policy team took shape on Tuesday, with Workers Party (PT) veteran Aloizio Mercadante running development bank BNDES and a former banker taking a key role at the Economy Ministry.

Reuters

Peru eyes spending in protest zones, but fiscal goals 'non-negotiable' -minister

Peru's new government is looking at economic stimulus measures for regions being roiled by protests after the ouster of leftist leader Pedro Castillo, but will hold steady to "non-negotiable" fiscal deficit targets, the economy minister said on Tuesday.

Reuters

Office preps 8 digital transformation steps

Equipping people with digital skills in local communities, stimulating a 5G ecosystem and supporting digital content as a means of soft power are among eight projects the Office of the National Digital Economy and Society Commission (ONDE) aims to pursue in 2023 to improve the country's digital landscape.

Bangkok Post

Investing in nature pays dividends

The mega-challenges engulfing the world today -- from Covid-19 to climate change -- have highlighted the interdependencies between people, planet, and the economy. As we chart a course to reignite global growth and drive green, resilient, and inclusive development, we must not ignore these interlinkages. Nature -- meaning biodiversity and…

Bangkok Post

Federal Reserve is about to hike interest rates once again – so why are mortgage rates coming down?

The Federal Reserve is expected to raise interest rates by half a percentage point on Dec. 14, 2022, to a range of 4.25 to 4.5%, which would be the seventh increase this year. So far in 2022, the Fed has lifted its benchmark short-term rate, which influences most other borrowing…

The Conversation

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The Conversation

Five reasons why interest rates can't go much higher

It’s decision time for central banks on interest rates again. The US Federal Reserve and European Central Bank (ECB) are set to announce their latest decisions on Wednesday 14, while the Bank of England (BoE) will go a day later.

Daily Mirror

EU hotels to be banned from offering guests miniature shampoos and shower gels

Miniature bottles of shampoo, body lotions and shower gels are being banned as part of the European Green Deal's Circular Economy Action Plan, which is designed to make sustainable products the norm

Newsroom.co.nz

GDP growth figures highlight growing risk of stagflation

As NZ reports another quarter of slow economic growth, it is combining with inflationary pressures to pose a worrying economic outlook – here and around the world. A resilient China can help NZ through a worrying economic future.

The Guardian - AU

Anthony Albanese’s latest plan to subsidise foreign coal and gas companies is just absurd

Fossil fuel subsidies are a stupid idea. We aren’t so much decarbonising our economy as turbocharging its carbon intensity

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The Guardian - UK

EU becomes first leading economy to legislate for ‘green tariff’ on imports

Countries that fail to decarbonise industries such as iron and steel face an effective carbon tax

Axios

Inflation cools in November for the second-straight month

Inflation is still way too high, but the data offers some hope that it can ease alongside a still-healthy economy.

Fortune

U.S. Patent and Trademark Office director wants more women to secure patents. That could add $1T to the economy

Women only hold 13% of U.S. patents.

Salon

GOP's big plan: Hold America hostage

GOP readies another round of legislative terrorism in search of spending cuts. Biden needs to fight back hard

The Conversation

Xi Jinping's reelection may help Indonesian economy, but protests may worsen anti-Chinese sentiments

Chinese President Xi Jinping has been reelected as the Secretary General of China Communist Party (CCP), making him secure an unprecedented third term as the country’s leader.

Chronicle Live

Unemployment rises sharply in North East as economy struggles

The unemployment rate in the region had been at record lows in the previous two months

Evening Standard

Strikes blamed for most working days lost in more than 10 years

Pay data reveals growing gap between private and public sector

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