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The Latest Breaking News from Economy

Oil Resumes Slide as Weak Economy Outweighs Supply Risks

Oil prices fell on Monday, deepening a multi-week decline, as a weakening global economy offset supply woes stemming from the closure of a key pipeline supplying the United States and Russian threats of a production cut. Brent crude futures were down 38 cents, or 0.4%, at $75.72 a barrel by…

Asharq Al-Awsat

Saudi Economy Grows by 8.8% in Third Quarter

The General Authority for Statistics announced on Sunday that Saudi Arabia’s economy grew by 8.8 percent in the third quarter of 2022. This growth was driven by the rise of oil-related activity by 14.2 percent, and non-oil activities by 6 percent, while government activities recorded a growth of 2.5 percent…

Asharq Al-Awsat

Can Cop15 protect ocean biodiversity from the big fish of the ‘blue economy’?

The sea has been ravaged by profiteers – many of whose lobbyists are circling in Montreal, says the author Guy Standing

The Guardian - UK

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Tough road ahead on the economy, Chancellor Jeremy Hunt warns

Economists described October’s 0.5 per cent growth as a ‘false dawn’

Evening Standard

Britain's GDP grows 0.5% in Oct: statistics office

LONDON: Britain's economy grew 0.5% in October, official data showed Monday, after a sharp fall the previous month in part because of the national holiday for Queen Elizabeth II's funeral.

Bangkok Post

UK economic growth in October a 'false dawn', say experts

THE UK is heading into an expected recession as the economy shrank between August and October.

The National (Scotland)

Swinney talks of ‘difficult decisions’ ahead of Scottish budget

Social Justice Secretary suggests that those with the broadest shoulders should take more of the tax burden

Insider UK

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UK economy returns to growth as GDP rises 0.5% in October

Growth figure shrank 0.3% in a quarter, reflecting concerns over lengthy recession

The Guardian - UK

'Tough road ahead' warning despite economy 'bounce back' in latest figures

'Aftershocks of Covid-19, Putin’s war and high global gas prices' will all continue to impace, it was warned

Wales Online

FTSE 100 Live: UK economy grew in October, Microsoft builds LSE stake

The UK unemployment rate today rose to 3.7% as figures also showed the cost of living squeeze through a 2.7% fall in real terms pay.

Evening Standard

UK facing ‘tough road’ as recession looms despite economy growing in October – as it happened

Chancellor Jeremy Hunt warns economy likely to get worse before improving, after UK GDP rose 0.5% in October, but shrank by 0.3% in the August-October quarter

The Guardian - UK

Jacinda Ardern vows to ‘focus on economy’ after months of poor polling

The New Zealand government is set to pare back its policy agenda, as the prime minister pledges to make the economy her priority

The Guardian - AU

Gas boss fears plan will kill investment

Industry chief Samantha McCulloch says the federal government's plan to cap gas prices will "unravel" Australia's open market economy.

AAP

Fears for UK economy after manufacturing sector shrinks by 4%

Industry body Make UK says ‘no sugar-coating poor outlook’ for next year and ‘possibly beyond’

The Guardian - UK

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Birmingham Post

North East economy stabilises - but at low level, survey suggests

Second report out today highlights concerns from manufacturing companies for the coming year, however

Bangkok Post

Popping off on populist pledges

With Thailand expected to hold a general election next year, political parties have kicked off their campaigns offering promises to appeal to voters.

Bangkok Post

Crucial year for burgeoning space economy

Thailand's satellite-related economy is expected to reach an important milestone next year with two major developments -- the auction of rights to use satellite orbital slots, scheduled for Jan 8, and a push by the telecom regulator to amend the rules governing landing rights licences for foreign satellite operators, paving…

Reuters

Brazil economy ministry rejects Lula transition team's judgment on finances

Brazil's Economy Ministry on Sunday rejected assertions by president-elect Luis Inacio Lula da Silva's transition team that the outgoing administration was leaving government finances "bankrupted."

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Newcastle Herald

Hunter can take 'lot more people': population of 950,000 by 2041

A key regional advocacy group says the Lower Hunter has "much more capacity for growth and heavy lifting" to accommodate population rises across Greater Sydney.

Asharq Al-Awsat

Haitham Al Ghais: OPEC+ Plays Instrumental Role in Supporting Market Stability

The OPEC+ alliance plays an instrumental role in supporting market stability, said OPEC Secretary General Haitham Al Ghais on the sixth anniversary of the group’s formation. The Declaration of Cooperation (DoC) is an unprecedented collaborative framework of 23 oil-producing countries that is based on trust, mutual respect and dialogue, Al…

The Guardian - UK

Infamy, infamy … the Brexit legions have still got it in for Sunak

Power, in this disintegrating Tory party, seems as precarious as being an emperor in febrile ancient Rome

Tribune News Service

Peru leader names ex-cenbank official as economy chief

Peru’s new President Dina Boluarte named a U.S.-educated economist who has spent most of his career at the central bank as economy minister, as she tries to restore calm after the turmoil of recent days.

Reuters

Peru's president Boluarte names Cabinet following Castillo ouster

Peruvian President Dina Boluarte on Saturday named her Cabinet, tapping former deputy finance minister Alex Contreras as economy minister and chemical engineer Oscar Vera as energy and mines minister, following the ouster of ex-President Pedro Castillo.

Asharq Al-Awsat

Syrian Pound Hits New Low on Black Market

Syria's nose-diving pound hit a new record low Saturday against the dollar on the black market, according to websites monitoring the exchange rate, as the country faces severe fuel shortages. The Syrian economy has been battered by more than 11 years of war and crippling Western sanctions, pushing 90 percent…

The Guardian - US

Concern as US media hit with wave of layoffs amid rise of disinformation

Wider economic uncertainty is behind cuts at companies including CNN, BuzzFeed and Gannett, executives say

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