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The Latest Breaking News from Economy

UK demand for mortgages slumps as interest rates deter buyers

Bank of England figures also reveal many households are dipping into savings, rather than using credit cards

The Guardian - UK

Eight key money changes in February - Universal Credit, passports, interest rates and more

Here are some of the key dates and changes next month including from the DWP - and how they could affect you

Nottingham Post

UK held back by staff shortages, Brexit and mortgage costs, says top economist

Paul Johnson responds to IMF warning that UK will be weakest major G7 economy this year

The Guardian - UK

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Europe scrapes out economic growth by dodging gas disaster

Europe’s economy has scraped out meager gains at the end of last year as galloping inflation fed by high energy prices and Russia’s invasion of Ukraine deterred people from spending in shops and restaurants

The Independent UK

IMF says global growth 'surprisingly resilient' in updated forecast

The International Monetary Fund's new projections for 2023 show GDP for the world economy growing by 3.2 percent, compared to a 1.9 percent expansion last year. The improved forecast is aided by China's scrapping of its zero-Covid policy and the fall in gas prices. Also on the programme, we report…

France 24

No 10 warns public of ‘significant disruption’ tomorrow because of mass strikes – as it happened

Lecturers and university staff will walk out on Wednesday as teachers and train drivers also take action; ambulance staff to stage further strikes

The Guardian - UK

Dubai International Financial Center Announces Metaverse Platform

The Dubai International Financial Centre (DIFC) launched the DIFC Metaverse Platform in line with the Dubai Higher Committee for Future Technology and Digital Economy's aim to attract technology innovators worldwide. The DIFC Metaverse Platform is aligned with the Dubai Metaverse Strategy, which aims to add $4 billion to Dubai's gross…

Asharq Al-Awsat

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Economy to grow by 7% in FY23; current account deficit may widen: Highlights of Economic Survey 2023

Chief economic advisor (CEA) V Anantha Nageswaran on Tuesday unveiled the Economic Survey 2022-23 and said that the Indian economy is poised to do better on the back of reforms undertaken by the government.

The Times of India

'Broken Brexit Britain': UK economy to be beat by Russia in dismal forecast

THE UK economy is set to shrink and perform worse than other major industrialised economies, including Russia, as the cost of living continues to…

The National (Scotland)

North East areas identified among UK's net-zero jobs 'hot spots'

The green economy is supporting nearly 20,000 jobs and worth more than £2bn to the regional economy, the CBI report says

Birmingham Post

BoT: Tourism keeps economy on upward path

The economy continued to recover in December, boosted by increased tourism and domestic consumption, while exports were affected by the slowing economies of trading partners, the Bank of Thailand said on Tuesday.

Bangkok Post

Nirmala Sitharaman tables Economic Survey 2022-23 in Lok Sabha: Highlights

NEW DELHI: Finance minister Nirmala Sitharaman on Tuesday presented the Economic Survey in Parliament ahead of the Union Budget to be presented on Wednesday.

The Times of India

Britain to be worst-performing major economy this year, warns IMF; UK mortgage approvals tumble and company insolvencies surge – as it happened

Britain is the only G7 economy forecast to shrink in 2023, the IMF says, as higher energy prices, rising mortgage costs and increased taxes hit growth.

The Guardian - UK

Asian shares fall in muted trading ahead of Fed meeting

Asian shares are mostly lower in muted trading as investors await decisions on interest rates and on earnings reports from around the world

The Independent UK

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Bangkok Post

Tourist arrivals on Koh Samui top 200,000 in January

SURAT THANI: More than 200,000 tourists visited Koh Samui in January, giving a welcome boost to the tourist island's economy.

Asharq Al-Awsat

IMF Upgrades Outlook for the Global Economy in 2023

The outlook for the global economy is growing slightly brighter as China eases its zero-COVID policies and the world shows surprising resilience in the face of high inflation, elevated interest rates and Russia's ongoing war against Ukraine. That's the view of the International Monetary Fund, which now expects the world…

Asharq Al-Awsat

Samsung’s Profit Plummets amid Global Economic Woes

Samsung Electronics said Tuesday its profit for the last quarter plummeted nearly 70% as a weak global economy depressed demand for its consumer electronics products and computer memory chips. The company’s operating profit of 4.3 trillion won ($3.5 billion) for the three months through December fell 69% from a year…

The Independent UK

What the papers say – January 31

A dire forecast for the UK economy dominates Tuesday’s front pages.

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news in one place.

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The Guardian - UK

Higher obesity levels linked to lower productivity in England, research shows

Report by former government adviser says plan needed to tackle obesity, thought to cost UK economy £27bn a year

The National (Scotland)

Labour and Tories' 'conspiracy of silence' over Brexit impacts condemned

LABOUR are in a “conspiracy of silence” with the Tories about the harmful impacts ofBrexit on the UK, top SNP figures have said on the…

The Independent UK

Chinese factory activity rebounds, adding to recovery signs

A survey shows Chinese factory activity rebounded in January, adding to signs the world’s second-largest economy might be recovering from a painful slump

The Independent UK

IMF warns UK economy is set for sharp contraction in ‘weakest performance among G7’

IMF predicts UK economy will contract by 0.6% in 2023 as Britain looks set to suffer more than most from soaring inflation

Wales Online

UK tipped to be weakest major economy in world as cost-of-living crisis hits households hard

The IMF has predicted UK output to shrink by 0.6% this year

The Independent UK

UK economy to shrink more than Russia, predicts IMF

The forecast leaves the UK economy languishing behind sanctions-hit Russia

The Independent UK

IMF upgrades its outlook for the global economy in 2023

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