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The Latest Breaking News from Economy

The Sanctions on Russia Are Working

Slowly but surely, sanctions are weakening Putin.

Foreign Affairs

North Korea calls for normalising factories, economy after COVID 'upheaval'

North Korea's parliament has outlined plans to normalise industrial production and meet its economic goals this year, despite the "worst-ever upheaval" amid the coronavirus pandemic in 2022, state media said on Thursday.

Reuters

Rising costs and looming recession weigh down Scottish business growth

More than 80% of Scottish firms intend to raise prices over the next quarter

Insider UK

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‘Worrying picture’ for retail and tourism services over price rises – survey

The UK and Scottish governments have been urged to offer more financial relief packages to businesses.

The Independent UK

Is a global recession really coming up?

The world's leading economists spent most of 2022 convincing themselves that, if the global economy was not already in a recession, it was about to fall into one. But with the year 2022 end, the global slump has been postponed to the present 2023.

Bangkok Post

Weak US retail sales, factory data heighten recession concerns

U.S. retail sales fell by the most in a year and business equipment production slumped, raising concerns that the economy is losing momentum under the weight of tighter Federal Reserve policy.

Tribune News Service

Insomnia, headaches, and stomach pains: the hidden costs of gig workers’ flexibility

The ever-expanding gig economy has brought with it the rise of the independent contractor, from delivery drivers to personal shoppers and dog walkers. Compared to traditional employees, independent contractors are classified as self-employed and do not benefit from a minimum wage, paid time off, or other protections. This kind of…

The Conversation

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Cisco’s CEO at Davos says most executives are ‘very optimistic’ about the economy's future—despite Americans' recession fears

While some Davos attendees warned of a looming recession, Cisco's CEO isn't worried. And Carlyle Group's co-founder argued that it might even be a good time to invest in stocks.

Fortune

Egypt Sees High Demand from Investors after Currency Drop

Egypt is seeing good investor appetite for stakes in its state-owned enterprises, the country's planning minister said on Wednesday, as the government pursues partial privatizations to drum up funds after a sharp fall in the value of its currency. Egypt, faced with a currency crunch exacerbated by the war in…

Asharq Al-Awsat

Why China’s shrinking population is a big deal -- counting the social, economic and political costs of an aging, smaller society

Throughout much of recorded human history, China has boasted the largest population in the world – and until recently, by some margin.

The Conversation

Davos 2023: Germany's Scholz upbeat on energy, warns on deglobalisation

Germany's energy supply for this winter is secure, Chancellor Olaf Scholz said on Wednesday, adding that the ability of Europe's largest economy to swiftly wean itself off Russian gas has shown how flexible and speedy it can be.

Reuters

Will GOP blow up the world's economy?

Yes, the debt-ceiling fight is a boring, pointless political ritual — but the risk this time is off the charts

Salon

Ministers hope Chancellor Jeremy Hunt will unveil tax cuts in the autumn before 2024 election

Ministers hope Chancellor Jeremy Hunt can announce tax cuts in the autumn ahead of a General Election a year later.

Evening Standard

LinkedIn: Economic fears aren’t enough to stop employees jumping ship in 2023

Workers said they felt confident in their ability to find a new job, despite an uncertain economy.

Fortune

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Insider UK

I hope the latest government funding for ferries is the last – Swinney

Deputy First Minister responded to questions from the Economy and Fair Work Committee

The Guardian - UK

Rail strikes cost UK £1bn and settling would have been cheaper, minister admits

Huw Merriman insists the need for reform to working practices made the standoff necessary

Axios

Why China's growth and population declines matter

The post-COVID world economy could be different from the one we've come to rely on.

Fortune

Goldman Sachs CEO: 'We tried to do too much, too quickly'

David Solomon called the firm’s fourth-quarter results “disappointing" and shared his thoughts on the economy during the earnings call.

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The Times of India

Union Budget 2023-24: State of Indian economy

NEW DELHI: Finance minister Nirmala Sitharaman is all set to present her fifth Union Budget on February 1. This will be the last full year budget of the Modi 2.0 government before the general elections in 2024.

Asharq Al-Awsat

IMF: Saudi Arabia Playing Important Role in Energy, Food Security

International Monetary Fund (IMF) Managing Director Kristalina Georgieva underscored on Wednesday the important role Saudi Arabia is playing in energy and food security. “Saudi Arabia takes its good fortunes to heart to play an important role in energy and food security,” she said at the World Economic Forum in Davos.…

Tribune News Service

Editorial: If McCarthy won’t defend the global economy, Biden and Yellen must

Fast forward to this fall. Americans are thinking about Halloween costumes or how their kids are faring in the new school year, but one more pressing and widespread concern occupies the nation’s minds: the collapsing global economy, which has been spinning out with no signs of slowing, leading to heavy…

Asharq Al-Awsat

Saved from Death at Sea, Syrian Refugees Face Deportation

On New Year’s Eve, a small boat carrying more than 230 would-be migrants, most of them Syrians, broke down and began to sink after setting sail from the northern coast of Lebanon. Since the collapse of Lebanon's economy in 2019, an increasing number of people — mostly Syrian and Palestinian…

AAP

Trade, investment key to peaceful Pacific

Former foreign minister Julie Bishop has told an international forum Japan would have greater credibility as a regional leader if it reformed its own economy.

Asharq Al-Awsat

What’s at Stake in Türkiye’s Upcoming Elections?

President Recep Tayyip Erdogan is aiming to extend his 20-year rule in elections that will decide not just who leads Türkiye but how it is governed, where its economy is headed and what role it may play to ease conflict in Ukraine and the Middle East. The presidential and parliamentary…

Reuters

Davos 2023: Marcos says Philippines to resist 'recessionary forces'

Philippines President Ferdinand Marcos Jr said his country would resist global recessionary headwinds, but warned that increasing tensions in the South China Sea were harming trade.

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”Ferdinand “Bongbong” Marcos Jr.

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