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The Latest Breaking News from Economy

Malaysia's Anwar begins work as PM after polarising election

Malaysia's Anwar Ibrahim is expected to start discussions on forming his cabinet on Friday as he begins work as prime minister at a challenging time, with the economy slowing and the country deeply split after a close election.

Reuters

High hopes for eatsHUB

The Digital Economy and Society (DES) Ministry expects to double the growth of food delivery platform eatsHUB next year in terms of economic value and participating restaurants after the pilot service was launched in May this year.

Bangkok Post

2 Stocks to Buy if You Want Passive Income in 2023

The Fed is likely to slow down its aggressive monetary policy as analysts believe the economy is finally losing momentum and inflation should decline in the next year. Therefore, investors should consider adding fundamentally sound stocks Bristol-Myers (BMY) and ARC Document (ARC) to their portfolios to ensure a stable passive…

StockNews.com

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Ukraine recap: targeting power supply earns Russia new title of 'state sponsor of terror' as winter begins to bite

Temperatures are falling steadily across Ukraine. The UK’s Met Office forecasts light (but pretty cold) rain in Kyiv for the next day or two followed by snow, snow, snow, as the mercury drops steadily into minus numbers next week.

The Conversation

Jeremy Hunt rejects forecasts on Brexit hit to UK economy

The Chancellor also denied that Liz Truss’s mini-budget inflicted long-term damage.

The Independent UK

Lebanon MPs Again Fail to Elect President despite Economic Crisis

Lebanese lawmakers failed for a seventh time Thursday to elect a successor to former president Michel Aoun, even though the vacancy is hampering efforts to rescue the stricken economy. Parliament is split between supporters of the powerful Iran-backed Hezbollah movement and its opponents, neither of whom have a clear majority.…

Asharq Al-Awsat

Lucrative conferences cancelled and investors forced to go by minibus: What Manchester's rail meltdown is costing the city's economy

Senior business leader spells out the damage to local reputation in letter to the Transport Secretary Mark Harper

Manchester Evening News

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Ukraine war: how the economy has kept running at a time of bitter conflict

November 24 marks nine months since the Russian invasion of Ukraine began. Despite the expectation of the Kremlin – and many international analysts – Ukraine did not fall within days. It repelled Russia’s advance on the capital Kyiv, turned the tide on the battlefields and has now retaken half of…

The Conversation

Paul Polman: The world needs a Marshall Plan to fight climate change

Paul Polman, the former CEO of Unilever turned climate campaigner, writes about a disappointing COP27–and the promise of business-led solutions.

Fortune

3 Strong Buy Stocks to Continue to Hold Onto in 2023

As the Fed’s aggressive monetary policy resulted in slightly cooled inflation last month, investors are hopeful of smaller rate hikes ahead. However, since a recession is expected to hit the economy next year, we think fundamentally sound stocks Pfizer (PFE), Flowers Foods (FLO), and Xperi (XPER), which are rated Strong…

StockNews.com

Interest rate cut possible if economy demands, says Bank policymaker

Deputy governor Dave Ramsden makes comments as CBI snapshot predicts tough winter for UK factories

The Guardian - UK

Need concentrated global push of millets amid challenges of covid, conflict and climate: S Jaishankar

NEW DELHI: External affairs minister S Jaishankar on Thursday said a concentrated global push for millets is needed as the three Cs of climate change, Covid-19 and conflict are impacting food security in some way or the other.

The Times of India

Palestine Incurs $50Bln Economic Losses in Two Decades

Additional restrictions imposed on Palestinian development in Israeli-controlled parts of the West Bank cost the Palestinian economy an estimated $50 billion between 2000 and 2020, the UN development agency said Tuesday. The United Nations Conference on Trade and Development (UNCTAD) said in report to the UN General Assembly that extra…

Asharq Al-Awsat

China's COVID infections hit record as economic outlook darkens

China reported record high COVID-19 infections on Thursday, with cities nationwide imposing localised lockdowns, mass testing and other curbs that are fuelling frustration and darkening the outlook for the world's second largest economy.

Reuters

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Reuters

Factbox-Germany's welfare reform plan

German lawmakers have agreed a welfare reform to raise unemployment benefit payments and help train people who are out of work, with a view to addressing a skills shortage in Europe's largest economy.

Reuters

German lawmakers agree welfare reform to boost benefits, training

German lawmakers have agreed a welfare reform to raise unemployment benefits and help train people who are out of work, with a view to addressing a skills shortage in Europe's largest economy.

Birmingham Post

'Economic growth will be choked off': Bruntwood boss warns of impact of Avanti West Coast cancellations

Avanti West Coast has blamed unofficial strike action for the reduced services, an accusation that has been rejected by unions

Asharq Al-Awsat

Saudi Arabia to Adopt Strategy to Stimulate Development, Innovation and Research

Senior Saudi government officials revealed serious trends towards activating development, innovation and research within the framework of the country’s transformation plan, disclosing the imminent completion of a strategy dedicated to research and development. The Ministry of Education launched on Wednesday in Riyadh, the first dialogue conference, entitled “Integration and Sustainable…

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Reuters

Explainer-How South Korea's trucker strike could paralyse critical supply chains

The second mass strike by unionised truckers in South Korea in less than six months on Thursday has the potential to cripple supply chains in an export-driven economy which is the world's 10th-largest.

The Guardian - UK

Bank of England deputy governor could vote to cut interest rates if inflation pressures ease – as it happened

Sir Dave Ramsden expects to vote to keep raising borrowing costs, but sees potential for rate cuts if persistent inflation stops being a worry

Reason

Be Thankful for Low-Skilled Workers

These are the people who showed up when the economy was shut down by the government, working in jobs labeled "essential."

Bangkok Post

PTT: Oil at $90 in 2023

Global crude oil prices are expected to keep decreasing to US$85-95 a barrel next year when the world economy slows down, according to analysts of national oil and gas conglomerate PTT Plc.

Fortune

Top economist Mohamed El-Erian says we’re not just headed for another recession, but a ‘profound economic and financial shift’

The former CEO of PIMCO sees three trends that suggest a transformation in the global economy is under way.

Tribune News Service

US economy shows signs of slowing as Fed hikes filter through

Fresh evidence Wednesday pointed to a slowing U.S. economy and a cooling labor market that suggests steep interest-rate hikes by the Federal Reserve are starting to have a broader impact.

The Independent UK

Nigeria hopes new currency notes curb inflation, corruption

Nigeria has unveiled newly designed currency notes that the West African nation’s central bank says will help curb inflation and money laundering

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