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The Latest Breaking News from Economy

Liz Truss urges world leaders to follow UK with trickle down economics

Reports that stamp duty will be cut as PM uses speech to UN to argue for far-reaching tax reductions, putting her at odds with Joe Biden

The Guardian - UK

Thai sustainability expo goes international

Thai Beverage Plc (ThaiBev) and its four major trading partners will host the country's largest Sustainability Expo 2022 (SX 2022) at the Queen Sirikit National Convention Center from Sept 26-Oct 2 which is expecting more than 10,000 visitors per day.

Bangkok Post

The risk of competitive rate hikes

The world is facing the risk that major central banks will undertake competitive interest-rate hikes that may look desirable for their countries individually but could drag the world economy into an unnecessary recession.

Bangkok Post

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read the most diverse news in one place.

American Airlines is revamping premium class with private suites, lay-flat seats

American Airlines is overhauling its most exclusive seating on long-haul jets, adding “private suites” with lay-flat seats that could compete head-to-toe against premium foreign carriers.

Tribune News Service

ECB's Panetta defying calls to be Italian finance minister, sources say

ECB board member Fabio Panetta is resisting calls from Giorgia Meloni, the front-runner to be Italy's next prime minister, to take the job of economy minister should the rightist bloc win election on Sunday, two political sources told Reuters.

Reuters

One thing is top of mind for many young Brits, and it's not the royal family

While all eyes were focused on England in the aftermath of Queen Elizabeth II's death, many young people in London have other issues on their minds. For most, the biggest one is the economy.

WEKU

Liz Truss pledges to review tax rates amid cost of living crisis

PM’s remarks pave way for radical overhaul that could include rethinking income tax brackets

The Guardian - UK

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Joe Biden lashes out at Liz Truss' favourite approach to economy hours before they meet

The US President said he was 'sick and tired of trickle-down economics' - exactly the approach Liz Truss is planning to take in a tax-slashing mini-Budget this Friday

Daily Mirror

Green light for new £25 million virtual production studio in Belfast

Studio Ulster is scheduled to open for filming in 2024.

The Independent UK

UK's Truss says she'll slash taxes despite economic crisis

U.K. Prime Minister Liz Truss said Tuesday that she’s ready to make “unpopular decisions” such as boosting bonuses for wealthy bankers in order to get the U.K.’s sluggish economy growing

The Independent UK

Gaza's first marine fish farm helps make up for dwindling catch

A fish farm established in the Mediterranean Sea off Gaza last year has begun to produce sea bream for the local market as well as for export to the occupied West Bank, bringing a welcome boost to diets and much-needed cash to the economy.

Reuters

Liz Truss boasts she's prepared to be unpopular as she axes bankers' bonus cap

The Tory leader was asked if she's prepared to be unpopular, and replied: 'Yes, yes I am'. It comes as she prepares to cut tax for wealthier Brits this Friday

Daily Mirror

West Lothian community wealth plans may become just a 'talking shop'

As council embraces community wealth building scheme there are warnings that strict rules on best return for sales could deprive communities of land and buildings for social development

Edinburgh Live

Lebanon aims to adopt long-delayed IMF reforms by October

Lebanon's caretaker economy minister says the crisis-hit country hopes to adopt key but long-delayed reforms demanded by the International Monetary Fund for an economic bailout before the end of next month if there is “political will.”

The Independent UK

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The Conversation

India's economy has outpaced Pakistan's handily since Partition in 1947 – politics explains why

India and Pakistan inherited the same economic legacy of underinvestment and neglect from Britain when they became independent states following the Partition on Aug. 15, 1947. Their colonial economies were among the poorest in the world.

Reuters

Exclusive-Climate change, conflict decimate Syria's grain crop - UN FAO

Climate change, a faltering economy and residual security issues have decimated Syria's 2022 grain crop, leaving the majority of its farmers in a precarious position, the United Nations Food and Agriculture Organization (FAO) said.

Asharq Al-Awsat

Morocco’s Budget Deficit Reaches $3bn in August

Morocco’s Ministry of Economy and Finance said Monday that the situation of the Moroccan Treasury's expenses and resources indicated a budget deficit of 30.4 billion dirhams ($3 billion) by August 31, against 43.3 billion dirhams ($4.3 billion) a year earlier. Also, tax revenues showed a good overall performance, with an…

Al Jazeera

Why is Iran turning to a new ‘digital rial’?

The digital currency may improve Iran’s digital economy, but some have privacy concerns.

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The Guardian - UK

Liz Truss says she is prepared to be unpopular as she sets out policies aimed at delivering growth – as it happened

Prime minister says chancellor will explain how tax cuts will be paid for on Friday

Insider UK

Lanarkshire wind farm site gets go ahead

The local economy should get local contracts worth £11.7m during construction, as well as several new jobs

Al Jazeera

China’s imports of Russian coal hit 5-year high as ties deepen

Russian coal imports reach 8.54 million tonnes in August amid soaring energy demand in the world’s No 2 economy.

The Guardian - UK

Energy-saving measures could boost UK economy by £7bn a year, study says

Exclusive: Green home upgrades could also create 140,000 new jobs by 2030, analysis by Cambridge Econometric finds

Bangkok Post

Huawei launches global cloud initiative

Global tech powerhouse Huawei Technologies is sharpening its focus on strengthening its partnership ecosystem for growth by launching a "Go Cloud, Go Global" plan to work with partners across industries to capitalise on its cloud power to push for digital solutions and capacity building.

Bangkok Post

Central banking must go green

Just as there is no question that climate change brings enormous economic and financial risks, there should be no question that central banks can and must play a role in addressing this mother of all market failures. As central banks in the United States and Europe tighten credit to regain…

ABC News

Banks and miners drive ASX higher, Wall Street recovers despite worries about US economic 'hard landing'

Australian shares post solid gains after Wall Street recovers from its two-day losing streak as investors wait to see how aggressively the US Federal Reserve will lift interest rates this week.

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