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The Latest Breaking News from Economy

Why a 2020s rerun of the Roaring Twenties remains wishful thinking

The 1920s also began dismally. But for a fourth industrial revolution to happen, much more has to be done

The Guardian - UK

Ghana’s return to the IMF within three years underscores its deeper economic problems

Ghana is again seeking assistance from the International Monetary Fund (IMF) to enable the country to meet its payments to the rest of the world and restore the health of government finances. It is the second time in the past three years and 17th since independence in 1957 that Ghana…

The Conversation

Ukraine War Shows West’s Dominance Is Ending as China Rises, Blair Says

The Ukraine war shows that the West's dominance is coming to an end as China rises to superpower status in partnership with Russia at one of the most significant inflection points in centuries, former British Prime Minister Tony Blair said. The world, Blair said, was at a turning point in…

Asharq Al-Awsat

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Ukraine war shows West's dominance is ending as China rises, Blair says

Reuters

G20 Chair Indonesia Says 'Many' Nations Condemned Russia at Talks

Many nations in the Group of 20 major economies condemned Russia's invasion of Ukraine and called for it to end the war during ministerial talks in Indonesia, the host said in its closing statement early Sunday. A two-day gathering of finance ministers and central bank governors on the resort island…

Asharq Al-Awsat

What's Next for the Euro after Slump against Dollar?

The euro's plunge against the dollar, triggered by the Ukraine war and mounting risks to the EU economy, has driven the two currencies to parity for the first time in two decades. The European single currency sank to $0.9952 on Thursday -- a level not seen since the end of…

Asharq Al-Awsat

Zelensky sacks Ukraine’s top prosecutor, security chief

Ukrainian President Volodymyr Zelensky on Sunday sacked his chief prosecutor and the head of the country’s security agency in the largest government shakeup since the start of Russia’s invasion nearly five months ago. The move came as a Ukrainian military official warned that Russia is preparing for the next stage…

France 24

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Letters: manufacturing is key to our future

The UK service sector is important, but we ignore our expertise in industries such as aerospace and pharmaceuticals at our peril

The Guardian - UK

Saudi Arabia Calls on Iran to Cooperate with Regional Countries, US Says Won’t Leave Void to Be Filled by Others

Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense, chaired on Saturday the Jeddah Security and Development Summit on behalf of Custodian of the Two Holy Mosques King Salman bin Abdulaziz. The summit was attended by leaders of the Gulf Cooperation Council (GCC) countries, as well as…

Asharq Al-Awsat

COVID support payments must be balanced with debt, Victorian business lobby says

Victoria's peak business lobby group say the federal government must make sure pandemic payments don't cripple the economy more than outbreaks would.

ABC News

Andy Haldane: we can fix the cost of living crisis. But will we?

The Bank of England’s former chief economist has a clear idea of what caused the current inflation mess, but fears the UK lacks any clear plan for solving it

The Guardian - UK

Economics made simple: 10 experts on where the cost of living crisis came from, and where it’s heading

Rampant inflation, war in Ukraine, Brexit… we ask 10 experts to explain what the economic crisis means for Britain and how we should respond

The Guardian - UK

Saudi Crown Prince Calls for Unified Efforts to Support Global Economy

Saudi Crown Prince Mohammed bin Salman, addressing an Arab-US summit, said on Saturday that unified efforts were required to support the global economy. COVID-19 and the geopolitical situation necessitated more joint efforts to support the global economy, he said, adding that the environmental challenges required a "realistic and responsible" approach…

Asharq Al-Awsat

Short-term outlook remains volatile, but stay the course

2022 has so far felt like a perfect storm for the global economy and financial markets. Changing monetary policy, decades-high inflation, the war in Ukraine and supply-chain disruptions, to name a few, have taken a toll on investor sentiment.

Bangkok Post

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Bangkok Post

Govt set to dangle land bait

Academics, the private sector and non-governmental organisations have expressed mixed reactions to the government's plan to allow foreigners to hold land ownership of one rai for residential purposes.

The New Daily

Michael Pascoe: ‘Everyone’ was wrong about wages – and they may be again

Workers don’t think their boss is open to giving a fat pay increase, writes Michael Pascoe. Fears of a a wage-price spiral are well overblown.

The Times of India

Employment rate increasing in July after fall in June: CMIE

KOLKATA: After witnessing a steep fall in employment rate in June 2022, economic think-tank Centre for Monitoring Indian Economy (CMIE) has estimated that the trend has been reversing in the current month.

The Guardian - UK

‘Embrace the chaos’: a history of Uber’s rapid expansion and fall from favour

The firm was one of the pioneers of the gig economy model but its operations soon caused a global furore

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Benzinga

What The University Of Michigan Consumer Sentiment Survey Means For The Economy, Inflation And Consumer Confidence

The consumer price index for June increased 1.3%, while the index increased 9.1% over the past 12 months, with energy and food leading the way yet again for inflation. The Data: As of Friday morning, the University of Michigan Surveys of Consumers released the preliminary results on consumer sentiment for July 2022.

Daily Mirror

Liz Truss vows to reverse national insurance rise and 'put money into people's pockets'

Foreign Secretary Liz Truss took a swipe at ex-Chancellor Rishi Sunak’s handling of the economy and public finances. She says she opposed the national insurance rise and wants to help struggling Brits

France 24

When high fashion and the news collide: Haute Couture Winter 2022/2023

No matter the state of the world, fashion’s job is to keep people dreaming. By emphasising the power of artistry, fashion not only provides welcome distraction, but props up the economy – and can also be subtly political. At Dior, Maria Grazia Chiuri is working hand-in-hand with Kyiv-based artist Olesia…

Tribune News Service

Odds of US recession within next year near 50%, survey shows

Odds are now close to even that the U.S. economy will slip into a recession within the next year as persistent and rapid inflation emboldens the Federal Reserve to pursue larger interest-rate hikes.

The Guardian - UK

Copper price at lowest level since 2020 as fears over global economy grow

Fall comes amid concerns that soaring inflation will curb spending by large manufacturers

Birmingham Post

The huge economic impact of universities

Plans for a National Technology Institute would provide a huge boost for the city of Newport and the wider region

The Japan News/Yomiuri

Japan overlooks technological treasures it already has right under its feet

There is growing concern about Japan's science and technology. Although Japan has been putting a lot of effort into becoming a "science and technology-oriented country," its international standing has actually declined in recent years. According to a report released last year by the Education, Culture, Sports, Science and Technology Ministry,…

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