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The Latest Breaking News from Economy

Fed keeps focus on US economy as the world tilts toward a recession that it may be contributing to

The U.S. Federal Reserve holds inordinate sway over the world’s economies – yet it acts, in some ways, like they don’t really matter.

The Conversation

America’s Education Crisis Is a National Security Threat

A smarter world is changing the balance of power.

Foreign Affairs

DES asks for capacity from satellite auction

The Digital Economy and Society (DES) Ministry is demanding satellite capacity be allocated for state use from the winning bidders of an upcoming satellite orbital slot auction.

Bangkok Post

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UK's Truss calls on like-minded nations to unite against authoritarianism

British Prime Minister Liz Truss will call on like-minded nations to combat authoritarianism together, drawing on Russia's invasion of Ukraine to underline the need to push back against those "who weaponise the global economy".

Reuters

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

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

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

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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

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

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Reuters

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.

Daily Mirror

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

Edinburgh Live

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

The Independent UK

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.”

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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.

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.

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