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The Latest Breaking News from Economy

Fewer Americans claim jobless benefits last week

Fewer Americans filed for unemployment benefits last week as the labor market continues to stand out as one of the strongest segments of the U.S. economy

The Independent UK

Government revision shows economy shrank 0.6% last quarter

The U.S. economy shrank at a 0.6% annual rate from April through June, the government said in a slight upgrade from its initial estimate

The Independent UK

South Sudanese return to Sudan seeking relief, but find more hardship

Living in flimsy shelters made of wood and plastic tarp or half-finished concrete buildings, South Sudanese who have returned to Sudan are finding life tougher as their former country's economy tumbles.

Reuters

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Asia Cup 2022, India vs Pakistan: How the T20I numbers stack up

NEW DELHI: One of the most celebrated rivalries in the cricketing world is the clash between arch-rivals India and Pakistan. However India vs Pakistan cricket clashes are a rare commodity now with no bilateral contest for almost a decade. The two teams play each other exclusively in the International Cricket…

The Times of India

Lebanon: Aoun, Mikati Hold Unfruitful Meeting amid Disagreement over Govt Lineup

A meeting on Wednesday between President Michel Aoun and Prime Minister-designate Najib Mikati failed to advance the talks over the formation of a new government. Well-informed sources told Asharq Al-Awsat that the two officials disagreed over the government lineup and the number of ministers. The sources noted that Mikati preferred…

Asharq Al-Awsat

Huawei founder sparks alarm in China with warning of ‘painful’ next decade

Ren Zhengfei writes in leaked memo that ‘chill will be felt by everyone’ and company must focus on survival

The Guardian - AU

India economic indicators gave mixed signals on recovery in July

NEW DELHI: India’s business and consumption activity showed conflicting signs of recovery in July as elevated inflation, rising borrowing costs and fears of a global slowdown weighed on Asia’s third-largest economy.

The Times of India

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Scottish SMEs report revenue growth, but brace for turbulent times ahead

Confidence in their own businesses contrasts with pessimism around wider economy

Insider UK

Half of China Hit by Drought in Worst Heatwave on Record

A crippling drought exacerbated by a record heat wave has spread out across half of China and reached the normally frigid Tibetan Plateau, according to official data released ahead of more searing temperatures on Thursday. The world's second-largest economy has been hit by heatwaves, flash floods and droughts -- phenomena…

Asharq Al-Awsat

Asian Markets Rise with Eyes on China, Fed Speech

Asian markets rose Thursday after China unveiled fresh measures to boost its economy, while investors awaited a speech by the Fed chair that may hold clues about future rate hikes. Central bankers are meeting in Jackson Hole in the US state of Wyoming, and all eyes are on Federal Reserve…

Asharq Al-Awsat

Asian stocks gain as global markets await Fed chair speech

Asian shares are trading higher as global markets wait for a highly anticipated speech from the U.S. Federal Reserve chair about interest rates at the end of the week

The Independent UK

Researchers want Odisha’s Angul to plan transition to green energy

Angul currently accounts for 12% of India’s and 56% of Odisha’s coal production

The Hindu

Business shrugs off PM's suspension

Business leaders expect Wednesday's decision by the Constitutional Court to suspend Prime Minister Prayut Chan-o-cha from office to have little impact on the government's administration and its ongoing efforts to spur the country's fragile economy.

Bangkok Post

Arkhom upbeat on Thai growth outlook of 3.5%

Thailand's economy could grow by 3.5% this year, depending on how the tourism and export sectors perform in the second half, says Finance Minister Arkhom Termpittayapaisith.

Bangkok Post

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Bangkok Post

Thai economic contraction beckons

Why does the Thai economy risk facing an economic contraction in the second half of this year? The answer is simple.

ABC News

Large firms dominate Australia's economy and it's costing you money, says Labor MP Andrew Leigh

Australia's economy is becoming more concentrated, and dominant firms are increasing prices.

WEKU

6 key numbers that reveal the staggering impact of Russia's war in Ukraine

Russia invaded Ukraine six months ago. In that time, thousands of people have been killed, cities destroyed, millions of people displaced and the Ukrainian economy has been battered.

AAP

Pandemic anxiety could drain $7b from NSW

Depression and anxiety related to COVID-19 lockdowns could cost the New South Wales economy $7.4 billion by 2025, according to a new report.

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The Guardian - AU

Poor mental health could result in $7.4bn in lost productivity in NSW, report finds

Exclusive: Research shows increase in depression and anxiety could result in hit on economy by 2025

Al Jazeera

Qatar to invest $3bn in Pakistan economy

The Qatar Investment Authority’s announcement comes as Pakistani PM Shehbaz Sharif visits Doha on an official trip.

Evening Standard

Sardinian government offers £13k grant for anyone to move to island

The Italian region is losing population and needs residents to help boost economy

The Canberra Times

Economy at risk of low productivity: Andrew Leigh

An ACT politician believes a lack of competition and low productivity will stagnate the economy.

Daily Record

Rishi Sunak virtually rules out backing a Liz Truss tax-cutting budget

The former chancellor who is trailing Liz Truss in the Tory leadership race said there were fundamental differences in their approach to the economy.

Bangkok Post

6 months of Putin’s war unravels Russia’s superpower image

Six months into President Vladimir Putin’s invasion of Ukraine, the war has upended fundamental assumptions about Russia’s military and economy.

Evening Standard

Oil price rebound scares investors ahead of key US Fed speech

THE price of oil surged back over $100 a barrel mark today adding to concerns about the cost of living crisis ahead of likely forecourt fuel hikes.

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