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The Latest Breaking News from Economy

Saudi Arabia Expects Stronger Growth in Non-Oil Sector

Saudi Minister of Finance Mohammed al-Jadaan said he is expecting stronger-than-expected growth this year in the non-oil sector underpinned by the structural reforms under Vision 2030. Jadaan asserted that the Kingdom remains committed to prudent policies to maintain monetary and financial stability and preserve a solid fiscal position while accelerating…

Asharq Al-Awsat

China Covid Death Toll Rises

Shanghai reported 39 Covid deaths Sunday, official data showed, its highest daily toll since a weeks-long lockdown started, while China's capital Beijing warned of a "grim" situation with rising infections. The world's second-largest economy has been struggling to stamp out its worst Covid-19 outbreak in two years with a playbook…

Asharq Al-Awsat

China promotes coal in setback for efforts to cut emissions

China is promoting coal-fired power as the ruling Communist Party tries to revive a sluggish economy, prompting warnings that Beijing is setting back efforts to cut climate-changing carbon emissions from the biggest global source

The Independent UK

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Why is Belarus supporting Russia and how is it involved in Ukraine?

Old school Soviet relic Alexander Lukashenko increasingly dependent on Vladimir Putin’s patronage for survival as grip on power slips and economy teeters on brink of disaster

The Independent UK

Sanctions Hit Russian Economy, Although Putin Says Otherwise

Nearly two months into the Russian-Ukraine war, the Kremlin has taken extraordinary steps to blunt an economic counteroffensive from the West. While Russia can claim some symbolic victories, the full impact of Western sanctions is starting to be felt in very real ways. As the West moved to cut off…

Asharq Al-Awsat

Argentina will not modify $45 billion debt with IMF -finance minister

Argentine economy minister Martin Guzman said late on Friday that a $45 billion debt deal with the International Monetary Fund will not be modified, following a meeting with IMF head Kristalina Georgieva.

Reuters

Shanghai's economy slows as COVID deals blow to industry, retail

The economy of Shanghai, China's most populous city, slowed in the first quarter from the end of 2021, hurt by rare declines in industrial output and retail sales that were hammered by the country's most serious COVID outbreak.

Reuters

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Outline steps to stop price rise, Congress tells government

Opposition demands a white paper on economy as statistics show retail inflation close to 7%

The Hindu

Sanctions hit Russian economy, although Putin says otherwise

Nearly two months into the Russian-Ukraine war, the Kremlin has taken extraordinary steps to blunt an economic counteroffensive from the West

The Independent UK

South Korea split in row over military service for BTS

The K-pop superstars add billions to the economy, so should they be exempt from conscription?

The Guardian - UK

Fast, precise, too tough? Lockdowns risk stalling China’s economy

Strict response to virus buckles supply chains, hits consumers and sends unemployment soaring

The Guardian - UK

Thailand to 'fully re-open'

The Test & Go travel scheme for foreign arrivals and RT-PCR testing upon arrival will end this month as vaccinated travellers will only need to take self-antigen tests during their stay from May 1 as part of a further easing of entry rules to boost the economy and tourism.

Bangkok Post

Global economy: Back to the Valley of Death

Since the global economic crisis that originated in the United States 14 years ago, the world economy has faced regular bouts of volatility. Massive capital injections helped the US economy recover from the initial shock in 2008, but also pushed other economies with structural problems, including some in Europe, into…

Bangkok Post

Ex-Fla. Congressman David Rivera diverted $13 million from Venezuelan deal to convicted drug trafficker, others

MIAMI — As Venezuela’s economy was crashing in 2017, the country’s state-owned oil company hired former U.S. Rep. David Rivera for a costly public relations campaign to improve the tarnished image of the Venezuelan firm in the United States.

Miami Herald

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The Independent UK

Recession warning as confidence among shoppers falls to lowest since 2008 financial crash

Economy could soon shrink as shoppers slash spending and businesses take a hit

Newsroom.co.nz

New Zealand: meritocracy or mediocracy?

Mike Grimshaw argues our much vaunted ‘egalitarianism’ might actually be more the tall-poppy scything of intelligence and ability.

Manchester Evening News

Burnham: Action is needed now to help night time economy crippled by pandemic and cost of living crisis

Mayor says 'the hangover of the pandemic is going to be with us for a long time'

ABC News

Shanghai promises to improve access to food supplies and trade amid ongoing COVID-19 shutdown

Officials in Shanghai promise to ease anti-virus controls on truck drivers as they try to revive the local economy and improve food supplies while millions of people are still confined to their homes.

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The Hindu

This age of inflation

How RBI postponed the necessary course-correction

Insider UK

Azets reveals 'ambitious' growth plans among UK SMEs despite drop in optimism around the economy

It found that 51% of all small to medium sized enterprises (SMEs) across the UK and Nordics are optimistic about the economic outlook

The Independent UK

Shanghai promises to improve food supplies, trade

Officials in Shanghai have promised to ease anti-virus controls on truck drivers that are hampering food supplies and trade as they try to keep the local economy functioning while millions of people are still confined to their homes

The Guardian - UK

IMF warns Russia-Ukraine war will have ‘severe economic consequences’ for Europe – as it happened

IMF slashes growth forecasts for Europe, as pound falls 1.1% to 18-month low after sharp retail sales decline and April PMIs point to much weaker speed of recovery across UK economy

Al Jazeera

China’s GDP, dubious COVID statistics and East Timor’s election

We gather the numbers from the week’s biggest economic and business news stories so you can impress your friends.

The Guardian - UK

UK consumer confidence even lower than in 2008 financial crisis

Slowdown in retail sector feared as public gripped by pessimism about the economy as well as personal finances

Bangkok Post

Arkhom says focus is fiscal discipline

The government is focusing on maintaining financial and fiscal discipline after undertaking massive borrowing, says Finance Minister Arkhom Termpittayapaisith.

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Arkhom Termpittayapaisith

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