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The Latest Breaking News from Economy

China Premier Issues Warning on Covid-hit Economy

China's premier has sounded an unusually stark warning about the world's second-largest economy, saying it must return to normal as the country's zero-Covid strategy bites into growth. China is the last major economy welded to a policy of mass testing and rapid lockdowns to eliminate virus clusters, but the strict…

Asharq Al-Awsat

Colombia candidate Gutierrez backs subsidies, businesses to stoke growth

Colombia's economy must grow by more than 5% per year and the government should fund a basic income for the poorest households if the country is to tackle deep inequality, center-right presidential candidate Federico Gutierrez said on Wednesday.

Reuters

5 ways entrepreneurs can become more psychologically resilient

Entrepreneurship is the backbone of any free-market economy. Globally, small and medium-sized businesses represent roughly 90 per cent of businesses and employ over 50 per cent of the workforce. They also contribute about 45 per cent to gross domestic product (GDP).

The Conversation

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Fed officials signal rates may head to 'restrictive' levels

Federal Reserve officials agreed when they met earlier this month that they might have to raise interest rates to levels that would weaken the economy as part of their drive to curb inflation, which has reached a four-decade high

The Independent UK

Ford To Pay $19.2M In Multi-State Settlement For False Advertising Claims

On Tuesday, the Iowa Attorney General's Office stated that Ford Motor Company (NYSE: F) would pay $19.2 million to resolve allegations that it falsely represented real-world fuel economy and payload capacity for various hybrids and pickup trucks,

Benzinga

Davos 2022: EU's Gentiloni 'confident' deal can be reached on Russian oil embargo

The war in Ukraine and its impact on the global economy continue to dominate discussions at the World Economic Forum in Davos, Switzerland. Business Editor Kate Moody has been speaking with Paolo Gentiloni, EU Commissioner for the Economy, about Europe's ongoing efforts to wean itself off Russian energy.

France 24

UAE Launches ‘Markets of Tomorrow’ Initiative

The UAE government has launched the "Markets of Tomorrow" initiative, in partnership with the World Economic Forum (WEF). The initiative aims to develop new business accelerators that will prepare the UAE's national economy to embrace business activities focused on the new economy and boost its readiness to enter tomorrow's markets,…

Asharq Al-Awsat

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Saudi Arabia, WEF Sign Two MoUs for Boosting Cooperation

The Saudi delegation participating at the annual meeting of the World Economic Forum (WEF) in Davos 2022 met with the founder and CEO of the Forum Klaus Schwab and the President of WEF Borge Brende. During the meeting, opportunities to strengthen the partnership between the Kingdom and the Forum were…

Asharq Al-Awsat

Commentary: California’s economy may seem healthy. But just wait for the next recession

The California economy may seem healthy on the surface, with home prices soaring, Silicon Valley booming and the state government posting big multi-year state budget surpluses thanks to a massive surge in capital gains tax revenues and income tax revenues from tech stocks.

Los Angeles Times

Davos gathering overshadowed by global economic worries

The risks to the global economy are leading to an increasingly gloomy view of the months ahead as corporate leaders, government officials and other VIPs gather at the World Economic Forum meeting in Davos, Switzerland

The Independent UK

Google Pumped GBP11.2 Billion in Egyptian Economy in 2021

Google directed an estimated 11.2 billion pounds ($61 million) in economic activity in Egypt in 2021, according to the Google Impact Report. The report is conducted by Public First research agency that looks at how Google products (Search, Play, Maps,YouTube and Google Ads) help people, local businesses, content creators and…

Asharq Al-Awsat

Bank of England chief economist Huw Pill on inflation, interest rates and the labour market

He believes interest rate rises could have some say to go while whether those who left the workforce due to the pandemic will return is a big question for the UK economy

Birmingham Post

Sri Lanka's prime minister tackles thorny finances, economy

Sri Lanka’s new Prime Minister Ranil Wickremesinghe has been sworn in as finance minister as this Indian ocean island nation confronts its worst economic crisis in memory

The Independent UK

Interest rate set to rise, but uncertain recovery clouds timing - BoT

Thailand's policy interest rate will have to rise but the timing will hinge on the monetary policy committee's view with the economy growing below its potential and the recovery facing uncertainty, the Bank of Thailand (BoT) board chairman said on Wednesday.

Bangkok Post

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Birmingham Post

Jones Village Bakery to create 100 new jobs on new production line

The investment at the Wrexham firm has been hailed as a major boost for the local economy

The National (Scotland)

Holyrood set for first debate on solar power

FORMER rural economy secretary Fergus Ewing is urging the Scottish Government to show the “same kind of ambition” for solar power as for other…

Benzinga

Qatar To Invest $12.5B Into UK Economy: Report

The government of Qatar has announced plans to invest £10bn ($12.5 billion) in the U.K. over the next five years, with a focus on major economic sectors including technology, healthcare, infrastructure and clean energy.

Bangkok Post

Phuket 'ready' to host major events

Phuket is signalling its readiness to host major international events, with two tourism events slated to take place next month as part of its bid to promote investments and revive the island's economy.

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The Independent UK

Ford pays $19M to settle claims on fuel economy, payload

Ford Motor Company has settled claims by 40 U.S. state attorneys general that the company made misleading claims about the fuel economy and payload capacity of some of its vehicles

StockNews.com

How a Potential Recession Could Impact the Markets

A raging debate is brewing on Wall Street about whether a recession is imminent for the economy. In today's commentary, I want to give my take on this matter. (Spoiler Alert: Yes, I think a *technical* recession is likely). Then, talk about why this debate is rather unimportant and more…

Reuters

Germany changing its China policy with higher priority for human rights, says minister

Germany is changing the way it deals with China and will give higher priority for human rights issues, Economy Minister Robert Habeck said on Tuesday, following fresh media reports about human rights violations in the Xinjiang Uyghur Autonomous Region.

The New Daily

Michael Pascoe: Opportunity knocks for Australia in China

I suspect Anthony Albanese will be a better PM than he was Opposition Leader – his talents more suited to making things work than tearing things down.

Benzinga

Chinese Social Media Weibo Bans Another Business Leader After He Questions China's Zero Covid Policy

Weibo Corp (NASDAQ:WB) banned Trip.Com Group Limited (NASDAQ:TCOM) co-founder and Chair James Liang for alleged violation of laws, Reuters reports. The social media company neither elaborated on the violation nor cited the reasons behind the ban. Liang had recently questioned the wisdom of the country's zero-COVID strategy as the country's Presidential election draws closer. Also…

France 24

Cambodian minister ‘believes’ full reconciliation with US to come

FRANCE 24 interviewed Kao Kim Hourn, Cambodia's minister delegate to Prime Minister Hun Sen, from the World Economic Forum in Davos. Hourn said he believes a full reconciliation with the US will occur. He affirmed that no Chinese military base has been established in Cambodia, and said that China does…

The Guardian - UK

Ukraine invasion may be start of ‘third world war’, says George Soros

Veteran philanthropist tells World Economic Forum civilisation ‘may not survive’ what is coming

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