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The Latest Breaking News from Economy

Germany drops opposition to Russian oil ban, ministers say

Two senior ministers in Chancellor Olaf Scholz's government on Monday said Germany would be ready to back an immediate European Union ban on Russian oil imports, and that Europe's biggest economy could weather shortages and price hikes.

Reuters

Saudi Arabia, Pakistan Discuss Boosting Relations, Development

Saudi Arabia affirmed its continuous support for Pakistan and its economy and increasing investment cooperation with Islamabad. Saudi Crown Prince Mohammed bin Salman received Pakistani Prime Minister Mohammad Shehbaz Sharif in Jeddah. During the visit, the two sides exchanged views on issues of mutual concern at the regional and international…

Asharq Al-Awsat

The global stagflation shock of 2022: How bad could it get?

The double blow of pandemic and war has caused inflation to surge and growth to slow around the world. But experts do not expect a return to the 1970s

Financial Times

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Russia-Ukraine latest updates: Germany ‘ready’ to ban Russian oil

Ukraine news from May 2: Economy minister says Berlin could back embargo, as EU energy ministers debate fresh sanctions.

Al Jazeera

With interest rates about to start rising, experts estimate almost 300,000 mortgage borrowers are at serious risk of default

As interest rates rise, almost 300,000 people who took large and risky home loans during the pandemic could fall into severe financial hardship or even default.

ABC News

Germany: Quitting Russian Oil by Late Summer Is ‘Realistic’

Germany says it’s making progress on weaning itself off Russian fossil fuels and expects to be fully independent of Russian crude oil imports by late summer. Economy and Climate Minister Robert Habeck said Sunday that Europe’s largest economy has reduced the share of Russian energy imports to 12% for oil,…

Asharq Al-Awsat

Saudi Economy Grows by 9.6% in 1st Quarter of 2022, its Highest Since 2011

The General Authority for Statistics (GASTAT) published flash estimates of the Saudi Gross Domestic Product (GDP) growth rate for the first quarter of 2022, reported the Saudi Press Agency. The figures reveal that the GDP has made the highest growth rate in 10 years, achieving a growth of 9.6% during…

Asharq Al-Awsat

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Bank of England ‘duty bound’ to trigger recession to curb inflation

Ex-official says policymakers must shrink the UK economy to limit upward pressure on prices made worse by Brexit

The Guardian - UK

Italy is launching a digital nomad visa

Italy will soon roll out a new visa that allows remote workers to live in Italy even though their jobs are based abroad. Supporters hope it will attract high-earning workers and spark innovation.

WEKU

Maharashtra set to become first State with a trillion dollar economy, says Governor Bhagat Singh Koshyari

Despite thorny relations with the MVA government, Koshyari lauds its pandemic efforts

The Hindu

OPEC Fund to Finance Nigeria-Morocco Gas Pipeline

The OPEC Fund for International Development agreed with Morocco to finance the second phase of feasibility studies of a submarine gas pipeline with Nigeria, said Moroccan authorities. The legal documentation relating to the $14.3 million financing granted by the OPEC Fund to the National Office of Hydrocarbons and Mines (ONHYM)…

Asharq Al-Awsat

Newport's changing identity: The city that always seems to take one step forward and two steps back

With a brand new market and the promise of major investment, where is Newport headed?

Wales Online

The sound you can hear is the dying groans of a clapped-out government

The Tories are a scandal-ridden party that is simply bereft of ideas or direction

The Guardian - UK

Vladimir Putin ready to ‘declare all-out war on Ukraine as payback for botched invasion’

Vladimir Putin is poised to announce an all-out war on Ukraine, months after barring Russian media from referring to his nation’s invasion as a “war”.

Daily Record

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The Hindu

IPL 2022 | Happy but never satisfied, says Punjab Kings’ Arshdeep on his performance

Arshdeep has not picked up too many wickets but his economy rate in the death overs and clear approach are noteworthy

The Guardian - US

‘What am I going to do?’: soaring prices fuel calls for US government to step in

Large corporations are passing on higher-than-needed price increases to customers under the cover of inflation, war and supply chain squeezes, experts say

Daily Mirror

Vladimir Putin about to 'declare all-out war on Ukraine as payback for botched invasion'

Vladimir Putin is poised to declare an all-out war on Ukraine, according to Russian sources and Western officials, months after barring media from referring to his nation's invasion as a "war"

Bangkok Post

Netflix seen as a partner to help promote Thai tourism

The Ministry of Natural Resources and Environment plans to partner with Netflix to promote the tourism industry as a soft power tool to stimulate the country's economy during the post-pandemic period.

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Bangkok Post

BoT: Economy still on the road to recovery

While higher inflation agitated Thais and slowed the country's economy in March, the outlook remains a path towards recovery, according to the Bank of Thailand.

StockNews.com

3 Gold Stocks to Scoop Up as Economic Uncertainty and Inflation Keep Increasing

The U.S. economy shrank 1.4% in the first quarter of 2022, and gold prices reacted positively to the news. As a safe-haven asset, gold demand has surged amid uncertainties surrounding the economy and stock market. Hence, we think gold stocks Gold Fields (GFI), Yamana Gold (AUY), and DRDGOLD (DRD) might…

StockNews.com

3 Trucking Stocks to Avoid with Increasing Fears of Oversupply and Recession

Supply chain disruptions have led to rising trucking rates, and those rising rates have been attracting more supply. Furthermore, many analysts expect the economy to suffer a recession due to aggressive interest rate hikes and rising geopolitical tensions. With the possibility of oversupply and recession, we think it could be…

Miami Herald

The Week Ahead: Signs of confidence and concern among consumers

As consumers, we are a fickle bunch. Job prospects, high gasoline prices, rising interest rates, war in Ukraine, COVID-19 and politics are just some the headwinds faced by the largest share of the American economy — consumption.

France 24

Latest Kyiv attack 'clear sign of disrespect for the UN': Germany's Franziska Brantner

Germany has been in focus this week after lawmakers in the Bundestag on Thursday overwhelmingly backed a decision to send heavy weapons to Ukraine. Meanwhile, as Russia cut off gas supplies to EU member states Poland and Bulgaria over their refusal to pay for the fuel in roubles, Germany remains…

The Times of India

China facing 'tsunami' of Omicron, says top official as Shanghai, Beijing battle to curb Covid spread

BEIJING: China is facing a"tsunami" of Omicron, a senior official said on Friday, as the country reported over 20,000 Covid-19 cases with its largest city Shanghai continuing to reel under lockdown for over three weeks while over 21 million people in capital Beijing underwent third nucleic acid test amid the…

Al Jazeera

Infographic: How expensive are everyday items in Nigeria?

Since 2016, the Nigerian economy, Africa’s largest, has suffered two recessions; prices of necessities have soared.

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