The Latest Breaking News from Economy

China’s economy slows sharply as ‘zero COVID’ pummels activity

Lockdowns in dozens of Chinese cities drag consumption and industrial production to lowest levels since early 2020.

Al Jazeera · May 16, 2022

China's economy slumps from COVID-19 lockdowns, ASX rises as Brambles considers $20b takeover bid

Australian shares closed higher after a mixed day of trading, after China revealed that its economy had suffered a worse-than-expected slump in April as a result of its widening COVID-19 lockdowns.

ABC News · May 16, 2022

Onshore wind contributes £106m in rates to Scotland’s economy, industry says

Scottish Renewables said the figure shows the benefits of wind farms are not just environmental.

The Independent UK · May 15, 2022

Biden’s midterm hopes bedeviled by signs of economy in distress

President Joe Biden’s hopes for a political reset have been overwhelmed by an unrelenting series of economic setbacks, adding to the challenges Democrats face as they court exhausted voters ahead of the crucial midterm election in November.

Tribune News Service · May 15, 2022

PIF Launches Saudi Coffee Company to Further Enable Kingdom’s Food and Agriculture Sector

The Public Investment Fund (PIF) announced on Sunday the launch of the Saudi Coffee Company. The company has been established to enable Saudi Arabia’s coffee bean to be a global product in the future, and will play a vital role in developing sustainable coffee production in the southern Jazan region,…

Asharq Al-Awsat · May 15, 2022

Cryptos can lead to dollarisation of economy: RBI officials to parliamentary panel

NEW DELHI: Cryptocurrencies can lead to "dollarisation" of a part of the economy which would be against India's sovereign interest, top officials of the RBI have told a parliamentary panel, according to sources.

The Times of India · May 15, 2022

Midwest at greater risk for rolling blackouts

MINNEAPOLIS — Electricity demand on the Midwest's grid is expected to be strong this summer, with hot weather and a growing economy sucking plenty of juice.

Tribune News Service · May 15, 2022

Factcheck: Scott Morrison says Australia is a world leader in Covid recovery. Is he right?

It wasn’t a race, the prime minister famously said, yet now he’s claiming the win. Here’s how the numbers –on jobs, vaccines and the economy – really stack up

The Guardian - AU · May 15, 2022

The Northern Ireland protocol is said to be a blight on regional economy. That’s just not true

After an initial shock to businesses, manufacturing jobs are growing four times faster here than the UK average

The Guardian - UK · May 15, 2022

Iraq's Prized Rice Crop Threatened by Drought

Drought is threatening the Iraqi tradition of growing amber rice, the aromatic basis of rich lamb and other dishes, and a key element in a struggling economy. The long-grained variety of rice takes its name from its distinctive scent, which is similar to that of amber resin.

Asharq Al-Awsat · May 15, 2022