The Latest Breaking News from Economy

Hong Kong economy shrinks 4% under anti-virus controls

Hong Kong’s economy shrank by 4% compared with a year earlier in the quarter ending in March after the Chinese territory shut restaurants and other businesses to fight a spike in coronavirus infections

The Independent UK · May 3, 2022

What are capital controls and how is Russia seeking to use them to ease the pain of sanctions?

Moscow forced to introduce damage-limitation measures to control economy as ruble crashes to historic low in response to hard-hitting penalties for Ukraine invasion

The Independent UK · May 3, 2022

Why stock market valuations are diving

The stock market wasn't synonymous with the economy on the way up, and it isn't on the way down, either.

Axios · May 3, 2022

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

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 · May 3, 2022

Labor says rate rise highlights PM’s shredded credentials but Morrison insists it’s part of pandemic journey

Scott Morrison says Reserve Bank has ‘made a very important statement about where we are now in our journey out of this pandemic’

The Guardian - AU · May 3, 2022

Economy seen growing 3.5% this year: PM

Thailand's economy is expected to grow 3.5% this year, down from an earlier projection of 4.0%, Prime Minister Prayut Chan-o-cha said on Tuesday, noting how the Russia-Ukraine war could slow the economies of the country's trading partners.

Bangkok Post · May 3, 2022

Global problems may exacerbate shortages in N.Korea's isolated economy

North Korea's isolated economy will not be insulated from global economic headwinds caused by the Ukraine war and the COVID-19 lockdowns in China, analysts said, with recently resumed border trade taking a hit and inflation exacerbating food shortages.

Reuters · May 3, 2022

Slovakia says it will seek exemption from any EU embargo on Russian oil

Slovakia will seek an exemption from any embargo of Russian oil agreed by the European Union in its next set of sanctions against Moscow for its invasion of Ukraine, Slovakia's Economy Ministry said on Tuesday.

Reuters · May 3, 2022

The Pilbara is a powerhouse of the Australian economy, so why have its major towns not thrived as well?

Poor planning, a narrow industry base of FIFO workers, cyclones, heat and dust. Many obstacles stand in the way of the Deputy PM's dream of a Newcastle-sized city in the Pilbara, says an academic.

ABC News · May 3, 2022

‘I can’t see it getting any better’: could the UK be heading for a recession?

Small business owners are already being hit as consumers cut back on non-essentials

The Guardian - UK · May 3, 2022