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The Latest Breaking News from GDP

Oil Steady as Market Awaits China GDP Data

Oil prices were steady on Monday as investors eyed Chinese economic data for signs of demand recovery in the world's second-largest oil consumer. Brent crude futures nudged 7 cents lower to $86.24 a barrel by 0746 GMT, while US West Texas Intermediate crude was at $82.47 a barrel, down 6…

Asharq Al-Awsat

World Bank: Peace Deal in Yemen Would Push Toward Sustainable Growth

The World Bank has revealed that in case a lasting truce or peace arises, the Yemeni economy could register more sustainable growth within months of the agreement.

Asharq Al-Awsat

China’s Economy Expected to Rebound as Zero-Covid Era Fades

China is expected to announce an economic rebound on Tuesday, when Beijing releases its first quarterly GDP figures since abolishing growth-sapping Covid restrictions late last year. The Asian giant's virus containment policy -- an unstinting regime of strict quarantines, mass testing and travel curbs -- strongly constrained normal economic activity…

Asharq Al-Awsat

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‘Britain is back’ after mini-Budget meltdown, says Jeremy Hunt

Although the Chancellor restored some confidence in the economy following the mini-Budget UK GDP is on track to contract by 0.3 per cent across 2023

Evening Standard

IMF Warns: MENA Region Faces 4 Challenges

Growth of the real GDP in the Middle East and North Africa (MENA) region is projected to slow this year to 3.1 percent from 5.3 percent in the previous year, announced Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), Jihad Azour. Azour added…

Asharq Al-Awsat

Economic hit from public sector strikes worth it to tame UK inflation, says Hunt

Chancellor’s remarks come despite industrial action being major factor in zero GDP growth in February

The Guardian - UK

Bank’s chief economist says UK economy still set to contract this quarter

Huw Pill said the latest GDP figures are ‘somewhat disappointing’ despite being an improvement on previous forecasts.

The Independent UK

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GCC-listed Companies Register Record Profits

Companies listed in the GCC markets registered record profits last year, achieving remarkable financial results that came in parallel with a significant improvement in post-pandemic economic activity, resulting in one of the best GDP growth rates in 2022. A Gulf report issued on Wednesday showed that the industrial activity in…

Asharq Al-Awsat

EU adds Russia's Wagner mercenary group to sanctions list

The European Union on Thursday added Russia's Wagner mercenary group to its sanctions list for "actively participating in the Russian war of aggression against Ukraine" as US authorities made an arrest in connection with the leak of confidential documents. Follow our blog to see how the day's events unfolded. All…

France 24

Global economy not on the cusp of another 2008 - Bank of England governor

The UK’s economy showed no growth in February, narrowly avoiding a recession despite decades-high inflation

Insider UK

UK’s economy flatlined in February as teachers’ strikes drag on growth

Analysts expected GDP to grow by 0.1 per cent in February

The Independent UK

FTSE 100 Live: ‘Recession could be back on the table’; shares close up 0.3% on US inflation good news

Superdry and Dr Martens today revealed trading setbacks in a session when the FTSE 100 index has maintained recent progress.

Evening Standard

Hopes of economic rebound are hobbled by wave of strike walkouts

Zero growth in latest GDP figures casts a shadow on the economy

Evening Standard

Strikes drag UK economic growth to a standstill; mortgage defaults rising as households struggle – as it happened

Latest GDP report shows that civil service and teachers’ strikes held back service sector growth, leading to no growth in February

The Guardian - UK

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The Guardian - UK

UK national debt will continue to rise over next five years, says IMF

Forecast by Washington-based body puts at risk Rishi Sunak’s pledge to cut debt as share of GDP

The Guardian - AU

Australia is not a high-tax country. So why can’t we have a conversation about the T word?

We need to get real about how we pay for the services we want if we are to fund a growing budget challenge

Evening Standard

UK economy: Set-piece moment looms from latest growth readout

Test for more resilient showing from UK economy due on Thursday from GDP data for February

Newsroom.co.nz

Climate inaction likely to cost billions – Treasury

Purchasing overseas carbon credits to meet New Zealand's Paris target instead of reducing climate pollution at home could cost $3.3b to $23.7b.

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The Guardian - UK

Is the Ukraine war boosting or damaging the Russian economy?

IMF suggests invasion spending is pushing up GDP but academics argue non-military economy is foundering

The Conversation

Mental health plays a big role in advancing the economy - we need a measure beyond GDP

Indonesia is performing comparatively well in its economic growth amid the current global economic slowdown.

The Independent UK

Predicted 0.08% boost from UK-Asia trade deal could be overestimate

Trade department used different approach to estimating economic boost which ‘generates larger estimated GDP impacts’

Fortune

Which global economy does your state match up to?

Fortune compares each state to the country with the most similar GDP. Texas, meet Canada; New York, meet Brazil.

Bangkok Post

Region told to rev up decarbonisation

Southeast Asia needs to accelerate decarbonisation of its global value chains (GVCs) as the region could face up to a 30% loss of GDP annually by 2100 due to climate change, according to the Asian Development Bank (ADB).

The Conversation

Why Britain’s new CPTPP trade deal will not make up for Brexit

The UK recently announced that it will join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), giving British businesses access to the 11 other members of the Indo-Pacific trade bloc and bringing its combined GDP to £11 trillion.

Asharq Al-Awsat

Fitch Upgrades Saudi Arabia’s Economy to A+

Fitch ratings has upgraded Saudi Arabia’s Long-term foreign-currency issuer default rating (Idr) to ‘A+’ from ‘A’, with stable outlook. This reflects Saudi Arabia's strong fiscal and external balance sheets, with government debt/GDP and sovereign net foreign assets (SNFA) considerably stronger than both the 'A' and 'AA' medians, and significant fiscal…

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