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The Latest Breaking News from Economic Growth

Costa Rica's Chaves launches Pacific Alliance trade push

Costa Rican President Rodrigo Chaves said on Friday he has ordered his ministers to launch talks to join the Pacific Alliance, a multinational pact focused on boosting trade, part of the new pro-business leader's push for faster economic growth.

Reuters

Sky-high mortgages, high inflation, possible recession. How The Conversation’s panel sees the year ahead

Now in its fourth year, The Conversation’s survey draws on the expertise of leading forecasters to predict what lies ahead for the Australian economy.

The New Daily

Sky-high mortgages, 7.1% inflation, and a 20% chance of recession. How the Conversation's panel sees the year ahead

Homeowners will face mortgage rates near 5.5% in a little over a year, according to a survey of 22 leading Australian economists.

The Conversation

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Rising inflation weakens outlook for Scottish economic growth in 2023

The Scottish economy had shown healthy growth before contracting in April, but the cost of living crisis, inflation and interest rate rises are…

The National (Scotland)

Household debt crisis looms as rates hike

With interest rates set to rise in the second half of the year, increased household debt could deal a heavy blow to the Thai economy, weakening consumer purchasing power and slowing economic growth, according to KKP Research.

Bangkok Post

IMF's Georgieva Says 'Some Pain' May be Necessary to Fight Inflation

The head of the International Monetary Fund on Friday underscored the importance of fighting inflation now to shore up the prospects for economic growth in the future, warning that doing so could cause "some pain" to consumers in the short run. "Success over time (in lowering prices) will be beneficial…

Asharq Al-Awsat

Wealth of nations: Why some are rich, others are poor – and what it means for future prosperity

Why are some nations rich and others poor? Can the governments of poor nations do something to ensure that their nations become rich? These sorts of questions have long fascinated public officials and economists, at least since Adam Smith, the prominent Scottish economist whose famous 1776 book was titled “An…

The Conversation

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UK rail strikes put spotlight on cost of living crisis

Much of the UK has been crippled by the largest rail strike in decades. Some 40,000 workers participated in Tuesday's walkout, calling for higher wages to deal with the spiralling cost of living. Experts say the disruptions will weigh on economic growth. Also in the show: EasyJet is on the…

France 24

Oil Wobbles as Global Economic Worries Offset Tightening Supply

Oil prices edged down on Monday, reversing earlier gains, as concerns about slowing global economic growth and fuel demand offset worries about tightening supplies. Brent crude futures slipped 8 cents, or 0.1%, to $113.04 a barrel by 0242 GMT, after rising as much as 1% earlier. Front-month prices tumbled 7.3%…

Asharq Al-Awsat

Ontario must commit to affordable housing for all, not attainable housing

During his provincial election victory speech on June 2, Ontario Premier Doug Ford said he aimed to build more housing to make the housing market more “attainable” for everyone.

The Conversation

Making the masses understand science

The president of the National Science and Technology Development Agency (NSTDA) is committed to urging all stakeholders to pay attention to locally developed technologies, which he stressed could potentially enhance people's quality of life and drive economic growth.

Bangkok Post

Why BofA Downgrades Homebuilders Owens Corning, Dream Finders Homes

New home demand has deteriorated over the past few weeks due to the spike in mortgage rates, a sharp decline in consumer confidence and the weaker economic growth outlook, according to BofA Securities. BofA On Owens Corning

Benzinga

UTCC lowers Thai growth projection

The University of the Thai Chamber of Commerce (UTCC) yesterday downgraded its economic growth forecast to 3.1%, from the 4.2% projection it made in November 2021, largely due to rising global energy prices.

Bangkok Post

Why are central banks pushing to raise interest rates?

Banks are raising rates to bring down inflation but there is a risk to economic growth

The Guardian - UK

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Asharq Al-Awsat

Oil Prices Move Higher on Tight Supplies, Firm Demand Outlook

Oil prices recovered on Thursday from a steep drop in the previous session, supported by tight oil supply and peak summer consumption, after a US rate hike sparked fears of slower economic growth and less fuel demand. Brent crude futures rose 77 cents, or 0.7%, to $119.28 a barrel by…

The Conversation

UK inflation: how experts pick goods to track price changes and what it says about UK consumers

For the first time in several generations, inflation is a concern for people in the UK. The Consumer Price Index (CPI) rose by 9% in the year to April 2022, the highest 12-month inflation rate since reliable records began. At the same time, GDP growth has slowed to almost zero,…

Benzinga

Cannabis Retailers Drive Economic Growth, Not Crime According To Recent California Study

Oftentimes those who oppose adult-use cannabis argue that its legalization will trigger a rise in crime rates.

Bangkok Post

Global shocks prompt rethink on supply chains

Starting in the 1980s, transnational production enabled the expansion of global trade and low prices for goods, contributing significantly to economic growth. But the shocks caused by the Covid-19 pandemic and the Ukraine war have shown firms that the efficiency gains implied by the global division of labour -- and…

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Caixin Global

China Should Deepen Reforms and Opening Up to Keep Economy Stable

For the Chinese economy to stabilize, it is important to revitalize private and foreign investment, and boost market players’ confidence in China’s economic prospects

The Guardian - UK

Should Russia pay reparations for the Ukraine war?

The case is morally compelling – but it might leave Ukraine less able to sustain stable economic growth

The Guardian - UK

Britain is already in the grip of a deep malaise – what happens when zero growth bites?

Economic growth is expected to sputter to a halt: welcome to a new era of breakdown that will affect us all, says Guardian columnist John Harris

Bangkok Post

Fears of rate hikes continue to pressure equities

Recap: World stocks fell on Friday as news of imminent rate hikes from the European Central Bank and concerns over upcoming US inflation data spurred fears over global economic growth.

The Hindu

Coming decade appears promising for sustained economic growth: Niti Aayog Vice-Chairman

"The coming decade appears promising for sustained economic growth for India," said NITI Aayog said in a tweet quoting the Vice Chairman

Birmingham Post

Danske cuts Northern Ireland growth outlook on persistent inflationary cloud

The bank expects economic growth in 2023 of just 1%, down from 1.7% previously

Benzinga

A Decade Into Legal Cannabis, Americans See Legalization As A Net Positive For Economy And Society

A decade after Colorado and Washington became the first states to legalize cannabis for adult-use in the US, following the passage of Amendment 64 and Initiative 502, respectively, the majority of Americans believe cannabis has an overall positive impact on the creation of high-quality jobs – at both the local…

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