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The Latest Breaking News from Economic Growth

OPEC Sees Slower 2023 Oil Demand Growth

OPEC expects global oil demand to rise in 2023 but at a slower pace than 2022, the producer group said in its first forecast for next year, citing still robust economic growth and progress in containing COVID-19 in China. In a monthly report on Tuesday, the Organization of the Petroleum…

Asharq Al-Awsat

What the controversial 1972 'Limits to Growth' report got right: Our choices today shape future conditions for life on Earth

The 1970s launched an environmental reckoning across the U.S. Spurred by rising public concern, corporations and national leaders pledged to protect resources, and created new laws and agencies to lead that effort.

The Conversation

Why factory jobs for Ethiopian women haven't translated into greater participation in politics

Until the war in Tigray started in November 2020, Ethiopia was a favoured investment destination. It had experienced strong economic growth for the previous decade.

The Conversation

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India to surpass China as most populous country in 2023: UN report

NEW DELHI: India is set to surpass China as the world's most populous country in 2023, with each counting more than 1.4 billion residents this year, a United Nations report said on Monday, warning that high fertility would challenge economic growth.

Bangkok Post

India to surpass China as most populous country in 2023 -UN report

India is set to surpass China as the world's most populous country in 2023, with each counting more than 1.4 billion residents this year, a United Nations report said on Monday, warning that high fertility would challenge economic growth.

Reuters

Commerce secretary: Let’s not be 'talking ourselves' into recession

Commerce Secretary Gina Raimondo on Sunday predicted slower economic growth as the country grapples with inflation but said that won’t necessarily mean a recession, which is marked by two straight quarters of negative economic growth.

Tribune News Service

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

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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

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

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

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Asharq Al-Awsat

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%…

The Conversation

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.

Bangkok Post

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.

Benzinga

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

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Bangkok Post

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.

The Guardian - UK

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

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…

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

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