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The Latest Breaking News from Economic Growth

Fed's Brainard: Rates to rise higher, stay elevated longer

A top Fed official says the Federal Reserve will need to continue lifting its short-term interest rate to a level that restricts economic growth and keep it there for an extended period

The Independent UK

Kwasi Kwarteng assures City of support for Bank of England independence

New chancellor promises City bosses ‘radical’ plan for economic growth and smooths over Truss’s threat to review Bank’s remit

The Guardian - UK

Consumers drive the economy by spending savings, but inflation is set to hit hard

A massive number of Australians spending their lockdown savings on holidays and eating out drove above-trend economic growth over the June quarter.

The New Daily

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Taiwan’s Economic Slowdown (Part 1): Taiwan’s Wages Are Growing Too Slowly to Allow Profits Grow

Taiwan’s issue isn’t that consumer prices are growing too quickly. It’s that wages are growing too slowly.

The News Lens

Jim Chalmers warns GDP figures don't 'tell the full story about our economy' — as it happened

Treasurer Jim Chalmers said while the latest economic growth figures are "solid", they don't show the increasing financial pressures facing Australians. Look back on Wednesday's updates.

ABC News

How was Liz Truss’s first speech as prime minister? Our panel’s verdict

From energy and the NHS to economic growth, she has set out her priorities, if not the means of achieving them

The Guardian - UK

Britain's new PM Truss says she will tackle problems immediately

Britain's new prime minister, Liz Truss, said on Tuesday she would start tackling her three priorities immediately to spur economic growth by cutting taxes, offer help with energy bills and secure supply and tackle the public health service.

Reuters

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Saudi Non-oil Economy Reaches Highest Level since October 2021

Saudi Arabia’s non-oil economic growth reached a 10-month high in August, according to the latest Purchasing Managers Index (PMI) data from S&P Global. The Kingdom’s PMI climbed to 57.7 in August, up from 56.3 in July and the highest since October 2021.

Asharq Al-Awsat

Asian stocks mixed after China promises to boost growth

Asian stock markets are mixed after China promised to speed up policy changes to boost anemic economic growth and Australia's central bank raised its benchmark interest rate

The Independent UK

Asian markets mixed after China promises economic support

Asian stock markets are mixed after China promised to speed up the rollout of policy changes to boost anemic economic growth

The Independent UK

A prescription for healthier policy

A healthy population is both a cause and a result of economic growth and development. But achieving both today requires finance ministers to leave their comfort zones.

Bangkok Post

Cross-border trade poised to hit B1.80tn

Despite slower economic growth in neighbouring countries and zero-Covid measures in China, Thailand's cross-border trade is still expected to grow by at least 5% this year to 1.80 trillion baht, driven by greater demand for gasoline, edible oil, tyres and auto parts.

Bangkok Post

Saudi Arabia Seeks to Support Future Economies, Bridge Digital Divides

Eng. Abdullah Al-Swaha, Saudi Minister of Communications and Information Technology, said on Thursday the Kingdom has taken bold steps to support future economies and innovation. The minister revealed efforts to bridge the digital divide and to foster green energy projects in the northwestern NEOM region. He stressed that the Kingdom’s…

Asharq Al-Awsat

Veteran Malaysian journalist Subramaniam Harihar dies at 79

Subramaniam Harihar, a longtime journalist in Malaysia who covered the country’s period of extraordinary economic growth for The Associated Press, has died at age 79

The Independent UK

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Tribune News Service

US jobless claims decline for a third week to a two-month low

Applications for U.S. unemployment insurance fell for a third week to a two-month low, suggesting healthy demand for labor even as economic growth moderates.

Bangkok Post

Leaders urge varied economic focus

Industry leaders shared views of how the country should move forward, from creating multiple economic growth engines to the promotion of the electric vehicle (EV) industry, to allow Thailand to attain economic sustainability.

Bangkok Post

Bualuang upbeat on Q4 SET Index rally

Bualuang Securities (BLS) is bullish about prospects for the Thai stock market in the fourth quarter, saying tourism-related businesses would play a key role in driving economic growth and the SET Index could reach 1,705 points by the year-end.

Tribune News Service

Justin Fox: Biden's economy has the best growth record since Clinton

We’re more than a year-and-a-half into Joe Biden’s presidency, with full second-quarter economic growth numbers from the U.S. Bureau of Economic Analysis now in hand. Which seems like as good a time as any for another installment in my occasional series comparing growth rates under U.S. presidents — which somewhat…

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Bangkok Post

China slowdown means contrasting fortunes for Asia’s exporters

China’s economic growth slowdown has triggered a stark contrast in fortunes for its trading partners across Asia, with northern neighbours suffering while economies in the southeast are broadly holding up.

The Independent UK

Job vacancies rose in July, dashing Fed hopes for cooling

The number of open jobs in the United States rose in July after three months of declines, a sign that employers are still urgently seeking workers despite slowing economic growth and high inflation

The Hindu

Indian Chamber of Commerce opens Tamil Nadu state office

The chamber hopes to ‘work with the State government for economic growth’

Newsroom.co.nz

Embrace more economic growth at our peril

Focusing on GDP presents an enticing distraction from the associated ecological harm. Jack Santa Barbara argues that ignoring it is a recipe for economic and social catastrophe.

Bangkok Post

ASPS increases 2022 profit forecast for listed Thai firms

Asia Plus Securities (ASPS) has upgraded its profit forecast for listed companies in 2022 to 1.13 trillion baht as it is expecting Thailand's economic growth rate will continue to expand in the second half.

Tribune News Service

OMB: Deficits, growth lower in the near term, inflation up

WASHINGTON — The White House’s annual update to its most recent budget forecasts shows a brighter near-term picture for federal finances but a gloomier outlook for inflation and economic growth.

Roll Call

OMB: Deficits, growth lower in the near term, inflation up - Roll Call

The White House issued a brighter near-term picture for federal finances but a gloomier outlook for inflation and economic growth.

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