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The Latest Breaking News from Economy

70% say they don’t trust Government’s ability to improve public services

Trust in the Government’s ability to improve the NHS, schools and other public services has plummeted to a record low as the country is gripped by a wave of strikes, a new poll revealed on Monday.

Evening Standard

How many more interest rate hikes? RBA boss Philip Lowe gives clues

Home owners will be slugged with another mortgage bill squeeze after the Reserve Bank raised its interest rates for the 10th time in a row.

The New Daily

UAE Approves Developing the Circular Economy Policy 2031

The Emirati Cabinet approved developing the UAE Circular Economy Policy 2031, as an updated framework to achieve the objectives of the UAE in the circular economy, the UAE's Green Agenda 2030, and the UAE Centennial 2071. The Agenda includes developing 22 policies in various fields, including sustainable transport, sustainable food…

Asharq Al-Awsat

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Yemeni Officials, Experts Call for Using New Saudi Deposit for Economic Reform

Yemenis are optimistic that a Saudi deposit in the Central Bank will contribute to economic recovery, stop the collapse of the local currency, and control prices, especially with the approach of the month of Ramadan. Saudi Arabia deposited $1 billion in the Central Bank of Yemen’s legitimate government, in a…

Asharq Al-Awsat

Will Russia sanctions dethrone ‘King Dollar’?

A flood of nations is trying to cut dependance on the dollar, fearing ‘weaponisation’ by the US. But it won’t be easy.

Al Jazeera

Powell to face Senate grilling on Fed rates and inflation

If measures of the U.S. economy keep coming in hot, as they did in January, the Federal Reserve will likely have to raise interest rates even higher than it has already signaled — and keep them there longer — Chair Jerome Powell will likely warn in testimony to Congress on…

The Independent UK

Bank of America CEO predicts ‘slight’ US recession this year

Bank of America CEO Brian Moynihan says he expects mild downturn in third quarter of 2023.

Al Jazeera

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UK shoppers slash spending as price rises and energy bills bite

February figures from BRC highlight impact of cost of living crisis on British economy before budget

The Guardian - UK

McThai adds B100m to investment plan

McThai Co, the operator of McDonald's restaurants, has upgraded its investment plan, increasing spending to 300 million baht this year, up from 200 million in its earlier plan, after witnessing a recovery in consumption and the economy.

Bangkok Post

Asia's very complicated pause in interest rates

Interest-rate pauses aren't exactly in trouble, but things are beginning to look awkward for officials eyeing a decent break. World growth isn't falling off a cliff and inflation has failed to ease up quite as expected in some big economies. The more fortitude the expansion shows, the greater the risk…

Bangkok Post

Türkiye’s Opposition Names Kilicdaroglu to Take on Erdogan in Election

Turkish opposition leader Kemal Kilicdaroglu emerged on Monday as the main challenger to President Recep Tayyip Erdogan in landmark elections expected on May 14, after a six-party alliance picked him as expected as its presidential candidate. Kilicdaroglu, 74, head of the country's second-biggest party, aims to emerge from Erdogan's shadow…

Asharq Al-Awsat

Ministry of Labour and Phra Ratchawang Municipal Police Station inspect illegal alien workers

With the aim of strengthening national security and economy, Minister of Labour Mr. Suchart Chomklin on 24 February 2023 ordered the Department of Employment (DOE) to visit Pak Khlong Talad (Flower Market) to inspect illegal alien workers vying for Thai workers’ jobs.

Bangkok Post

Inflation pressures put Powell in spotlight before Congress

When Federal Reserve Chair Jerome Powell last appeared before Congress, in June 2022, inflation had reached a four-decade high of nearly 9% and showed no sign of easing

The Independent UK

Scholz says labor, climate challenges loom for Germany

German Chancellor Olaf Scholz says his country faces considerable challenges, but also opportunities, in the coming years as it seeks to transform toward a green economy with a shrinking workforce

The Independent UK

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Birmingham Post

Spring Budget: Hargreaves Lansdown says green economy and net zero must be at heart of government priorities

The Bristol-based financial services firm warned UK was ‘lagging’ behind other countries when it comes to investment in green tech

Evening Standard

Hunt’s tinkering won’t set the economy straight

City comment: If the Chancellor’s exciting new plan costs or saves less than £25 billion, it is a waste of time.

The Guardian - AU

Interest rate rises: is there a less painful way to curb inflation?

The Reserve Bank of Australia’s monetary policy has been criticised as unfair and ‘too blunt’. But what are the alternatives?

Evening Standard

Hunt’s tinkering won’t steer the economy straight

City comment: If the Chancellor’s exciting new plan costs or saves less than £25 billion, it is a waste of time.

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The Independent UK

South African leader grapples with ever-worsening power cuts

South Africa’s ever-worsening power crisis — putting homes and businesses without electricity for up to 10 hours per day — is strangling Africa’s most developed economy

Evening Standard

OPINION - The Standard View: We need legal, safe routes for refugees coming to Britain

A functioning immigration system is not only critical for public confidence but also for Britain’s economy and the responsibility of being able to offer safe haven to those who need it the most. At present, we are falling short on all three metrics.

Radio France Internationale

French economy minister strikes anti-inflation deal with supermarkets

On Monday, the Finance and Economy Minister, Bruno Le Maire, launched a three-month anti-inflation drive, in cooperation with most major French supermarket chains. Under the plan, which will cost the companies "several hundred million euros", a selection of products will be made available at the lowest price possible.

The Independent UK

Singapore Airlines condemned for introducing ‘horrible and cheap-looking’ paper plates on flights

Customers threatened to take their business elsewhere as a result of the new trial

Caixin Global

Editorial: To Boost Confidence, Actions Speak Louder Than Words

Strong implementation of reform policies is pivotal to restoring the private sector’s confidence and stabilizing its expectations

Fortune

How the IMF naively parroted Putin’s fake statistics–and botched its economic forecast for Russia

The IMF simply does not have the data it needs to independently calculate Russia’s GDP by any accepted method.

The Independent UK

Unions vow to shut France's economy down amid pension battle

Unions are threatening to shut down France’s economy this week in what they hope is their toughest riposte yet to President Emmanuel Macron’s plan to raise the retirement age

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