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The Latest Breaking News from Economy

Former Israeli Prime Minister Naftali Bennett Wieghs In On Controversial Judicial Reforms

“It will harm the foundations of the State of Israel, its economy and its citizens, and it may tear the rope that connects us all”

Zenger

Lunar New Year spending seen at 3-yr high

Thailand's consumer spending over the Lunar New Year period could rise 13.6% to 45 billion baht (US$1.36 billion), a three-year high, as the economy recovers and China's border reopening bolsters tourism, a university survey showed on Thursday.

Bangkok Post

Countdown in the offing for political fight over debt

The countdown toward a possible U.S. government default is in the offing

The Independent UK

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New Zealand's Ardern leaves legacy of kindness, disappointments

Jacinda Ardern has put tiny New Zealand on the map in her five years as prime minister, becoming a global icon for left-leaning politics and women in leadership, even as she struggled at home with the economy and COVID-19 restrictions.

Reuters

China reopening ‘not enough’ to power Thai growth to 4% in 2023

An upswing in tourism from China’s reopening will help boost Thailand’s economy, but isn’t sufficient to restore growth to pre-pandemic levels just yet, according to analysts.

Bangkok Post

North Korea pledges to revitalise economy after COVID ‘victory’

The secretive state claims ‘remarkable successes’ after upheaval caused by the COVID-19 pandemic.

Al Jazeera

The Sanctions on Russia Are Working

Slowly but surely, sanctions are weakening Putin.

Foreign Affairs

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North Korea calls for normalising factories, economy after COVID 'upheaval'

North Korea's parliament has outlined plans to normalise industrial production and meet its economic goals this year, despite the "worst-ever upheaval" amid the coronavirus pandemic in 2022, state media said on Thursday.

Reuters

‘Worrying picture’ for retail and tourism services over price rises – survey

The UK and Scottish governments have been urged to offer more financial relief packages to businesses.

The Independent UK

Rising costs and looming recession weigh down Scottish business growth

More than 80% of Scottish firms intend to raise prices over the next quarter

Insider UK

Is a global recession really coming up?

The world's leading economists spent most of 2022 convincing themselves that, if the global economy was not already in a recession, it was about to fall into one. But with the year 2022 end, the global slump has been postponed to the present 2023.

Bangkok Post

Weak US retail sales, factory data heighten recession concerns

U.S. retail sales fell by the most in a year and business equipment production slumped, raising concerns that the economy is losing momentum under the weight of tighter Federal Reserve policy.

Tribune News Service

Insomnia, headaches, and stomach pains: the hidden costs of gig workers’ flexibility

The ever-expanding gig economy has brought with it the rise of the independent contractor, from delivery drivers to personal shoppers and dog walkers. Compared to traditional employees, independent contractors are classified as self-employed and do not benefit from a minimum wage, paid time off, or other protections. This kind of…

The Conversation

Cisco’s CEO at Davos says most executives are ‘very optimistic’ about the economy's future—despite Americans' recession fears

While some Davos attendees warned of a looming recession, Cisco's CEO isn't worried. And Carlyle Group's co-founder argued that it might even be a good time to invest in stocks.

Fortune

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Asharq Al-Awsat

Egypt Sees High Demand from Investors after Currency Drop

Egypt is seeing good investor appetite for stakes in its state-owned enterprises, the country's planning minister said on Wednesday, as the government pursues partial privatizations to drum up funds after a sharp fall in the value of its currency. Egypt, faced with a currency crunch exacerbated by the war in…

The Conversation

Why China’s shrinking population is a big deal -- counting the social, economic and political costs of an aging, smaller society

Throughout much of recorded human history, China has boasted the largest population in the world – and until recently, by some margin.

Reuters

Davos 2023: Germany's Scholz upbeat on energy, warns on deglobalisation

Germany's energy supply for this winter is secure, Chancellor Olaf Scholz said on Wednesday, adding that the ability of Europe's largest economy to swiftly wean itself off Russian gas has shown how flexible and speedy it can be.

Salon

Will GOP blow up the world's economy?

Yes, the debt-ceiling fight is a boring, pointless political ritual — but the risk this time is off the charts

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Evening Standard

Ministers hope Chancellor Jeremy Hunt will unveil tax cuts in the autumn before 2024 election

Ministers hope Chancellor Jeremy Hunt can announce tax cuts in the autumn ahead of a General Election a year later.

Fortune

LinkedIn: Economic fears aren’t enough to stop employees jumping ship in 2023

Workers said they felt confident in their ability to find a new job, despite an uncertain economy.

Insider UK

I hope the latest government funding for ferries is the last – Swinney

Deputy First Minister responded to questions from the Economy and Fair Work Committee

The Guardian - UK

Rail strikes cost UK £1bn and settling would have been cheaper, minister admits

Huw Merriman insists the need for reform to working practices made the standoff necessary

Axios

Why China's growth and population declines matter

The post-COVID world economy could be different from the one we've come to rely on.

Fortune

Goldman Sachs CEO: 'We tried to do too much, too quickly'

David Solomon called the firm’s fourth-quarter results “disappointing" and shared his thoughts on the economy during the earnings call.

The Times of India

Union Budget 2023-24: State of Indian economy

NEW DELHI: Finance minister Nirmala Sitharaman is all set to present her fifth Union Budget on February 1. This will be the last full year budget of the Modi 2.0 government before the general elections in 2024.

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