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The Latest Breaking News from Economy

South Africa leader fights for political future over scandal

The president of South Africa is fighting for his political future in a dramatic reversal of fortunes for an anti-apartheid icon once admired for tackling the problems of Africa’s most developed economy

The Independent UK

Moody’s Says Saudi Economic Growth at 10.2%, Driven by Non-Oil Sector Development

Moody’s said that the Saudi economy grew by 10.2 % during the first nine months of 2022.

Asharq Al-Awsat

WA budget surplus rises slightly in mid-year review as Mark McGowan eyes potential storms

Premier Mark McGowan paints a bleak picture of what's ahead for Western Australia's economy as he announces a $1.8 billion surplus for the next year.

ABC News

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Australia’s unemployment rate remains at 3.4% in November as 64,000 new jobs added

National jobless rate remains at near 50-year low as rebounding economy faces labor shortages from lack of migration

The Guardian - AU

Unemployment rate remains at 3.4 per cent

Australia's unemployment rate has stayed at 3.4 per cent, with another 64,000 jobs added to the national economy, the latest labour force figures reveal.

AAP

Lower and middle income families to 'feel the pinch' in 2023 as the economy begins to tank, ESRI says

The economists at the ESRI (Economic and Social Research Institute) have highlighted trouble coming down the tracks

Irish Mirror

World Bank eyes slower Thai growth

The Thai economy is projected to recover faster than expected this year, but will face slower growth in 2023 because of global headwinds, according to the World Bank.

Bangkok Post

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B600 minimum wage is quite doable

The most debated economic topic of the month must be Pheu Thai Party's campaign promise to raise the minimum wage to 600 baht per day by 2027, from the current minimum wage of 354 baht.

Bangkok Post

Powell says Fed still has a ‘ways to go’ after half-point hike

Chair Jerome Powell said the Federal Reserve is not close to ending its anti-inflation campaign of interest-rate increases as officials signaled borrowing costs will head higher than investors expect next year.

Tribune News Service

Bank of England poised to raise borrowing costs to combat inflation

Financial markets expect 0.5 percentage point increase as fears mount that UK is about to enter long recession

The Guardian - UK

EPA Report: Tesla Had Lowest Emissions, Highest Fuel Economy In 2021

Tesla's numbers far exceed any other brand since it only produces zero-emissions vehicles. As brands add EVs to their lineups, they'll just begin to catch up.

InsideEVs

2 Fast Food Stocks to Buy Ahead of a Potential Recession

Despite inflation cooling down, the Fed’s aggressive monetary policy could push the economy into a recession. Given this backdrop, we believe quality fast food stocks Domino’s Pizza Group (DPUKY) and Nathan’s Famous (NATH) could be wise additions to your portfolio to garner good returns. Fast food stocks tend to be…

StockNews.com

North of England rail chaos stems from ‘toxic combination’ of issues, MPs hear

Late, inadequate and overbooked trains are costing the regional economy half a billion pounds a year

The Guardian - UK

Scotland ranked among worst countries for unsustainable material consumption

SCOTLAND has been ranked among the worst nations for unsustainable material consumption, according to a new report.

The National (Scotland)

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Salon

African nations tap into oil wealth

The continent's vast oil reserves could spell trouble for the climate — and for Africans

Bangkok Post

Economy in recovery, bolstered by tourists: Arkhom

Thailand's economy is still on the recovery path and should grow 3.4% this year and 3.8% next year, supported by a rebound in its vital tourism sector, the finance minister said on Wednesday.

StockNews.com

4 Stocks With More Room to Run in 2023

Inflation eased again in November, which could allow the Fed to slow interest-rate hikes into the following year. Overall, the odds of the economy avoiding an anticipated recession are increasing. Given this backdrop, quality stocks CVS Health (CVS), ADT (ADT), ODP Corporation (ODP), and Universal Logistics (ULH) will likely see…

The Independent UK

What is inflation and what is its current rate in the UK and Europe?

UK inflation hit a 41-year high in October as gas prices soar

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Wales Online

47% of us are looking for a side-hustle in the cost of living crisis

Freelance life can also be financially unnerving, with many existing support platforms taking 20% of the money freelancers make

Asharq Al-Awsat

Khalifa Port Expansion Project Inaugurated at $1.08 Bln Total Investment

United Arab Emirates President Sheikh Mohamed bin Zayed Al Nahyan inaugurated on Tuesday the Khalifa Port expansion project at a total investment of AED4 billion ($1.08 billion). “The Khalifa Port expansion project is one of the specialized national projects and is considered a significant addition to the country’s ports and…

Motor1

Average US Vehicle Fuel Economy Was 25.4 MPG In 2021

Stellantis ranked as the automaker with the lowest fuel economy.

Asharq Al-Awsat

World Bank: Iraq Must Pursue Greener Growth Model

Iraq, a top oil exporter battered by climate change impact, must diversify its economy and pursue a “greener growth model,” the World Bank said Tuesday. In a new report presented to authorities in Baghdad, the Washington-based institution said $233 billion must be invested by 2040 to allow Iraq to embark…

Belfast Live

Mourne, Gullion and Strangford's UNESCO Global Geopark award in sight after decade's work

"The Geopark will support a more sustainable community and boost the local economy"

Financial Times

Russia’s wartime economy: learning to live without imports

Rather than provoking a dramatic collapse, international sanctions are causing a steady degradation of the country’s productive capacity

Bangkok Post

Economy can withstand global risks, says finance minister

The Thai economy is still on the recovery path and should grow 3.4% in 2022 and 3.8% next year, supported by a rebound in the vital tourism sector, Finance Minister Arkhom Termpittayapaisith said on Wednesday.

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