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The Latest Breaking News from Economy

Budget 2023 'will balance helping people with protecting economy', says Paschal Donohoe

The Finance Minister refused to predict that the Budget would increase people’s living standards, stating that the economic outlook was currently too uncertain

Irish Mirror

With a recession looming, here's what you need to know about unemployment insurance

The U.S. economy contracted by 1.6% in the first quarter of this year, setting the stage for a recession if economic output declines again in the second quarter, said economist Anil K. Puri, director of the Woods Center at Cal State Fullerton.

Los Angeles Times

Sri Lanka's PM Wickremesinghe challenges JVP leader Dissanayake to revive country's economy in 6 months

Sri Lanka's Prime Minister Ranil Wickremesinghe on Tuesday challenged Janatha Vimukthi Peramuna (JVP) leader MP Anura Kumara Dissanayake to revive the country's economy in six months.

Dynamite News

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Russian parliament passes first vote on war economy measures

The Russian government will be able to compel businesses to supply the military with goods and make their employees work overtime under two laws to support Moscow's war in Ukraine that were approved in an initial vote in parliament on Tuesday.

Reuters

Londoner’s Diary: Francis Bacon friend hits out at Tate for returning archive

In Today’s Diary: Friend of Francis Bacon blasts Tate / Sir Ranulph still sleeps in his car/ Keir Starmer seems to blame economy for poll woes / Thomas Hardy tree to topple

Evening Standard

Thai-Cambodian MoU on suppression of cyber scams approved

The cabinet on Tuesday approved a memorandum of understanding (MoU) to be signed between the Ministry of Digital Economy and Society of Thailand and the Ministry of Posts and Telecommunications of Cambodia on cooperation in the suppression of call centres and similar scam gangs, government deputy spokeswoman Traisulee Traisoranakul said.

Bangkok Post

Fears over the pound and travel chaos send FTSE 100 sliding

YESTERDAY’s market optimism seemed to evaporate today in a cloud of worry about the pound, the UK economy and travel despair.

Evening Standard

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How the end of Roe and the Uvalde school shooting could reshape the race for Texas governor

A history-making spring in Texas is laying the groundwork for a contentious final four months in the race to lead the state, where Republican incumbent Greg Abbott remains the favorite but is confronting his toughest Democratic opponent yet in Beto O’Rourke.

The Texas Tribune

UAE Minister: CEPA Pacts with India, Israel, Indonesia to Drive 2.6% Economic Growth

The comprehensive economic partnership agreements (CEPA) signed between the UAE, India, Israel, and Indonesia in the first half of 2022 will help the national economy to grow by 2.6 percent in 2030, announced Minister of State for Foreign Trade Thani al-Zeyoudi. Zeyoudi described the growth percentage as "excellent", saying that…

Asharq Al-Awsat

Cost-of-living crisis will get worse before it gets better: Jim Chalmers

Treasurer Jim Chalmers has conceded the cost-of-living crisis will get worse before it gets better after the RBA hiked interest rates by 50 basis points.

The New Daily

I can turn around Sri Lanka’s economy: PM Ranil Wickremesinghe

Sri Lanka’s newly appointed prime minister says it will take one and a half years to stabilise the crisis-hit economy.

Al Jazeera

Argentina's farm leaders worry about new economy chief

Argentina's farm sector leaders said on Monday they were worried about the naming of an economy minister who has close ties to Vice President Cristina Fernandez de Kirchner who pushed higher export taxes on agricultural goods when she was president from 2007-2015.

Reuters

Ministry, BMA panel to tackle overhead cables

The Digital Economy and Society (DES) Ministry and the Bangkok Metropolitan Administration (BMA) have agreed to set up a joint committee to ramp up efforts to move overhead telecom cables underground.

Bangkok Post

Argentina peso drops as left-leaning economy minister named

Argentina’s peso has fallen on the first day after left-leaning Silvina Batakis was named economy minister

The Independent UK

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The Conversation

How Australia's gig workers may remain contractors under Labor's reforms

Uber Australia’s historic agreement with the Transport Workers’ Union, on the need to regulate the gig economy, is the first step in fundamental reform of gig work. It suggests the direction the Albanese government will to take to deliver better conditions for gig workers.

The Conversation

Sri Lanka scrambles for aid – but Australia still seems preoccupied by boats

When Sri Lankan Prime Minister Ranil Wickremesinghe conceded ten days ago that the Sri Lankan economy has “completely collapsed”, his words would have come as no surprise to the island’s 22 million people.

Reuters

EU rolls out $1.3 billion to help Nigeria diversify its economy

The European Union (EU) and its development finance institutions will provide Nigeria with 1.29 billion euros ($1.3 billion) to help Africa's most populous country diversify its economy away from oil, a document from the bloc showed on Monday.

Belfast Live

Ards North Down rep's say Dublin coastal funding 'collaboration' with all Ireland economy

Councillor Tom Smith says the Dublin fund "is how they reel you in, slowly but surely"

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Asharq Al-Awsat

Saudi Crown Prince Calls for Catering to Neediest Citizens amid Rising Costs

Saudi Crown Prince Mohammed bin Salman, Deputy Prime Minister and Chairman of the Council of Economic and Development Affairs, chaired on Monday a meeting of the council's meeting at the Al-Salam Palace in Jeddah, reported the Saudi Press Agency. The council reviewed a number of economic and development issues, including…

The Guardian - UK

John McDonnell calls for strict price controls on fuel and food basics

Former shadow chancellor says a radical response needed to the worst cost of living crisis in a generation

StockNews.com

Pick Up This Sturdy Consumer Staple Stock in Times of Trouble

Given the growing concerns over the Fed’s hawkish stance to tame the rising inflation and the possibility of the economy tipping into a recession, it could be wise to invest in fundamentally solid consumer staple stock General Mills (GIS). Consumer staples stocks are seen as recession-proof due to the non-cyclical…

The Independent UK

Jeremy Hunt doesn’t rule out standing in a future Conservative leadership race

‘I think we have to see what the circumstances are,’ former cabinet minister says

The Independent UK

‘Economy not partygate’ will decide next election, says Jeremy Hunt

The former foreign secretary, a persistent backbench critic of Boris Johnson, also did not rule out standing in any future leadership contest.

The Independent UK

German leader gathers employers, unions to tackle inflation

German Chancellor Olaf Scholz has gathered top employer and labor union representatives at his Berlin office to seek ways of addressing the impact of rising prices while preventing a spiral of inflation in Europe’s biggest economy

The Conversation

Pakistan: how an economic crisis has sent prices rocketing

Pakistan’s current economic struggles exemplify the little fires everywhere set alight across the global economy by a war during a pandemic. Like others in countries dependent on imported commodities — for example Ghana and Sri Lanka — Pakistanis are seeing food and fuel prices soar. Foreign exchange reserves – used…

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