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The Latest Breaking News from Economy

How the blue economy will shape the future of Canada's oceans — and its coastal communities

The words “blue economy” will soon shape the future of Canada’s oceans, from the fiords and straits of British Columbia to the rugged coastlines of the Atlantic to the vast seascapes of the Arctic. The transformation of Canada’s ocean economies will be felt throughout the country and will set an…

The Conversation

Inflation and recession, we’re taking a trip back to the chaotic Seventies

Imagine, for just a moment, you’re an economic policymaker tasked with managing the path of an economy. Now envisage a set of economic conditions that makes your task near-enough impossible. That, unfortunately, is where many real-life policymakers find themselves today. There’s too little growth but there’s also too much inflation.…

Evening Standard

Saudi Arabia Posts Highest Economic Growth Since 2011

The Saudi General Authority for Statistics (GASTAT) revealed on Sunday that the Kingdom’s real gross domestic product (GDP) jumped by 11.8 % year-on-year (YoY) in the second quarter of 2022. The announcement countered International Monetary Fund projections that the economy will grow at 7.6% this year, the highest growth among…

Asharq Al-Awsat

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Rishi Sunak rejects claim he has ‘doomster’ attitude to economy

Former chancellor says he finds his successor’s accusation ‘amusing’ as he vows to cut income tax by 20%

The Guardian - UK

Thai baht soars 1% on rate hike drum roll

The baht appreciated more than 1% on Monday, logging a strong start to the month which is expected to see the country finally join its regional and global peers in normalising its pandemic-era stimulus policy as the economy gains traction.

Bangkok Post

Righter than right: Tories’ hardline drift may lose the public

Polls suggest leadership race may be going further than even Conservatives might want on immigration, economy and climate

The Guardian - UK

Solar is the cheapest power, and a literal light-bulb moment showed us we can cut costs and emissions even further

Recent extreme weather events have underscored the need to cut the CO₂ emissions that are driving up global temperatures. This requires a rapid transition of the energy economy to renewable energy sources, the cheapest being solar photovoltaics (PV). And our newly published research points to a way we can drive…

The Conversation

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British PM candidate Sunak vows 20% income tax cut by 2029

Rishi Sunak, trailing in the race to become Britain's next prime minister, has vowed to slash the basic rate of income tax by 20% by 2029 in a potentially make-or-break throw of the dice by the former finance minister.

Reuters

Empowering SMEs

2022 has seen an "unprecedented confluence" of challenges for businesses across the world, from the protracted Covid-19 pandemic, economic slowdown and heightened inflation to geopolitical uncertainties. Small and medium enterprises (SMEs) globally are among those hit hard by such an unfavourable environment.

Bangkok Post

Fighting Thailand's energy price wars

State energy subsidies have assumed a prominent role in the Thai economy since the start of the Russia-Ukraine war in February.

Bangkok Post

Why Bangladesh won't face a Sri Lanka-style crisis

The economic and political disaster in Sri Lanka has been a hot topic in recent months, with commentators looking around for signs of similar trouble in other emerging market economies.

Bangkok Post

Mixed feelings on recovery outlook

Bustling commuters, traffic gridlocks and crowded shopping malls have become more common in the third quarter following the country's reopening in June, fuelling hopes that Thailand is now getting back on its feet.

Bangkok Post

We need a big plan to help towns like Broke after natural disasters

I think the time has come for a permanent federal disaster levy to be dished out and run strictly by the federal government immediately for the greater good.

Newcastle Herald

Liz Truss: Who is the foreign secretary hoping to become prime minister?

Social media savvy ‘human hand grenade’ seen as continuity candidate and currently ahead of Rishi Sunak thanks to questionable tax promises and neo-Thatcherite branding

The Independent UK

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The Guardian - UK

China’s factory activity shrinks amid Covid disruption

Sharpest contraction is in energy-intensive industries, such as petrol, coking coal and ferrous metals

The Independent UK

South Africa's ANC says economy, corruption are priorities

South Africa President Cyril Ramaphosa says the fight against corruption and work to improve the country’s faltering economy have been endorsed by the ruling African National Congress party in order to improve its declining electoral support

Axios

Biden’s long-game economic success story

The president has slowly but substantially re-engineered significant parts of the American economy.

The Hindu

‘Keep economy in mind while making estimates for next budget’

Money constraints faced by the government call for austerity in the budgeting exercise, Finance department says

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The Guardian - UK

Era of soaring house prices is ending as central banks raise rates

Policies are tightening when major economies are either falling into recession or heading that way

The Guardian - US

Workers are being punished for inflation. The real culprit is corporate greed

Big corporations are using inflation as cover to raise prices. Yet the US Federal Reserve is raising interest rates – further hurting Americans

The Guardian - UK

Celebrities and tourists are flooding into Greece. But a harsh winter isn’t far off

Despite a huge increase in visitor numbers this summer, the Greek economy remains fragile and vulnerable

Tribune News Service

Meet the Russian architect of Putin’s economic counterattack

When sanctions made the Fortress Russia he helped build seem less impregnable, Maxim Oreshkin came up with a signature gambit to try and break the economic siege.

Radio France Internationale

IMF warns of seven factors which leave global economy at risk of perfect storm

The International Monetary Fund has warned that seven factors are undermining growth expectations, suggesting that the worst-case scenario would cut global economic growth to 2 percent in 2023, the lowest level in over five decades.

Evening Standard

Liz Truss 'absolutely delighted' to have Tom Tugendhat endorsement

Liz Truss says she is 'absolutely delighted' that her former Tory leadership rival Tom Tugendhat has endorsed her campaign.Tugendhat, who described Truss as being “founded on true Conservative principles” came out in support of her vision for “a growth economy.” The Chairman of the Foreign Affairs Committee also praised Truss’s…

France 24

Who are the eight economists who decide when the US is in a recession?

The US Commerce Department on Thursday announced that the country’s gross domestic product had fallen for the second consecutive quarter, although President Joe Biden said the economic data overall “doesn’t sound like a recession”. In most countries, two successive quarters of GDP decline qualify as a recession – but not…

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