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The Latest Breaking News from Economy

Worst natural disaster in eight years kills 1,000 in Afghanistan

At least 1,000 people have been killed and hundreds more injured after a powerful earthquake hit southeastern Afghanistan overnight, setting off a new humanitarian crisis in a country already facing a crumbling economy and hunger.

Tribune News Service

Billionaire Ray Dalio Warns Of Stagflation, Calls Fed 'Naïve And Inconsistent' For Raising Interest Rates

Billionaire hedge fund manager Ray Dalio recently offered his take on whether rising interest rates could help improve the economy.

Benzinga

$1-trillion scope for digital economy: PM Modi

Xi Jinping cautions against ‘bloc confrontation’

The Hindu

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Powell: Fed will decide on rate hikes 'meeting by meeting'

Federal Reserve Chair Jerome Powell underscored the Fed’s determination to raise interest rates high enough to slow inflation, a commitment that has fanned concerns that the central bank’s fight against surging prices could tip the economy into recession

The Independent UK

Expecting 7.5% economic growth rate this year: PM Modi

NEW DELHI: The government expects Indian economy to grow by 7.5 per cent this year, Prime Minister Narendra Modi said on Wednesday.

The Times of India

Boris Johnson told 'get on with the job' by Keir starmer as country faces more rail strikes and soaring inflation

At Prime Minister's Questions, the Tory leader came under fire for his handling of the economy and the rail strikes.

Daily Record

Could Germany keep its nuclear plants running?

Every domestic energy source, including nuclear power, is under consideration as Germany seeks to fuel its economy and ward off a recession considered likely if faltering Russian gas supplies stop completely.

Reuters

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Sri Lanka’s economy has ‘collapsed,’ prime minister says

Sri Lanka’s economy has “completely collapsed” and an agreement with the International Monetary Fund is the only path to revival, Prime Minister Ranil Wickremesinghe told the parliament on Wednesday.

Tribune News Service

Family of Hungry Panda delivery rider killed at work awarded $834,000 in landmark decision

Family to receive compensation for death of Xiaojun Chen in what union says is first case where a gig economy worker has been considered an employee

The Guardian - AU

Teachers call for inflation-beating pay rise and warn of strike action

NEU says average teacher salaries are at their lowest level compared to average earnings across the economy in over 40 years

Wales Online

Meet the new chair of East Midlands Freeport

It has been argued that freeport will support 61,000 jobs and bring an extra £8.9bn into the local economy over 30 years

Birmingham Post

UK-GCC trade deal could add £130m to Welsh economy says Government

Talks for a trade agreement between the UK and the Gulf Cooperation Council start in Riyadh, Saudi Arabia today

Birmingham Post

UAE Boosts ‘Self-Sufficiency’ Through Industrial Localization

UAE's Minister of Industry and Advanced Technology Sultan al-Jaber said that the COVID-19 pandemic and recent geopolitical challenges disrupted supply chains and affected the global economy, "an experience from which we extracted many lessons." The Minister explained that one of the most important lessons is that "regardless of global economic…

Asharq Al-Awsat

North East set to take the hardest hit from Brexit, report says

Report from the Resolution Foundation says that Brexit has damaged Britain's competitiveness and will hit wages in the years ahead

Chronicle Live

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The Independent UK

Sri Lanka PM says economy 'has collapsed,' unable to buy oil

Sri Lanka’s prime minister says its debt-laden economy has “collapsed" after months of shortages of food, fuel and electricity

Dublin Live

Leo Varadkar refuses to 'definitively rule out' emergency budget measures to tackle fuel crisis

Mr Varadkar said that Ireland's economy was in a good position and the Government would be able to help people with the cost of living

The National (Scotland)

Inflation spike 'extremely worrying' for struggling Scots, Kate Forbes says

SCOTLAND’S Finance Secretary has warned the state of the UK’s economy is “extremely worrying” as inflation hit a new 40-year high.

Bangkok Post

Thai economy to grow 3% this year, 3.7% next year - state agency

Thailand's economy is expected to grow by 3% this year and 3.7% next year, driven by exports, increased domestic demand and a recovery in tourism, the state planning agency said on Wednesday.

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Bangkok Post

Gradual hike in policy rate to limit side effects: BoT minutes

The Bank of Thailand's (BoT) rate committee held its key interest rate steady earlier this month, but noted that gradual hikes would allow the economy to adjust smoothly and limit negative side effects, minutes of the meeting showed on Wednesday.

Asharq Al-Awsat

Tunisia Urges IMF to Consider Social Impact of Reforms

Tunisian President Kais Saied on Tuesday urged the International Monetary Fund to take into account the social impact of any economic reforms it may demand as part of a bailout package. The North African country has been in preliminary discussions with the global lender for a new loan to save…

Asharq Al-Awsat

Emir of Qatar Says Global Economy to Shrink by a Third

Emir of Qatar Sheikh Tamim bin Hamad Al Thani warned on Tuesday of a wave of global economic stagnation and inflation that the world has not seen in 45 years, citing a slowdown of growth in the global economy by about a third this year. Speaking at the opening of…

Evening Standard

Inflation at new 40 year high of 9.1% - economy on ‘knife edge’

UK in clear danger of falling into recession

The Guardian - UK

UK inflation rises to fresh 40-year peak of 9.1% as cost of living crisis worsens – as it happened

Higher food, energy and record petrol prices push up inflation in May, as bread, cereal and meat become more expensive

The Independent UK

Sri Lanka's crisis cripples once burgeoning middle class

Sri Lanka’s economic crisis, the worst in its history, has completely recast the lives of the country’s once galloping middle class

The National (Scotland)

Report reveals how much Brexit will cost Scots workers in next decade

BREXIT will lead to a “poorer and less productive” UK in the decade ahead, with workers in Scotland predicted to lose out the equivalent of…

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