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The Latest Breaking News from Economy

Tough budget challenges ahead: Gallagher

Finance Minister Katy Gallagher says there are serious challenges ahead for both the budget and the economy.

AAP

Abubakar wins primary race for Nigeria’s main opposition party

ABUJA, Nigeria — Nigeria’s main opposition Peoples Democratic Party has elected Atiku Abubakar as its presidential candidate for next year’s national election in Africa’s largest economy.

Tribune News Service

A step to the left or a lurch to the right: what next after the Liberals’ election horror show?

From doubling down on the culture wars to ‘flying with both wings’, there is no shortage of opinions on how the Liberals should shape their future

The Guardian - AU

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Saudi Economist Appointed Visiting Scholar at Stanford University

The prestigious Stanford University has recently announced appointing a Saudi economist and investment expert as a visiting scholar. Stanford Center for Sustainable Development and Global Competitiveness (SDGC) and Stanford Long Term Investing (SLTI) said they are pleased to welcome Dr. Khalid Alsweilem, PhD, as a Visiting Scholar to Stanford. His…

Asharq Al-Awsat

China's first residential REITs to be launched

China's first public real estate investment trusts (REITs) based on residential properties will be launched soon, as regulators step up efforts to channel fresh capital into the struggling real estate sector and aid a virus-hit economy.

Reuters

Gujarat to get services commissionerate

GANDHINAGAR: To boost the state's economy by strengthening the services sector, the Gujarat government has finalized plans to set up a new services sector commissionerate like the existing industries and MSME commissionerates.

The Times of India

Higher living costs slow local economy

Thailand's economic activity showed signs of slowing in the second quarter as a result of the higher cost of living, says World Bank Thailand.

Bangkok Post

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Mapping the global economy in the second half

Entering the second half of the year, financial market risks are becoming more apparent. Investors believe the risk of recession is increasing, resulting in volatile financial markets. We believe there are five major risks associated with five economic areas, as follows:

Bangkok Post

Scotland facing 'tough decisions' as finance gap highlights lack of powers

The Institute of Fiscal Studies (IFS) said that a "substantial" gap in the Scottish government's finances are likely

The National (Scotland)

New cheap flights to New York are launching from the UK with returns from £255

Cheap flights between New York and London are launching in summer 2022 with return flights from £255 in Economy - there are Premium options too

Daily Mirror

Music and light festivals to revitalise Liverpool visitor economy

Budget of more than £1m set aside for two major events

Liverpool Echo

The Standard View: Rishi Sunak’s mini-budget shows the need for a stronger economy – and safety net

If the Spring Statement could be characterised as an under-reaction to the cost of living crisis, it would be hard to accuse the Chancellor of making the same mistake twice. Rishi Sunak’s £21 billion package, paid for in part by a windfall tax on oil and gas giants, will help millions…

Evening Standard

Bank holidays: how a day off work affects the economy

The Queen’s platinum jubilee will be celebrated across the UK with parades, picnics and street parties. But perhaps the most popular event planned to mark her 70 years on the throne will be an extra day off work.

The Conversation

China punishes local officials for falsifying economic data

China has punished a number of local officials with demotions or dismissal for falsifying economic data, the country's statistics bureau said on Friday, as part of an effort to curb data fraud as the economy falters.

Reuters

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Birmingham Post

Freedom and passion are the two main drivers for entrepreneurship

The UK-wide Startup of the Year Awards had an amazing 2,500 entries

France 24

War in Ukraine risks triggering global recession, World Bank warns

Skyrocketing energy and food prices driven by Russia's invasion of Ukraine risk sending the global economy into a recession, according to the president of the World Bank. We take a look at how economic growth has already slowed in Germany. Also, stock markets try to break out of bear market…

The National (Scotland)

Rangers fans helped pump millions into Seville economy during Europa League final trip

RANGERS fans helped pump an astonishing £68 million into the Seville economy last week, according to official figures revealed by the mayor of the…

The Guardian - UK

Chinese technology shares jump as Alibaba sales exceed forecasts

E-commerce company’s revenues rise 9% to 204bn yuan despite weakening economy

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Wales Online

Even wealthy are concerned about rising inflation, study shows

This marks a shift from last year, when COVID-19 was the top threat

Asharq Al-Awsat

Al-Falih: We Have Quadrupled Foreign Investment Flows

It might seem somewhat strange for one of the biggest electric car producers to open a factory in one of the world’s major oil-producing countries, but it actually boils down to the story of the most exciting economic transformation of the 21st century. “It is one of the most exciting…

Asharq Al-Awsat

Saudi E-commerce Growth Rate Exceeds 32%

Saudi Arabia is one of the top ten countries in e-commerce, achieving an annual growth rate of more than 32 percent, announced Minister of Commerce Majid al-Qasabi. Speaking at a seminar on the "Role of E-commerce in Strengthening the Saudi-British Economic Partnership," Qasabi stressed that strengthening the e-commerce business system…

Reuters

Germany, US energy partnership includes agreements on off-shore wind and hydrogen: German minister

An energy partnership between Germany and the United States includes expanding off-shore wind power generation and co-operation on using hydrogen in industrial production, German economy minister Robert Habeck said on Friday.

Reuters

Shanghai takes baby steps towards ending COVID lockdown

Shanghai took more gradual steps on Friday towards lifting its COVID-19 lockdown while Beijing was investigating cases where its strict curbs were affecting other medical treatments as China soldiered on with its uneven exit from restrictions.

ABC News

Banned traders warn Labor government, all industries against reliance on China

Australia has never before relied so much on China for its trading wealth. However, as the devastated rock lobster industry can attest, the Asian giant can lose its appetite overnight.

StockNews.com

Why This Could Be the Long Awaited Bear Rally

Over the last couple of weeks, we've increased our allocation of stocks. Last week and earlier this week, I was uncertain whether this was the correct move. But, the last 2 days of market action are validating those moves as the S&P 500 (SPY) finally seems to be commencing its…

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