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The Latest Breaking News from Economy

Nine Lebanese Banks to Withdraw from Cyprus, Official Says

Nine Lebanese banks are shutting down their operations on the Mediterranean island of Cyprus, a representative of the Cyprus Central Bank said on Tuesday. The banks will close their branches on the island within a period of time that will allow them to wind down operations in an orderly fashion,…

Asharq Al-Awsat

Sunak faces calls for help with living costs as budget deficit lower than forecast

Tax receipts are weaker than expected, revealing impact of UK’s slowing economy

The Guardian - UK

Inflation still low 'compared with others': Arkhom

Thailand's inflation is still relatively low and manageable as the economy recovers gradually and more foreign tourists return, the finance minister said on Tuesday.

Bangkok Post

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ICT Sector Could Contribute $53 Bln to Saudi GDP in 2022

The information and communication technology (ICT) sector’s contribution to the Saudi GDP reached SAR 146.9 billion ($39 billion) during the past year, with predictions it could reach SAR 200 billion ($53 billion) in 2022, a recent report revealed. Published by the Research and Information Center of the Chamber of Commerce…

Asharq Al-Awsat

Davos 2022: EU eyes ban on Russian oil as leaders discuss energy independence

With world leaders at Davos set to discuss energy independence and sustainability, Germany's economy minister says an EU ban on Russian oil could be "days away". Meanwhile, supply chain disruptions to the world economy are also on the agenda. FRANCE 24's Business Editor Kate Moody reports from the Swiss Alps.

France 24

Saudi Arabia, US Ink Deals to Establish Joint Centers in Emerging Technologies

The King Abdulaziz City for Science and Technology (KACST) signed several cooperation agreements with American research and academic bodies to establish centers of excellence in emerging technologies and implement strategic projects that enhance economic growth in the Kingdom and achieve its ambitious vision of transformation towards an innovation-based economy. The…

Asharq Al-Awsat

'Hunched' Vladimir Putin fidgets and twitches through meeting fuelling cancer rumours

Ailing tyrant Vladimir Putin fidgeted and twitched while discussing the Russian economy with Belarusian President Alexander Lukashenko - who has been branded Europe's last dictator

Daily Mirror

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Taiwan goes from 15,000 cases for all 2021 to 80,000 a day

TAIPEI: Billed a Covid-19 success story as its economy boomed through the pandemic, Taiwan is now battling a record wave of infections as it eases restrictions that had kept outbreaks at bay to start life with the virus.

Bangkok Post

Taiwan kept COVID below 15,000 cases for all 2021. Now it has 80,000 a day, testing its 'new model'

Billed a COVID-19 success story as its economy boomed through the pandemic, Taiwan is now battling a record wave of infections as it eases restrictions that had kept outbreaks at bay to start life with the virus.

Reuters

Saudi Finance Minister Expects 7.4% Growth in 2022

Saudi Finance Minister Mohammed al-Jadaan announced that the Kingdom expects a 7.4 percent growth in 2022. Speaking at a panel on the economic outlook for the MENA region at the World Economic Forum in Davos (WEF), Jadaan explained that Saudi oil GDP would grow 19 percent this year due to…

Asharq Al-Awsat

Davos 2022: International community 'must do more' on food, energy crises

The 2022 edition of the World Economic Forum is largely focused on Russia's war in Ukraine and its implications for the global economy. As food and fuel prices soar and shortages loom, the head of the UN Development Program, Achim Steiner, tells FRANCE 24's Business Editor Kate Moody that the…

France 24

China pledges support for ailing economy, analysts doubt impact

Beijing says it will roll out additional tax cuts and postpone social security payments for firms to support growth.

Al Jazeera

FTSE 100 Live: Snapchat warning hits shares, April UK borrowing at £18.6bn

The owner of Snapchat added to US economy concerns last night by warning that it will miss earnings forecasts for the current quarter.

Evening Standard

AP-NORC poll: Economy grows as priority on Russia response

Americans are becoming less supportive of punishing Russia for launching its invasion of Ukraine if it comes at the expense of the U.S. economy, a sign of rising anxiety over inflation and other challenges

The Independent UK

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Al Jazeera

East Timor’s president to focus on economy, political stability

José Ramos-Horta explains why he is focusing on the economy and why China is important ‘but not more important’.

The Independent UK

Whole country will reap rewards as Elizabeth line opens, says PM

The Government said the Elizabeth line project is supporting 55,000 jobs, 1,000 apprenticeships and is forecast to boost the economy by £42 billion.

Bangkok Post

Central bank mulls joint sandbox for NDID

The Bank of Thailand plans to collaborate with other regulatory agencies on setting up a co-regulatory sandbox to test digital identity verification through the National Digital ID (NDID) platform in the second half as part of efforts to further drive the digital economy.

Bangkok Post

Ministry says PDPA will be enforced on June 1

The Digital Economy and Society (DES) Ministry insists the Personal Data Protection Act (PDPA) will be enforced on June 1 as scheduled, despite calls from the business sector for its postponement due to a lack of preparedness, particularly among small and medium-sized enterprises (SMEs).

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Bangkok Post

Unemployment rate falls to 2-year low

Thailand's unemployment rate dropped in the first quarter to its lowest level since the start of the pandemic, boosted by higher employment both in the agricultural and non-agricultural sectors, as the economy gradually recovers.

Daily Mirror

Global economy faces 'biggest test since the Second World War', expert warns

Kristalina Georgieva, head of the International Monetary Fund, said food and energy prices are squeezing households around the world - and central banks are tightening monetary policy to rein in inflation

The Conversation

A flourishing ecology and a healthy economy? Henry David Thoreau thought you couldn't have one without the other

Australians have just decided another “climate election”. What this meant, basically, was that we had to choose between two difficult futures. The result has yielded a new mandate for meaningful work on climate policy.

Motor1

Ford Bronco Raptor Gets 15-MPG Combined Fuel Economy Rating

The Bronco Raptor's combined rating is 1 MPG better than the Jeep Wrangler Rubicon 392.

Tribune News Service

The Federal Reserve policy you’ve never heard of could have the biggest effect on your wallet

The Federal Reserve made headlines at its May meeting when it raised interest rates by the single biggest hike since 2000, but another lesser-known decision — albeit a substantially more complex one — could have an even greater influence over how much you pay to borrow money.

The Independent UK

Ex-rebel emerges as favorite in Colombian presidential race

A one-time rebel fighter has used an emotional anti-establishment discourse and promises to boost state involvement in the economy to garner a commanding lead in polls as Colombia heads into Sunday's presidential election

Reuters

World economy has 'buffer' against recession says IMF's Gopinath

While the world economy faces headwinds, current growth forecasts offer a buffer against a potential global recession, the International Monetary Fund's No. 2 official said Monday.

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