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The Latest Breaking News from Economy

Elon Musk sees US as 'probably' in recession lasting up to 18 months

NEW YORK: Elon Musk said that the US economy was "probably" in a recession -- a judgment at odds with economists and available data -- and cautioned companies to watch costs and cash flows.

The Times of India

Shanghai Says 'Zero-Covid' Achieved but Millions Still in Lockdown

Shanghai on Tuesday declared it had achieved "zero-Covid" across all its districts, sparking derision on social media as millions in China's biggest city remained under lockdown. Confronted with its worst outbreak since the beginning of the pandemic, China -- the last major economy still closed off to the world --…

Asharq Al-Awsat

The repo rate in India

How does the repo rate work? How does it affect the country’s inflation and what are the factors that influence its efficacy?

The Hindu

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Crowdwork pitfalls may need a (block)chain reaction

The gig economy offers workers flexibility – but inadequate labour protections. Blockchain may be the solution.

360info

UN Chief Calls for 'Inclusive Government' after Lebanon Vote

UN Secretary General Antonio Guterres called on Lebanon to form an "inclusive government" to tackle the country's economic crisis, after elections held over the weekend, his office said Monday. Guterres "looks forward to the swift formation of an inclusive government that can finalize the agreement with the International Monetary Fund…

Asharq Al-Awsat

China’s small businesses buckle under lockdowns, as expats exit

Beijing’s controversial “dynamic zero COVID policy” is hammering the world’s second-largest economy.

Al Jazeera

Q1 GDP growth tops forecast but Ukraine war hits 2022 outlook

Thailand's economy grew faster than expected in the first quarter supported by a pickup in agriculture and an easing of Covid-19 curbs, but higher inflation remained a drag on a fragile recovery.

Bangkok Post

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State preps perks for new economic corridors

The government is set to offer the highest level of incentives for investors in the bio-, circular and green (BCG) economy, innovation and high technology, R&D that increases the value of products, and human resources development to supply four new regional economic corridors.

Bangkok Post

Economy needs clear pathway: Somkid

A leader must have a clear vision to bring Thailand out of its economic crisis, said former deputy prime minister Somkid Jatusripitak at a public lecture on Sunday, his first since his exit from the Prayut administration in July 2020.

Bangkok Post

Cost of living crisis: immediate support from Sunak a ‘moral imperative’ – CBI

Boss Tony Danker wants chancellor to aid households skipping or having smaller meals as energy bills soar

The Guardian - UK

SCGP allots B2.45bn for output hike

SCG Packaging Plc (SCGP) plans to spend 2.45 billion baht increasing its fibre packaging production capacity by 75,000 tonnes per year to meet demand growth as the economy recovers.

Bangkok Post

How NZ could become a world leader in decarbonisation using forestry and geothermal technology

Energy is the double-edged sword at the root of the climate crisis. Cheap energy has improved lives and underpinned massive economic growth. But because most of it comes from burning hydrocarbon fuels, we’re now left with a legacy of high atmospheric carbon dioxide (CO2) and an emissions-intensive economy.

The Conversation

Bailey sets alarm bells ringing while barely mentioning the B-word

As the Convict hoped for a fudge in Northern Ireland, the Bank of England governor explained how screwed the economy is

The Guardian - UK

Libs promise savings won't impact services

The Liberal-National coalition has released the costings for its election policies and promises no essential services will be impacted by savings measures.

AAP

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Reuters

Ukraine's president discusses need for financial support with IMF's Georgieva

Ukrainian President Volodymyr Zelenskiy said on Monday he had discussed the need for financial support for Ukraine's economy during a video conference with International Monetary Fund Managing Director Kristalina Georgieva.

Tribune News Service

China’s economic activity collapses under Xi’s COVID Zero policy

China’s economy is paying the price for the nation’s COVID Zero policy, with industrial output and consumer spending sliding to the worst levels since the pandemic began and analysts warning of no quick recovery.

Birmingham Post

Half of businesses are turning down clients over ESG credentials, according to new report

BDO has published its Rethinking the economy survey

The Guardian - UK

EU growth forecast cut as war in Ukraine fuels inflation

European Commission downgrades growth prospects from 4% to 2.7%, while economy slows rapidly in China

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Radio France Internationale

Paris Perspective #29: Sanctions, oil and the Iranian experience - Ardavan Amir Aslani

Paris Perspective looks at what Iran's history of Western sanctions can tell us about similar meaures against Moscow, and whether embargos on Russian oil and gas can ever succeed in ending President Vladimir Putin's war in Ukraine.

Reason

Bad Policy Creates Inflation and Opens the Door to Even Worse Ideas

When politicians break the economy, they hurt us in the short term but also create future opportunities to do harm in the name of undoing the damage they inflicted.

Evening Standard

Don’t risk a trade war with Europe, top Tories tell Boris

Johnson says NI protocol ‘can be fixed’ as Stormont parties describe ‘robust’ meetings in crisis talks in Belfast

The Hindu

BJP works to create divide, Congress to connect with all: Rahul Gandhi

Says Narendra Modi is destroying the country’s economy

France 24

China's economy takes a hit from Covid-19 lockdowns

New data shows China's economy cooled sharply in April, as many cities including Shanghai suffered Covid-19 lockdowns. Industrial output dropped nearly 3 percent compared to a year before, while retail sales slumped 11 percent. Meanwhile, global wheat prices jump after India announces a ban on exporting the grain due to…

Axios

It's the year 2000 all over again in the economy and financial markets

That has big implications for recession risk as markets nosedive

Dynamite News

BJP govt has ruined country's economy, says Rahul Gandhi

Congress leader Rahul Gandhi on Monday accused Prime Minister Narendra Modi of destroying the country's economy, which was "strengthened" by the former UPA government. Read more on Dynamite News:

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