World Economy

German automaker Volkswagen announced a plan to invest $650 million in an Argentina plant where it will manufacture a new sport-utility vehicle, according to a statement released by the…

Zhou Xiaochuan, the governor of China’s central bank, the People’s Bank of China, has now warned that the Chinese economy is on the verge of collapse.

In an article published on the…

Italy's slow economic recovery since 2014 is finally gathering pace, but the upturn is likely to prove short-lived as few, if any, of its structural problems have yet been fixed.

Well, it’s 11/11 on the other side of the globe which means Alibaba is already raking in loads of cash from Singles Day, otherwise known as the biggest day for global online shopping of the year…

A massive security breach that hit Equifax has cost the US credit bureau nearly $90 million so far, a figure that is set to rise further, its chief financial officer said.

With the euroland economy in the best shape in almost 20 years, now is the time to prepare for future slumps, according to European Central Bank policy maker Benoit Coeure.

Inflation in Russia will return to the target of 4% during 2018, Igor Dmitriev, head of the monetary policy department at the Bank of Russia, told journalists, Tass reported. “Dynamics of…

A looming Venezuelan debt default is unlikely to trigger any domino effect in neighboring economies as markets have long since priced in such an eventuality, economists say, AFP reported. All…

The independence crisis in Catalonia has only made a very limited impact on the Spanish economy, EU economics commissioner Pierre Moscovici said Thursday.

Portugal has once again recorded a series of positive economic results in the space of just one week. The unemployment rate hit a new low, debt yields fell to their best rates ever, overall well…

The International Monetary Fund said on Friday it has agreed to the disbursement of a $2 billion loan after a review of Egypt’s economic reforms, AFP reported. The IMF executive board is yet to…

The US Commerce Department has revealed the list of the 37 major deals signed between US and Chinese companies around President Donald Trump's trip through Asia.

The dollar value of…

House prices and rents will continue to rise as the economy continues to expand rapidly in the next two years boosted by house building, the European Commission has predicted.

Its new…

Thai commercial banks’ loans may grow close to 4% this year, while non-performing loans are expected to peak in the final quarter of the year, a senior central bank official said on Friday.

Ghana’s foreign exchange reserves dipped by 13.3% from $ 5.77 billion in June 2017 to $5.1 billion in August 2017, equivalent of three months of import cover, myjoyonline reported. According to…

Corrupt practices by Saudi royals and officials have cost the kingdom at least $100 billion over decades. Saudi Arabia's attorney general, Sheikh Saud Al Mojeb, gave the estimate of the losses…

Technological advances such as automation could increase global GDP by more than $1.1 trillion over the next 10-15 years, according to a new report from analysts at JPMorgan Asset Management…

South Korea’s economy will be in recovery mode thanks to continued export expansion and the effect from the implementation of supplementary budget, a government report said Friday.

The…

In their annual report to APEC leaders, members of the APEC Business Advisory Council called for leadership on further liberalization of trade in goods and services, and investment flows. The…

Central and southeastern European economies are on course for their strongest year of growth since the global financial crisis, in part due to a surge in wages and stronger demand from the…

Retail sales across the eurozone recorded a 0.3% rise in the month of September. However, over the year to September, sales volumes were 3.7% higher---the highest annualized rate in two years,…

The International Monetary Fund revised Serbia’s 2017 growth forecast down to 2% from 2.3% on Tuesday and urged the Balkan country to improve its business environment and accelerate public…

The total turnover in Romania’s economy went up by 9.5% in the first half of this year compared to the same period of 2016, reaching RON 609 billion ($155 billion), according to Finance Minister…

The World Bank has cut Tanzania’s economic growth forecast for this year to 6.6% from the government’s 7.1% estimate, citing policy uncertainty and sluggish private sector activity. The East…

Armenia’s growing foreign debt is a major challenge for the economy, former head of the Central Bank Bagrat Asatryan told reporters on Tuesday.