World Economy

Morocco’s central bank has approved the use of five types of Islamic banking transactions, giving a final regulatory nod for the country to launch an Islamic finance industry.

The Organization for Economic Cooperation and Development has warned of the threats that further increases in the Australian housing market could have to the national economy.

Malaysia’s economy is expected to remain resilient in 2017, supported by stable private consumption and strong corporate bond issuance, said Malaysian Rating Corporation Bhd, Malaynews reported.…

Indonesia’s economy may grow at a year-on-year rate of 5.1% in the first quarter of this year, slightly exceeding the central bank’s prediction, a senior economist has said.

The Trans-Pacific Partnership is dead; the largest free-trade zone in the world, the European Union, has splintered; and the global economy is on the way to notching up a decade of sub-par growth…

India could emerge as an alternative export market to China for South Korea amid a diplomatic row between Seoul and Beijing over the deployment of a Terminal High Altitude Area Defense battery…

Hundreds of British finance jobs are set to go as a merger between Aberdeen Asset Management and Standard Life is confirmed. It’s expected that the deal will create one of the world’s largest…

Foreign investments in India’s services sector increased 77.6% to $7.55 billion in the first nine months of the current fiscal, helped by government steps to improve ease of doing business.

Finance Minister Naci Agbal said Turkey’s budget deficit is likely to be wider than forecast this year as the government boosts spending to spur the economy, though the expansion won’t hurt fiscal…

The Nigerian economy shrunk by 1.5% in 2016 for the first time in 25 years according to the National Bureau of Statistics, the first annual contraction in quarter of a century.

The International Monetary Fund said on Saturday it had reached a preliminary agreement with Ukraine that could see the war-scarred and cash-starved nation receive fresh aid in the first half of…

The US Federal Reserve’s clear signal for a rate hike this month is posing downward risks to the South Korean economy amid the nation’s all-time-high household debt and worries over a potential…

Economic activity for Egypt’s non-oil private sector accelerated the most since 2014, a sign that growth may be recovering after authorities abandoned currency controls and secured a $12 billion…

Chinese Premier Li Keqiang warned Sunday the world's second-largest economy faces severe challenges, signaling a further deceleration as he announced a trimmed 2017 GDP growth target of "around 6.…

Business conditions in the UAE’s non-oil private sector continued to improve in February, with a sharp and accelerated increase in inflows of new work underpinning a robust expansion of output, a…

A timeline for the end of European Central Bank stimulus is taking shape among economists. Policy makers will wait until at least June before upgrading their assessment of the risks to the…

Australia is on the cusp of achieving something truly remarkable—not to mention unprecedented in modern world history.

In 26 days, as the clock ticks over to April 1, Australia will likely…

Canada’s indefatigable households kept the country’s economy growing at a 2.6% annualized pace in the final quarter of 2016, helping offset what looks to be a deepening slump in business…

Iraq has received $18 billion from the International Monetary Fund in instalments, according to the Iraqi Parliament’s economy and investment committee. Meanwhile, Britain approved Sunday a $12…

There will be no “spending sprees” in Wednesday’s budget, Chancellor Philip Hammond has warned. Hammond said any surplus cash would be used to ensure the UK had enough “gas in the tank” for the…

Portugal’s Prime Minister Antonio Costa has dismissed suggestions that the Socialist government’s success in reducing the public sector budget deficit last year by more than expected was a “…

Greece’s international lenders should lower the country’s fiscal targets from 2021 onwards to help boost its growth potential, central bank governor Yannis Stournaras said on Saturday.

Peak US travel industry body the GBTA has revealed the impact (President Donald) Trump’s travel ban has already had on the country’s business travel sector.

It has been confirmed that Italy’s economy grew by just 0.2% in the fourth quarter of last year from the previous three month period.

That means for all of 2016 it expanded by 1% year-on-…

China will create an open, competitive domestic currency market and should let a flexible exchange rate mechanism regulate the impact of capital flows and balance international payments, a deputy…