World Economy

Thirteen hundred workers lost their jobs Friday when General Motors phased out the second shift at its Detroit-Hamtramck assembly plant. The layoffs are major blow to workers and to the city,…

The pound fell to a near-seven week low as Britain’s powerhouse service sector suffered a slowdown amid cautious consumer spending and a steep rise in costs linked to sterling’s collapse, Yahoo…

Gold fell on Friday and was on track for its first weekly decline, its worst since November, on growing expectations of a US rate hike as early as this month, Reuters reported. Spot gold dropped 0…

Russian economy is picking up and the growth will probably reach between 1% and 2% in 2017,  Prime Minister Dmitry Medvedev said Saturday, Xinhua reported. “The economic climate is changing…

Deutsche Bank AG is nearing a plan to boost capital by more than €10 billion ($10.6 billion) through an equity offering and the partial sale of its asset management unit, according to people with…

The Philippines may consider banning exports of raw minerals to encourage domestic processing and boost the value of shipments, an environment official said on Friday, as the government looks to…

The total Islamic banking assets in the UAE have increased to approximately Dh520 billion ($141.58 billion) in the past few years, said Saif Hadef Al Shamsi, assistant governor for monetary policy…

The US Federal Reserve’s long-stalled ‘liftoff’ of interest rates may finally get airborne this year as policymakers from Chair Janet Yellen on Friday to regional leaders across the United States…

Eurozone private sector business activity rose at its quickest pace in nearly six years in February, accelerating across all major economies with job creation reaching its fastest in almost a…

Japan’s core inflation has returned for the first time in more than a year owing to increased energy prices, giving signals that the country is on its path to reach its inflation target of 2%.…

Britain’s smaller companies are hoarding cash and cutting investment, bankers say, a sign of business confidence starting to wobble as the government sets off down the uncertain path of leaving…

Pakistan’s Prime Minister Nawaz Sharif says his country’s investment policy has been designed to provide a comprehensive framework for creating a conducive business environment for attraction of…

Hungary’s retail sales were up 4.7% in January, compared to the same month a year earlier, according to a first release of data published Friday by the Central Statistical Office (KSH).

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The number of Americans filing for unemployment benefits fell to near a 44-year low last week, pointing to further tightening of the labor market even as economic growth appears to have remained…

Since the end of World War II, the United States’ share in world GDP has fallen from nearly 30% to about 18%. Other advanced economies have also experienced sustained declines in their respective…

Polish airline Lot has launched new economy class fares including a hand baggage-only “saver” fare. The Star Alliance member is now offering three economy fares as part of its unbundling strategy…

There is no economic case for breaking up the United Kingdom, British Prime Minister Theresa May said in a speech attacking Scottish nationalists for being “obsessed” with independence. Scottish…

Cyprus’ unemployment rate has remained unchanged in January 2017, standing at 14.1%, according to the European Union’s Statistical Service (Eurostat) reports on Thursday.  The 14.1%…

Retail trade in the 19-nation eurozone slipped 0.1% in January compared with the previous month, with Germany and France leading the decline, AP reported. European Union statistics agency Eurostat…

The German government bunds gained Friday after reading the country’s worse-than-expected retail sales during the month of January. Also, investors will be looking forward to the release of a host…

UK banks trying to keep access to European Union markets after Brexit will have to set up full-scale operations in the bloc, European Central Bank Executive Board member Sabine Lautenschlaeger…

Less than 10% of funds spent to help poorer communities adapt to climate change impacts and adopt clean energy are reaching the people most in need of the money, finance researchers say.

The Canadian economy gained momentum in the fourth quarter of 2016 at a 2.6% annualized rate, beating expectations. The new data released Thursday by Statistics Canada compares favorably to US GDP…

Snap, the parent company of Snapchat, had a great day in its debut on the New York Stock Exchange. After pricing the IPO at $17 per share on Thursday, the stock opened at $24. It then closed the…

The UK government said it is leaning toward intervening in 21st Century Fox Inc.’s proposed 11.7 billion-pound ($14.3 billion) takeover of Sky Plc, citing the potential impact on media plurality…