World Economy

HSBC reported a steep drop in its annual net profit of 82% in 2016. The London-based bank blamed “unexpected economic and political events” for the slump. 

Europe’s biggest bank’s net…

Global rating agency Moody’s Investors Service maintained its rating on South Korea at a record high of Aa2, with its rating outlook also remaining stable, despite domestic political issues, the…

Sovereign wealth funds pulled $37.8 billion from global stock and bond markets in 2016, data from research firm eVestment showed on Monday, although fourth quarter flows showed a slowdown in the…

Eurozone economic activity unexpectedly rose to the highest level in almost six years in February as the region’s recovery became more broad-based and inflationary pressures continued to intensify…

India’s millennial population is a massive disruptive force and driven by this supportive demographics along with government’s policy action, Indian economy is likely to reach $5 trillion by 2025…

The Commonwealth Bank of Australia has been accused of refusing to pay the full employer superannuation entitlement to more than 7,000 part-time workers.

The Finance Sector Union claims…

Economic growth in developed countries slowed sharply in 2016, and eased as the year drew to a close, figures from the Organization for Economic Cooperation and Development showed Monday.

The consumer confidence index in Turkey was down in February from the previous month according to official data on Monday, Anadolu Agency reported. The index slipped 1.8% to hit 65.7 in February…

Consumer spending in Malaysia is expected to remain flat at best for the next six months, according to the forecast by market research firm Nielsen, Malaynews reported. This is based on the…

The Dutch consumer confidence index hit a 9.5 year high in February, rising 1 point on January’s total to +14. Consumers are being more positive about the economy in general and are therefore more…

India became the 12th largest holder of US government securities at the end of 2016, with exposure worth $118.2 billion, PTI reported. With holdings worth $1.09 trillion, Japan remained the…

Fitch Ratings has called attention to the mounting debt burden of households in Finland. The credit rating agency reminds in its latest country review that the debt-to-income ratio of households…

Markets in Asia finished mostly higher on Monday, with investors still turning their direction stateside, awaiting further information from President Donald Trump on his economic and tax reform…

Singapore presented a bigger budget for the coming year, providing support for the struggling sectors, but keeping a surplus in case global economic conditions worsen and put the city-state’s…

Economic protectionism will create a “snowball effect” which could leave everyone worse off, a senior international trade figure said Monday.

Japan posted a bigger-than-forecast trade deficit in January as auto exports declined and energy import costs increased.

Economists cautioned against reading the single month’s figures…

Worldwide arms trade has risen to its highest level since the Cold War in the last five years, driven by a demand from the Middle East and Asia, a study said Monday.

Activity in New Zealand’s services sector, which accounts for about two-thirds of the economy, rose last month to a near-record, with ongoing strength in wholesale and retail.

Thailand’s economy expanded less than expected in October-December from the previous three months as domestic demand slowed and tourist arrivals slumped, Reuters reported. The economy grew at 0.4…

Inequality is escalating among UK households with the difference in financial fortunes between low and high income families becoming more apparent over the past year, according to research.

Representatives of economic associations in Lebanon issued a statement late Sunday urging the government to drop the idea of raising taxes in the 2017 draft budget.

South Africa, once a standout emerging market economy, is caught in the middle of a political hurricane that's adding impetus to a downward economic spiral.

The (Persian) Gulf Cooperation Council governments have been working hard to address the rising fiscal gap following the sustained decline in oil prices, but the problems persist and further…

Portugal’s economic activity indicator, for December 2016, and the economic climate indicator, for January of this year, improved on month according to figures from the National Statistics…

Country Director of World Bank for Pakistan, Patchamuthu Illangovan (Illango) Sunday said the World Bank would continue to support and assist reforms in various sectors of the economy as it…