World Economy

Royal Bank of Scotland has taken a £3.1 billion ($3.92 billion) provision as it prepares to settle claims in the US that it mis-sold toxic mortgage-backed securities in the run up to the 2008…

The UK has long been a financial center and home to the world’s top banks and financial institutions. But recently, there has been an air of desperation in the country not seen since the recession…

The total economic impact of violence on the world economy in 2015 was estimated to be $13.6 trillion, according to a recent report endorsed by the World Economic Forum, which particularly…

Eurozone finance ministers failed to bridge deep divisions with the IMF over Greece’s bailout on Thursday, reaching no agreement on debt relief.

The International Monetary Fund and the 19-…

Switzerland’s UBS bank’s fourth-quarter net profit fell from the equivalent period in 2015 but still surpassed analyst expectations with the bank on Friday blaming macroeconomics and geopolitics…

Some segments of the Singapore economy are finally beginning to look brighter this year but it seems the labor market has yet to receive the memo, NewsNow reported. After a protracted period of…

China’s escalating crackdown on capital outflows is sending shudders through property markets around the world.

After almost five years of negative interest rates, Danish households are richer than ever. With more cash than they know what to do with, households are stuffing their banks full of deposits. The…

The year 2016 showed that around the world systemic corruption and social inequality reinforce each other, leading to popular disenchantment with political establishments and providing a fertile…

The post-2014 era was always going to be a challenging time for Afghanistan following security, economic, and political transitions in the country. Estimates predicted a slowdown in the high…

HSBC said it plans to close 117 branches this year and will cut 380 jobs in Britain to try to reduce costs. The bank said about 180 jobs will be eliminated in the final round of branch network…

Standard & Poor’s urged Indian Finance Minister Arun Jaitley on Wednesday to maintain the pace of fiscal consolidation in the annual budget next week and quickly reduce the country’s debt…

The Australian economy looks set to strengthen smartly in the first half of 2017, according to the latest Westpac-MI Leading Index for December, released Wednesday.

Hungary’s central bank kept its base interest rate on hold at a record low on Tuesday, sticking to its declared policy of using alternative instruments to ease monetary conditions, Reuters…

Thailand’s economy could grow faster this year than the finance ministry’s forecast of 3.4%, helped by extra government spending and improved exports, a senior ministry official said on Wednesday…

Italian seasonally adjusted industrial orders rose 1.5% month-on-month in November, after gaining a revised 1% in October (previously reported +0.9%), data showed on Wednesday, Reuters reported.…

South Africa’s sovereign credit rating could come under pressure if there is no improvement in its economic growth and fiscal performance, S&P Global Ratings’ sub-Saharan region head said on…

China’s central bank raised interest rates on a key funding tool, the Medium-Term Lending Facility, on Tuesday in its latest bid to cut debt levels and bolster financial stability.

A closely-watched survey of business confidence in Germany, Europe’s largest economy, dropped in January as managers worried about the uncertainty associated with the advent of Donald Trump’s…

World stocks hit a 19-month high on Wednesday, lifted by strong Japanese trade data, stellar European company earnings and hopes that US President Donald Trump will press ahead with a large fiscal…

The economy likely grew 7% in the last three months of 2016, matching the expansion in the two preceding quarters, as manufacturing picked up, Sun Life Financial Philippines said Wednesday.

South Korea, the fourth largest Asian economy, grew 0.4% in the three months to December marking its slowest pace in six quarters as construction investment and exports fell, Business Insider…

The EY ITEM Club’s winter forecast has predicted that the UK economy faces three years of relatively slow growth, with household incomes being squeezed due to a slowdown in consumer spending and a…

Governor of South Africa’s Reserve Bank Lesetja Kganyago on Tuesday announced, at the end of the first monetary policy committee meeting of the year, that the committee had kept the repo rate at 7…

Brazil’s central bank recorded a current account deficit of $23.507 billion in 2016, shrinking from the previous year and covered entirely by the $78.9 billion in foreign direct investment that…