World Economy

Turkey’s central bank finally gained traction in its efforts to prop up the lira. The currency surged the most in more than a year after the regulator didn’t offer any funding to local lenders…

The British pound fell to fresh lows on Wednesday, sparking a flurry of activity at the country’s exchange houses as UK expatriates rushed to send cash home, Arabian Business reported. The British…

Romania’s economy is set to grow by 3.7% in 2017, by 3.4% in 2018 and by 3.2% in 2019, estimates the World Bank in the report regarding the World Economy Perspectives, Business Review reported.…

Business confidence in South Africa was steady in December from the prior month, with export and import volumes and the value of building plans improving, a survey showed on Wednesday, Reuters…

Chinese outbound foreign direct investment soared to a record high in 2016 to reach nearly $200 billion, a report said Wednesday.

The European Union continues to be the favorite destination…

The European currency may cease to exist in 10 years without significant economic reforms, mainly by France and Germany, according to French presidential candidate and former economy minister…

Populism and increasingly divided societies top the list of global risks compiled in a report ahead of the World Economic Forum’s 2017 gathering in Davos, Switzerland, from January 17-20, as an…

According to the Business and Consumer Surveys conducted by the Economics Research Center of the University of Cyprus, the Services Confidence Indicator rose due to firms’ more positive…

US president-elect Donald Trump’s tax cuts and spending plans could deliver a shot in the arm to the US economy, lifting growth around the world, although uncertainty about his trade policies adds…

Leading economic data released last week indicate that European economies were accelerating as 2016 drew to a close. The political uncertainties facing the region, including elections in France,…

Banks with large London operations say they will step up lobbying European officials because they are running out of arguments to convince the British government the industry needs single-market…

Brazil’s central bank will likely step up its pace of interest rate cuts on Wednesday as policymakers scramble to rescue the country’s once-vibrant economy from the worst recession on record as it…

Immigration has a generally positive economic impact on receiving countries but the benefits depend on how well the migrants are integrated, the International Monetary Fund’s First Deputy Managing…

International rating agency Moody’s Investors Service has maintained a positive outlook on India and said that beyond the short-term negative impact on growth, demonetization has the potential to…

Russia’s economy will return to modest growth in 2017 despite Western anti-Russian sanctions, with the GDP rising 1%, the Moody’s ratings agency said Wednesday, Sputnik reported. “Moody’s projects…

At a time when the currencies of emerging economies are being squeezed hard, the Thai economy, Southeast Asia’s second largest, is showing encouraging resilience. But being able to absorb shocks…

The Turkish lira hit record lows against the dollar as expectations of faster tightening by the US Federal Reserve added to domestic economic and political pressures emerging market equities in…

Rating agency Standard and Poor’s has cut Poland’s GDP growth forecast for last year to 2.8% and to 3.2% for next year, Radio Poland reported. Previous S&P’s forecasts had predicted the Polish…

Kenya’s economic growth is expected to slow down to between 5.4 and 5.7% in 2017 down from 6% in 2016, analysts said on Monday, Xinhua reported. Cytonn Chief Investments Officer Elizabeth Nkukuu…

UK business optimism is rising fast on the back of an upbeat outlook for the UK economy, according to the latest Business Trends Report by accountants and business advisers BDO LLP. Business…

The EU has proposed broadening privacy protections in electronic communications, including tracking by advertisers, in a bid to promote a digital single market worth tens of billions of euros, RTE…

French industrial production posted a surprisingly strong rebound in November, adding to a brightening outlook among both consumers and companies to signal a sharper-than-expected pick-up in…

Asian Development Bank operations for Asia and the Pacific reached all-time high of $31.5 billion in 2016, a 17% increase from $26.9 billion in the previous year.

Approvals of ADB loans,…

Egypt’s annual urban consumer price inflation jumped for the second month since the pound was freely floated last year to reach 23.3% in December from 19.4% in November, the official CAPMAS…

On Sunday, Venezuelan President Nicolas Maduro raised the country’s minimum wage by a whopping 50%. But it wasn’t much of a surprise—the country has already raised the minimum wage four times in…