World Economy

Asian currencies have weakened considerably against the surging greenback in the wake of the United States Federal Reserve’s decision last week to raise a key interest rate for the first time in a…

South Korea’s household debt grew faster than disposable income in 2015, a government report showed Tuesday, amid concerns over record-high household debt.

The Bank of Japan upgraded its assessment of the economy on Tuesday while keeping monetary policy unchanged in its first decision since Donald Trump’s election victory.

The central bank…

Italian Prime Minister Paolo Gentiloni has announced he will ask parliament to approve a large funding package for the country’s troubled banks. He said the measure was needed to protect clients’…

Etihad Airways is cutting down its workforce as part of a restructuring scheme amid the current economic conditions, a spokesperson confirmed on Monday, Arabian Business reported. The Abu Dhabi-…

Royal Bank of Scotland says Scotland’s economy continues to improve, apart from the oil and gas downturn-hit north-east, energyvoice reported. In its latest quarterly Business Monitor, the…

The World Bank has upgraded its outlook on the Philippines over the next two years as the country’s economy emerged as one of Asia’s fastest growing, AsiaFirst reported. The World Bank now expects…

Struggling lender Royal Bank of Scotland is facing a fresh challenge in its long-running effort to sell 300 branches ahead of a European Union deadline.

The bank failed to attract any…

Russian President Vladimir Putin does not rule out that on the results of 2016, inflation in Russia will amount to 5.8%, which is the lowest level in a quarter century.

Roughly 700 people–that is, 0.36% of the Brazilian population–own 45% of Brazil’s GDP. And they almost always pay less tax than the average worker. A new study, conducted by economist Evilasio…

Azerbaijan saw a 5.3% drop year-on-year in foreign direct investment to $5.4 billion in the first three quarters of this year, the central bank said on Monday, Reuters reported.

Low economic growth, weak consumer and business confidence and tight liquidity conditions are expected to keep outlook of (Persian) Gulf Cooperation Council Arab non-financial corporates in 2017…

French judges on Monday found IMF chief Christine Lagarde guilty of negligence for failing to challenge a €400 million ($417 million) state arbitration payout to a business tycoon in 2008 when she…

Barclays Plc is preparing to tell 7,000 clients to do more trading with the firm or find another bank, the latest move in an industrywide trend of winnowing down customer lists to the ones that…

Blocked assets worth 180 million Swiss francs ($175.45 million) have been unfrozen by the Swiss Office of the Attorney General, the OAG said, after it dropped part of a criminal inquiry related to…

Ireland’s economy will continue to grow at a good pace over the next four years, despite the backdrop of economic and political uncertainty, according to the EY Economic Eye Winter Forecast. The…

Countries most dependent on agriculture are also at high risk of experiencing changes in climate over the next 30 years and face the biggest costs in dealing with the effects of extreme weather,…

Chinese companies have overtaken US firms in terms of volume of cross-border merger and acquisition deals.

During the first quarter of the year, Chinese companies closed M&As amounting…

Building consents in New Zealand have hit an 11-year high, activity in the services sector remains robust, while business and consumer confidence are buoyant. In construction, the number of…

Investors sound optimistic about a breakout for the world economy next year, but for all the talk of huge tax cuts from the incoming US presidency of Donald Trump, the economic outlook looks…

Turkey is seeking to increase the trade volume with Arab countries to $70 billion in 2017. The head of the Turkish-Arab Countries Business Association, Sabuhi Attar, said on the sidelines of a…

Saudi Arabia is likely to take more cost-cutting measures as local experts say the country’s deficit is expected to hit $69 billion by the end of 2016.

The figure, albeit lower than the…

Britain’s position as the most attractive place in Europe for foreign investors is at risk in the long term without quick action from the government to secure confidence.

The EY…

South Korea’s major think tanks predicted the country’s economy may grow in the low 2% range next year, citing a global trade slowdown and faltering domestic consumption amid political…

Venezuelan President Nicolas Maduro has delayed the withdrawal of the 100-bolivar banknote until January 2, IANS reported. The sudden change of policy came after days of economic crisis in the…