World Economy

Chinese banks extended 794.6 billion yuan ($115.10 billion) in new yuan loans in November and look set to lend a record amount this year as Beijing boosts the economy to meet growth targets…

The (Persian) Gulf Cooperation Council countries’ projects market is expected to record at best $120 billion worth of contract awards in 2016, down at least a third over last year and well below…

Some of the biggest names in finance are fighting for control of the London gold market—a $5 trillion, three-century-old trading hub that is being forced to adapt to a digital age.

Venezuelans have been given just three days to swap their biggest bolivar notes for coins. The South American nation will withdraw all 100 bolivar notes and replace them with coins of the same…

US industrial production fell more-than-expected last month, official data showed on Wednesday, Investing.com reported. In a report, the Federal Reserve said that industrial production fell to -0.…

Hong Kong’s construction sector saw the biggest decline in hiring over the past year amid delays in infrastructure projects, a consulting firm found, NewsNow reported.That finding came as…

Business sentiment among Japan’s automakers and other big manufacturers has improved slightly, according to the latest quarterly survey by the Japanese central bank.

The Bank of Japan’s “…

South Korea’s chief economic policymaker on Wednesday reaffirmed his pledge for stronger fiscal intervention to prop up Asia’s fourth-largest economy facing downside pressures at home and abroad…

After 16 months of implementing austerity measures he had once railed against, Alexis Tsipras, Greek prime minister, has returned to his old, anti-austerity campaign rhetoric.

Australia looks set to follow in the footsteps of India and Venezuela by abolishing the country’s highest-denomination banknote in a bid to crack down on “black economy”.

Brazil's senate has approved a 20-year public spending cap in a win for President Michel Temer's austerity reforms. The move sparked large protests with critics saying the unpopular cuts will hurt…

Just as rising oil prices finally start to lighten the European Central Bank’s quest for higher inflation, food is back as the dead-weight in the price basket.

Nigeria cut its 2017 growth forecast by half a percentage point as the ongoing economic slump slows output, the Budget and National Planning Minister Udo Udoma said, Bloomberg reported. West…

Turkey’s 2015 GDP per capita has increased from $9,130 to 11,014 after the Turkish Statistics Institute revised how it calculated the figure, Anadolu Agency reported. Around 80 million Turks got a…

UK inflation rebounded to a two-year high last month, driven by a hike in the price of clothes and fuel. The Office for National Statistics said the Consumer Price Index measure of inflation hit a…

The Middle East and North Africa region will next year record its weakest economic growth since the global financial crisis in 2009, according to a report, Arabian Business reported.

Global banking regulators have softened proposed new capital rules in a bid to ease European concerns that piling on requirements would cause banks to crimp their lending, three sources familiar…

The debt-laden country has been set ambitious economic targets by the European Commission and countries such as Germany, which are not “credible” and will hamper growth, according to the…

Brussels is set to tighten rules on when foreign workers can claim unemployment benefit, amid fears that European Union law is open to abuse.

As little as 9% of Bulgarians think that corruption levels have fallen over the past four years, the European Bank for Reconstruction and Development said on Tuesday, SeeNews reported.

Eurozone inflation may exceed ECB projections on oil price surge, the bank’s governing council member Ardo Hansson said, Investing.com reported. “There is certainty more upside than we would have…

German economic sentiment was unchanged in December, missing forecasts for a slight increase and dampening optimism over the motor of the eurozone economy, industry data showed on Tuesday.

Jobseekers of North African origin still face widespread discrimination in France, with a survey released on Monday showing 30% of big businesses preferred candidates with French-sounding names.…

Spain’s economy is expected to grow 3.2% in 2016, for the second year in a row, but slow to 2.3% in 2017 as the benefits of lower oil prices, a weaker euro and fiscal stimulus dissipate, the…

The Dutch economy has grown by 2.1% this year the government’s economic think tank said on Tuesday, thereby recovering to pre-financial crisis levels.

“With one quarter to go, 2016 has been…