World Economy

A new Emiratization initiative has been approved for the UAE’s banking sector and is scheduled to come into force in January, as the country looks to encourage more nationals into the private…

The pace of India’s real GDP growth is likely to come down to 6.5% in the current financial year on the likely impact of demonetization, while muted inflation might open room for additional rate…

While South Africa’s (Baa2 negative) government has consistently met its expenditure ceilings and is close to bringing the primary fiscal balance into surplus, low growth, revenue shortfalls and…

Greece’s bailout performance review is progressing well and its timely conclusion will be a key factor in including the country’s bonds in the ECB’s asset buying scheme, European Central Bank…

Finland may need to cut public spending by a further €1 to 2 billion next year, Finnish Finance Minister Petteri Orpo said on Saturday, Reuters reported. Orpo said in an interview with newspaper…

The International Monetary Fund said the Indonesian economy will remain stable in the medium term, and expects the country to be able to weather easily increasing uncertainties in the global…

Youth unemployment in Saudi Arabia is expected to increase from 33.5% last year to over 42% in 2030 as the Middle East continues to struggle to create enough jobs for its growing population,…

China’s economy remains steady this month even amid efforts to cool property markets, according to some of the earliest private economic indicators.

The UN Security Council’s five veto powers are close to approving new sanctions on North Korea to cut the isolated state’s earnings from exports by more than a quarter, principally by targeting…

Gold pared a third weekly drop as the dollar halted a rally that sent bullion prices to a nine-month low and pushed silver into a bear market. Bullion’s first gain in four days cut this week’s…

India’s decision to scrap some high-value notes will significantly disrupt economic activity, result in weaker consumption and economic growth in the immediate term but is expected to boost tax…

Japanese consumer prices fell again in October, but deflationary pressure showed some signs of softening—a positive development for beleaguered central bankers, MarketWatch reported. The core…

Fitch Ratings has revised South Africa’s outlook to negative from stable, while affirming the Long-Term Foreign and Local Currency Issuer Default Ratings at ‘BBB-’, CNBC reported. The issue…

Cyprus’ Central Bank chief says the island nation’s economy will grow by slightly more than 2.7% of gross domestic product in 2016 and will hover at around the same levels for the next two years,…

The (Persian) Gulf Coopertion Council countries should consider introducing a corporation tax on business profits as part of measures to boost non-oil revenue in the coming years, the…

Argentina reported its first annual trade deficit in 16 years after the new government revised data produced by the previous administration.

The International Monetary Fund forecasts Georgia’s gross domestic product will grow 2.7% in 2016 and by 4% in 2017, the IMF said on Thursday.

The IMF had earlier predicted 3.4% growth in…

Rising exports to China and Japan helped offset New Zealand’s trade deficit in October, the government statistics agency said Friday, Xinhua reported. New Zealand’s total goods exports rose 2.2%…

Venezuela’s currency—the so-called “strong bolivar”—is weakening beyond levels that analysts had forecast just a few weeks ago as an expanding money supply chases a limited amount of US dollars.…

The world’s biggest pension fund posted its first profit in four quarters as stocks rebounded, providing some respite for the Japanese state money manager after critics lambasted it for taking on…

Mexico’s economy posted its fastest growth in more than two years, and the government stuck to its outlook, insisting there was no tangible threat yet from US president-elect Donald Trump, who has…

Growth in leading eurozone economies slowed over the summer months and an expected German-led rebound at the end of the year may prove too short-lived for the European Central Bank to unwind its…

As private investment and consumption appear to have slowed down in the aftermath of the failed coup attempt, high frequency indicators suggest real GDP growth may fall into negative territory in…

OECD economists have called on member countries to boost public spending to crank up economic growth. They insisted such a policy made sense even if it meant higher government budget deficits in…

South Korea’s Daesung Industrial Gases, nearly half-owned by Goldman Sachs, will be put up for auction with first-round bids due in early December–a deal reportedly worth about 1.5 trillion won ($…