World Economy

Britain has cut its official forecasts for economic growth for the next two years, Finance Minister Philip Hammond said on Wednesday, as he delivered the country's first budget statement since…

Union Minister Venkaiah Naidu on Wednesday said that government would not roll back the demonetization move as Prime Minister Narendra Modi is aiming for a cashless economy.

China’s local governments have issued more debt through investment funds designed to skirt financing restrictions so far this year than in all of 2015, leading the central government to crack down…

Just when the market had anticipated Australian construction had hit “peak weakness”, activity has posted its biggest fall in 16 years, ABC reported. On seasonally adjusted figures from the…

Algeria has continued to record a ballooning trade deficit due to a drop in oil prices which has heralded economic problems for the North African country, ABC reported. The drop in oil prices on…

Vietnam’s Ministry of Industry and Trade has forecast an 8% rise in industrial production in 2017, the same growth rate as in 2016.

Protectionism from abroad threatens Mexico’s economy, but it is too early to say whether Donald Trump’s presidency will affect growth, the International Monetary Fund has said.

Financial markets showed the diverging path of US and eurozone monetary policy on Wednesday with Wall Street breaking new ground and the dollar perched near a 14-year high, as German bond yields…

Greek businessman Prokopis Makris believes moving to Bulgaria three years ago was the best decision he ever made.

The accountant shut his failing furniture company in Greece and opened a…

Nepal’s trade deficit almost doubled in the first four months of the current fiscal year to Rs 277.2 billion ($2.53 billion) compared to the corresponding period of the previous fiscal, as imports…

China’s big five state-owned banks plan to set up asset management companies to take advantage of the debt-for-equity swap that is part of the central government’s push to reduce corporate debt.…

Even before the US presidential election raised hopes of warmer ties with the Kremlin, some big western companies were betting Russia’s economy will soon come out of the deep freeze.

Populism has a negative impact on the long term economic outlook of Europe and Central Asia but short term growth is expected to accelerate in the region–according to a new report from the World…

The European economy is growing at its fastest pace so far in 2016, and will “continue to accelerate,” according to the latest PMI figures released by IHS Markit on Wednesday morning.

…

President-elect Donald Trump says the US will quit the Trans-Pacific Partnership trade deal on his first day in the White House, BBC reported.

According to the latest Industrial Trends Survey by the Confederation of British Industry, manufacturing order books improved in November, but export order books and output growth eased. The…

Debt-cutting measures need to be a consideration for president-elect Donald Trump, as he prepares to execute on campaign promises to boost infrastructure spending, rebuild the military and slash…

Investment bank JPMorgan Chase said the yuan is relatively stable against a basket of currencies despite continued drops against the US dollar, Xinhua reported.

World stocks rode the slipstream of the first joint all-time high for Wall Street’s four main markets since 1999 on Tuesday, with commodity firms adding extra lift as they eyed an OPEC oil output…

A value-added tax, set to be introduced in early 2018 within the UAE, would positively impact the economy, an Abu Dhabi official said, IMEinfo reported. “The proposed 5% VAT will be applied to…

South Africa’s unemployment rate rose to the highest in over a decade in the third quarter as more people started looking for employment, Yahoo reported. The unemployment rate rose to 27.1% in the…

The World Bank says people in Europe and Central Asia remain worried about job security despite modest economic growth.

The bank’s chief economist for Europe and Central Asia, Hans Timmer,…

Thailand’s economy grew at a slower pace last quarter on weaker private investment, putting pressure on the government to boost spending to help shield the economy from rising global risks and…

The government has reduced its stake in Lloyds Banking Group to just below 8%, as it continues to try and return the lender to full private ownership.

It means the taxpayer now owns only 7.…

When Credit Suisse AG pleaded guilty in 2014 to helping Americans cheat on their taxes, it promised to help the US root out suspicious accounts. Now, US investigators want to know why the Swiss…