World Economy

A new $500 million World Bank loan will help create jobs in Upper Egypt by enhancing the business climate and improving infrastructure and the delivery of services, TradeArabia reported.

Nigerian President Muhammadu Buhari Saturday promised to revive the nation’s economy, restore the value of the naira and drive hunger from the land, AllAfrica reported. In a national broadcast to…

Kenya’s economy grew faster in the second quarter of this year compared with the same period in 2015, lifted by expansion in agriculture and a strong recovery in tourism, the statistics office…

Russia’s economy will enter the growth phase at the beginning of next year, Prime Minister Dmitry Medvedev said Saturday in an interview, Sputnik reported.

China's currency renminbi, or the yuan, officially joined the elite reserve currency basket of the International Monetary Fund, in its latest step on its way to becoming a global currency.

India’s external debt was $479.7 billion as of end-June 2016, showing a decline of $5.4 billion, or 1.1%, over its level at end-March 2016, primarily on account of a decline in commercial…

More than half of US farm workers are undocumented immigrants, according to the US Department of Labor. Yet, that pool of workers is shrinking.

Deutsche Bank AG jumped the most in almost six months after a media report that the lender is nearing a $5.4 billion settlement with the US Department of Justice, less than half the amount…

Vietnam must continue to maintain stability, accelerate restructuring and improve the competitiveness of the economy in the face of ongoing global headwinds, members of a think-tank reported…

Sterling edged up on Friday but was on track for a fifth consecutive quarter of losses against the dollar—the currency’s worst run since 1984.

Saudi Arabia's economy grew at its slowest rate in more than three years between April and June, government data shows, and some analysts said the figures might be understating the extent of the…

Canada’s economy advanced 0.5% in July, the second month of recovery from a significant decline in May and a better showing than many economists predicted.

The growth was led by a return to…

Federal Reserve Chairwoman Janet Yellen said late Wednesday that the central bank has no “fixed timetable” for raising interest rates but that she believes the economy is ready for a rate hike by…

Saudi Arabian Monetary Agency has asked local banks to reschedule consumer loans after the government cut bonuses and other financial perks for public sector workers, Reuters quoted local media as…

The Democratic Republic of Congo’s central bank has raised the main interest rate from 2% to 7% in a bid to contain galloping inflation, the bank said on Thursday, as low commodity prices continue…

The South African bond market was a lot weaker on Friday morning, as it tracked steep losses in the rand, BDLive reported. The yield on the benchmark R186 ($13.35) was at 8.760% in early trade,…

As Deutsche Bank’s current sickness continues to set alarm bells ringing, the financial medics’ attention is focusing ever more closely on the health of the global banking system–and despite…

Reports issued this week by the World Trade Organization and the International Monetary Fund point to worsening stagnation in the global economy and a consequent rise of nationalist tensions.

Confidence in Turkey’s economy recovered strongly in September, despite economic and political challenges, data from statistics office TUIK showed on Thursday.

The World Bank has predicted that economic growth in sub-Saharan Africa is expected to fall further to 1.6% this year, the lowest level in over two decades, Reuters reported. The latest…

ING Groep NV, the largest Netherlands lender, will announce thousands of job cuts at its investor day on Monday, Dutch newspaper Het Financieele Dagblad reported Friday, citing unidentified people…

Germany’s second largest lender Commerzbank said it plans to cut 9,600 jobs, nearly a fifth of its current level of 51,300, by 2020 and withhold dividends to pay for a €1.1 billion restructuring…

Eurozone inflation doubled in September to the highest level since late 2014, but remained well below the European Central Bank’s target, the flash estimate from Eurostat showed Friday.

The…

Germany’s central bank sees no need for a new global stimulus package like the one advocated by the International Monetary Fund, as it expects the world’s economy to continue to recover,…

The UK current account deficit widened in the second quarter as the trade gap hit a 2 1/2-year high and Britain continued to record heavy outflows of investment income.