World Economy

The Southeast Asian economy is recovering, posting the sharpest growth in a year and a half in the April-June quarter.

The shipping industry is taking a beating. About 1,000 ships capable of hauling 52 million metric tons of cargo will be cut up and sold for scrap metal this year. Owners have only ordered 293…

San Francisco Federal Reserve Bank President John Williams on Thursday joined a growing chorus of his colleagues signaling support for a US interest rate hike in the coming months, saying that…

Indonesian Finance Minister Sri Mulyani Indrawati warned tax dodgers that an eight-month tax amnesty program was their last opportunity to have all of their “sins deleted” or face “hell”…

Recent indicators “confirm that external and domestic demand are both weak,” said an economist.

Japanese manufacturers’ mood soured in August to its lowest since 2013 when the central bank…

European Central Bank rate setters agreed not to discuss any policy change at their July meeting and to keep market hopes for more stimulus in check, despite rising risks linked to Britain's vote…

US investment bank JPMorgan will include Islamic bonds, or sukuk, in its emerging markets indices for the first time from later this year, widening the appeal of Islamic instruments among global…

Italy is seeking an expansionary push for growth in the European Union as the bloc forges a new course after the UK voted to leave, Prime Minister Matteo Renzi’s junior minister for European…

Australia’s Treasurer Scott Morrison confirmed he will block foreign bidders from buying a majority stake in state-owned power network Ausgrid, saying the more than A$10 billion ($7.6 billion)…

Norway’s biggest bank thinks the Norwegian economy has bottomed out for now, predicting some new growth ahead, less reliance on oil prices and a strengthening currency. Oil prices have been rising…

Unpaid credit card balances, car loans and other forms of personal borrowings continue to hound consumers in the UAE, with total debt levels rising by 7.5% over the past year.

The World Intellectual Property Organization has included China in its list of the world's top 25 most innovative economies for the first time.

In the first six months of this year, foreign central banks sold a net $192 billion of US Treasury bonds, more than double in the same period last year, when they sold $83 billion.

China,…

The Egyptian government has opened channels of communication with a number of Arab countries and international institutions to provide up to $5 billion in financial aid over three years, in…

European grocery sales rose the least on record in the second quarter amid a UK price war and sluggish consumption in Germany and France, a study showed, Bloomberg reported. The amount spent on…

President Nicolas Maduro said Venezuela had struck $4.5 billion in mining deals with foreign and domestic companies, part of a plan to lift the OPEC nation’s economy out of deep recession causing…

Iceland has announced plans to lift nearly all restrictions on currency movements imposed on its citizens in the wake of the 2008 global financial crisis, DW reported. The measures come ten weeks…

Less than a year after the coal industry was declared to be in terminal decline, the fossil fuel has staged its steepest price rally in over half a decade, making it one of the hottest major…

The manufacturing sector in South Africa was key to creating employment as representatives from the government and the private sector said the up-skilling and training of South Africans was key to…

Singapore’s exports plunged the most in four months as orders from China, Indonesia and the US dropped. The local currency fell as the report provided more evidence that the economy is slowing.

Fahad bin Raja sells cars for a living in Saudi Arabia’s capital. Abdullah Saeed drives them. In the kingdom’s new age of austerity, both men are finding it harder to make ends meet.

Banks and bondholders accounting for more than half of Oi SA’s debt of 65.4 billion reais ($20 billion) are considering proposing a 5-year grace period and lower borrowing costs to speed up the…

While most western European markets have recovered from the Brexit shock, Italy still has a long way to go. With a looming referendum and an ongoing banking crisis, traders are paying up to hedge…

Cisco Systems Inc., the largest maker of networking equipment, will cut as many as 14,000 employees worldwide, or 20% of its workforce, CRN, which provides business news and resources for the UK…

China’s government approved a long-awaited initiative Tuesday that will give foreign investors more access to Chinese stocks by linking stock exchanges in Hong Kong and the mainland city of…