World Economy

Egyptian President Abdel Fattah al-Sisi and Saudi King Salman agreed to set up a $16 billion investment fund Saturday and settled a long-standing maritime dispute. The announcement came as the…

Turkey’s economic development, which has been “looking quite good”, hampers the exposure of “real problems”, according to OECD Working Group on Bribery chair Drago Kos, who urged that the low…

Italy’s state asset management company is nearly ready, central bank governor Ignazio Visco says, and not before time. The country’s banks badly need to shed their non-performing loans so they can…

With the IMF likely to cut its growth forecasts for Brazil on April 13, bankers and economists are starting to worry that the country will be stuck in recession for another two years at least.

For the last year and a half, Ukraine has suffered from twin crises: Russia’s aggression, which resulted in the illegal annexation of Crimea and invasion of Donbas; and a severe economic recession…

Shareholders of Starwood and Marriott have thrown their weight behind a merger of the two hotel business giants in the US, DW reported. The tie-up will create the world’s largest hotel chain, but…

Wells Fargo has agreed to pay the US government $1.2 billion for hiding most of its bad loans in the years leading up to the 2008 housing market crash, CNNMoney reported. The bank admitted it…

Japan has opened a credit line of ¥30 billion ($269 million) for Ukraine for insurance of exports/imports, deputy head of the presidential administration of Ukraine Kostiantyn Yeliseyev has said,…

Germany’s economic recovery will continue in 2016, driven by relatively strong domestic demand, says Moody’s Investors Service in a new report, Commodity Online reported.

Chairman of Commission XI of Indonesia’s House of Representatives overseeing financial affairs, Ahmadi Noor Supit, on Saturday said that if the bill on tax amnesty is passed, it will bring many…

Fresh evidence that Britain's economy has slowed at the start of the year came Saturday after industrial production saw its biggest fall in two and half years and the trade deficit remained ‘…

The BRICS bank is to finally make its capital markets debut later this month by issuing green bonds in renminbi with the proceeds to be channeled into energy and infrastructure projects.

China’s plans to shut steel mills over the next five years would cut total capacity to an estimated 1.13 billion tons by 2020, still far in excess of the country’s needs, a government official…

Turkish banks will need injections of additional capital to meet international rules on bank reserves known as Basel III that are set for implementation in 2019,…

As the Pentagon spends billions on wasteful products, it risks a major financial calamity that threatens global stability.

Greece has sealed the sale of its biggest port, Piraeus, to COSCO, the state controlled China Ocean Shipping Company, marking the second major privatization for the country since 2015, DW reported…

The Malcolm Turnbull government’s first federal budget will be prudent and responsible and won’t hand out a “fist full of dollars”.

The prime minister on Saturday began the task of managing…

The longstanding need to inject massive amount of infrastructure investment to boost Latin America’s lackluster economies moved onto center stage at the Inter-American Development Bank annual…

IMF Managing Director Christine Lagarde has weighed in on a range of topics from the global economy, the US job market, the Syrian refugee crisis and Britain’s potential exit from the European…

The Nigerian Institute of Management, NIM has lamented the ongoing nationwide scarcity of fuel. It said the development was having a huge negative impact on the economy.

The Swiss National Bank may need to keep up a steady pace of intervention to bring inflation back into positive territory and support the economy as the franc settles on what the SNB calls a “…

A key member of the European Central Bank has highlighted tensions in the international currency markets, raising the threat that competitive devaluations could have on the eurozone’s…

Suppliers to Rio Tinto face more financial pain after the global mining giant said it would double its standard payment terms to 90 days–twice as long as the average Australian business takes to…

BNP Paribas SA and its partners in a Scottish energy loan are staring at a loss of £122 million ($172 million) after entrepreneur Ian Suttie’s venture went bankrupt, illustrating the…

Hungarian consumer price index drop from 0.3% Y/Y in February to -0.2% Y/Y in March has caused a huge surprise for the market, FXStreet reported. It is expected that the inflation will return to…