World Economy

Dubai-based lender Emirates Islamic is laying off 200 staff to cut costs, according to a report, Bloomberg said. An un-named source confirmed to The National newspaper that the bank…

The Reserve Bank of India cut its policy interest rate by a quarter percentage point on Tuesday, reducing it to a more than five-year low while dangling the prospect of another cut later this year…

The Chinese economy is showing signs of warming as observers eagerly await the release of first-quarter GDP data next week.

With fiscal and credit policy support beginning to take effect,…

Russia ranked fourth in the list of EU’s top trading partners in 2015, for the first time being replaced by Switzerland that ranked third, according to Russian Dozhd TV Channel, which cited data…

Japan’s crude steel output for April-June will fall 2.4% from a year earlier to the lowest for the quarter in seven years, the government said on Tuesday, Reuters reported. That would come as the…

Polish bonds fell, sending yields on five-year notes up the most in two weeks, as Moody’s Investors Service said wrangling over changes to its Constitutional Court is “credit negative…

After journalists published a tranche of documents exposing the shadowy world of offshore business, two German banks have said helping customers set up shell companies abroad is not illegal per se…

The US Treasury Department took new steps on Monday to curb tax-avoiding corporate “inversions,” with the pending $160 billion merger of Pfizer Inc and Allergan Plc seen as a potential casualty,…

Sweden’s central bank should consider formally changing its main inflation gauge to improve transparency and confidence in monetary policy, the country’s largest trade union confederation said.

The managing director of the International Monetary Fund has warned that she is “on alert” over the shaky foundations underpinning the global economic recovery and called on politicians and…

UK service sector growth remained sluggish in March as global economic uncertainty and worries about the upcoming EU membership referendum undermined business expectations.

The Markit/CIPS…

At the height of the European sovereign debt crisis, internal devaluation—economists’ jargon for “cutting wages”—was the recipe of choice for addressing the woes of the eurozone’s periphery.

Global stock markets kicked off the week mostly higher on Monday as investor sentiment was boosted by the US monthly job report showing a sustained recovery in the labor market and a rebound in…

Thailand’s central bank, the Bank of Thailand, is easing the country’s foreign-exchange rules starting from April 18 to allow individuals to invest in products linked to foreign currencies,…

Global regulators are not paying enough attention to the risks to the global economy from the insurance sector, the International Monetary Fund warned Monday.

“The contribution of the…

The release of the Panama Papers detailing the offshore financial structures of wealthy clients—including prominent politicians and celebrities—is a crime, according to the law firm at the center…

Desperate Saudi Arabia is to create a £1.4 trillion ($1.8 trillion) sovereign wealth fund to raise the cash needed to keep its economy afloat amid plunging profits from lower oil prices.

Blackstone Group LP is buying Indian IT outsourcing services provider MphasiS Ltd from Hewlett Packard Enterprise Co, in a deal that could cost the US asset manager up to $1.1 billion and be its…

Copper slid for a seventh straight session on Monday to its lowest in a month as concerns remained over demand in top consumer China, Reuters reported. Three-month copper on the London Metal…

Switzerland unveils the first redesign of its banknotes in a generation. More than a decade in the making, the bills have enhanced security features and a new design, but the changes stop…

International Monetary Fund Managing Director Christine Lagarde rebuffed Greek government calls to replace top officials overseeing the country’s bailout and said the IMF is “a good distance away…

Big British firms are delaying deals and hiring decisions ahead of a referendum on the country’s European Union membership, a survey showed on Monday, adding to signs that uncertainty around the…

The outlook for Mexico’s economy looks positive for 2016-2017. The  positive growth outlook is supported by various key factors such as rebounding economic conditions in the US on the back of…

In Europe spring is in the air and even in the downtrodden eurozone there are some brighter signs of life. The eurozone is not out of the woods yet and still has a very long way to go before…

South Africa used to exhibit the hallmarks of a strong emerging market: stable politics, sustainable growth, good management teams at companies plus a ticket to the last frontier: corporate Africa…