World Economy

After a one-day summit in the US Arctic’s biggest city, leaders from the world’s northern countries acknowledged that climate change is seriously disrupting the Arctic ecosystem, yet left without…

Unemployment in the euro area unexpectedly declined to its lowest level in more than 3 years, signaling the region’s recovery is gaining pace even as dark clouds from China draw on the horizon,…

The sun is shining and Russian wheat exporters should be making hay. Farmers are reaping one of their biggest harvests. On top of that, a slump in the ruble that’s hurting domestic…

South Korea’s exports in August suffered their biggest fall in six years, hit by weak global demand and falling prices, the trade ministry said on Tuesday, AFP reported. Exports plunged 14.7% on-…

Cargo volumes at Al Maktoum International, Dubai World Central, continued to rise sharply in the first half of 2015, as the airport rose up the ranks of the top cargo airports worldwide taking the…

The sharp decline in oil prices over the past one year has started to impact the UAE real estate market in a big way, with property transaction levels falling across Abu Dhabi, Dubai and Sharjah,…

The Brazilian government sent a proposal to the Congress for the 2016 federal budget, which foresees a deficit of 30.5 billion reais ($8.4 billion). The amount is equivalent to 0.5% of the country…

Global stock markets fell sharply Tuesday and Wall Street was set to open lower as gloomy economic data from China and Japan augured further uncertainty for investors after a brutal August.

The planned 1,800-mile China-Pakistan Economic Corridor is expected to connect China’s western-most region of Xinjiang with the Pakistani port of Gwadar on the Indian…

Indonesia is in a stronger position than other emerging economies to weather the current economic storm, said International Monetary Fund’s managing director, Christine Lagarde, on Tuesday. The…

Southeast Asia’s biggest companies have increased debt six-fold since the regional financial crisis, stoking concern over default risks as investors draw parallels with the 1998 meltdown.

German unemployment declined in August and manufacturing gained momentum, signaling that Europe’s largest economy will continue growing, Bloomberg reported. Joblessness fell a seasonally-adjusted…

International Monetary Fund chief Christine Lagarde said the Chinese economy is slowing and the slowdown will touch the rest of the world. Data from the carefully followed Caixin research agency…

Global growth disappoints again. A year ago, the International Monetary Fund expected world output to rise 4% in 2015. Now the Fund is forecasting 3.3% for the year, about the same as in 2013 and…

The Monetary Authority of Singapore rolled out the first issue of Singapore Savings Bond on September 1, promising a 2.63% average annual return if they are held for 10 years.

Economic growth in the UK picked up pace in the three months to August but the British economy faces risks from the knock-on effect of turbulence in China, the Confederation of British Industries…

China will open a high-speed rail line to the North Korean border on Tuesday, state news agency Xinhua said, the latest effort to boost economic ties despite tension between the countries.

Official figures show inflation in the 19-nation eurozone was stable in August at an annual rate of 0.2%, ABC News reported. The European Union’s statistics agency, Eurostat, says Monday that a…

Retailers in Germany have had a surprisingly strong July, indicating that household confidence may be growing, DW reported. It continues the previous month’s upward trend compared to 2014, the…

Thailand’s economic condition remained weak in July, with most key indicators registering declines due to weak external and domestic demand, Dow Jones reported. The Bank of Thailand reported…

A financial journalist has “confessed” to causing “panic and disorder” on China’s stock market and inflicting “huge losses on the country”, state media reported.

Wang Xiaolu, a journalist…

Moody’s Investors Service has revised downward its forecast for GDP growth in the G20 economies to 2.8% next year, from 3.1%.

Moody’s says that the revision mainly reflects the impact of a…

While lauding South Africa for impressive social progress over the past two decades, a new study has asked the country to build on the successes achieved and reduce inequality further.

The value of assets in the Islamic finance sector is expected to increase by 80% over the next five years, reaching $3.24 trillion in value by 2020, according to initial findings garnered from the…

India’s economy grew by a slower than expected 7% in the first quarter of this financial year, official figures showed on Monday, AFP reported. Growth in the three months through June slowed to 7…