World Economy

The Association of Southeast Asian Nations, which on Saturday marked 48 years since its establishment, aims to establish an economic community known as the AEC by the end of this year. Proponents…

Pakistan and the International Monetary Fund have successfully concluded talks for the eighth economic review under Extended Fund Facility that would pave way for releasing ninth tranche worth of…

Ukraine is heading towards its worst economic crisis in decades and the Minsk and Normandy formats cannot end the war in Donbass, the country’s ex-president Viktor Yushchenko said late Friday.

Egypt staged a show of international support on Thursday as it inaugurated a major extension of the Suez Canal which President Abdel Fattah Al-Sisi hopes will power an economic turnaround in the…

There has been some recent buzz about the economic performance in Spain. Bloomberg reported that Spain posted its best quarterly performance in eight years and June home sales…

The UK’s trade deficit widened in June as the strong pound hit exporters–although the £1.6 billion ($2.5 billion) figure was still considerably lower than the March’s six-month high of £3.2…

Russia has begun destroying embargoed products imported into the country. In the city of Belgorod, a bulldozer was used to crush 10 tons of illegal cheese, RT reported. The cheese came from…

Saudi Arabia plans to raise $27 billion on the bond market by the end of 2015. Needing a $106 per barrel crude price to balance the budget, it’s trying to mitigate the 47% decline in oil.

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The Irish Small and Medium Enterprises Association Thursday called for an awareness campaign showing how rogue traders destroy legitimate business and how non-payment of taxes is affecting the…

European stocks fell and emerging-market currencies extended a seventh weekly decline amid speculation a US jobs report will give the Federal Reserve more reason to raise interest rates. Copper…

The days of very easy money are drawing to a close in the rich Persian Gulf Arab oil-exporting economies as money market rates start to rise, partly because of the damage which cheap oil is doing…

India’s trade deficit with China touched $8 billion during April-May this fiscal. The trade deficit has increased to $48.47 billion in 2014-15 from $36.2 billion in 2013-14,…

Federal Judge Sergio Moro handed out more prison sentences on Wednesday, this time to executives in Brazilian construction firm OAS, which was ensnared in the country’s biggest corruption scandal…

Trade between BRICS countries has increased 70% since the group was established in 2009, according to South African President Jacob Zuma. The economies of the five BRICS nations account for almost…

Asia is home to one third of the tech industry’s 100 richest people, second only to the US which has 51 tech billionaires. The net worth of the world’s 100 richest geeks stands at $842.9 billion…

The Greek government made a €186.3 million ($202.6 million) interest payment to the International Monetary Fund on Thursday.

When even Cargill Inc., the world’s largest grain trader, decides to liquidate its own hedge fund, that’s a sign that commodity speculators are in trouble, Bloomberg reported. Hedge funds focused…

Gold held a weekly decline marking its worst run in 11 years before a US payrolls report that will guide the Federal Reserve in determining when to raise interest rates. Bullion for immediate…

German industrial production unexpectedly decreased in June, highlighting the risks for Europe’s largest economy from weaker growth in emerging-market countries such as China, Yahoo reported.…

Global currencies are experiencing many ups and downs, especially with significant decisions made by many central banks, that have weighed on currency trading. At a time when the dollar continues…

The British government has begun its sell-off of shares in part-nationalized lender Royal Bank of Scotland, raising £2.1 billion ($3.2 billion), a third below the price it paid.

It sold a 5…

Qatar’s foreign minister has lashed out at the ongoing criticism of his country’s plans to hold the World Cup in 2022, saying that plans to reform the Persian Gulf state’s labor laws were “on…

Boeing Co is scrambling to find alternate financing for a satellite contract worth “several hundred million dollars” that was scuttled by privately held commercial satellite provider ABS due…

European Commission head Jean-Claude Juncker believes an agreement on a third bailout for Greece in return for more tough reforms is likely this month, hopefully by August 20 when Athens must make…

Japan is one of the most uncertainty-avoiding countries. Indeed, Japanese firms exhibit the lowest level of risk taking, Geert Hofstede, a social psychologist, said.