World Economy

US consumer spending edged higher in June, capping a rebound in the second quarter from weak growth in the first months of the year, the US Commerce Department reported Monday.

Consumer…

After more than six years of record-low interest rates, the looming increase hinted at by Bank of England policy makers may come as a shock to consumers driving Britain’s recovery.

The Bank of Russia made a decision to block the banking license of Moscow-based Bank of Settlements and Savings, the regulator said on Monday.

The decision to withdraw the license was taken…

In Friday’s meeting that was held in Athens Hilton between Greek Finance and Economy Ministers Euclid Tsakalotos and Giorgos Stathakis and the representatives of the…

The United Nations member states have endorsed an agenda on sustainable development up to the year 2030. The ambitious, wide-ranging plan is to be ratified next month at a meeting of heads of…

Saudi Arabia’s central bank has tightened restrictions on cash withdrawals from banks using credit cards in an effort to head off any consumer debt problems, Reuters reported. Previously, under an…

In 2014, China’s demand for agri-food imports continued to increase, although at a lower rate (+3%) compared to growth rates registered in the past, according to figures from the EU.

The volume of Nigeria’s bilateral trade with the United States has continued to be on a downward trend due to the advent of shale oil resources, which resulted in total stoppage of US imports of…

Asian shares started August lower as disappointing economic data from China weighed on investors’ confidence.

HSBC Holdings Plc, Europe’s largest bank, reported an 18% climb in second-quarter profit amid higher trading income and gains from a sale of shares in China’s Industrial Bank Co. The stock rose,…

Switzerland’s manufacturing output fell in July, suggesting companies are still battling to cope with the strong franc and that weaker demand for Swiss industrial goods is likely to persist for…

The mining sector in Zimbabwe is reeling from poor economic activity over the past year, with the industry’s suppliers singing the blues as a result of challenges facing other players in the…

China’s e-commerce raked up a whopping $2.68 trillion in 2014, registering a 59.4% jump from the year before despite a slowdown in the world’s second-largest economy.

China’s e-commerce…

The Bank of Japan is expected to maintain its massive monetary stimulus and optimism on chances that it will hit its inflation target at a policy review later this week, even though…

Gold steadied not far above a 5-1/2-year low on Monday, struggling to scale higher at the start of the month after its deepest loss in two years in July, as expectations for a near-term hike in US…

Economists reduced once again their outlook for Brazil’s economic performance for this year, as the country’s economy fails to regain traction amid poor consumer and business confidence.

New data suggested Monday that South Korea’s economy was more resilient than first feared in the face of this summer’s deadly MERS outbreak, NewsNow reported. While certain industries undoubtedly…

Greece may seek €24 billion ($26.4 billion) in a first tranche of bailout aid from international lenders in August to prop up its banks and repay debts falling due at the ECB, reports said.…

Economists forecast that the growth figure for the Turkish economy might be negative this year amid rapidly widening political chaos throughout the country and signs that the economy has begun to…

Only 13% of investment firms expect to raise their equity allocations to the Middle East in the next three months, a survey shows.

Middle East fund managers have on balance turned negative…

Some international meetings end up being all talk but no action. The Group of 20, representing the bulk of the world economy, can avoid this by setting up a “global economic coordination system”…

The euro exchange rate complex enjoyed a flourish mid-July as Greek risks faded and traders were able to take stock of the improving data points coming out of the eurozone, MarketWatch reported.…

Tanzania is expected to record an impressive economic growth of 7.4% by the end of this year, according to a report compiled by the African Capacity Building Foundation dubbed ‘African Capacity…

China’s foreign exchange reserve has been falling for four consecutive quarters, the longest period since 1998, but economists and analysts do not know why.

For the second quarter, the…

Corruption is crippling the Kenyan economy as indicated by the auditor general’s report released recently, Wiper Democratic Movement leader Kalonzo Musyoka has said.

Kalonzo said the rate…