World Economy

Japan’s industrial output dropped more than forecast in May as production of transport equipment and cars slowed, sapping a recovery in the world’s third-largest economy, NewsNow reported. Output…

Italy’s finance minister, Pier Carlo Padoan, sees no risks for Italy’s economy following the worsening of the Greek debt crisis and says that the European Central Bank has all the tools to…

The Puerto Rico governor warned that it can’t pay its $72 billion public debt on the eve of a private Monday meeting with legislators, delivering another jolt to the recession-gripped US island as…

Members of the European Parliament are finally realizing the full extent of the undemocratic effects of the proposed Transatlantic Trade and Investment Partnership, according to a prominent critic…

Greece shut its banks and imposed capital controls in a dead-of-night announcement designed to avert the collapse of its financial system as the country edges closer to an exit from the…

General Electric Co. is selling its US, Mexico, Australia and New Zealand fleet businesses to Element Financial Corp. for $6.9 billion.

GE Capital Fleet Services provides commercial car and…

Sri Lanka’s central bank kept its key rates at record lows as expected for the second straight month in June, against a backdrop of low inflation and decent growth, the monetary policy statement…

Greek bank executives and European officials warned of an imminent cash crunch or bank shutdown after the collapse of bailout talks stoked concern Greece may be forced to exit the euro.

Nearly 14,000 employees of Saudi ministries and government organizations submitted their resignations within the last seven months, with the education sector the worst hit, Arabian Business…

Goldman Sachs would shift resources toward locations in continental Europe and away from Britain should the country’s voters choose to end the country’s membership of the EU, a senior executive…

Martina Roemmelt-Fella, who owns a small, family-run turbine manufacturer in Bavaria, should be a cheerleader for a trade deal between Europe and the United States that promises to ease the flow…

Raising the red flag over interest rates remaining “extraordinarily low” globally, banking regulators’ body Bank for International Settlements Sunday said easy monetary regimes…

The search for alternative investors and markets has been a political priority for President Vladimir Putin since western countries imposed economic sanctions on Russia last year. The resulting…

A consortium of investors from the Middle East region is set to acquire a majority stake in La Maison Cannelle, a leading specialized food producer in the health and wellness food segment based in…

The International Monetary Fund has countered the Reserve Bank of India’s Raghuram Rajan’s views that the world economy may be slipping into 1930s Great Depression-like problems, and said that…

The Greek parliament early on Sunday voted by a large majority to hold a referendum on continuing the country’s bailout according to the terms set by the Eurogroup, the EU, the European…

California-based Airbnb, the online accommodations hub, has arranged to raise $1.5 billion, sending its value up to $25.5 billion, a source close to the deal told AFP.

A group of American…

Brazil’s unemployment rate climbed for a fifth straight month and wages fell in May, government data showed, adding to signs of a painful recession.

Brazil’s non-seasonally adjusted jobless…

At a time of slowing economic growth and massive corporate debts, a deflationary spiral would be China’s worst nightmare. And the risk is mounting. The producer price index (PPI) has been in…

The leaders of Europe and the International Monetary Fund are jeopardizing the European project by forcing Greece into a corner, the leader of Spain’s Podemos, an anti-austerity party…

Perth is awash with vacant offices, while its stagnant housing market “feels just like a recession”, property experts have warned, NewsNow reported. Property Council of Australia executive…

One of China’s biggest ever foreign policy successes will take concrete shape on Monday when delegates from 57 countries sign an agreement on the Asian Infrastructure Investment Bank in Beijing.…

A major German tour operator said on Saturday more than 300 customers who had planned to travel to Tunisia this summer have called asking to change their bookings, a day after at least 37 people,…

Austrians have launched a petition to quit the EU, arguing that the nation will be better off economically if it leaves the union. To force the national parliament to consider the initiative…

European stocks pushed into the green on Friday after creditors offered Greece an extension to its bailout with an additional €12 billion ($13.4 billion) to keep it from defaulting.