World Economy

Hong Kong should move on and focus on economic and social issues now that the curtain has fallen on the ill-fated electoral reform effort, leading economists said.

Hang Seng Bank senior…

Ethiopia, whose economy is one of the fastest growing in the world, needs to encourage private sector investment to sustain its rapid expansion, the International Monetary Fund said.

Indonesian companies are shedding jobs as they grapple with the weakest economic growth in six years, adding to the troubles facing President Joko Widodo, who was elected last year on pledges to…

British Finance Minister George Osborne has said he will press ahead with hefty cuts to welfare in a budget statement next month, a day after tens of thousands of people marched against austerity…

The Asian Development Bank estimates the overall GDP growth of Asian countries for 2015 will be around 6%, making it once again the fastest-growing continent in the world, said its chief economist…

China will increase support for cross-border e-commerce as the world’s second-largest economy shifts from manufacturing to higher-value services, the government said.

China’s e-commerce…

US company PBF is buying the Chalmette oil refinery, a “joint venture” between Exxon Mobil and Petroleos de Venezuela SA, Venezuela’s state-owned oil company, NewsNow reported. The sale appears to…

The Executive Board of the International Monetary Fund completed the combined fifth, sixth and seventh reviews of Cyprus’s economic adjustment program supported by the Extended Fund Facility,…

Fitch Ratings on Friday affirmed Bulgaria’s long-term foreign and local currency Issuer Default Ratings at BBB- and BBB, respectively, Novinite.com reported.

Bahrain is keen to bolster investment cooperation with Russia and avail of its cutting-edge technologies, mainly in the financial and economic services sector, Deputy Premier Sheikh Mohammed bin…

The African Union has been urged to work towards the harmonization of economic policies, the removal of tariff and non-tariff barriers to trade and the institution of mechanisms to support weaker…

Investors in US exchange-traded funds have sold the most bonds in June in nine months. So far, it’s proving to be a winning bet.

They pulled $1.44 billion out of fixed-income funds since…

Russian President Vladimir Putin said after Friday’s talks with Greek Prime Minister Alexis Tsipras that a prospective Russian natural gas pipeline should help Greece service its debt, but the…

The record of the International Monetary Fund “as an institution is mixed,” IMF Executive Director Paulo Nogueira Batista told RT, adding that he believes the IMF’s programs for Greece and Ukraine…

Thousands of protesters marched through central London on Saturday to demonstrate against the newly re-elected Conservative government’s plans for public spending cuts.

More than 250…

Unemployment rates rose in 25 US states last month, driven higher in many cases by more people who began looking for work but didn’t immediately find jobs.

Rates fell in nine states and…

There are two camps of investors which have diametrically opposed views on why one should own gold. One camp believes that gold is an excellent hedge against inflation, while the other camp…

Beijing-based news site has an interesting take on how Chinese companies and banks are queuing up to invest in the vast areas of Asia, Europe and Africa earmarked for development under China’s “…

Europe's biggest economy is growing increasingly impatient with Athens. Some industry leaders are now calling on creditors to cut their losses, and let Greece drop out of the eurozone.

New home prices in Turkey increased 0.76% in May from the previous month, according to a report prepared by Garanti Bank in collaboration with Reidin-GYODER - an association of real estate…

 The Bank of Japan maintained its record monetary stimulus as Governor Haruhiko Kuroda seeks to spur inflation and announced plans to improve transparency. The central bank will continue to…

India and Eurasian Economic Union began to study the feasibility of a free trade zone agreement, Tass reported. The document was signed between the Ministry of State for Commerce and Industry of…

The gap between Scotland’s most wealthy and most poor is widening, according to two of the country’s leading economists, Scottish News reported. Stirling University’s David Bell and…

The landmark signing of a free trade agreement between China and Australia will further ensure the supply of commodities to the world’s second-largest economy, helping Chinese users cut costs for…

Norway’s $890 billion fund, which considers high-frequency trading a scourge in global financial markets, is taking steps to avoid the practice as it spreads in Asia, Bloomberg reported.