World Economy

Crisis-stricken Greece has fallen back into recession, as the economy contracted by 0.2 percent in the first three months of the year.

Bank of Japan Governor Haruhiko Kuroda on Wednesday acknowledged that last year’s sales tax hike imposed bigger damage on the economy and prices than initially expected, Reuters reported.

Growth of China’s industrial output picked up in April after hitting a six-year low in March, pointing to tentative signs of improvement for the world’s second largest economy amid downward…

The Italian economy expanded more than expected in the three months through March, paving the way for an exit from its longest recession on record.

Verizon Communications Inc. said on Tuesday it would buy AOL in a $4.4 billion deal that gives the biggest US wireless carrier access to AOL's successful digital advertising service and content…

The EU sanctions against Russia could be lifted by the end of the year, Czech President Milos Zeman said.

Bonds dropped around the world, with Treasury yields near the highest this year and Japanese rates jumping the most in two years. European stock-index futures fell amid wrangling over whether…

Turkey’s current account deficit rose by $1.58 billion to $4.96 billion in March, exceeding the expectations at $4.3-4.4 billion, according to the balance of payments data released by the Central…

The Pakistan government reached an agreement with the International Monetary Fund (IMF) on Monday for the disbursement of a tranche of $506 million next month as part of the $6.8 billion package…

The sale of another tranche of shares in Lloyds Banking Group has taken the UK government’s stake in the lender to below 20%.

The latest disposal of around 1% of the group represents stock…

Economic growth appears to be flagging in the United States and continues to slow in China, while France and Italy are outperforming as the eurozone economy recovers, a monthly OECD measure showed…

Asia accounts for 40% of global output and two-thirds of global growth. Growth in the region including the Pacific area will continue to outperform the rest of the world, and is expected to remain…

China has adopted the International Monetary Fund’s (IMF) standards to calculate its balance of payments data, the Chinese currency regulator said on Tuesday, as authorities work to turn the…

Greece’s finance minister says his country’s financial situation is “terribly urgent” and the crisis could come to a head in a couple of weeks, BBC reported. Yanis Varoufakis gave the warning…

Japan should focus on spending cuts in meeting its pledge to turn its primary budget deficit into a surplus, though setting rigid numerical targets would be inappropriate, according to a…

The Belarussian central bank said on Tuesday it had shifted to a monetary policy regime in which the main instrument for achieving its inflation target would be control over money supply, CNBC…

Philippine merchandise exports increased by 2.1% to $5.376b in March, from $5.268b a year earlier, on the heels of three consecutive months of declines since December 2014, the National Economic…

European banks are as vulnerable to failing today as they were in the run-up to the 2008 global economic crash and subsequent recession, according to new research.

In the first study to…

Greece handed the European Central Bank an excuse to maintain the life support for its financial system by persuading its skeptical German-led creditors it’s serious about delivering the policies…

Safely reaching the UN’s climate target requires governments to have a long-term vision that includes carbon pricing, the World Bank said.

A price on carbon dioxide (CO2), the principal…

UK industrial production rose the most since September as oil and gas extraction surged and manufacturing increased for a second month.

Australian Treasurer Joe Hockey has delivered the country’s budget, promising to help small businesses and ensure parents can join the workforce, BBC said. The budget also included a boost in…

The European Union and Mexico will launch negotiations towards a new free-trade agreement later this year, as Europe seeks to tie its economy closer to North America following a deal with Canada…

Banking giant HSBC has allocated £8b ($12.4b) to lend to small and medium-sized businesses in Britain, the FTSE 100 group said.

The lender said its small and medium-sized enterprises (SMEs…

David Cameron is being urged by business leaders to be bolder and more ambitious in cementing Britain’s economic future, having won a majority in last week’s general election.