World Economy

The words Greece and ‘bankruptcy’ seem to go hand in hand these days. ‘Grexit’ as far as the eye can see. But is Athens really about to go belly up, and is an exit from the eurozone really the…

South Korea lags far behind the United States and other major economies in the size and productivity of the service industry and should take steps to nurture it, a report said Monday.

Chinese Premier Li Keqiang will visit South America next week on a four-nation tour, the Foreign Ministry said on Monday, a part of the world where China has deep business ties but traditionally…

China has extended $3 billion credit to Belarussian companies and $4 billion in commercial credit to Belarussian banks for financing business projects, Economy Minister Vladimir Zinovsky said on…

The economic slowdown seen in the first quarter of this year is gradually being reversed, according to a survey of Scottish purchasing managers, BBC reported. The Bank of Scotland found both…

The 2015 Bayt.com MENA Salary Survey, conducted by Bayt.com, the Middle East’s number one job site, and leading market research agency, YouGov, has found that more than half of UAE professionals…

Indonesia will gradually cut its corporate tax rate to discourage companies from booking profits in lower-tax countries such as Singapore, President Joko Widodo’s top aide said.

Stocks in China charged 3% higher Monday, recovering from their worst week in five years to lead gains across Asia after the country’s central bank cut interest rates to help the…

Officials of the six-nation (Persian) Gulf Cooperation Council agreed at the weekend to keep working toward the introduction of a value-added tax (VAT) around the region, in a sign that low oil…

German Chancellor Angela Merkel is coming under growing pressure from within the ranks of her own party bloc to give up on Greece for the sake of the euro.

Expectations of rising dividends and share buybacks from Europe’s insurance companies are fading as ultra low interest rates make it harder for them to meet new capital regulations.

Rock-…

Australian Treasurer Joe Hockey has said the government will introduce a new tax crackdown against 30 multinational corporations.

Without identifying the targets, Hockey said the big…

In the period of January-February 2015 Bulgarian exports to the EU increased by 12.2% compared to the corresponding period of 2014 and amounted to BGN 4.5b ($2.56b), Focus reported.

Saudi authorities have conducted an intensive campaign to expel hundreds of thousands of undocumented migrant workers since 2013, international rights watchdog Human Rights Watch (HRW) said Sunday…

Janet Yellen could be losing patience. And that could mean a lot for global markets. When the chair of the Federal Reserve said Wednesday that stocks were overvalued and bond yields too low, it…

The Saudi stock market was in the red last week, reversing after a 4-week surge and dropping 1.19 percent. The benchmark Tadawul index reflecting a 3-day fall during the week, closed at 9,717.9…

British finance minister George Osborne may sell state-owned shares in Royal Bank of Scotland (RBS) at a loss as part of plans for an accelerated sale of government holdings in the sector.

South Africa’s annual season of labor strikes often turns violent, but a recent wave of deadly xenophobic attacks has heightened fears that this year’s protests could fuel further aggression…

Amid the country’s growing security expenses, Pakistan has asked the International Monetary Fund (IMF) to relax its key condition of restricting the next fiscal year’s budget deficit to Rs 1.25…

Greece and its international creditors are "very close" to a loan deal, a Greek junior minister said Sunday, a day ahead of a key meeting in Brussels.

"After weeks of painful negotiation,…

New research on child poverty in Germany claims public services do not reach far enough. It says the government’s response to the issue has not focused on the needs of the youngest part of the…

China’s central bank cut its benchmark interest rate on Sunday for the third time since November, as economic growth cools to levels not seen since the global financial crisis, Reuters reported.…

Hungary’s economy is expected to grow 2.2% next year, slowing from 2.8% this year, the European Commission says in its Spring 2015 Economic Forecast, NewsNow reported.

The US economy pumped out a solid 223,000 new jobs in April and unemployment ticked down to a seven-year low of 5.4%, the Labor Department said, AP reported. But the US labor market nevertheless…

When the Swiss central bank abandoned its cap on the franc back in January, corporate Switzerland warned of an economic “tsunami” that would hit exports, hammer jobs and plunge the Alpine nation…