World Economy

UBS’s chairman said a default by Greece is seen by the International Monetary Fund as “systemically controllable” and he believed it would have a negligible impact on the Swiss bank itself,…

Currency became a hot topic of debate on Capitol Hill in the past two days as US lawmakers considered moving forward President Barack Obama’s ambitious trade agenda by passing the so-called fast-…

 External shocks pose a challenge to Argentina’s economy in this election year, according to private Mar de Plata- and Buenos Aires-based consulting firm Management & Fit.

In…

Egypt’s central bank kept its benchmark interest rates unchanged at a monetary policy committee meeting, Amwal al Ghad reported. The overnight deposit rate remains 8.75% and the overnight lending…

The Omani economy has managed to address the decline in oil prices and is expected to grow five percent this year, according to the Central Bank of Oman (CBO), NewsNow reported. The central bank…

Inflation in the UAE hit a nearly six-year high of 4.3% on an annual basis in March, according to a report, Reuters said. The housing and utility costs, which account for over 39% of consumer…

One of Greece’s largest banks will wipe away the debts and freeze the mortgages of clients who owe up to 20,000 euros ($21,600) in a move designed to ease the burden on its crisis-hit customers.…

Most central banks have been easing policy since the start of the year and are set to do more, but it still isn’t clear whether that new activism, which has pushed stock markets to record highs,…

Islamic finance has potential to increase financial inclusion and spur inclusive growth, according to the International Monetary Fund (IMF).

"Islamic financial institutions sustained little…

The European Union will explore the possibility of resuming talks on a free trade agreement with the Association of Southeast Asian Nations more than six years after negotiations between the two…

Key macroeconomic indicators point to a still healthy but slower expansion in the Philippine economy in the first quarter of 2015, compared with the fourth quarter of last year, thanks to robust…

German Finance Minister Wolfgang Schaeuble hinted on Saturday that Berlin was preparing for a possible Greek default, drawing a parallel with the secrecy of German reunification plans in 1989.

Jaguar Land Rover is considering building a plant in Mexico, following other luxury car makers lured by cheap labor and free trade agreements, Bloomberg reported. Mexico is a “very strong option”…

Global raw steel production for the 65 countries reporting to the World Steel Association was 138m metric tons in March 2015, a 2.7% drop compared to March 2014. With a bit more than 400m metric…

The European Union will provide no extra financial support to Ukraine on top of €1.8b ($1.96b) in loans already pledged for this year, a source in the EU’s foreign policy service said, Tass…

Kuwait is studying proposals to introduce the same tax rates for local and foreign companies, Finance Minister Anas al-Saleh said, AMEinfo reported. “There is a list of taxes on local and foreign…

The UK’s final release of major economic data before the general election will probably show the weakest pace of growth in more than a year, according to economists.

Since the introduction of a trade-promotion-authority bill last week in the US, calls for Congress to reject “fast-track" authority for the Trans-Pacific Partnership (TPP) are getting louder in…

What killed Comcast’s $45 billion bid for Time Warner Cable? Regulators’ desire to protect the Internet video industry that is reshaping TV.

An unforgiving job market and insufficient emotional support can make graduate school a tough slog — so much so that, at the University of California at Berkeley, 47 percent of…

Real estate will attract lucrative foreign direct investments in 2015 with the market recovering and Vietnam set to join the Trans-Pacific Partnership agreement and other free trade pacts.

The dollar extended its losses Friday on a run of weaker-than-expected US economic data, helping prop up the euro despite lack of progress in Greece bailout talks.

Reform of the global trading system will be high on the agenda at an important  meeting of WTO’s leading envoys, to be held in the UAE during Global Trade Development Week, October 28,…

It is possible to increase mutual turnover between China and Russia to $200 billion by 2020, Director of the Department of Eurasian Affairs of China’s Ministry of Commerce Ling Ji said.

Germany is to get its first fully operational Islamic bank on July 1. Opened by the Turkish finance group Kuveyt Turk it will provide Sharia compliant banking services.