World Economy

Turkish President Recep Tayyip Erdogan dreams of transforming Istanbul into a financial hub that can rival Dubai or Singapore, but first he needs to win over would-be investors like Ali Bahcuvan…

It is surely no coincidence that at a time when the international art market is abuzz with the scandal of a near $25 million profit from the sale of a single Modigliani painting, Switzerland last…

The Deposit Insurance Fund of Ukraine (DIFU) will not be able to repay people their losses and will have to rely on the external funding from the EU and, in particular, European taxpayers.

Egypt’s trade deficit narrowed to 19.45 billion Egyptian pounds ($2.45b) in January, from 24.53 billion pounds a year earlier, the state’s Central Agency for Public Mobilization and Statistics (…

A stronger dollar, cheaper energy and the starting of earnings season have all contributed to an across-the-board rally in the US shares.

Wall Street posted gains across all three…

Canada’s economy added 28,700 new jobs in March, far more than economists had been expecting.

Statistics Canada reported that most of the job gains were in part-time work. The jobless rate…

The United States warned Europe  against relying too much on exports for growth and urged officials to make more use of fiscal policy, saying stronger demand in Germany was essential.

Predictions of a sharp slowdown in Latin America’s economic growth this year make it even more necessary for the region’s leaders to make commitments to boost prosperity with equality during the…

The Saudi budget deficit will be more than twice its own forecast, a leading research firm has said, forcing the country into the debt market for the first time in more than a decade.

Drydocks World, an international service provider to the shipping, offshore, oil, gas and energy sectors handled 37 projects simultaneously in the Dubai yard, exceeding the previous record of 35…

The developed world seems to be moving toward a long-term zero-interest-rate environment. Though the United States, the United Kingdom, Switzerland, Japan, and the eurozone have kept central-…

World equity markets tested record highs on hopes of more stimulus from top central banks, while the dollar strengthened on favorable government debt yields compared to those of most other…

The International Monetary Fund (IMF) has slightly raised its economic growth forecast for Thailand to 3.7% this year but continues to warn of risks.

Domestic risks come from possible…

Major Asian economies are searching for new models to sustain growth over the long term, but geopolitical uncertainties and the rise of technology are challenges that need to be tackled, said…

The Russian ban on food imports from Europe dealt a devastating blow to German agriculture, sending prices on some produce tumbling down, the head of the German Farmers’ Union complained Friday,…

Spain, South Korea and Austria have become founding members of the Asian Infrastructure Investment Bank (AIIB), Chinese Finance Ministry said Saturday.

A committee of Ukraine’s private creditors that hold about $10 billion in Ukrainian bonds is against any write-downs in its debt-restructuring deal. The bondholders’ terms jeopardize Ukraine’s…

The pound slipped to an almost five-year low against the dollar as the UK election campaign entered its final month, with investors bracing for a contest that’s set to be the tightest in a…

Lawmakers in Serbia gave the green light to a riverside development project in Belgrade, bankrolled by an Abu Dhabi investor but deeply dividing residents of the capital, Arabian Business reported…

Following weeks of volatility caused by the European Central Bank’s stimulus efforts, the Danish krone is now showing signs of stabilization, NewEurope reported. Denmark’s central bank…

Italy was deeply affected by the Eurozone crisis that started in 2010. The country had run a budget deficit and its national debt was almost equal to 120% of its GDP, Sputnik…

Get ready for a new economic order. In the world 15 years from now, the US will be far less dominant, several emerging markets will catapult into prominence, and some of…

China’s economy faces increased downward pressure, the premier has said, as the country prepares to announce first-quarter economic growth.

The government must “stand up to the downward…

Last week, Ben Bernanke inaugurated a new economics blog and within days provoked a stoush with Larry Summers, the lead proponent of the theory that the United States has entered an extended…

Germany’s 10-year government bonds advanced for a second week as the European Central Bank’s debt-purchase program helped push yields on the euro area’s benchmark securities to record lows.