US growth surged to its highest level in 11 years in the third quarter, according to an updated government estimate released Tuesday, AFP reported. Gross domestic product (GDP) increased five…
World Economy
Singapore was hit by deflation – or negative inflation – for the first time in five years last month on the back of plummeting global crude oil prices, AsiaNews reported.
Alibaba Group Holding Ltd., which faced scrutiny for selling counterfeit goods on its websites, said it removed 90 million listings that may have breached intellectual-property rights.
The…
China is stepping up its role as the lender of last resort to some of the world’s most financially strapped countries, challenging the International Monetary Fund as the international lender.
Italy’s parliament has definitively approved Prime Minister Matteo Renzi’s tax-cutting 2015 budget which aims to pull the economy out of recession while keeping the fiscal deficit inside…
The Russian economy will slide next year into its first recession since the global financial crisis and inflation will be close to double digits, economists forecast in a Reuters poll,…
South Korea on Monday trimmed its economic growth forecast for 2015 to 3.8 percent from 4.0 percent as it vowed to continue expansionary policies aimed at spurring domestic consumption.
Recent data showed that the value of initial public offerings this year reached $237b, with the US market among the most successful for new issues. Data published by Thomson Reuters showed that US…
Sudan will keep in place subsidies on wheat and petrol and not raise taxes in 2015, the finance minister said on Monday as he presented next year’s budget to parliament, AFP reported. “No new…
US airplane maker Boeing said Monday that Air China has ordered 60 of its 737 jets, including some from the fuel-efficient 737 MAX series, valued at more than $6 billion, AFP reported. “We are…
A Chinese company breaks ground Monday on a $50 billion canal across Nicaragua, an ambitious rival to the Panama Canal that critics condemn as a pipe dream and protesters say will wreck the…
Indian Prime Minister Narendra Modi today risks failing to win approval from lawmakers for one of his biggest policy changes yet, a setback that dims prospects for other key bills until…
The recent drop in oil prices should persist, helping to boost global economic activity by up to 0.7 percentage points next year, two senior IMF economists wrote in a blog on Monday.
The French firm Alstom SA has pleaded guilty and will pay $772 million in criminal penalties to settle charges with the US Justice Department alleging the company bribed government officials to…
British economic growth slowed to 0.7% in the third quarter of 2014 from the previous three months, official data showed Tuesday, in line with the prior estimate, AFP said. However, the economy…
Cashed-up Australian telecom giant Telstra said Tuesday it has agreed to buy Pacnet, Asia’s biggest private owner of submarine communication cables, for US$697 million in one of its largest…
It’s almost starting to sound like a broken record at this point: the economy is sluggish, wages aren’t increasing, and the middle class is struggling. This isn’t news to anyone. The matters at…
In 2024, Bitcoin was declared one of the worst performing assets of any kind. It has fallen almost 66% in value from its high point in early 2014. That is worse than…
India’s finance minister urged opposition parties to cooperate in passage of economic reform legislation, warning otherwise Asia’s third-largest economy “will miss the bus” again.
The…
The Russian government has adopted a plan of anti-crisis measures and is ready for any turn of events, presidential aide Andrey Belousov said.
“Of course, the government will take…
Can ten countries with different cultures, traditions, languages, political systems, and levels of economic development act in concert to expand their collective potential? That is the question…
China’s trade minister proposed more use of China’s currency in settling trade with Russia in the face of a falling ruble to ensure safe and reliable trade, Hong Kong broadcaster Phoenix TV…
Egypt’s trade deficit grew 70.9% in September compared to the same period a year earlier, according to the latest available trade report by the state-run statistics agency CAPMAS released on…
Belarus blocked online stores and news websites Sunday, in an apparent attempt to stop a run on banks and shops as people rushed to secure their savings. In a statement Sunday, BelaPAN news…
Colombia’s central bank kept its benchmark interest rate unchanged for a fourth straight month as a construction boom sustains demand amid a slump in the price of crude oil. The bank…
