Tag Archives: Economy

Ukraine war takes toll on economy of European countries using the euro as inflation reaches record levels and output weakens. Inflation in the eurozone hit a new record this month while growth slowed during the first quarter of the year, according to official data, as the war in Ukraine takes …

The Russian rouble strengthened on Monday, firming past 77 against the euro to a near two-year high, helped by tax payments that companies are due to make this week and as the market looked ahead to a central bank rate decision on Friday. By 1453 GMT, the rouble had gained …

Amid reports that consumer confidence is touching an all-time low in the UK, the French finance minister has predicted “a new era of higher inflation” for France and partner countries. Bruno Le Maire was quoted as saying by BFM TV on Friday that inflation will be high in 2022 in …

Sri Lanka’s securities commission ordered the Colombo Stock Exchange to be halted next week to give investors time to digest the country’s economic conditions. The board of directors of the stock exchange, along with other stakeholders, had sought a temporary closure of the market, the Securities and Exchange Commission of …

Inflation hit a fresh 40-year record in March as U.S. consumer prices rose 8.5% from a year ago, the Labor Department said on Tuesday. The Consumer Price Index, which tracks a basket of goods and services, jumped 1.2% in March after increasing 0.8% in February, showing that inflation gained speed …

French President Emmanuel Macron and Italian Prime Minister Mario Draghi called Thursday on the EU to reform its fiscal rules in order to allow greater investment spending while acknowledging the necessity to reduce debts. “Just as the rules could not be allowed to stand in the way of our response …

Britain on Tuesday launched a £1.0 billion support package for Covid-hit businesses, as staff absences from rising cases began to bite in the run-up to Christmas. Finance minister Rishi Sunak said some 200,000 firms would be eligible for one-off grants to offset losses from what is normally the busiest time …

President Tayyip Erdogan said he had lowered Turkey’s inflation to around 4% before and that he will achieve that again soon as annual price rises exceeded 21% due to his push for aggressive monetary easing that has sent the lira crashing. Erdogan has said the new policy based on low-interest …

Russian President Vladimir Putin held extensive talks with his Chinese counterpart, Xi Jinping, earlier this week, with the two world leaders agreeing on plans to establish a new shared international financial framework. China and Russia have been gradually moving towards such an arrangement since the Global Financial Crisis of 2008 …

Global stock benchmarks and oil prices fell on Friday while safe havens such as the dollar and Treasury bonds rose as investors wrestled with a hawkish turn from major central banks in the fight against inflation and rising numbers of Omicron cases. Asian shares closed near lows for the year …

Global stocks tumbled on Friday and oil fell below $80 a barrel after news of a possibly vaccine-resistant coronavirus variant sent investors scurrying to the safety of bonds, the yen, and the Swiss franc. Little is known of the variant, detected in South Africa, Botswana, and Hong Kong, but scientists …

Turkey’s lira weakened to an all-time low of 10 against the dollar on Friday, breaching the key psychological threshold on investor worries about monetary policy after the central bank began cutting interest rates in September. The lira, which has weakened by more than a quarter so far this year, touched …

The US annual inflation has hit a 30-year high amid the coronavirus pandemic as well as the glitch in the country’s supply chain. According to the latest statistics, the consumer price index (CPI) rose 6.2 percent in the US federal government’s fiscal year, which runs from Oct. 1 to Sept. …

MENA countries are on the cusp of important regional integration initiatives that will provide much-needed efficiency gains, diversification, trust-building, and green growth. The Middle East and North Africa (MENA) is a region of abundant human and natural resources, shared culture and languages, and a well-established heritage of skill in trade. …

The US has already slipped into a recession that could be as bad as the 2007-08 meltdown, according to new research that punctures holes in media reports about the booming stock market and low unemployment. David Blanchflower, a former member of the Bank of England Monetary Policy Committee, and Alex …

Fumio Kishida, the man soon to become Japan’s prime minister, says he believes raising incomes is the only way to get the world’s third-largest economy growing again. Kishida says he wants to promote a “new capitalism” that would be more equitable, with fairer distribution of national wealth — the only …

US President Joe Biden has a simple message for fellow Democrats about his plan to raise taxes to remake large swaths of the American economy: look beyond the bottom line. Biden is trying to persuade Democrats to embrace a more emotional argument, namely that the plan is fair, that it …

An Italian economy undersecretary has resigned after causing an uproar by saying a park in his hometown should be renamed after the brother of fascist dictator Benito Mussolini. Claudio Durigon, a member of the right-wing League, said earlier this month his party was committed to restoring the original name of …

Iraq lost $25 billion via non-cash international transactions outside Iraq in 2020, MP Arshad al-Salehi, said on Wednesday. A statement issued by al-Salehi said, “the data disclosed by the Ministry of Planning are shocking. External transfers sought for imports amounted to $40 billion, while the goods delivered are valued at …

Environmentalists and cultural heritage activists have long sought to limit the number of vessels travelling through the Italian city, calling them an eye-sore and pointing out that they could cause pollution and erosion. The law — which will see only small passenger ferries and freight vessels enter the lagoon city’s …