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The Latest Breaking News from Economic Growth

High fashion: Luxury goods makers hope for boom as China re-opens

Is the luxury sector recession-proof? Sales at high-end brands plunged at the start of the Covid-19 pandemic, but they've since rebounded sharply, even as inflation soars and economic growth slows. Now many fashion houses are hoping that China's reopening will be another boost to their business. Our Business Editor Kate…

France 24

Oil Prices Advance on US Growth, Chinese Recovery Hope

Oil prices edged ahead for a second session on Friday, buoyed by stronger-than-expected US economic growth and hopes of a rapid recovery in Chinese demand as COVID-19 cases and deaths plunged from last month's peak levels. Brent futures gained 18 cents, or 0.2%, to $87.65 a barrel by 0724 GMT,…

Asharq Al-Awsat

Chancellor claims he will use Brexit freedoms to tackle poor productivity

Jeremy Hunt is expected to resist calls for tax cuts to kick-start flagging economic growth

Insider UK

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Finance Ministry maintains growth outlook, expects more tourists

The Ministry of Finance has maintained its economic growth outlook for 2023 at 3.8%, buoyed by a rebound in tourism and domestic demand, but an official said exports would slow down this year.

Bangkok Post

EXPLAINER: How will we know if the U.S. is in recession?

A second consecutive quarter of economic growth underscored Thursday that the nation isn’t in a recession despite high inflation and the Federal Reserve’s fastest pace of interest rate hikes in four decades

The Independent UK

Weaker economic growth costing Scottish Government almost £700m

Scottish Fiscal Commission says differences in tax policy between Scotland and the rest of the UK are also to blame

Insider UK

UN forecasts fall in global economic growth to 1.9% in 2023

The United Nations is forecasting that global economic growth will fall significantly to 1.9% this year

The Independent UK

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Putting a dampener on Thai recovery

After three years in which the economy suffered from Covid effects, I am sorry to say that 2023 will not be the year of economic recovery as everyone had hoped. The global economy will still be plagued by inflation threats and several adverse factors such as excessive debt and the…

Bangkok Post

BoT delivers another quarter-point rate hike

The Bank of Thailand raised its key interest rate by 25 basis points for a fourth consecutive meeting on Wednesday, as it attempts to curb high inflation even as the return of Chinese tourists brightens the country’s economic growth prospects.

Bangkok Post

Young port workers in the maritime city of Makassar lack digital skills. Vocational schools can be the solution

The city of Makassar in South Sulawesi, Indonesia has seen fast economic growth in the past few years. In 2019, the province’s growth reached 6.9% – higher than the 5% national rate – with rapid infrastructure development, particularly in the maritime industry.

The Conversation

China’s shrinking population: what it means for the rest of the world - expert panel

From climate change to women’s rights, what effect will the demographic time bomb at the heart of China’s economy have?

The Guardian - AU

China and the sovereign-debt time bomb

International capital flows have long been a major source of economic growth. Savings in higher-income countries have financed high-yielding investments in low-income countries, generating benefits for all. After World War II, capital flows under the Marshall Plan drove the rapid reconstruction of Europe, and after those countries recovered, they extended…

Bangkok Post

Tebboune Vows Better Living Conditions for Algerians

Algerian President Abdelmadjid Tebboune pledged on Thursday to enhance the country’s returns and improve the living conditions of Algerians, indicating a 47 percent increase in salaries early next year, the German News Agency said. He said that 2023 will see "better achievements and the improvement of living conditions.” His remarks…

Asharq Al-Awsat

Executives gloomy about global outlook

Chief executives of companies around the world are planning to cut operating costs as nearly three-quarters of them anticipate a decline in global economic growth over the next 12 months, according to a recent survey by PwC.

Bangkok Post

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Bangkok Post

Keys to sustainable growth

In November, hundreds of corporate CEOs and heads of state convened in Bali, Indonesia, for the B20 global business summit. The topics on the agenda this year revolved around three interconnected goals: sustainability, inclusion and economic growth.

Reuters

Davos 2023: China recovery could be very quick - IMF's Gopinath

China could see a sharp recovery in economic growth from the second quarter onwards based on current infection trends after the dismantling of most COVID-19 restrictions, IMF Deputy Managing Director Gita Gopinath said on Wednesday.

Asharq Al-Awsat

Oil Prices Extend Gains on Optimism Over China’s Recovery

Oil prices rose on Wednesday, extending the previous session's gains, driven by optimism that the lifting of China's strict COVID-19 curbs will lead to a recovery in fuel demand in the world's top oil importer. Brent crude futures firmed 63 cents, or 0.73%, to $86.55 a barrel by 0401 GMT,…

Bangkok Post

Economists slice growth outlook for Asean+3

China's reopening should provide a timely boost to the Asean+3 region as the area's economic growth was downgraded because of continuing weakness in China, Japan and South Korea, according to economists.

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Reuters

Davos 2023: Global growth to bottom out this year - IMF's Georgieva

International Monetary Fund Managing Director Kristalina Georgieva said on Tuesday global economic growth was expected bottom out in 2023 despite the continued Ukraine war and rising interest rates.

WEKU

China's economic growth falls to 3% in 2022 but slowly reviving

The world's No.2 economy grew by 3% in 2022, less than half of the previous year's rate, official data showed Tuesday as China faced pressure from anti-virus controls and a real estate slump.

Asharq Al-Awsat

China's Population Shrinks for 1st Time in Over 60 Years

China's population shrank last year for the first time in more than six decades, official data showed Tuesday, as the world's most populous country faces a looming demographic crisis. The nation of 1.4 billion has seen birth rates plunge to record lows as its workforce ages, in a rapid decline…

The Independent UK

China’s economy grew 3% last year, not even half 2021's rate

China’s economic growth fell to 3% last year under pressure from antivirus controls and a real estate slump but is gradually reviving after restrictions that kept millions of people at home were lifted

Asharq Al-Awsat

Study Envisages Connection between Innovation, Financing, Trade with Global Economy

Saudi researcher Dr. Raja Almarzoqi underscored the connection between innovation, international commerce movement, financing and economic growth that has become an enabler of global economy that crosses borders. He called for the adoption of government policies and legislations that would benefit further from the relationship between research, development of innovation…

Bangkok Post

Infrastructure outlays to underpin growth

The government aims to accelerate state investment this year to provide a tailwind to propel economic growth momentum.

The Times of India

Indian industry leaders expect GDP to grow at 6.5% in FY24: Survey

NEW DELHI: According to a survey conducted by Deloitte Touche Tohmatsu India LLP (DTTILLP), Indian business leaders, specifically chief experience officers (CXOs), are optimistic about the country's economic growth in 2023-24.

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