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The Latest Breaking News from Economy

Russia earns less from oil and spends more on war. So far, sanctions are working like a slow poison

The Russian currency has stabilized after dipping below 100 rubles to the U.S. dollar — but that doesn't mean the pressure is off Russia's economy

The Independent UK

Russia is set to launch Islamic banking: All you need to know

Russia is launching Islamic banking for the first time as part of a two-year pilot programme on September 1.

Al Jazeera

Just 9% of firms believe Scottish Government understands business, poll suggests

The results come as First Minister Humza Yousaf has attempted to be more business friendly.

The Independent UK

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Biden’s commerce chief just denied the U.S. is breaking up with China and then listed all the ways it’s doing exactly that

In Beijing this week, Gina Raimondo kept insisting the U.S. and China aren’t headed for a decoupling, but then she got into the details.

Fortune

Examining BlackRock’s shift away from ESG

The Economy and Society letter is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the environmental, social, and governance (ESG) trends and events that characterize the growing intersection between business and politics.

Ballotpedia

Just as China faces a Japan-style ‘lost decade,’ Japan thinks it’s near a ‘turning point’ in decades-long deflation battle

Japan may be emerging from a 25-year battle with deflation, the government said.

Fortune

Why current-generation AI is 'mostly crap,' but still came along at the ‘perfect time’ to save the flatlining economy, according to a boutique VC firm

SK Ventures’ Paul Kedrosky and Eric Norlin think the “first wave” of A.I. began in 2017 and is ending now. They have a big prediction for what’s next.

Fortune

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TS-RERA registration of real estate project is mandatory: Chairman

TS-RERA Chairman N. Satyanarayana urges builders/real estate firms to get registration from body to protect consumer interests. He participated in awareness campaign organised by AASRA. TS-RERA members K. Srinivasa Rao & K. Lakshminarayana explain RERA Act's salient features. CREDAI president P. Ramakrishna Rao & AASRA founder Hajid Sultan Ali also…

The Hindu

Data | The problems with the Prime Minister’s economic claims

India to become $5trillion economy soon: PM Modi; however, nominal GDP, exchange rate conversions, and skewed income distribution complicate the narrative. In terms of PPP-based GDP, India is already the 3rd largest economy in the world. To attain a dignified living standard for its people, India needs to augment resource…

The Hindu

Crude Gains on a Weak Dollar and China Stimulus

October WTI crude oil (CLV23 ) this morning is up +0.20 (+0.27%), and Oct RBOB gasoline (RBV23 ) is down -1.25 (-0.49%). Crude oil and gasoline prices this morning are mixed. A weaker dollar today is supportive of energy prices. Also, actions by China to restore confidence in its economy...

Barchart

Youth should become job creators for nation’s economic progress, says A.P. Governor

--AP Governor S. Abdul Nazeer stresses youth must become job creators, not job seekers, to grow economy. Centre's Atma Nirbhar Bharat & Startup India programmes aim to make India self-reliant & catalyse startup culture. Palagummi Sainath, journalist, author & Ramon Magsaysay awardee, honored with Doctor of Letters. His reporting led…

The Hindu

Canals are vital to our way of life. We cannot neglect them

Letters: The government must recognise the value of waterways to Britain’s economy, ecology and wellbeing, says Les Etheridge. Plus letters from Nicholas Falk, Marilyn Biles and Mike Annan

The Guardian - UK

'Laughable': Douglas Ross completely ignores Brexit in new economic plans

DOUGLAS Ross’s failure to mention the impact of Brexit at the launch of his party’s new economic strategy has been branded “laughable” ...

The National (Scotland)

Uttar Pradesh: 'Indian economy is growing fastest in the world', says Piyush Goyal in ‘Sansad Rozgar Mela’ in Ghaziabad

Thousands of youths had turned up in the 'Mela' and many of them got registered with various companies participating in the 'Sansad Rozgar Mela'. Read further on Dynamite News:

Dynamite News

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The Times of India

US commerce secretary Gina Raimondo: American firms see China becoming uninvestible

Commerce secretary Gina Raimondo said US companies tell her that China is becoming increasingly “uninvestible” because of growing risks to doing business in the world’s second-biggest economy.

The National (Scotland)

New whisky facility given green light after planning application approved

Those behind the scheme say that the new facility will create 40 jobs and benefit the Scottish economy.

The Guardian - AU

Climate crisis to create ‘acute’ challenges for Australia’s economy, incoming RBA governor says

Michele Bullock uses speech to detail how central bank is preparing for increased risk of extreme weather events

The Guardian - UK

Evergrande shares plunge further amid China economy fears

Property developer’s value fell by more than $2bn as stock resumed trading after 17-month suspension

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Newcastle Herald

New Hunter McDonald's restaurant soon to start slinging burgers

McDonalds is serving up a new restaurant in Huntlee, here's the details.

Fortune

Oil’s historic price surge in 2008 will look like ‘child’s play’ compared with the expected copper boom by 2025, Citi says

“Copper’s eventual bull run is likely to make oil’s famous 2008 rally look like child’s play,” Citi’s managing director for commodities research, told clients.

Fortune

How an only-in-California law could allow one Uber driver to singlehandedly upend the gig economy

The lawsuit against Uber leverages a unique California law that allows workers to sue for employment law violations on behalf of the state.

The Conversation

The US and China may be ending an agreement on science and technology cooperation − a policy expert explains what this means for research

A decades-old science and technology cooperative agreement between the United States and China expires on Aug. 27, 2023. On the surface, an expiring diplomatic agreement may not seem significant. But unless it’s renewed, the quiet end to a cooperative era may have consequences for scientific research and technological innovation.

The National (Scotland)

FM pledges to work with council leaders as he hands over control of key project

THE First Minister has pledged to work with council leaders in Glasgow and surrounding areas as he transferred control of a regeneration project to…

Fortune

A recession might have been simpler than what awaits the U.S. economy

The Fed tamed inflation without also sparking a recession, but dangers still loom.

The Independent UK

Stock market today: Asian shares mostly rise after Fed chief speech

Asian shares are trading mostly higher, as investors felt relief from the head of the Federal Reserve indicating it will “proceed carefully” on interest rates

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