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The Latest Breaking News from Economy

Air route between Londonderry and London secured until March 2024

The announcement comes following support from the Department for Transport and the Stormont Department for the Economy.

The Independent UK

Develop digital skills to improve staff, business and the economy

If we are to take full advantage of the digital revolution, we must invest in developing greater digital skills in the workforce

Birmingham Post

Don’t be gloomy about the economy — it could be much worse

City comment: When you consider everything the economy has been through, what we have really isn’t such a bad result

Evening Standard

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From trade unions to future wellbeing, Wales is quietly pioneering a different way of doing politics in the UK

There is much a future Labour government in Westminster could learn from what’s happening in the Senedd – take note Keir Starmer, says Auriol Miller, the director of the Institute of Welsh Affairs

The Guardian - UK

Community bank CEO: ‘Congress must raise the bank deposit insurance limit to $10 million’

Exception-based coverage signals to depositors that they might get some extra protection at a systemically important bank–and compounds risk.

Fortune

Forget Brexit pain and back our Pacific trade deal, urges minister

Critics say the deal involving 11 countries including Australia, Canada and Japan doesn’t compensate for the blow of leaving the EU

Evening Standard

Accountants' body calls for restoration of devolution to tackle business challenges

Chartered Accountants Ulster Society said businesses are ready to help politicians get the economy back on an upward trajectory

Birmingham Post

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World Bank Says Recoveries in Asian Economies Losing Steam

Developing economies in Asia have mostly regained ground lost during the pandemic but are seeing their recoveries stall as productivity lags, the World Bank said in a report released Friday. The report forecasts that growth in the region including China will pick up pace this year after the world's No.…

Asharq Al-Awsat

Rishi Sunak sidesteps question about whether having private swimming pool means he’s out of touch – as it happened

PM also refused to say what he would do if inquiry into Dominic Raab found justice secretary bullied officials

The Guardian - UK

Conor Sen: What makes this economic slowdown different from the others?

We’ve been watching slumps ripple through various parts of the economy over the past 18 months: technology startups and stocks, regional banks and growing concern about commercial real estate. Yet we’re still waiting for the wider labor market to feel the downturn.

Tribune News Service

UK firms report surge in orders amid signs of economic recovery

After UK narrowly misses recession IoD reports rise in business demand, confidence, hiring and investment in March

The Guardian - UK

UK economy avoided recession and grew at end of last year, new figures show

Updated figures mean UK narrowly avoided recession last year

The Independent UK

FTSE 100 Live: Shares close at highest level in three weeks; UK ‘a little further away’ from recession

London’s main stock index started the last trading day of the first quarter of 2023 with gains, after a readout for the economy showed better growth in the final three months of last year.

Evening Standard

UK house price correction ‘has some way to go’ after March falls; eurozone and US inflation falls – as it happened

Average UK house prices fell 3.1% in year to March, while energy costs are now falling in the eurozone and US core PCE inflation has dropped

The Guardian - UK

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Caixin Global

Opinion: Significance of Jack Ma’s Reappearance Should Not be Underestimated

Alibaba co-founder’s well-publicized visit to a local school signals a shift in China’s treatment of big tech

Reuters

Myanmar economy to remain "severely diminished" amid conflict -World Bank

Myanmar's economic growth remains "severely diminished" and GDP is expected to increase just 3% in the fiscal year to September, the World Bank said on Friday, as the country remains embroiled in conflict two years after the military seized power in a coup.

Evening Standard

UK agrees to join trans-Pacific trade partnership

Critics say the impact will be limited, with official estimates suggesting it will add less than 1% to UK GDP

The Conversation

Accidents on Chinese projects are rampant, but why does Indonesia's economy still depend on China?

Chinese investment in Indonesia has been under the spotlight again this year, after a deadly riot at a nickel processing and refining plant of PT Gunbuster Nickel Industry (GNI) in North Morowali, Central Sulawesi. One Chinese and one Indonesian worker died in the incident. The company belongs to China-based Jiangsu…

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Reuters

Montenegro to elect president in tight race after year of deadlock

Montenegro holds a run-off presidential election on Sunday in which long-time incumbent Milo Djukanovic faces a strong challenge from a Western-educated economist who has promised a fresh start after a year of political deadlock.

Bangkok Post

World Bank maintains Thailand's 2023 growth outlook at 3.6%

The Thai economy is expected to grow by 3.6% this year, up from 2.6% last year, supported by stronger private consumption, a recovery in the tourism sector and strong pent-up demand following China's reopening, the World Bank said on Friday.

Bangkok Post

UK claims post-Brexit win with trans-Pacific trade pact membership

LONDON: The UK will join 11 other countries in a major Asia-Pacific trade partnership, Prime Minister Rishi Sunak announced Friday, in the country's biggest post-Brexit trade deal following nearly two years of talks.

Fortune

CEOs are still bullish on decarbonization in wake of Inflation Reduction Act

Within the next two decades, an estimated 90% of U.S. businesses will face a physical risk to their business.

Daily Mirror

'Strip away the packaging and the Prime Minister is selling an empty box'

The scheme as sold by Rishi Sunak was a chance to “power up Britain” by building a green economy, but many of the measures have been previously announced

Fortune

Stocks could surge 14% by the end of the year—oddly, with help from the bank crisis

The economy and inflation could slow without the need for many more interest rate hikes—and it would be good news for stocks.

ABC News

Federal government backs wage increase for lowest-paid workers in line with inflation

The federal government has backed a wage rise for the nation's lowest paid workers in line with inflation, arguing they should not see their real wages go backwards.

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