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The Latest Breaking News from Economy

Fears for UK economy after manufacturing sector shrinks by 4%

Industry body Make UK says ‘no sugar-coating poor outlook’ for next year and ‘possibly beyond’

The Guardian - UK

North East economy stabilises - but at low level, survey suggests

Second report out today highlights concerns from manufacturing companies for the coming year, however

Birmingham Post

Popping off on populist pledges

With Thailand expected to hold a general election next year, political parties have kicked off their campaigns offering promises to appeal to voters.

Bangkok Post

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Crucial year for burgeoning space economy

Thailand's satellite-related economy is expected to reach an important milestone next year with two major developments -- the auction of rights to use satellite orbital slots, scheduled for Jan 8, and a push by the telecom regulator to amend the rules governing landing rights licences for foreign satellite operators, paving…

Bangkok Post

Brazil economy ministry rejects Lula transition team's judgment on finances

Brazil's Economy Ministry on Sunday rejected assertions by president-elect Luis Inacio Lula da Silva's transition team that the outgoing administration was leaving government finances "bankrupted."

Reuters

Hunter can take 'lot more people': population of 950,000 by 2041

A key regional advocacy group says the Lower Hunter has "much more capacity for growth and heavy lifting" to accommodate population rises across Greater Sydney.

Newcastle Herald

Haitham Al Ghais: OPEC+ Plays Instrumental Role in Supporting Market Stability

The OPEC+ alliance plays an instrumental role in supporting market stability, said OPEC Secretary General Haitham Al Ghais on the sixth anniversary of the group’s formation. The Declaration of Cooperation (DoC) is an unprecedented collaborative framework of 23 oil-producing countries that is based on trust, mutual respect and dialogue, Al…

Asharq Al-Awsat

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Infamy, infamy … the Brexit legions have still got it in for Sunak

Power, in this disintegrating Tory party, seems as precarious as being an emperor in febrile ancient Rome

The Guardian - UK

Peru leader names ex-cenbank official as economy chief

Peru’s new President Dina Boluarte named a U.S.-educated economist who has spent most of his career at the central bank as economy minister, as she tries to restore calm after the turmoil of recent days.

Tribune News Service

Peru's president Boluarte names Cabinet following Castillo ouster

Peruvian President Dina Boluarte on Saturday named her Cabinet, tapping former deputy finance minister Alex Contreras as economy minister and chemical engineer Oscar Vera as energy and mines minister, following the ouster of ex-President Pedro Castillo.

Reuters

Syrian Pound Hits New Low on Black Market

Syria's nose-diving pound hit a new record low Saturday against the dollar on the black market, according to websites monitoring the exchange rate, as the country faces severe fuel shortages. The Syrian economy has been battered by more than 11 years of war and crippling Western sanctions, pushing 90 percent…

Asharq Al-Awsat

Concern as US media hit with wave of layoffs amid rise of disinformation

Wider economic uncertainty is behind cuts at companies including CNN, BuzzFeed and Gannett, executives say

The Guardian - US

December Fed Meeting Preview: How many more giant rate hikes are left? ‘This is where it becomes the tough part’

The Federal Reserve’s busiest year for rate hikes since Jimmy Carter was president may be coming to an end — but U.S. central bankers’ rate increases are far from over.

Tribune News Service

Investor optimism returns amid tourism recovery

The Investor Confidence Index (ICI) returned to the bullish zone last month amid optimism over the recovery of tourism and the domestic economy, but uncertainties related to US interest rate policy and global Covid-19 infections are still weighing on the outlook.

Bangkok Post

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Bangkok Post

Asian shares follow Wall Street upward

RECAP: Asian stocks climbed after Wall Street posted its first advance this month, with traders focused on upcoming US inflation figures for clues on the path of interest-rate increases.

Fortune

‘There is nothing special about 2%’: BofA says central bankers just made up their inflation target

“The evidence is that steady 4% inflation imposes very small additional costs compared to steady 2% inflation. Either way the economy adapts,” BofA’s global economist said.

Evening Standard

Watch: Thousands of striking Royal Mail workers stage rally near Parliament

Thousands of Royal Mail workers have staged a rally to mark another strike in the increasingly bitter dispute over “unachievable” conditions they said would “destroy” the company. Members of the Communication Workers Union (CWU) from across the UK congregated outside Parliament in central London to voice their anger about the…

The Independent UK

Jeremy Hunt warned plan to rip up bank rules is ‘huge mistake’

Chancellor accused of ‘race to bottom’ to mitigate Brexit damage to sector

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Evening Standard

Bank of England interest rate hike looms as main event in a blockbuster week for the economy

Will it be 0.75% or 0.50%? Thursday’s top-of-the bill rate move helps set the tone for the economy and consumers into 2023

Evening Standard

Chancellor’s post-Brexit City reforms risk a ‘race to the bottom’

There is a sweeping package of more than 30 reforms

Chronicle Live

'More than just a football club' - The importance of Newcastle United for city on 130th anniversary

As Newcastle United celebrates its 130th anniversary we take a look at how vital the club is to the city and its economy

Tribune News Service

Commentary: Mass long-COVID disability threatens the economy

Forget the work-from-home revolution or quiet quitting: The COVID-19 pandemic’s biggest impact on the U.S. labor market will be as a mass disability event. It’s a shock that the economy is not well prepared to handle.

France 24

China's Xi strikes deals with Saudi royals during 'milestone' visit

Chinese President Xi Jinping signed a raft of deals with Saudi officials during a three-day visit to Riyadh as Beijing seeks to shore up its Covid-hit economy and as the Saudis, long-term US allies, push to diversify their economic and political alliances.

The Independent UK

Asian shares advance on back of Wall Street gains

Shares are higher in Asia after an advance on Wall Street led by the latest rally in technology companies

Asharq Al-Awsat

Saudi Arabia, China Strengthen Strategic Partnership in Digital Economy

Saudi Arabia has signed a strategic partnership with China for cooperation on the digital economy. The agreement was signed by Minister of Communications and Information Technology Eng.

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