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The Latest Breaking News from Economy

Top economist Mohamed El-Erian says inflation could get 'stuck' at an uncomfortably high number because of supply chain issues and a 'change in globalization'

Mohamed El-Erian says that inflation may get stuck at 4% as the global economy goes through a “profound” shift—and warns investors not to fall in love with the “short and shallow” recession theory.

Fortune

Economy climbed up one position under an economist PM in 10 years but became 5th largest under a 'chaiwala': PM Modi

AHMEDABAD: Prime Minister Narendra Modi on Monday took a veiled jibe at his predecessor Manmohan Singh, saying the country's economy climbed up by only one position to reach the tenth spot despite a renowned economist being the PM in the Congress-led government for ten years till 2014.

The Times of India

What are doubloons? TikTok’s imaginary economy and rules explained

The TikTok currency has no real connection to the Spanish-American coins from centuries ago.

Evening Standard

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Covid’s still a big issue for China – and that’s trouble for global economy

The economic outlook for China is not good however its leaders respond to anti-lockdown protests

The Guardian - UK

Minister blasts Fifa and claims Wales has ‘every chance’ of beating England

Welsh economy chief Vaughan Gething called the football organisation’s decisions over rainbow bucket hats and One Love armbands “disappointing”.

The Independent UK

The Dabloon economy is the latest craze engulfing TikTok: from inflation and debt, to thieves and factions

Millions are part of the Dabloon economy, but the fake currency is suffering from inflation.

Fortune

Editorial: China Law Against Unfair Competition Should Have Lofty Goals

Ideally, this latest draft revision should go beyond regulating businesses and also set rules for how the law is enforced

Caixin Global

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China's Covid protests lead to uncertainty on stock markets

Nationwide protests against China's zero-Covid policy have left investors concerned about the outlook for the country's economy. On Monday morning, both the Shanghai Composite and Hang Seng in Hong Kong were posting losses. The price of oil was also affected, on the assumption that Chinese demand for crude will be…

France 24

Longer life for N-plants eyed

A draft explaining the direction of the economy ministry's nuclear policy and its action plan was presented to a panel of experts on Monday. The draft would effectively allow nuclear power plants to operate beyond the current upper limit of 60 years.

The Japan News/Yomiuri

Tour of Britain boosts Nottinghamshire's economy by over £4million

Nearly a quarter-of-a-million spectators attended the event

Nottingham Post

Japan Births at New Low as Population Shrinks and Ages

The number of babies born in Japan this year is below last year’s record low in what the top government spokesman described as a “critical situation.” Chief Cabinet Secretary Hirokazu Matsuno promised comprehensive measures to encourage more marriages and births. The total of 599,636 Japanese born in January-September was 4.9%…

Asharq Al-Awsat

LFC Foundation delivers £8m boost to help 83,000 people in one year

Details from the LFC Foundation's second-ever social impact report as the charity is credited with directly delivering £8m into the local economy

Liverpool Echo

What people are saying about the COVID-19 protests in China

Residents in some major Chinese cities took to the streets at the weekend to protest strict zero COVID-19 restrictions, some calling for President Xi Jinping to step down in scenes unprecedented since Xi assumed power a decade ago.

Reuters

Editorial: The war on Russia’s economy is working

Nine months into Russian President Vladimir Putin’s war in Ukraine, the damage done to the world’s 11th-largest economy is extensive. Leading Russian banks have been cut out of the global financial system, some $300 billion of central bank reserves are frozen, and hundreds of foreign companies have departed. Parts shortages…

Tribune News Service

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Al Jazeera

‘Very proud’: Indonesia makes mark in Qatar with official ball

Al Rihla, the official match ball for Qatar 2022, is being manufactured in Indonesia’s East Java province.

Bangkok Post

TCC urges provincial push

The Thai Chamber of Commerce (TCC) and Board of Trade of Thailand on Sunday urged the government to speed up investment in provincial development projects to revitalise the economy.

Daily Mirror

Post-Brexit trade deal with Japan branded failure as exports plummet

The agreement, signed by Liz Truss in October 2020, was hailed as "historic" and Ms Truss claimed it would add billions to the UK economy - but now Labour has hit out at ministers

Newsroom.co.nz

The planetary emergency we must avoid (spoiler alert: it’s not climate change)

Rather than expanding our renewable electricity production and developing an EV fleet, a degrowth approach would be to initiate a massive energy conservation programme and investing in cities where we can live, work and play within 15 minutes' walking or biking.

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Reuters

Canada to boost defence, cyber security in Indo-Pacific policy, focus on 'disruptive' China

Canada launched its long-awaited Indo-Pacific strategy on Sunday, outlining spending of C$2.3 billion ($1.7 billion) to boost military and cyber security in the region and vowed to deal with a "disruptive" China while working with it on climate change and trade.

The Guardian - US

Life’s tough for small business owners, but forced tipping is a bad idea

There are many ways to tackle rising costs and a slowing economy – but automatic gratuity is not one of them

The Guardian - UK

Rail chaos puts UK on track for some serious economic damage

Good connectivity is the lifeblood of a modern, thriving economy – so how much is the ongoing disruption costing UK plc?

The Guardian - UK

Britons have wised up to the benefits of immigration. It’s about time politicians did too

Migrants are increasingly seen as playing a key role in our economy, yet MPs of all stripes don’t seem to have caught up with the voters

The Guardian - UK

Senior Tories demand Sunak ditches ‘mindless’ crackdown on overseas students

David Willetts, Jo Johnson and Chris Skidmore say embattled PM’s move will hit economy and levelling up

The Guardian - UK

Brexit has made Britain the sick man of Europe again

The EU did wonders for the economy: that was why we joined. Our departure from it is now all too obviously costing us that prosperity

Bangkok Post

Apec, China reopening could boost growth to 4%

Thailand's economy is expected to grow by 3-4% next year, growth supported by the tourism industry and as an outcome of the Asia-Pacific Economic Cooperation (Apec) summit, a seminar was told.

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