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The Latest Breaking News from Economy

Kwasi Kwarteng: Long-term Liz Truss ally to hold nation’s purse strings

The new Chancellor inherits an economy forecasted to plunge into a prolonged recession as inflation soars to eye-watering levels

Evening Standard

Liz Truss promises to fix energy crisis and grow UK economy in first speech as UK PM

LONDON: Liz Truss made her first speech as UK prime minister on Tuesday outside No 10 — in front of a cheering but drenched group of Conservative MPs and the world's media — following a sudden downpour after she had been appointed to the position by the Queen at Balmoral…

The Times of India

Long winter ahead: PM Liz Truss faces energy crisis on day one

It's day one on the job for Britain's new prime minister and as Russia squeezes natural gas exports, Liz Truss faces a wartime economy. How to keep the lights on across the Channel? How to rein in inflation? As Europeans work to pool their energy purchases, tax windfall profits and…

France 24

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GDP lifts 0.9pct in June quarter

Real GDP increased by 0.9 per cent for the June quarter and was 3.6 per cent higher over the year to June.

AAP

Economists predict slowdown for Australian economy as interest rates continue to rise

Soaring commodity exports and positive agricultural forecast expected to be balanced by Reserve Bank’s moves to counter inflation

The Guardian - AU

Liz Truss vows to ‘ride out the storm’ in first speech as PM

Speaking outside No 10, Truss promises to rebuild economy and turn UK into an ‘aspiration nation’

The Guardian - UK

Liz Truss’s first speech as prime minister in full

Liz Truss said her leadership would focus on three priorities - the economy, energy crisis and NHS

The Independent UK

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Liz Truss' first speech as Prime Minister in full - vow to 'rebuild' after 12 Tory years

Tory Liz Truss delivered a brief 516-word speech on the steps of Downing Street, vowing to "ride out the storm" of energy bills with action this week - and "rebuild the economy" after 12 years of Tory rule

Daily Mirror

New Prime Minister Liz Truss promises action on energy bills this week

She also promised action on the economy

Nottingham Post

Liz Truss says Britain can ‘ride out the storm’ in first speech as PM

New prime minister sticks to guns on tax cuts despite fears they will fuel inflation

The Independent UK

Cost of living: why Liz Truss' low-tax strategy won't work

One of the first things the new UK prime minister Liz Truss did upon winning the Conservative party leadership race was to reiterate her desire to turn the UK into a low-tax economy.

The Conversation

Ukraine's Zelenskiy 'rings' NYSE bell, seeks $400 billion in foreign investment

Ukraine's President Volodymyr Zelenskiy remotely rang the opening bell at the New York Stock Exchange on Tuesday as his nation appealed for billions of dollars in private investment to rebuild factories and industries destroyed by Russia.

Reuters

Decades of industry super profits rebut the spurious claims by vested interests

To listen to some commentators, you would think superannuation was about politics rather than retirement. What is clear after 30 years of compulsory super

The New Daily

Saudi Non-oil Economy Reaches Highest Level since October 2021

Saudi Arabia’s non-oil economic growth reached a 10-month high in August, according to the latest Purchasing Managers Index (PMI) data from S&P Global. The Kingdom’s PMI climbed to 57.7 in August, up from 56.3 in July and the highest since October 2021.

Asharq Al-Awsat

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The Hindu

India's climate actions exceed its moral and legal responsibility: Bhupender Yadav

The Minister said India's sheer size and scope for growth is an indication that its energy demand will also grow faster than any other economy.

Evening Standard

Major warning on economy as gilt yield curve turns upside down

UK government debt market sends ominous and closely-watched warning on darkening economic outlook

Daily Mirror

11 crisis issues in Liz Truss's bulging in-tray now she will be Prime Minister

The new Prime Minister inherits an economy that is juddering towards recession, a hike in energy bills and businesses on the brink of bankruptcy, writes Assistant Editor Jason Beattie

The Guardian - US

Democrats look to prove economic credentials in battle for midterms

Party aims to reframe narrative that Republicans are natural custodians of economy and alleviate voters’ inflation concerns

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Asharq Al-Awsat

Saudi Arabia Pumps $80 Bn to Develop Local Content

The estimated value of government competitions that meet the requirements of local content and localization amounted to $80 billion since the launch of legislation until the first half of 2022, announced Minister of Industry and Mineral Resources Bandar Ibrahim AlKhorayef. He said that developing local content requires integrated work and…

The Guardian - UK

Patrick Minford: maverick economist who inspired Truss and Thatcher

Brexiter tells Guardian that new PM understands need for tax cuts and orthodoxy must be challenged to revitalise economy

The Independent UK

Liz Truss: Who is the UK’s new prime minister?

‘Human hand grenade’, seen by many Tories as Johnson continuity figure, confirmed as his successor after leading Rishi Sunak throughout leadership race

AAP

BHP 'contributed $79bn to Aust economy'

BHP says it paid $18.5 billion directly to governments in Australia in 2021/22, with a total economic contribution of $79.3 billion to the country.

Reuters

Protests across Indonesia as anger mounts over fuel price increase

Thousands of people rallied in Indonesia's biggest cities on Tuesday, demanding the government reverse its first subsidised fuel price increase in eight years amid soaring inflation.

Tribune News Service

Russia privately warns of deep and prolonged economic damage

Russia may face a longer and deeper recession as the impact of U.S. and European sanctions spreads, handicapping sectors that the country has relied on for years to power its economy, according to an internal report prepared for the government.

Bangkok Post

Digital business confidence low amid economic woes

Business confidence among digital-related enterprises showed no marked improvement in the second quarter, based on a recent Digital Sentiment Index survey, as Thailand grapples with high inflation, international conflicts and uncertain state policies, says the Digital Economy Promotion Agency (Depa).

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