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The Latest Breaking News from Economy

UK's Liz Truss still favours tax cuts over direct support on energy bills

Liz Truss, the frontrunner in the race to replace Boris Johnson as British Prime Minister, said on Tuesday she still favoured tax cuts to grow the economy instead of providing direct support to households facing unprecedented rises in energy bills.

Reuters

Public Sector Strike Cripples Cash-Strapped Lebanon

Tarek Younes was once solidly middle class and felt he helped contribute to society as an inspector in the Lebanese government’s consumer protection agency. But the country's economic free-fall has eroded his income and civic pride. In his desperation, Younes has joined tens of thousands of public sector employees across…

Asharq Al-Awsat

Philippine economy grows 7.4 percent, slowing from Q1

Southeast Asian country’s economic expansion slows from 8.2 percent growth during the first quarter.

Al Jazeera

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Turkey, Israel Prepare for Economic Conference to Push Ties Forward

Turkey and Israel are preparing to hold an economic conference in autumn to discuss the possibility of promoting economic relations, a political source in Tel Aviv revealed Monday. The source said that in preparation for the conference, Israeli Economy Minister Orna Barbivai appointed Ambassador Matan Safran as a new economic…

Asharq Al-Awsat

Public sector strike cripples cash-strapped Lebanon

Tens of thousands of Lebanese public sector workers are on strike for a sixth week as they struggle to cope with the country's crippling economic crisis, further eroding what's left of the country's state institutions

The Independent UK

China’s gamers hit pause button amid few releases, tough economy

Video game revenues decline for first time on record amid Beijing’s regulatory crackdown and strict pandemic curbs.

Al Jazeera

One Year after Afghan War, Biden Struggles to Find Footing

The 12 months since the chaotic end to the US war in Afghanistan haven't been easy for Joe Biden. The new president was flying high early in the summer of 2021, the American electorate largely approving of Biden's performance and giving him high marks for his handling of the economy…

Asharq Al-Awsat

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Finance minister favours modest rate hike to shield growth

The Bank of Thailand (BoT) should stay away from a steep policy tightening path to protect the economy’s nascent recovery while taming the fastest inflation in more than a decade, according to the finance minister.

Bangkok Post

Economy, political permutations at centre of Kenyan election

The vote is seen as a key test of stability for East African powerhouse and a referendum on the president’s legacy.

Al Jazeera

Pritzker, Lightfoot tout city’s $422 million deal for green energy

“You’re really making clean energy the standard for buildings and for residents throughout our city,” Gov. J.B. Pritzker said at a news conference at the Chicago Urban League.

Chicago Sun-Times

Swansea residents say they couldn't get to home or work because of nightmare traffic jams during Para Triathlon and Ironman events

But the sporting events have delivered a huge boost to the local economy

Wales Online

Macrovariable projections in uncertain times

International factors and faulty data will impact India’s projections of GDP, inflation and balance of payments

The Hindu

Truss and Sunak still haven’t grasped the magnitude of Britain’s cost of living crisis

Neither has an adequate plan – but a joint announcement of a generous package of help would boost confidence

The Guardian - UK

Sebi proposes blue bonds concept for sustainable financing activities

NEW DELHI: Markets regulator Sebi has proposed the concept of blue bonds as a mode of sustainable finance, saying such securities can be utilised for various blue economy-related activities, including oceanic resource mining and sustainable fishing.

The Times of India

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The Times of India

Explainer: What India’s external debt position tells about its economy

NEW DELHI: A depreciating rupee and contracting foreign exchange reserves raised concerns about India's external debt position.

The Independent UK

Liz Truss: Who is the foreign secretary hoping to become prime minister?

Social media savvy ‘human hand grenade’ seen as continuity candidate and currently ahead of Rishi Sunak thanks to questionable tax promises and neo-Thatcherite branding

Benzinga

Apple, Twitter And 2 Other Big Stocks Insiders Are Selling

The Dow Jones closed higher on Friday after the country’s economy added 528,000 jobs in July. Investors, meanwhile, focused on some notable insider trades.

Asharq Al-Awsat

Egypt, World Bank Discuss Activating Food Security Agreement

Cairo is discussing with the World Bank a $500 million development funding deal, which is meant to boost Egypt’s efforts to help achieve food security and to strengthen the Egyptian economy to confront the repercussions of the Russia-Ukraine war. Minister of International Cooperation Rania Al-Mashat and Minister of Supply Ali…

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Insider UK

New chief entrepreneur complains government isn't focusing 'enough on the economy'

In an interview, Mark Logan also revealed plans for a new public/private fund to back Scottish start-ups

Asharq Al-Awsat

Oxford Economics Predicts Saudi Economy to Cross $1 Trln Mark in 2022

Oxford Economics has predicted that the Saudi economy will cross the trillion-dollar mark for the first time this year. The leader in global economic forecasting and econometric analysis pointed out that the growth rate of Saudi Arabia's national product will reach 7.5 % during 2022. The International Monetary Fund has…

The Guardian - UK

Monday briefing: How to understand the huge numbers that rule our economy

In today’s newsletter: From GDP and government spending to inflation, it can be hard to get around the big figures you see in the headlines and what they really mean. So here’s a guide

The Guardian - UK

It’s the culture war games – and the last Tory contenders are on the run from reality

Johnson is on his way out but the ‘war on woke’ is here to stay: it’s all they have to talk about as the economy crumbles, says Guardian columnist Nesrine Malik

ABC News

Economists deeply divided over Reserve Bank's likely interest rate trajectory

The major banks are deeply divided about the outlook for interest rates, and the difference is worth about $284 a month to a typical recent home buyer. So who will be right?

Tribune News Service

Commentary: The fatal flaw in your retirement plan’s target date funds

There was a major development in 2006 that transformed how Americans invest for retirement. It solved one problem, but created another that will be causing extra pain to people who retire in this economy.

Birmingham Post

NatWest survey shows East Midlands economy contracting

However job numbers up and rate of cost inflation said to have eased to ten-month low

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