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The Latest Breaking News from Economy

Italy's right-wing frontrunners see room to revamp national Recovery Plan

The Brothers of Italy party, in pole position for next month's elections, sees room to revamp parts of an European Union-funded investment programme to help the economy tackle an energy crisis and soaring costs, a party official said on Monday.

Reuters

Sanctions against Russia are not backfiring

Letters: Immoral behaviour must be challenged, says David Sutherland, while Scott Blau highlights the economic effects, and Bohdan Kisil says the moral effect on Ukrainians is incalculable

The Guardian - UK

GST levies on food items won’t burden poor, says Nirmala Sitharaman

Finance Minister says GST Council is a constitutional body where Modi doesn’t take decisions, but State Finance Ministers take them

The Hindu

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How used clothes became part of Africa's creative economy -- and fashion sense

In recent years the global secondhand apparel market for clothing and shoes has grown exponentially. In 2002 used clothing exports were worth US$1.4 billion. Despite a slowdown during the COVID-19 pandemic exports were close to US$4 billion in 2020.

The Conversation

3 Stocks Trading Near 52-Week Highs Right Now

Amid a seesawing economy and a highly volatile market backdrop, fundamentally sound stocks Occidental Petroleum Corp. (OXY), Molina Healthcare (MOH), and Greif (GEF) are currently trading near their 52-week highs. Given the solid fundamentals and momentum, these stocks could be ideal additions to one’s watchlist. Let’s discuss….

StockNews.com

Preserving traditions can help build new India: Subramanian Swamy

Says Sanskrit can help realise the vision; tweaking policies can make India second largest economy after the U.S.

The Hindu

How the blue economy will shape the future of Canada's oceans — and its coastal communities

The words “blue economy” will soon shape the future of Canada’s oceans, from the fiords and straits of British Columbia to the rugged coastlines of the Atlantic to the vast seascapes of the Arctic. The transformation of Canada’s ocean economies will be felt throughout the country and will set an…

The Conversation

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Inflation and recession, we’re taking a trip back to the chaotic Seventies

Imagine, for just a moment, you’re an economic policymaker tasked with managing the path of an economy. Now envisage a set of economic conditions that makes your task near-enough impossible. That, unfortunately, is where many real-life policymakers find themselves today. There’s too little growth but there’s also too much inflation.…

Evening Standard

Saudi Arabia Posts Highest Economic Growth Since 2011

The Saudi General Authority for Statistics (GASTAT) revealed on Sunday that the Kingdom’s real gross domestic product (GDP) jumped by 11.8 % year-on-year (YoY) in the second quarter of 2022. The announcement countered International Monetary Fund projections that the economy will grow at 7.6% this year, the highest growth among…

Asharq Al-Awsat

Rishi Sunak rejects claim he has ‘doomster’ attitude to economy

Former chancellor says he finds his successor’s accusation ‘amusing’ as he vows to cut income tax by 20%

The Guardian - UK

Thai baht soars 1% on rate hike drum roll

The baht appreciated more than 1% on Monday, logging a strong start to the month which is expected to see the country finally join its regional and global peers in normalising its pandemic-era stimulus policy as the economy gains traction.

Bangkok Post

Righter than right: Tories’ hardline drift may lose the public

Polls suggest leadership race may be going further than even Conservatives might want on immigration, economy and climate

The Guardian - UK

Solar is the cheapest power, and a literal light-bulb moment showed us we can cut costs and emissions even further

Recent extreme weather events have underscored the need to cut the CO₂ emissions that are driving up global temperatures. This requires a rapid transition of the energy economy to renewable energy sources, the cheapest being solar photovoltaics (PV). And our newly published research points to a way we can drive…

The Conversation

British PM candidate Sunak vows 20% income tax cut by 2029

Rishi Sunak, trailing in the race to become Britain's next prime minister, has vowed to slash the basic rate of income tax by 20% by 2029 in a potentially make-or-break throw of the dice by the former finance minister.

Reuters

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Bangkok Post

Empowering SMEs

2022 has seen an "unprecedented confluence" of challenges for businesses across the world, from the protracted Covid-19 pandemic, economic slowdown and heightened inflation to geopolitical uncertainties. Small and medium enterprises (SMEs) globally are among those hit hard by such an unfavourable environment.

Bangkok Post

Fighting Thailand's energy price wars

State energy subsidies have assumed a prominent role in the Thai economy since the start of the Russia-Ukraine war in February.

Bangkok Post

Mixed feelings on recovery outlook

Bustling commuters, traffic gridlocks and crowded shopping malls have become more common in the third quarter following the country's reopening in June, fuelling hopes that Thailand is now getting back on its feet.

Bangkok Post

Why Bangladesh won't face a Sri Lanka-style crisis

The economic and political disaster in Sri Lanka has been a hot topic in recent months, with commentators looking around for signs of similar trouble in other emerging market economies.

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Newcastle Herald

We need a big plan to help towns like Broke after natural disasters

I think the time has come for a permanent federal disaster levy to be dished out and run strictly by the federal government immediately for the greater good.

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

The Guardian - UK

China’s factory activity shrinks amid Covid disruption

Sharpest contraction is in energy-intensive industries, such as petrol, coking coal and ferrous metals

The Independent UK

South Africa's ANC says economy, corruption are priorities

South Africa President Cyril Ramaphosa says the fight against corruption and work to improve the country’s faltering economy have been endorsed by the ruling African National Congress party in order to improve its declining electoral support

Axios

Biden’s long-game economic success story

The president has slowly but substantially re-engineered significant parts of the American economy.

The Hindu

‘Keep economy in mind while making estimates for next budget’

Money constraints faced by the government call for austerity in the budgeting exercise, Finance department says

The Guardian - UK

Era of soaring house prices is ending as central banks raise rates

Policies are tightening when major economies are either falling into recession or heading that way

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