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The Latest Breaking News from Economy

Abu Dhabi to Pump $2.7Bln in Industrial Sector

The UAE capital, Abu Dhabi, launched its Industrial Strategy on Thursday. The government will invest through this strategy AED10 billion ($2.7 billion) across six transformational programs to more than double the size of Abu Dhabi’s manufacturing sector to AED172 billion by 2031 by increasing access to financing, enhancing ease of…

Asharq Al-Awsat

Asian shares mostly lower after pessimistic 'tankan' survey

Asian benchmarks are lower, echoing a decline on Wall Street, after a quarterly report by Japan’s central bank rekindled worries about the world’s third largest economy

The Independent UK

PM Modi greets chartered accountants on CA Day

‘A Chartered Accountant has an important role in our economy,’ says the PM

The Hindu

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Weekly Must-Read: How Bad Is China’s Manufacturing Exodus?

While disruptions from pandemic controls threaten to add impetus to the outflow, China retains tremendous advantages over India and Southeast Asia

Caixin Global

The best start-up firms in Wales revealed

The Wales StartUp Awards 2022 were held at the Depot in Cardiff

Birmingham Post

NZ and the changing face of space exploration

More than 74 nations and a rapidly growing number of private companies are participating in a burgeoning space economy – including New Zealand, write Mitchell Bruce and Robert G Patman

Newsroom.co.nz

BoT demonstrates economic gains despite inflation spike

Thailand's economy has continued to rebound, reflected by better signals in the May economic data, despite a sharp spike in the inflation rate, according to the Bank of Thailand.

Bangkok Post

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City Hall, TAT plan festivals for capital

City Hall is working with the Tourism Authority of Thailand (TAT) to promote tourism in Bangkok and revitalise the economy with a plan afoot to organise a variety of festivals in the capital to attract tourists all year round.

Bangkok Post

Economists sour on US outlook after spending stumbles

An influx of data showing softer consumer spending, sagging sentiment and subdued manufacturing suggest a U.S. economy with a more fragile foundation, prompting several forecasters to lower their estimates for growth.

Tribune News Service

Sky-high mortgages, high inflation, possible recession. How The Conversation’s panel sees the year ahead

Now in its fourth year, The Conversation’s survey draws on the expertise of leading forecasters to predict what lies ahead for the Australian economy.

The New Daily

Air traffic control funding model ravaged by pandemic as industry struggles to recover

Commercial aviation is critical to the global economy. In 2019, it supported more than 65 million jobs and had a global economic impact of US$2.7 trillion. The COVID-19 pandemic has been unlike any crisis, both in terms of depth and duration, and damaged the aviation industry more than most sectors.

The Conversation

Climate change targets achievable by keeping global emissions to COVID levels, scientists say

Between 2019 and 2020, global CO2 emissions experienced the greatest year-on-year drop in recorded history. Researchers say we have to cut emissions by that much every year to keep climate change within safe boundaries.

ABC News

Top Russian economist Mau charged in 'large-scale' fraud case

Leading Russian economist Vladimir Mau has been charged with fraud "on an especially large scale", the interior ministry said on Thursday, in a shock to Russia's academic and economic elite.

Reuters

Business confidence collapsing in Colorado as recession fears mount

Confidence among Colorado business leaders has plunged, with one in five now saying the U.S. economy has already entered a recession and nearly three in five expecting the downturn to arrive sometime next year, according to the latest Leeds Business Confidence Index from the University of Colorado Boulder.

The Denver Post

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Al Jazeera

South Africa’s persistent power cuts: What you need to know

Eskom has struggled to meet electricity demand in Africa’s most industrialised economy for at least a decade.

Benzinga

Tencent, Other Chinese Companies Follow Western Counterparts In Laying off Staff As Economic Slowdown Weighs

Chinese tech giants like Tencent Holding Ltd (OTC:TCEHY) and TikTok parent ByteDance Ltd implemented fresh layoffs affecting thousands of employees in their latest round of cost-cutting, the Wall Street Journal reports. The job cuts added on to the tens of thousands of employees already axed by Chinese internet companies since late 2021 after the domestic regulatory crackdown crushed the…

Tribune News Service

Dallas-Fort Worth added nearly 295,000 jobs in the past year, triple its typical pace

The U.S. economy may be facing headwinds from inflation and higher interest rates, but the labor market is still on fire in North Texas.

Al Jazeera

The end of Roe v Wade will hurt poor women most, economists warn

Anti-abortion groups say that the ‘immeasurable’ talent lost to abortion has already battered the US economy.

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Daily Record

Scots spending less on food and other essentials as inflation batters economy

Rising costs and soaring fuel bills are being felt across the country and causing a sharp drop in consumer confidence.

Wales Online

Further questions about the £4.25m the Welsh Government spent on a farm for Green Man

It has emerged the founder of the Green Man festival will live at the site

Bangkok Post

Thailand eyes metaverse gains

The Ministry of Digital Economy and Society (DES) is pinning its hopes on Thailand becoming an early adopter of so-called metaverse technology and applying this for commercial use in order to reap the benefits.

Bangkok Post

Call grows for quick shift to digital economy

Thailand should look beyond tourism and make the transition to a digital economy to generate more revenue for the country, Jirayut Srupsrisopa, the founder and CEO of Bitkub Capital Group Holdings, said on Thursday.

Reuters

Bhutan to welcome tourists 'who can spend' for first time since COVID

Bhutan will reopen for international tourists from September for the first time since the pandemic began more than two years ago, officials said on Thursday, as the tiny Himalayan kingdom looks to revive its economy.

The Independent UK

Key inflation gauge tracked by the Fed remains a high 6.3%

A measure of inflation that is closely tracked by the Federal Reserve rose 6.3% in May from a year earlier, unchanged from its level in April

The Independent UK

Slightly fewer Americans apply for jobless claims last week

Slightly fewer Americans applied for unemployment benefits last week, reflecting a still robust job market despite increasing layoffs in some sectors of the economy that have cooled in recent months

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