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The Latest Breaking News from Economy

China announces detailed stimulus measures to support virus-hit economy

China's cabinet announced a package of 33 measures covering fiscal, financial, investment and industrial policies on Tuesday to revive its pandemic-ravaged economy, adding it will inspect how provincial governments implement them.

Reuters

Shanghai moves toward ending 2-month COVID-19 lockdown

Shanghai authorities say they will take some major steps Wednesday toward reopening China’s largest city after a two-month COVID-19 lockdown that has throttled the national economy and largely bottled up millions of people in their homes

The Independent UK

Japan’s factory output slumps in worrying sign for economy

Factory production falls 1.3 percent in April as China lockdowns and Ukraine war weigh on manufacturers.

Al Jazeera

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Inflation might motivate Republicans, but don’t expect it to win them many California elections

SACRAMENTO — Wallet-eating gasoline. Soaring grocery prices. Unaffordable housing. Tumbling stocks.

Los Angeles Times

Biden to meet Fed chair as inflation bites pocketbooks

President Joe Biden will meet Tuesday with Federal Reserve chairman Jerome Powell as soaring inflation takes a bite out of Americans’ pocketbooks

The Independent UK

Tapping mineral wealth in mining waste could offset damage from new green economy mines

To go green, the world will need vast quantities of critical minerals such as manganese, lithium, cobalt and rare earth elements. But to some environmentalists, mining to save the planet is a hard pill to swallow if it leads to damage to pristine areas.

The Conversation

Productivity Commission inquiry calls for transparency from Immigration

No more “black box decisions”, says Productivity Commission after analysing the effect of immigration settings on the efficiency of New Zealand’s economy

Newsroom.co.nz

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8 years, 8 indicators: How economy fared under Modi government

NEW DELHI: Prime Minister Narendra Modi-led BJP government embarked upon their journey in 2014 to create an India that is self-sufficient in all aspects and where all sections of the society have access to basic amenities.

The Times of India

Haiti has suffered hugely over centuries but its revolution was stunningly innovative

Since the New York Times published its recent series of bombshell articles about the crippling reparations that France imposed on Haiti after it won independence in 1804, much has been written about how this 150 million franc “indemnity” had virtually doomed the fledgling country before it had a chance to…

The Conversation

Analysis: The ‘satchetisation’ of Africa’s largest economy

High poverty rates in Nigeria have led many businesses, including those in tech, to adopt sachet marketing to survive.

Al Jazeera

Inflation genie is well and truly out of the bottle

Brent Crude touching $120 for the first time since March will trip economy red warning lights

Evening Standard

Shanghai Announces Raft of Policies to Resurrect Economy

Government aiming, in particular, to prop up the property market, smaller enterprises, and consumer demand

Caixin Global

Sacha Lord vows to support venues and bars across UK as national chair of Night Time Industries Association

Greater Manchester's night-time economy advisor says industry is at "pivotal point" in its post-pandemic recovery

Birmingham Post

Companies could be banned from destroying unsold goods under new Green bill

A NEW law is being proposed which would see companies banned from destroying unsold durable goods.

The National (Scotland)

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Caixin Global

Editorial: Gaining the Upper Hand in a Changing Global Economy

Whether it’s about stabilizing macroeconomic fundamentals or dealing with future global competition, China should stick to ‘doing its own thing well’

Insider UK

New law could ban companies from destroying unused durable goods

The Circular Economy Bill will also introduce charges for single-use coffee cups

The Guardian - UK

This age of inflation reveals the sickness ailing Britain’s economy: rentier capitalism

Profits have become all-but guaranteed for wealthy elites, says economist William Davies

Financial Times

The Bank of Viktor Orbán

Hungary’s prime minister has long sought economic influence to match his political power. Now his plan for a three-bank merger is coming to life

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Bangkok Post

Shopee unveils “Shopee International Platform” Joins forces with DITP to help Thai SMEs reach consumers around the region

‘Shopee, the leading e-commerce platform in Southeast Asia and Taiwan, recently took its ‘6.6 Greatest Brand Celebration’ as an opportunity to launch “Shopee International Platform”, or SIP, a special program putting into practice its commitment to help Thai businesses take advantage of the borderless digital economy to develop and grow.

Birmingham Post

A50/A500 investment proposals given 'thumbs up' from Staffordshire residents

Midlands Connect has outlined how improvements to the A50/A500 corridor could add £12 billion to the region's economy

Reuters

Zero-COVID, big money: China's anti-virus spending boosts medical, tech, construction

China's 'zero-COVID' policy of constantly monitoring, testing and isolating its citizens to prevent the spread of the coronavirus has battered much of the country's economy, but it has created bubbles of growth in the medical, technology and construction sectors.

Bangkok Post

Don't turn off the tap just yet

Whether the government should bid farewell to economic stimulus measures became a source of debate after the topic was raised by an economist at Thailand Development Research Institute (TDRI).

The New Daily

Alan Kohler: Jim Chalmers needs an inquiry into tax

By far the best thing Jim Chalmers could do for his party and the country would be to find a way to escape the 23.9 per cent limit on tax to GDP.

Asharq Al-Awsat

EU Unity on Russian Sanctions ‘Starting to Crumble’, German Minister Says

German Economy Minister Robert Habeck on Sunday expressed fears that the European Union's unity was "starting to crumble" ahead of a summit to discuss an oil embargo against Russia and plans to cut dependence on Russian energy. EU leaders will meet on Monday and Tuesday to discuss a new sanctions…

Reuters

EU unity on Russian sanctions 'starting to crumble', German minister says

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