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The Latest Breaking News from Economy

Powell says Fed will ‘keep pushing’ until inflation comes down

Federal Reserve Chair Jerome Powell, in his most hawkish remarks to date, said the US central bank will raise interest rates until there is “clear and convincing” evidence that inflation is in retreat.

Tribune News Service

Cost of living crisis: Labour set to force Commons vote calling for emergency budget

Party will seek to put pressure on Tory MPs as cost of living crisis bites

The Independent UK

Canada faces huge physical costs from climate change, making net zero a great investment

There has been a lot of discussion in Canada lately about the financial costs of achieving the country’s climate targets. And rightly so. The situation is urgent and we need to act now.

The Conversation

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Will a 5 per cent pay rise for workers lift the cost of your coffee and petrol by the same amount?

Boosting workers' wages by 5 per cent – for all workers, not just those on the minimum wage — would lead to an increase in prices across the economy of about 2 per cent, according to a new report.

ABC News

Alibaba, Other Chinese Stocks Pop As China's Top Economic Official Expresses Support For Digital Platform Ahead Of 2022 Election

China's top economic official offered an unusually public show of support for digital platform companies hinting toward possible ease in the ongoing crackdown, Bloomberg reports. The latest comments may inject much-needed confidence into the capital markets. Tencent Holding Ltd (OTC:TCEHY) and Alibaba Group Holding Limited (NYSE:BABA) combined lost over $1 trillion in market value post…

Benzinga

Competition in telecom sector has brought tariffs down: PM Modi

NEW DELHI: Emphasising that higher competition had led to lower tariffs in the telecom sector, Prime Minister Narendra Modi on Tuesday called for greater regulatory ease for the aggressive expansion of mobile services and spoke about the immediate rollout of 5G and thereafter 6G by the end of this decade…

The Times of India

Saudi-Thai Roadmap to Boost Partnership in 4 Investment Sectors

Saudi Minister of Investment Khalid al-Falih announced that the developed Saudi-Thai road map would be further boosted by the new investments in tourism, healthcare, industry, and manufacturing operations. The Ministry of Investment in Riyadh organized the Saudi-Thai Investment Forum, with the participation of the Minister of Investment, the Thai Deputy…

Asharq Al-Awsat

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Arkhom says growth outlook good despite agency's downgrade

The Finance Minister said on Tuesday that the outlook for the economy this year was still good, despite the state planning agency's downgrade in its growth forecast, and he wanted to see a policy rate that still supports the recovery.

Bangkok Post

Elon Musk sees US as 'probably' in recession lasting up to 18 months

NEW YORK: Elon Musk said that the US economy was "probably" in a recession -- a judgment at odds with economists and available data -- and cautioned companies to watch costs and cash flows.

The Times of India

Shanghai Says 'Zero-Covid' Achieved but Millions Still in Lockdown

Shanghai on Tuesday declared it had achieved "zero-Covid" across all its districts, sparking derision on social media as millions in China's biggest city remained under lockdown. Confronted with its worst outbreak since the beginning of the pandemic, China -- the last major economy still closed off to the world --…

Asharq Al-Awsat

The repo rate in India

How does the repo rate work? How does it affect the country’s inflation and what are the factors that influence its efficacy?

The Hindu

Crowdwork pitfalls may need a (block)chain reaction

The gig economy offers workers flexibility – but inadequate labour protections. Blockchain may be the solution.

360info

UN Chief Calls for 'Inclusive Government' after Lebanon Vote

UN Secretary General Antonio Guterres called on Lebanon to form an "inclusive government" to tackle the country's economic crisis, after elections held over the weekend, his office said Monday. Guterres "looks forward to the swift formation of an inclusive government that can finalize the agreement with the International Monetary Fund…

Asharq Al-Awsat

China’s small businesses buckle under lockdowns, as expats exit

Beijing’s controversial “dynamic zero COVID policy” is hammering the world’s second-largest economy.

Al Jazeera

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Bangkok Post

Q1 GDP growth tops forecast but Ukraine war hits 2022 outlook

Thailand's economy grew faster than expected in the first quarter supported by a pickup in agriculture and an easing of Covid-19 curbs, but higher inflation remained a drag on a fragile recovery.

Bangkok Post

State preps perks for new economic corridors

The government is set to offer the highest level of incentives for investors in the bio-, circular and green (BCG) economy, innovation and high technology, R&D that increases the value of products, and human resources development to supply four new regional economic corridors.

Bangkok Post

Economy needs clear pathway: Somkid

A leader must have a clear vision to bring Thailand out of its economic crisis, said former deputy prime minister Somkid Jatusripitak at a public lecture on Sunday, his first since his exit from the Prayut administration in July 2020.

The Guardian - UK

Cost of living crisis: immediate support from Sunak a ‘moral imperative’ – CBI

Boss Tony Danker wants chancellor to aid households skipping or having smaller meals as energy bills soar

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Bangkok Post

SCGP allots B2.45bn for output hike

SCG Packaging Plc (SCGP) plans to spend 2.45 billion baht increasing its fibre packaging production capacity by 75,000 tonnes per year to meet demand growth as the economy recovers.

The Conversation

How NZ could become a world leader in decarbonisation using forestry and geothermal technology

Energy is the double-edged sword at the root of the climate crisis. Cheap energy has improved lives and underpinned massive economic growth. But because most of it comes from burning hydrocarbon fuels, we’re now left with a legacy of high atmospheric carbon dioxide (CO2) and an emissions-intensive economy.

The Guardian - UK

Bailey sets alarm bells ringing while barely mentioning the B-word

As the Convict hoped for a fudge in Northern Ireland, the Bank of England governor explained how screwed the economy is

AAP

Libs promise savings won't impact services

The Liberal-National coalition has released the costings for its election policies and promises no essential services will be impacted by savings measures.

Reuters

Ukraine's president discusses need for financial support with IMF's Georgieva

Ukrainian President Volodymyr Zelenskiy said on Monday he had discussed the need for financial support for Ukraine's economy during a video conference with International Monetary Fund Managing Director Kristalina Georgieva.

Tribune News Service

China’s economic activity collapses under Xi’s COVID Zero policy

China’s economy is paying the price for the nation’s COVID Zero policy, with industrial output and consumer spending sliding to the worst levels since the pandemic began and analysts warning of no quick recovery.

Birmingham Post

Half of businesses are turning down clients over ESG credentials, according to new report

BDO has published its Rethinking the economy survey

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