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The Latest Breaking News from GDP

Labour accuses government of failing to reverse cuts in defence spending

Opposition says no provisions made to plug reduction of 10,000 service personnel or replace Hercules planes

The Guardian - UK

Ben Wallace suggests he is not interesting in quitting over defence spending

His comments follow reports that he had threatened to resign if he did not get a commitment to raise defence spending to 3% of GDP by 2030.

The Independent UK

UK-GCC FTA Negotiations Make Significant Progress

Chief Negotiator – UK-GCC FTA, Department for International Trade Tom Wintle revealed that the UK and Gulf Cooperation Council (GCC) countries have made “good progress” in negotiations to sign a free trade agreement (FTA). Speaking on the eve of the third round of talks kick off between the parties in…

Asharq Al-Awsat

From analysis to the latest developments in health,
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Rishi Sunak pledges £5 billion for defence as UK faces a ‘volatile’ world

The PM is visiting California for talks with US president Joe Biden and Australian prime minister Anthony Albanese.

The Independent UK

Alan Kohler: Paying for AUKUS? Spending like Europe means taxing like Europe

Before the next election, Treasurer Jim Chalmers must find a way to credibly restore a balanced budget. This means new and higher taxes.

The New Daily

Britain’s older electorate can live with low GDP. It’s high inflation they abhor

Tories can take heart that the over 65s won’t punish poor GDP, research finds. Just don’t hit them in the pocket

The Guardian - UK

Bleak economic view for Asia

Thailand and China are among the lone bright spots in Asia, projected to have higher real GDP growth this year even as the rest of the region is battered by unfavourable global economic conditions and geopolitical tensions, according to global trade insurer Atradius.

Bangkok Post

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Dark clouds over construction sector despite GDP growth, as building work slips to 11-month low

The UK building sector had its worst month in almost a year, but there may be signs of greater resilience in the London housing market

Evening Standard

Saudi Economy Registers Highest Growth among G20 Countries

Saudi Arabia’s gross domestic product (GDP) grew by 8.7 percent in 2022, registering the highest growth rate among the G20 countries, despite the complex economic conditions and challenges facing the world. This rise has exceeded the expectations of international organizations, which have estimated the Saudi GDP to increase by 8.3…

Asharq Al-Awsat

Economic growth of sorts, but UK plc is going nowhere

GDP is likely to edge sideways in 2023 (if that) but the true impact of rising interest rates has yet to be felt

The Guardian - UK

UK’s economy returns to growth after rebound in entertainment and transport

The Office for National Statistics said the economy grew by 0.3% in January, following a sharp 0.5% decline in December.

The Independent UK

UK economy rebounds as Jeremy Hunt finalises budget

January GDP growth of 0.3% bigger than expected, driven by education, health and recreation sectors

The Guardian - UK

US adds 311,000 jobs in February; UK economy returns to growth; regulators take over Silicon Valley Bank – as it happened

UK economy has proved ‘more resilient than many expected’ says chancellor Jeremy Hunt, while problems at Silicon Valley Bank knock FTSE 100 down 2%

The Guardian - UK

Is Australia getting South-East Asia all wrong?

South-East Asia is a powerhouse region and a close neighbour — just don't call it our "backyard".

ABC News

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The Conversation

Economic growth doesn't have to mean 'more' – consuming 'better' will also protect the planet

Around 30 years ago, many developed countries started a process of absolute decoupling of their emissions of CO₂ and energy use from economic growth. This means keeping emissions stable, or better yet, shrinking them, while still growing the economy.

The Independent UK

Japan revises GDP to nearly flat, showing fragile recovery

Japan’s economy grew at an annual pace of 0.1% in October-December, in a downgrade from an earlier 0.6% increase

Bangkok Post

Part 1: The country needs to change

Before I start the article, I would like to report that Thailand's economic performance in January 2023 was no better than the last quarter of 2022, when GDP growth was merely 1.4%.

Caixin Global

Wang Tao: Takeaways From China’s Government Work Report

UBS has upgraded its GDP growth forecast for the country to 5.4% for 2023 and 5.2% for 2024

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news in one place.

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France 24

Will pension strikes lead to fuel shortages in France?

Workers at petrol refineries across France are among those on strike against the government's proposed pension reforms. If unions continue the walkouts on a rolling basis, motorists are worried they could face petrol shortages. Also in the show: power cuts in South Africa have weighed more than expected on GDP…

The Times of India

Explainer: What is 'Hindu rate of growth' and why Raghuram Rajan's remarks may be 'premature'

NEW DELHI: India's gross domestic product (GDP) data for the third quarter (October-December 2022) received a word of caution from the former Reserve Bank of India (RBI) governor Raghuram Rajan.

Axios

China's underwhelming 2023 economic growth target

The modest growth goals suggest China's economy may continue to weigh on global GDP.

The Conversation

Underlying Australia's inflation problem is a historic shift of income from workers to corporate profits

The three years since the onset of the pandemic have witnessed a dramatic redistribution of national income, away from labour compensation and towards business profits.

The Guardian - UK

‘They’d never seen sliced bread’: how a tiny film about Himalayan yak-herders conquered the world

Filmed in a remote Bhutan village, Lunana: A Yak in the Classroom captures a way of life that is rapidly vanishing. Its Oscar-nominated director talks about growing up in a country where prosperity is measured by happiness, not GDP

Fortune

How the IMF naively parroted Putin’s fake statistics–and botched its economic forecast for Russia

The IMF simply does not have the data it needs to independently calculate Russia’s GDP by any accepted method.

Bangkok Post

State eager to avoid fiscal fiasco

The government set an ambitious goal to achieve a balanced budget in 10 years, even though several obstacles still remain.

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Arkhom Termpittayapaisith

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Office for National Statistics

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