OPEC+ says prolonged Ukraine conflict would be major blow to global economy
LONDON – OPEC+ has warned the global economy would see a major blow from a prolonged conflict in Ukraine, the oil producing group said in …
economy
China to roll out policies to stabilise economy as fast as possible: CCTV cites cabinet meeting
BEIJING – China will roll out policies to stabilise the economy as soon as possible as the downward pressure in the economy increased, state media …
S&P Global forecasts 8.5% contraction in Russia’s economy in 2022
(Reuters) – S&P Global cut its 2022 GDP growth estimate for Russia by more than 11 percentage points to an 8.5% contraction, while its forecasts …
EU should have its own full budget to stabilise economy, survey suggests
By Jan Strupczewski BRUSSELS – The European Union should, like national governments, have a proper budget it could use to stabilise the bloc’s economy if …
EU’s biggest economy Germany blocked Russian coal ban, sources say
By Francesco Guarascio BRUSSELS – In the early stages of sanctions drafting against Moscow, one idea gained traction in Brussels – a ban on the …
Japan’s March economy report flags inflation risk from Ukraine war
TOKYO – Japan needs to closely watch downside economic risks from rapid commodity inflation caused by the war in Ukraine and its disruption to the …
BOJ’s Kataoka says weak yen positive for economy
TOKYO – Bank of Japan (BOJ) board member Goushi Kataoka said on Thursday a weak yen was positive for the economy, with the damage due …
Egypt requests IMF support as economy buffeted by Ukraine spillover
CAIRO -Egypt has asked for the International Monetary Fund’s support to implement a comprehensive economic programme, the IMF said on Wednesday. Continued exchange rate flexibility …
‘Gloomy’ Dutch consumers hit by pessimism about economy, war in Ukraine
– Dutch consumer confidence deteriorated in March due to growing pessimism about the economy and the war in Ukraine, the Dutch Statistics Office CBS announced …
Ukraine conflict likely to weigh on Serbian economy, IMF says
BELGRADE – The war in Ukraine is expected to weigh on Serbia’s economy, presenting global problems such as supply chain disruptions and higher commodity prices, …
China Jan-Feb fiscal spending quickens in fight to support slowing economy
BEIJING – China’s fiscal spending rose 7.0% in January-February from a year earlier, the finance ministry said on Friday, quickening from a 0.3% rise in …
Norway economy faces negative impact from Ukraine war, statistics agency says
OSLO – The Norwegian economy has recovered from the coronavirus pandemic but now faces a negative impact from Russia’s invasion of Ukraine, Statistics Norway (SSB) …
China stocks leap after State Council pledges support for economy, capital markets
SHANGHAI – Hong Kong stocks jumped 9% on Wednesday to mark their best day since 2008, after China’s top policymaker assured markets of stability and …
Philippines sees Ukraine conflict having ‘temporary’ impact on economy
MANILA – The impact of the Russia-Ukraine conflict on the Philippine economy is expected to be temporary, Economic Planning Secretary Karl Chua told a media …
Analysis-Fallout of Ukraine war exposes Turkey’s vulnerable economy
By Can Sezer and Orhan Coskun ISTANBUL – President Tayyip Erdogan’s wager that Turkey could ride out an inflation and currency shock with low rates …
Russian economy in ‘shock’ from unprecedented economic war – Kremlin
– The Kremlin said on Thursday that Russia’s economy was experiencing a shock and that measures were being taken to soften the impact of what …
China’s economy resilient despite uncertainties caused by Ukraine crisis – state planner
BEIJING – China’s economy remains resilient despite rising uncertainties caused by the Ukraine crisis, the country’s state planner said on Monday. China will enhance policy …
NY Fed’s Williams says U.S. economy not in stagflation scenario
By Jonnelle Marte – Russia’s invasion of Ukraine adds uncertainty to the U.S. economic outlook and may boost near-term inflation, but household savings and strong …
Brazil economy minister backs bigger cooking gas subsidies as crude costs soar -sources
By Marcela Ayres and Bernardo Caram BRASILIA – Brazil’s economy minister backs a proposal to expand cooking gas subsidies for low-income families in response to …
EXCLUSIVE: Economy Committee Republicans Urge Biden To Reverse Policies Ahead Of State Of The Union
Republicans on the House Select Committee on the Economy issued a joint statement Monday, slamming the Biden administration’s “failed economic policies.” Led by Ranking Member …
Ukraine war risks to U.S. economy hinge on conflict length-White House adviser
WASHINGTON – White House economic adviser Cecilia Rouse said on Monday that the biggest U.S. economic risk from Russia’s invasion of Ukraine is from higher …
Factbox-EU sanctions target Russia’s economy, elites and Putin himself
– The European Union has imposed several packages of sanctions on Russia for launching an “unprecedented and unprovoked military attack against Ukraine”, with some measures …
Sanctions hit will see Russia economy contract 20% Q/Q in second quarter – JPMorgan
LONDON – Russia’s economy is expected to contract 20% in the second quarter and by around 3.5% for the full year following intensified sanctions, JPMorgan …
Australia retail sales rebound in Jan as economy weathers Omicron
By Wayne Cole SYDNEY – Australian retail sales were surprisingly strong in January as shoppers weathered a surge in Omicron cases with aplomb, suggesting the …
Factbox: EU sanctions target Russia’s economy, elites and Putin himself
– The European Union has imposed two packages of sanctions on Russia for launching an “unprecedented and unprovoked military attack against Ukraine”. Further sanctions, including …
Russia says sanctions will make borrowing more expensive -economy minister
MOSCOW – Economy Minister Maxim Reshetnikov on Friday said Russia was studying the long-term implications of new sanctions and admitted that the measures imposed would …
Factbox-How the Ukraine conflict could affect the U.S. economy
By Ann Saphir, Jonnelle Marte and Lindsay Dunsmuir – Federal Reserve policymakers on Thursday signaled the conflict in Ukraine will not budge them from their …
EU imposes sanctions on Russian ministers of defense, economy
– The European Union said on Wednesday it had imposed sanctions on a number of senior Russian officials, including Defence Minister Sergei Shoigu and Economy …
Russia sanctions would only have limited impact on French economy -Le Maire
PARIS – French Finance Minister Bruno Le Maire said on Wednesday that the sanctions imposed by the Western countries on Russia for ordering troops into …
Hong Kong economy expected to grow 2.0%-3.5% in 2022- finance sec
HONG KONG – Hong Kong’s economy is expected to grow 2.0% to 3.5% this year after expanding 6.4% in 2021, as social restrictions to tackle …
Fundraising by Chinese private funds dives, slowing economy takes toll
SHANGHAI – Money raised by newly-launched private funds in China plunged 44% in January from a month earlier, latest official data showed, adding to evidence …
Digital, circular economy can earn Thailand $3.4 billion a year extra – World Bank
BANGKOK – Digital and disruptive technologies and development of a circular economy can earn Thailand up to $3.4 billion each year in additional investments, savings …
OECD expects Mexico economy to rebound by 3rd-qtr, growing in 2023
MEXICO CITY -Economic growth in Mexico is expected to return to pre-pandemic levels by the third quarter this year, the Organisation for Economic Cooperation and …
German economy grows at fastest rate for six months in February -PMI
BERLIN – Improving demand for services pushed business activity across Germany’s private sector to a six-month high in February, and while manufacturing lagged due to …
Italy approves 8 billion euro package to help economy, curb energy bills
By Giuseppe Fonte and Gavin Jones ROME -Italy’s government on Friday approved measures worth around 6 billion euros ($6.81 billion) to help consumers and firms …
NY Fed’s Williams says central bank can manage soft landing for economy
NEW YORK – Supply chain issues may gradually recede over time, easing some inflationary pressures and helping the Federal Reserve achieve its goal of controlling …
Thailand’s tourism-reliant economy likely returned to growth in Q4- Reuters poll
By Vivek Mishra BENGALURU – Thailand’s economy likely returned to growth in the fourth quarter thanks to robust exports and easing of COVID-19 curbs, but …
Singapore keeps 2022 growth forecast as economy stays on recovery path
By Aradhana Aravindan SINGAPORE -Singapore maintained its forecast for the economy to expand 3-5% this year as the city-state’s recovery from the pandemic slump continues, …
Peru economy likely to have exceeded pre-pandemic levels -cenbank
LIMA – Peru’s economy is expected to have stayed above pre-pandemic levels in December and January, due to the recovery of internal demand and a …
Mexico economy minister sees 2022 growth slowing to 2.5%
MEXICO CITY – Mexican Economy Minister Tatiana Clouthier said on Monday the country’s economy was likely to grow about 2.5% this year after being hit …
Explainer-Ukraine: clouds on the horizon for Europe’s economy
– European Central Bank President Christine Lagarde has warned of “geopolitical clouds” over the European economy due to possible fall-out from further escalation of tensions …
Canada’s economy recovered to pre-pandemic levels in Nov, Dec seen flat
By Julie Gordon OTTAWA -Canada’s economy climbed to above pre-pandemic levels for the first time in November, bolstering a strong fourth quarter even as activity …
Ukraine Warns West’s ‘Panic’ Over Russian Invasion Could Sink Its Economy
Ukrainian President Volodymyr Zelensky warned the West that its “panic” over Russia potentially invading his country risked hurting its economy, BBC News reported. “There are …
US Economy Grew Faster Than Expected At The End Of 2021
The U.S. economy grew at a faster rate than was anticipated pace in the fourth quarter of 2021, benefiting from solid consumer demand before the …
US Economy Adds Just 199,000 Jobs In December, Far Below Expectations
Harry Wilmerding on January 7, 2022 The U.S. economy recorded an increase of 199,000 jobs in December and the unemployment dipped to 3.9%, the U.S. …
POLL: Approval For Biden’s Handling Of Economy, Coronavirus Sinks Further
Approval of President Joe Biden’s handling of the economy and coronavirus sank even further in recent days, according to a new CNBC All-America Economic survey. …
Kamala Harris says Biden’s souring economy is “rough” and “real” as uncertainty looms ahead of the holiday season
As Americans are trying to figure out how to push through a very difficult upcoming holiday season where it’s going to cost a considerable amount …
House ways and means committee: How did Biden bungle economy this badly?
Responding to the awful third quarter GDP report, Ways and Means Republican Leader Kevin Brady (R-TX) issued the following statement: “This is an awful report, …
Taliban Are Relying On Former Government Officials To Manage Failing Economy
Afghan citizens are at risk of starvation and falling under the poverty line as the country’s economy continues to decline under Taliban leadership, the Associated …
McAuliffe And Youngkin Locked In Close Race, Vaccine And Economy Are Driving Issues
Forecasters called Virginia’s gubernatorial race a national bellwether, as a poll released Tuesday shows former Democratic Gov. Terry McAuliffe of Virginia leading Republican candidate Glenn …