World Economy

The recent decision by the People’s Bank of China to cut the effective reserve requirement ratio for banks by half a percent to 1.50% under certain circumstances fits with the government’s…

Big banks threatened Thursday to abandon Catalonia over vows by regional leaders to break away from Spain after the national government rejected calls for mediation in the volatile standoff.

If Italy’s economy really is on the mend, analysts said it is the export sector doing most of the work.

This year has seen signs that Italy’s weak economy may finally be on the mend…

International Monetary Fund chief Christine Lagarde said Thursday a worldwide economic recovery is taking hold, opening a window for countries to enact reforms aimed at attaining broader,…

As the US, Mexico and Canada prepare for another round of negotiations to revamp the North American Free Trade Agreement, Mexico’s economy minister urged the parties to stop fixating on trade…

Surges in household debt create short-lived bursts in economic growth that mask rising financial risks, including the threat of banking crises, the International Monetary Fund warned.

The World Bank raised its growth forecast for the developing economies of East Asia and the Pacific on Wednesday but warned that risks included rising protectionism and escalating tensions over…

US ratings agency Standard & Poor’s has downgraded El Salvador’s credit standing to “selective default” after the country’s parliament approved a reform to restructure sovereign debt racked…

Oman has halved the minimum salary required before an expat is permitted to have their family join them to live in the Sultanate, Yahoo reported. The decision to slash the minimum wage…

Ratings agency Moody’s Investor Service has downgraded HSBC Middle East’s rating by one notch due to the “weakening capacity” of its parent company HSBC Holdings to provide the bank with support…

The European Union’s decision to slap Amazon with a multi-million euro tax bill and take Ireland to court for not complying with a landmark case against Apple are the latest in a string of…

The European Central Bank plans to toughen rules on how eurozone banks deal with the mountain of bad loans still burdening the sector, officials said Wednesday.

Supervisors at the ECB,…

A number of banks in the UAE are in talks with international counterparts to sell down their Qatar exposure as the Persian Gulf Arab states’ diplomatic crisis drags on without resolution.

A 2013 hack affected all three billion accounts at Yahoo, triple the original estimate, the online giant’s parent company said Tuesday following a new analysis of the incident. The disclosure…

The annual inflation rate in Turkey rose for the second month in a row and is now over 11%, well above the government’s 5-percent target. President Recep Tayyip Erdogan blames high interest…

The Reserve Bank of India kept its policy rate unchanged at a near seven-year low of 6% on Wednesday, despite a sharp slowdown in economic growth, after a surge in consumer inflation to a five-…

The eurozone economy ended the third quarter with a flourish as output growth accelerated to a four-month high in September, underpinned by the steepest gain in new work received for almost six-…

While the Federal Reserve is entering the final phase of its exit strategy, there is no end in sight for the Bank of Japan’s massive monetary easing policy, which has seen nothing but expansion…

The Asian Development Bank sees the economy in oil-rich Azerbaijan contracting by 1.3% this year mainly due to declining oil production, but returning to growth in 2018, the bank’s local manager…

IMF Managing Director Christine Lagarde believes virtual currencies might just give existing currencies and monetary policy a run for their money. Speaking to an audience of central bankers at…

Americans’ confidence in the economy declined in September, with Gallup’s US Economic Confidence Index slipping to +4 from August’s reading of +6.

The UK construction sector sharply contracted in September on weak new work, data from IHS Markit showed Tuesday.

The IHS Markit/Chartered Institute of Procurement & Supply…

Greece expects economic recovery to gain pace next year when it aims to exit its bailout, the government’s draft budget showed, projecting that stronger growth will help it attain a bigger…

Italy’s public budget deficit narrowed slightly in the first half of this year to 2.4% of gross domestic product, compared with 2.6% in the same period of 2016, official statistics agency ISTAT…

The number of Russian bankruptcies is rising. Financial Corporation Otkritie, Binbank and airline VIM Avia are just a few of the Russian firms that have gone bust over the summer as the number…