World Economy

On July 24, the International Monetary Fund released the World Economic Outlook Update, July 2017: A Firming Recovery. The report has confirmed a sustained pickup in global growth with diverging…

A buoyant Brazilian business and a revenue boost from the integration of Banco Popular helped Banco Santander post a 37% rise in second-quarter net profit, though the bank’s capital and bad loan…

Singapore’s economy is on track to pick up pace into next year as the improved global outlook along with rising public spending spill over into private consumption, the International Monetary Fund…

The unemployment rate of 53% among South Africans between the ages of 15 and 24 shows that young people are the worst hit by poor economic growth, the Organization for Economic Cooperation and…

With retail inflation receding to record low levels, the Reserve Bank of India is likely to cut the benchmark lending rate by at least 0.25% in its third bi-monthly monetary policy review on…

Egypt will lower its customs exchange rate to £16.25 pounds per dollar from 16.50, effective from Tuesday, Finance Minister Amr El-Garhy told Reuters on Sunday. The new rate will be set for one…

Moroccan economic growth will reach 4.8% in 2017, said Minister of Economy and Finance Mohamed Boussaid, echoing the findings that the International Monetary Fund presented to the head of…

Disappointing second-quarter results from large cap Saudi Arabian companies were the main drag on the local index on Sunday, while neighboring bourses were mostly weak.

China has overtaken Hong Kong as the top initial public offering market. The number of listings in China’s stock exchanges has surged 303%, with 246 companies raising up to $18 billion in the…

The energy sector recovery boosted the Canadian economy in May, giving the nation the fastest level of growth since October 2000, according to a new report by The Canadian Press.

Consumer prices in Australia expanded 0.2% quarterly compared with estimates of 0.4% and 1.9% annually compared with the 2.2% estimate. Reserve Bank of Australia targets inflation to be in the…

Barcelona-based think tank FocusEconomics has slashed the gross domestic product growth forecast for the Philippines to 6.4% instead of 6.5% this year due to the impact of the terrorist attacks in…

China shut 42.39 million tons of crude steel capacity in the first half of 2017, equal to 84% of its target for the whole year, a government official said at a meeting of the country’s steel…

India has a strong potential in its shift toward a digital economy and is attracting investors for the opportunities that come with the country’s transition to a cashless society, according to…

Morgan Stanley, Royal Bank of Canada and three other banks agreed to pay a combined $111.2 million to settle US litigation accusing them of rigging prices in the roughly $5 trillion-a-day foreign…

The International Monetary Fund warned world leaders Friday to avoid resorting to protectionist measures "at all costs" due to the damage it would cause to their own and the global economy.

The Moody’s international rating agency has raised Cyprus’ credit grade by one notch to Ba3, citing strong economic growth and the government’s solid fiscal performance, AP reported. The agency…

Malaysia is no longer caught in the middle-income trap and has moved halfway towards becoming a high-income economy following the success in lowering the fiscal deficit and raising private…

Drug and vaccine maker Merck & Co. Inc. said it suffered a worldwide disruption of its operations when it was the victim of an international cyber attack in June, halting production of its…

Wells Fargo & Co said it is cutting 69 executive jobs at its retail unit, as part of a restructuring in the division, Reuters reported. Some of the executives positions will retire with full…

Venezuelan sovereign bonds due in 2022 fell to nearly their lowest level in over a year, ahead of a weekend election in which voters will elect members of a controversial new legislative body…

The International Monetary Fund on Friday said that the US dollar was overvalued by 10% to 20%, based on US near-term economic fundamentals, while it viewed valuations of the euro, Japan’s yen and…

Economic growth this year is now almost certain to stay around 3.6% after exports growth remain strong, according to the ministry of finance, Thai PBS reported. Director of the ministry’s fiscal…

Japan’s household spending rose in June after 15 months of declines, official data showed late Friday, as the government battles to make a clean break from deflation and stoke economic growth.…

Barclays Africa Group just delivered further evidence that South Africa’s economy won’t be climbing out of the doldrums anytime soon.

The Johannesburg-based lender kicked off the earnings…