World Economy

Sports apparel and footwear giant Nike will cut about 1,400 jobs, part of a plan to expand direct selling to consumers as e-commerce roils the retail sector, the company announced Thursday, AFP…

Chemical giants Dow and DuPont on Thursday won approval from US antitrust officials to merge, clearing the last major hurdle to the proposed deal, AFP reported. US Justice Department antitrust…

Scottish house prices surged in April after seeing a stall in March, the Your Move House Price Index reveals, Yahoo reported. Prices increased by 1.9%–the strongest growth since 2007–with average…

The Federal Reserve approved its second rate hike of 2017 even amid expectations that inflation is running well below the central bank's target.

In addition, the Fed provided more detail…

Canadian household debt as a share of income dipped in the first quarter but remained near record highs, Statistics Canada said on Wednesday in a report likely to reinforce concerns that consumers…

US retail sales recorded their biggest drop in more than a year in May amid declining purchases of motor vehicles and discretionary spending, which could temper expectations for a sharp…

For Oleksandar Potashnyi, a Warsaw Uber driver from Kiev, the European Union’s move this month to waive visas for Ukrainians now means he can go further west as a tourist—easily, Reuters reported…

Pakistan’s trade deficit increased by 42% year-on-year when reaching a $29.9 billion record in the first 11 months of the current fiscal year (July-May), reported the National Bureau of Statistics…

The China-backed Asian Infrastructure Investment Bank expects to more than double its lending power for regional projects over the next five years, a top executive said, denying it was an arm of…

Amid growing concerns about the impact on businesses of the high interest rates charged by financial institutions, the senate asked the Central Bank of Nigeria to intervene to save the economy.

Even before the term ‘Washington Consensus’ was popularized, it was already coming under great criticism despite the ‘counter-revolutions’ against ‘development economics’ and Keynesian economics…

The Russian economy is expected to have long-term growth, Minister of Economic Development Maxim Oreshkin said on Wednesday, Tass reported. “The foundation of changes in the last two years (in the…

The job market continues to improve in the Organization for Economic Cooperation and Development area, with the employment rate finally returning to pre-crisis levels.

The World Bank Wednesday announced a financing package for Afghanistan of more than $500 million to help the country through a difficult phase in its struggle to end poverty and to signal a long-…

German Finance Minister Wolfgang Schaeuble said the European Central Bank needed to change its current monetary policy “in a timely manner,” warning that very low interest rates had caused…

Production of fossil fuel dropped by a record amount in 2016, according to BP Plc’s annual review of global energy trends. China, the world’s biggest energy consumer, burned the least coal in six…

Iceland’s central bank lowered its key interest rate by another quarter point on Wednesday. The Monetary Policy Committee of the Central Bank of Iceland decided to cut the rate on seven-day term…

The International Monetary Fund on Wednesday raised its forecast for China’s economic growth this year to 6.7%, citing “policy support, especially expansionary credit and public investment”. The…

Output at the eurozone factories, mines and utilities rose for the second straight month in April, a sign that its more rapid recovery has continued into the second quarter.

Business confidence in Britain dropped dramatically days ahead of Brexit talks on concerns about political and economic uncertainties after British Prime Minister Theresa May lost parliamentary…

Kosovo continues to face high trade deficit. According to the latest figures of the Institute of Statistics, products which are being manufactured in Kosovo are not being able to replace imported…

Norway may be finally emerging from an oil downturn with companies the most upbeat they’ve been on economy since before the oil crisis, according to a central bank survey, Bloomberg reported. The…

Elon Musk, CEO of SpaceX, has said Tesla can be worth more than Apple, and Morgan Stanley’s Adam Jonas says he can see only one business that can make that happen.

Bond investor Bill Gross warned on Tuesday that investors should reduce their risk appetite, given the US growth rate is stunted by secular forces “which monetary and even future fiscal policies…

Consumer inflation fell to its lowest in at least five years in May because of softer food prices, raising hopes the Reserve Bank of India may cut rates to boost the struggling industrial sector,…