World Economy

In Turkey, economists and businesspeople unanimously agree that Russian sanctions will cause an economic slowdown in the country.

Syria’s civil war has split former economic partners Moscow…

Nigerians have been urged to exercise patience with the administration of President Muhammodu Buhari with assurance that they would start feeling the economic impact of his government in…

Staff reductions at some of the world’s biggest banks are far from over. Deutsche Bank AG, which has held employment close to its 2010 peak, plans to slash 26,000 positions by 2018, following a…

As Greek Prime Minister Alexis Tsipras braces for another round of tough negotiations with creditors, savers are still reluctant to bet their money that this year’s talks will be less perilous for…

Britain could be pushed into a “new economic storm”, the director general of the British Chambers of Commerce has warned, as he urged politicians to take action to support the UK over the coming…

New Year has arrived and with it that special time when resolutions are often made for the year ahead. With this in mind, Pacific Money takes a look at what the Asia-Pacific region’s biggest…

Russia’s Finance Ministry is filing a lawsuit against Ukraine for failing to pay off its $3 billion debt to Russia before the December 31 deadline. This means that Ukraine is now officially in a…

Gold was steady on Thursday but poised to mark its third straight annual loss, ahead of what is likely to be another tough year with the prospect of higher US interest rates and dollar strength,…

The year 2016 is set to be an important year for Cyprus and not just because everyone seems to be touting it as the year of settlement. In March, the country exits the assistance program after…

The new round of tariff reductions under the China-Australia Free Trade Agreement and the Korea-Australia Free Trade Agreement kicked in on Friday, giving Australian exporters an extra reason to…

South Korea’s exports fell for a 12th straight month in December, capping its worst yearly trade performance since the 2008-2009 global financial crisis, and the government warned there was no…

Stock markets in the Persian Gulf Arab states ended 2015 in negative territory on Thursday, following a massive decline in oil prices and regional turmoil.

The Saudi stock market led the…

Economist ýand chief strategist at Investment Solutions, Christ Hart, has warned that the South African economy will continue to grapple with slow growth and high inflation in 2016, NewsNow…

When it comes to sovereign debt, the term “default” is often misunderstood. It almost never entails the complete and permanent repudiation of the entire stock of debt; indeed, even some Czarist-…

The number of Americans filing applications for unemployment benefits rose more than projected during the Christmas week, reaching the highest level in almost six months, perhaps reflecting…

Investors pumped $10 billion into US-based stock funds in the week that ended Dec. 30, Lipper data showed on Thursday, demonstrating a willingness to take on risk at the end of a year that has…

Contracts to buy previously owned US homes fell in November for the third time in four months, a signal that growth in the US housing market could be cooling.

The National Association of…

Russia will prohibit Turkish companies from construction, tourism, the hotel business and services for state and municipal needs from Jan. 1 onwards, the Russian government said on Wednesday in a…

When the final numbers are tallied, 2015 will probably count as another disappointing year for global growth.

The muted performance came even as central banks continued to pump in liquidity…

Economy, Development and Tourism Minister Giorgos Stathakis didn’t rule out the possibility of imposing a tax on banking transactions as part of the government’s efforts to increase…

China could run its biggest budget deficit in perhaps half a century next year as leaders turn to government spending to arrest the slowdown in the economy, policy advisers say, after a year of…

Egypt’s current account deficit more than doubled to $4 billion in the first quarter of its financial year as tourism revenues plunged, the central bank said on Wednesday, Reuters reported. The…

The remittance industry in the UAE, which is estimated around Dh55 billion ($19 billion), flourished in 2015 despite over 50% decline in oil prices. Remittances from the UAE are expected to cross…

Egypt, Ethiopia, and Sudan have signed an agreement finalizing the two firms tasked with carrying out studies on the potential impact of Ethiopia’s Grand Renaissance Dam on the flow of the Nile,…

After months of holding out, the Philippines on Wednesday said it would join the China-led Asian Infrastructure Investment Bank before a year-end deadline for founding members, Bloomberg reported…