World Economy

Getting revenue of up to a trillion rubles through privatization of government-held assets is rather a strategic plan than a realistic prospect for 2016, Mikhail Zadornov, the CEO and President of…

The most destructive oil crash in a generation is giving ship owners a billion-dollar windfall.

The (Persian) Gulf Cooperation Council equity markets fell in early trade, with Saudi Arabia’s benchmark index leading the losses as it plunged 3.23% to reach 6,766.56 following the…

Vietnam has issued detailed regulations for foreign investors in 17 business sectors in a drive to improve the investment climate of a fast-growing country blighted by bureaucracy, but now seeing…

Global economic growth will be "disappointing" next year, the head of the International Monetary Fund said in a guest article for German newspaper Handelsblatt published on Wednesday.

Cuba is forecasting that economic growth will halve in 2016 to 2% from this year, and Cuban President Raul Castro blamed the decline on falling export revenues.

Brazil’s primary public sector budget deficit widened sharply in November, the central bank said, as falling tax revenues undermined government efforts to shore up public accounts amid a deepening…

Inflation will hit 44% in Ukraine this year, as the embattled economy has seen prices soar amid economic collapse. Consumer prices have hit eye-watering levels in 2015, according to the country’s…

Gold edged up on Tuesday in response to a flat dollar and slightly firmer oil prices, but the metal is heading for its third consecutive year of losses on prospects of rising US interest rates,…

New economic prospects open for Serbia on the Russian market after Russia imposed sanctions against Turkey, Prime Minister Aleksandar Vucic said on Monday. The prime minister was quoted by Sputnik…

Deutsche Bank has said it is selling off its stake in China’s Hua Xia Bank.  Germany’s biggest lender indicated the move was in line with its new strategy to withdraw from a number of foreign…

Spanish shops are now hiring at pre-crisis levels, while business confidence is also holding up in Italy, according to official figures.

Spain’s national statistics agency said retail…

Following the promise of President Mauricio Macri to reopen the economy to international financial markets after taking power, Argentina exited currency restrictions, devalued its currency, and…

With just few trading sessions remaining in the current year, the top 20 leading stock index on a global front are set to end calendar year 2015 on a mixed note. As on December 28, 11 out of 20…

More US companies have defaulted on their debt this year than issuers from any other country or region, S&P analysts led by Diane Vazza wrote in a Dec. 24 report.

The richest people on Earth became a bit poorer this year. The world’s 400 wealthiest individuals shed $19 billion in 2015, according to the Bloomberg Billionaires Index. Falling…

Financial Services Commission Chairman Yim Jong-yong pinpointed household debt and corporate debt as the biggest potential problems for the South Korean economy, calling for “fierce reform” to…

Puerto Rico’s debt debacle could soon get a lot worse. The island’s government must pay about $1 billion to its creditors on Jan. 4 to avoid defaulting for the second time since August, CNNMoney…

Chinese authorities have imposed multimillion dollar fines on several overseas shipping companies accusing them of price fixing. This is the latest case involving Beijing’s scrutiny of foreign…

Low-interest policies, ultra-cheap money, dwindling oil prices and a booming stock market–2015 was not at all a boring year economically, and there’s more excitement to come.

Saudi Arabia's budget deficit soared to $98 billion this year as the world's biggest oil exporter counted the cost of falling crude prices.

In the first budget under King Salman, the…

The Central Bank of Russia has implemented stricter rules on cash exchanges in the country. The policy is expected to tackle money laundering and the bankrolling of terrorism.

Global miners are battling to stay afloat after enduring one of the toughest years in recent times, with tumbling commodity prices and supply gluts set to force more closures and massive cuts in…

Few places are tilting toward a cashless future as quickly as Sweden, which has become hooked on the convenience of paying by app and plastic.

Russian bonds gained, pushing the yield to the lowest level in three weeks, as oil prices recovered and investors bet the central bank will have room to resume interest-rate cuts in 2016. The…