World Economy

Revenue-eroding commodity price falls and sluggish wages growth in addition to a near $5 billion jump in spending have punched fresh holes in the federal budget…

The introduction of a value added tax to (Persian) Gulf Cooperation Council Arab countries will increase the cost of doing business and compliance for firms, said 61% of the respondents to a…

The 2016 outlook for (Persian) Gulf Cooperation Council banks is negative. Oil price weakness is slowing economic growth and this is taking its toll on bank liquidity and earnings, according…

For the first time in over four decades, the number of middle class Americans is now smaller than the number of those Americans who are classified as either rich or poor. The middle class, the…

The visiting World Bank chief economist Kaushik Basu has praised Bangladesh’s economic progress and termed the attainment of 6.5% GDP growth ‘a rare success’, BDNews reported. Basu’s appreciation…

Bulgaria ranked lowest in terms of gross domestic product per capita among the 28 member states of the European Union last year, according to the latest statistical data…

India selected Japan to help build its first high-speed rail link in a coup for Prime Minister Shinzo Abe and a defeat for China, which also had bid for the signature project.

Persian Gulf Arab markets fell in early trade on Sunday as the oil price slump fuelled a broad stock sell-off, Arabian Business reported. Brent crude posted its biggest weekly percentage drop in…

US higher-yielding debt securities, known as ‘junk bonds’, suddenly posted their greatest drop since 2011 in the past two trading sessions on Wall Street, just as ‘Fed week’ is…

As Russians face one of the leanest holiday seasons in years, Vladimir Putin’s personal security agency is combing the country for hard-hit places to dole out a little Kremlin generosity.

Fund managers that specialize in a single country usually find something positive to say about it, even if it is in the depths of a recession.

But not so for Brazil, the country where…

More than 100 of the top foreign investors in the world are looking towards east of Port Said in Egypt to invest in construction, says economic analyst Hosni Kholi.

The continued launch of new private sector housing projects in Taiwan is likely to drive down home prices by about 10% next year, according to Yung Ching Realty Group, CNA reported.

China’s activity data was stronger than expected in November, with factory output growth picking up to a five-month high, signaling that a flurry of stimulus measures from Beijing may have put a…

Russia’s central bank has drawn up a “risk scenario” under which oil prices will stay around $35 for the next three years, Governor Elvira Nabiullina said, an outcome that would severely dent…

Existing finance of €24 billion ($26.38 billion) from the Horizon 2020 research budget will be extended to support circular economy projects and the realization of EU climate goals, the European…

Stocks fell sharply Friday as the price of US crude oil fell below $36 a barrel. The Dow Jones Industrial Average dropped 194 points, or 1.1%, to 17381. The S&P 500 shed 1% and the Nasdaq…

US consumer sentiment inched up in December, but missed expectations, according to a report released on Friday, CNBC reported. The Thomson Reuters/University of Michigan’s preliminary December…

The German economy is continuing to expand thanks to private consumption, with refugees providing a limited additional boost, the economy ministry said in its monthly report Friday, Reuters…

South African President Jacob Zuma spooked local currency and commodity markets on Friday after he replaced a well regarded finance minister with a virtual unknown, DW reported. The rand and…

Middle East carriers saw cargo demand expand by 8.3% in October despite a slowdown in the region’s key economies of Saudi Arabia and the UAE, the International Air Transport Association has said…

The first China-Russia e-commerce platform incubator has opened in  China’s Heilongjiang Province, Interfax reported.

The purpose of the platform is to provide new enterprises with a…

An influx of a million refugees could cost Germany up to €55 billion ($60.46 billion) a year, according to a study by a prominent economic research center. The researchers said the financial…

The Bulgarian Finance Ministry announced on Friday that Standard & Poor’s Ratings Services has affirmed its ‘BB+/B’ long- and short-term foreign and local currency sovereign credit ratings on…

US companies Dow Chemical and DuPont have agreed to merge in an all-stock deal valuing the combined entity as the biggest chemical firm in the world and fuelling further consolidation in the…