Saudi Arabia is set to become a global leader in green hydrogen production, as it plans to start operating its first plant in 2025. The...
Kering’s Luxury Brands Suffer From Slowing Demand in Q3 2023
Kering, the French luxury group that owns brands such as Gucci, Yves Saint Laurent, and Bottega Veneta, reported a 9% drop in sales in the...
China probes Foxconn over tax and land issues, warns Taiwan firms to be responsible
China has launched an investigation into tech giant Foxconn, a Taiwanese firm that is one of the world’s largest contract producers of electronics and a...
Gas tariff hike delayed by four months, causing Rs78 billion loss to the system
The government’s indecision on increasing the natural gas tariff has resulted in a huge loss of Rs78 billion to the gas system, according to senior...
Pound rises despite weak UK data as euro zone outlook worsens
The pound gained some ground against the euro on Tuesday, shrugging off disappointing UK labour market and business activity data, as a survey showed the...
Nigeria Plans to Borrow $11.98 Billion for 2024 Budget
Nigeria, the largest economy in Africa, is facing a huge budget deficit as it struggles to cope with the impact of the Covid-19 pandemic, low...
Xi Jinping’s Rare Visit to Central Bank Signals Focus on Economy
Chinese President Xi Jinping made an unprecedented visit to the nation’s central bank and foreign exchange regulator on Tuesday, according to people familiar with the...
Florida, Texas, and New Jersey Attract Young and Rich Americans in 2023
According to a recent report by SmartAsset, a financial advisory firm, many young and wealthy Americans are moving to states with lower costs of living...
BoE unlikely to raise rates again this year, poll suggests
The Bank of England (BoE) is expected to keep its policy rate unchanged at 5.25% at its next meeting on November 2, according to a...
Visa profit beats estimates on post-pandemic travel boost
Visa, the world’s largest payments processor, reported a higher-than-expected quarterly profit on Tuesday, as consumers resumed their travel spending after the pandemic-induced slump. The company...
Germany surpasses Japan as the world’s third-largest economy
According to the latest projections by the International Monetary Fund (IMF), Germany’s nominal gross domestic product (GDP) is estimated to reach $4.4 trillion in 2023,...
Australia’s Inflation Surges to Highest Level in a Decade, RBA May Hike Rates Next Month
Australia’s inflation rate rose faster than expected in the third quarter of 2023, reaching the highest level in a decade and increasing the pressure on...
US Dollar Strengthens on Positive Economic Data, Powell’s Speech Awaited
The US dollar gained ground against its major rivals on Tuesday, as upbeat economic data boosted expectations of a hawkish stance from the Federal Reserve....
India Among the Top Three Fastest Growing Economies in 2024, According to IMF
The International Monetary Fund (IMF) has released its latest World Economic Outlook report, which forecasts the global economic growth for the next few years. According...
Global recession fears rise as key economic indicator turns red
A key economic indicator that has predicted two of the past three global recessions is flashing red again, raising concerns about the outlook for the...
JPMorgan CEO Dimon slams central banks for ‘dead wrong’ economic forecasts
JPMorgan Chase CEO Jamie Dimon has criticized the central banks for their inaccurate economic forecasts and their overconfidence in managing the global turmoil. He said...