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World Economy

File photo of Bill Gates.

Bill Gates Visits China As Leaders Try To Revive Foreign Business Interest

Gates, who stepped down as Microsoft chairman in 2014, said on Twitter late Wednesday that he would meet partners who have worked with his charitable foundation. 

15 June 2023

United Kingdom

British Economy Recovers Slightly In April But Strikes Set To Keep A Lid On Growth

The Office for National Statistics said on Wednesday that the economy grew by 0.2 per cent during the month. The increase was in line with expectations but failed to fully recoup the 0.3 er cent contraction in March.

14 June 2023

Storage tanks are seen at the North Jiddah bulk plant, an Aramco oil facility, in Jiddah, Saudi Arabia.

Oil Giant Saudi Aramco Reports $31.88 Billion Profit In 1st Quarter

Aramco stock traded at $9.55 a share on Riyadh's Tadawul stock exchange at close Monday, giving the oil firm a $2.1 trillion valuation and putting it only behind Apple and Microsoft for the highest market capitalization in...

09 May 2023

Turkey President Recep Tayyip Erdogan

Turkish Leader Says His Economic Views Are Same But He'll Accept Finance Minister's Approach

Erdogan, who was re-elected to a third term last month, appointed Mehmet Simsek, an internationally respected banker who served in the Cabinet previously, as treasury and finance minister.

15 June 2023

US President Joe Biden

Joe Biden: Debt Meeting 'Productive,' Default 'Not An Option'

Before the White House meeting, both McCarthy and White House press secretary Karine Jean-Pierre insisted it would be simple to avert default — if only the other side capitulated

10 May 2023

UBS To Take In Credit Suisse CEO As Merger Closes In 2 Weeks

The Swiss attorney general's office has opened a probe into events surrounding Credit Suisse ahead of the UBS takeover, and the executive branch ordered tens of millions in cuts to the bonuses of top Credit Suisse executives...

09 May 2023

Google

Google Should Break Up Digital Ad Business Over Competition Concerns, European Regulators Say

The unprecedented decision to push for such a breakup marks a significant escalation by Brussels in its crackdown on Silicon Valley digital giants, and follows a similar move by US authorities seeking to bust Google's...

15 June 2023

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US Treasury Secretary Janet Yellen

US Treasury Secretary Janet Yellen: 'No Good Options' If Congress Fails To Act On Debt

House Republicans on April 26 passed a bill that would raise the debt limit but impose significant federal spending cuts

08 May 2023

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05 May 2023
India's Forex Reserves Rise $4.532 Billion $588.78 Billon

India's Forex Reserves Rise $4.532 Billion $588.78 Billon

The Special Drawing Rights (SDRs) were up $35 million to $18.466 billion.


02 May 2023
Sri Lanka Banks Concerned Over Local Debt Restructuring, Seek Transparency From Government

Sri Lanka Banks Concerned Over Local Debt Restructuring, Seek Transparency From Government

Sri Lanka has introduced painful economic measures such as tax hikes and utility rate hikes to unlock the programme. Trade unions and opposition groups have...


02 May 2023
Dubai Welcomed 6.12 Lakh Visitors From India During January-March Quarter

Dubai Welcomed 6.12 Lakh Visitors From India During January-March Quarter

This is a remarkable achievement since turning the tide in July 2020 by reopening the city to international tourists, and in spite of current global economic...


02 May 2023
Economists Divided Over Global Recovery; India To Benefit From Supply Chain Changes: WEF Survey

Economists Divided Over Global Recovery; India To Benefit From Supply Chain Changes: WEF Survey

In its latest Chief Economists Outlook, the World Economic Forum said economists expect both growth and inflation dynamics to vary widely across regions


01 May 2023
Regulators Seize First Republic Bank, Sell To JPMorgan Chase

Regulators Seize First Republic Bank, Sell To JPMorgan Chase

First Republic Bank's 84 branches in eight states will reopen Monday as branches of JPMorgan Chase Bank


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28 April 2023
Amazon Stocks Surge After Q1 Revenue, Profit Wins

Amazon Stocks Surge After Q1 Revenue, Profit Wins

Amazon CEO Andy Jassy wrote in his annual shareholder's letter released earlier this month that AWS, the leader in the cloud market, was facing short-term...


28 April 2023
Google Bans 1.43 Million Apps From Entering Play Store For Policy Violation

Google Bans 1.43 Million Apps From Entering Play Store For Policy Violation

The company announced that it will adopt a more privacy-friendly approach to advertising in 2023


26 April 2023
Google's Persisting Ad Slump Weighs On Alphabet's 1Q Results

Google's Persisting Ad Slump Weighs On Alphabet's 1Q Results

Google's current ad slump largely reflects more cautionary spending among companies reacting to a slowdown in discretionary consumer spending amid...


25 April 2023
Singapore Refutes Reports About 3,500 High-Net-Worth Individuals Becoming New Citizens

Singapore Refutes Reports About 3,500 High-Net-Worth Individuals Becoming New Citizens

According to media reports last Thursday, which cited the Head of Research at wealth intelligence firm New World Wealth, Andrew Amoils, most prospective...


25 April 2023
UBS Reaps $28 Billion In New Assets In 1Q; Credit Suisse Deal Looms

UBS Reaps $28 Billion In New Assets In 1Q; Credit Suisse Deal Looms

The net inflows at UBS came in marked contrast to the 61 billion Swiss francs (nearly $69 billion) in outflows that Credit Suisse reported Monday for the first...


25 April 2023
UK PM Rishi Sunak’s Parliamentary Probe Over Wife’s Shares Extended

UK PM Rishi Sunak’s Parliamentary Probe Over Wife’s Shares Extended

Akshata Murty, the daughter of Infosys co-founder Narayana Murthy, is listed on the UK’s Companies House register as a shareholder in Koru Kids – one of...


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24 April 2023
South Korea Restores Japan On Trade 'White List'

South Korea Restores Japan On Trade 'White List'

South Korean officials expect Tokyo to restore Seoul as a favoured trade partner too, but expect that step to take more time based on the procedures to revise...


24 April 2023
Credit Suisse: Net Asset Outflows Topped $68 Billion In Q1

Credit Suisse: Net Asset Outflows Topped $68 Billion In Q1

The takeover by UBS is expected to close in the coming months, and was designed in part to help stabilise the global financial system that had been roiled by...


22 April 2023
Ajay Banga Is Uniquely Equipped To Lead The World Bank At Such A Critical Moment: US

Ajay Banga Is Uniquely Equipped To Lead The World Bank At Such A Critical Moment: US

Banga is expected to take over the reins of the anti-poverty lender at a crucial time, with the US and Western nations pitching for reforms to focus on...


22 April 2023
UK Parliament Panel Criticises Lack Of Information On FTA Talks With India

UK Parliament Panel Criticises Lack Of Information On FTA Talks With India

India and the UK are negotiating an FTA to enhance the bilateral trading relationship worth 34 billion pounds in 2022, with the eighth round of negotiations...


21 April 2023
Credit Suisse Investors Sue After Facing Billions In Losses

Credit Suisse Investors Sue After Facing Billions In Losses

Following the 2008 financial crisis, European financial regulators use a special type of bond that is designed to provide a capital cushion to banks in times...


21 April 2023
Elon Musk's Twitter Drops Labels For Government-Funded Media

Elon Musk's Twitter Drops Labels For Government-Funded Media

The relaunched service costs $8 a month for web users and $11 a month for users of its iPhone or Android apps. Subscribers are supposed to see fewer ads, be...


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