I.M.F. Upgrades Global Outlook as Inflation Eases
The International Monetary Fund said on Monday that it expected the global economy to slow this year as central banks continued to raise interest rates to tame inflation, but it…
The U.S. economy ended 2022 on a high note. This year is looking different
When a movie night costs $100 for a family of four Consumer spending — a major driver of the economy — continued to increase in the final months of 2022,…
Eurozone economy in 2023 will be ‘a lot better than feared,” bank chief Lagarde says
The eurozone economy will fare “a lot better” this year than initially feared, European Central Bank chief Christine Lagarde said Thursday, as hopes grow that countries can avoid a painful…
UK economy grew by only 0.1% in November
The UK economy unexpectedly grew by 0.1% in November as consumers headed to the shops in the run-up to Christmas and pubs and bars enjoyed a boost from the men’s…
World Bank report paints dire picture of global economic outlook as recession looms
Global economic growth is slowing sharply due to elevated inflation, higher interest rates, reduced investment and disruptions caused by the Russia-Ukraine war, a new World Bank report showed. The report,…
Envoy: India to invest $700m in Egypt
CAIRO: India looks forward to pumping additional investments into Egypt amounting to about $700 million in the coming few years, New Delhi’s ambassador in Cairo has said. Ajit Gupte told…
Gulf central banks lift rates as Fed makes second 75-bps hike
Most Gulf central banks lifted their main interest rates by three quarters of a percentage point on Wednesday, moving with the US Federal Reserve as their currencies are pegged to…
Energy-hungry Bitcoin moves into sights of US environmental movement: Reuters
When China banned bitcoin mining last year, it launched a US cryptocurrency goldrush, with states such as New York, Kentucky and Georgia fast becoming major mining hubs, according to Reuters.…
Lebanon disburses funds to temporarily avert bread crisis
BEIRUT, SIDON: Lebanon’s government has agreed to disburse $15 million to temporarily resolve growing bread shortages in the country, Economy Minister Amin Salam told Reuters, while saying that the funds…
Fears growing over who will pay for Lebanon’s bankruptcy
Lebanon and its central bank are bankrupt, according to the country’s deputy prime minister. The “state is bankrupt … so is the Banque du Liban,” Saadeh Al-Shami said on Monday,…