The Oil and Gas Regulatory Authority (Ogra) is likely to recommend a hike in petroleum products prices in Pakistan due to an increase in global oil rates and depreciation of the rupee against the US dollar, with petrol expected to increase by Rs12 per litre and diesel by Rs14.83 per litre from September 1, 2023, leading to concerns of further inflation in the country.
India's ban on exporting non-basmati white rice due to rising prices has sparked fears of global food inflation and led rice-dependent countries to seek exemptions, potentially impacting the livelihoods of farmers and causing market reverberations.
Vietnam's exports have declined for the sixth consecutive month due to weaker global demand and China's deteriorating economic outlook, posing a risk to the country's GDP growth target.
Germany's economy experienced a revival and became a manufacturing powerhouse during the era of globalization.
US President Joe Biden will discuss various global issues, including the social effects of the Russia-Ukraine war and climate change, at the G20 Summit, reaffirming the US commitment to the forum as the premier platform for economic cooperation, according to White House press secretary Karine Jean Pierre.
Japan may be reaching an inflection point in its battle with deflation as price and wage rises broaden, potentially leading to an end to prolonged stagnation and a phase-out of fiscal and monetary support, according to the government's annual economic white paper.
Japan's battle with deflation may be coming to an end as price and wage rises show signs of broadening, signaling a turning point in the economy's long-standing stagnation, according to the government's annual economic white paper.
China's factory activity is expected to contract for a fifth consecutive month in August due to weak demand, posing challenges to the country's economic recovery.
Chinese stocks initially surged on Monday after the government implemented measures to boost investor confidence, but most of the gains were lost by the end of the session due to concerns about the country's economic slowdown and the foreign outflow of funds.
A post-pandemic global economy characterized by record levels of government debt, geopolitical tensions, and weak productivity gains may lead to a slow-growth future that hinders development in some countries even before it begins, as discussed at a symposium organized by the Kansas City Federal Reserve.
India's low female labor-force participation rate is attributed to weak job creation and a conservative culture that confines women to the home, hindering progress despite recent small gains in the percentage of women in the workforce.
Chinese stocks rebounded briefly after Beijing implemented measures to halt the slide, but foreign investors used the opportunity to unload $1.1 billion of mainland Chinese equities, reflecting ongoing nervousness about holding capital in China.
Thousands of protesters in Colombia's main cities reject recent gasoline price hikes that make it harder for small businesses to operate and could increase food prices, while the government argues that subsidies must be eliminated to pay debts and fund social programs.
The federal oversight board managing Puerto Rico's finances has reached an agreement with bondholders to reduce the island's power company's debt by 80%, in an effort to end the lengthy process of restructuring and provide reliable energy to support Puerto Rico's economic growth and stability; however, this may result in a rise in electric bills for consumers.
China's economic downturn is not as severe as many people believe, according to Nicholas Lardy of the Peterson Institute for International Economics.
Personal finance expert Dave Ramsey warns against adjustable-rate mortgages (ARMs), calling them a "ticket to foreclosure" and criticizing organizations like Experian for promoting them to keep people in debt. Ramsey explains that ARMs involve a "bait-and-switch" mechanism and can quickly become unaffordable if interest rates rise, leading to default and foreclosure. He believes that banks prioritize their own interests over the welfare of borrowers.
China's shadow lending industry is facing significant challenges as weak economic growth and a wave of defaults and restructurings in the property sector threaten the stability of trusts, leading to concerns of contagion and further economic problems.
The US housing market may be broken due to the Federal Reserve's aggressive interest rate hikes, which have driven up mortgage rates and negatively impacted both supply and demand, according to economist Mohamed El-Erian.
Concerns of a stock market crash are growing as economists await the release of the second-quarter GDP report, which could provide insight into the impact of the Federal Reserve's rate-hike campaign and future monetary policy changes. The report may have a significant effect on equity markets, which have been sensitive to economic data releases this year.
The BRICS Alliance has expanded its membership to include Saudi Arabia, Argentina, Egypt, Ethiopia, the United Arab Emirates (UAE), and Iran, which will collectively represent 43% of global crude oil production and control a combined 29% of global GDP, leading to potential geopolitical implications and a higher level of economic dominance.
Despite recent efforts to de-dollarize global trade, Indian Oil and Gas Minister Hardeep Singh Puri believes the dominance of the US dollar is unlikely to be threatened by emerging market currencies such as the Indian rupee and China's yuan. Puri stated that while he wishes the rupee to be the lead currency globally, he is also a realist and recognizes the difficulty of replacing the dollar.
The U.S.'s efforts to curb China's military ambitions through economic and technological measures may inadvertently hinder progress in addressing climate change and accelerating the energy transition.
Copper prices may experience a significant price spike over the next three years due to its critical role in electric vehicle batteries and other green energy technologies, making it a potential alternative to oil as the world moves away from fossil fuels.
India has made a historic oil deal with the UAE, purchasing 1 million barrels of oil in rupees instead of US dollars, marking a significant step in the BRICS alliance's de-dollarization efforts.
The BRICS bloc, consisting of Brazil, Russia, India, China, and South Africa, has announced the admission of six new members, including Iran, Saudi Arabia, Egypt, Ethiopia, Argentina, and the United Arab Emirates, to expand its influence in the Global South and establish itself as a counterweight to the G7.
The European Union has returned to a trade surplus after six consecutive quarters of deficit, driven by increased exports of chemicals, machinery, vehicles, food, and drinks, which offset high energy product purchases caused by Russia's war in Ukraine.
The President Tinubu administration acknowledges inheriting a bad economy with high unemployment, but assures Nigerians that it will not rely on borrowing to fix the country and promises transparency and accountability.
U.S. equities rise following comments from Fed Chair Jerome Powell, with 3M and Boston Scientific leading the gains, while Generac Holdings and Micron Technology also see positive movement; Royal Caribbean Group and CrowdStrike Holdings experience declines.
More Americans are moving to Europe, with many seeking to escape the political strife and social issues in the United States, attracted by factors such as better work-life balance, robust social safety nets, and tempting deals for foreigners.
The Economist's latest podcast features articles on China's economy, America's corporate giants, and the challenges of making wine in Palestine.
Shark Tank investor Kevin O'Leary predicts that high interest rates will cause chaos in the US economy, particularly impacting commercial real estate, banking, and small businesses, which make up 60% of jobs in America.
Sanctions on Iran have led to a structural transformation of the economy, benefiting the wealthiest households and increasing inequality, while failing to change the behavior of the targeted government.
US Commerce Secretary Gina Raimondo visits China to strengthen business ties while emphasizing that national security trade measures are not up for debate, amid tensions over access to advanced semiconductors and trade restrictions.
The expansion of BRICS to include Iran, Saudi Arabia, Egypt, Ethiopia, Argentina, and the United Arab Emirates will make the bloc represent 46 percent of the world population and 37 percent of global GDP, but China's economic dominance within the group raises questions about whether it will truly be an "equal partnership."
Germany's economy is in a recession, with zero growth since the third quarter of 2022 and a cumulative drop of 0.5% in GDP, which is likely to continue for another half year, impacting other European economies; the country's poor performance can be attributed to its energy policy and investors are also affected.
Canada's immigration minister, Marc Miller, has expressed concern over the integrity of student immigration in the country, as cases of fake admissions by agencies threaten the career and future of students; however, he believes that putting a hard cap on student intake is not the only solution.
Daily Kos is encouraging people to get involved in the upcoming elections and expressing solidarity with the Black community.
The Indian government's efforts to control food prices, such as imposing taxes and export bans, may help contain inflation domestically but could lead to higher prices globally, particularly for rice, affecting countries that rely on food imports.
Russian President Vladimir Putin will not attend the G20 Summit in New Delhi and will be represented by Foreign Minister Sergey Lavrov, according to a telephonic conversation with Indian Prime Minister Narendra Modi, where they also discussed bilateral cooperation and regional and global issues.
China's economy is facing challenges, with youth unemployment at a record high, mismatched skills in the job market, and the risk of falling into the middle-income trap, jeopardizing President Xi Jinping's goal of turning China into a high-income nation.
The BRICS alliance has inducted six new countries, including Saudi Arabia, the United Arab Emirates, Argentina, Egypt, Iran, and Ethiopia, making it financially stronger and positioning it to challenge the global supremacy of the US dollar, with a combined GDP ahead of that of the United States.
Stocks anticipate Friday's jobs data report, China's economic situation worsens, and oil demand is under pressure due to elevated interest rates and the threat of Tropical Storm Idalia.
Most stock markets in the Gulf ended lower due to a slightly hawkish outlook from the US Federal Reserve, with Abu Dhabi, Qatar, and Saudi Arabia experiencing declines.
China's economic slowdown is causing alarm worldwide, with countries experiencing a slump in trade, falling commodity prices, and currency depreciation, while global investors are pulling billions of dollars from China's stock markets and companies are reporting earnings hits.
The Toronto real estate market remains strong, with prices steadily increasing and supply failing to keep up with demand, leading to higher prices; the best time to buy a house in Toronto is typically in January or August.
Shark Tank star Kevin O'Leary predicts "real chaos" in the US economy within months due to rising interest rates and mortgage costs, which pose a major threat to households and small businesses. O'Leary argues that the neglect of small and mid-sized firms in favor of large companies will lead to a rebalance and potential economic turmoil.
Commerce Secretary Gina Raimondo and her Chinese counterpart have agreed to exchange information on U.S. export controls and establish a working group to discuss trade and investment issues, but no progress has been made on disputes over technology, security, human rights, and tariffs.
The South African rand weakened in response to higher U.S. Treasury yields and concerns over further U.S. interest rate hikes, as stated by Federal Reserve Chair Jerome Powell, which typically has a negative impact on risk assets.
Television faced skepticism in its early days, with doubts about its popularity and ability to replace radio, but it eventually became a beloved and ubiquitous form of entertainment in American homes.
Unions are gaining momentum as workers across various industries threaten strikes and demand better compensation and conditions, with the potential for significant economic losses and impacts on industries such as autos and Hollywood. Meanwhile, U.S. Commerce Secretary Gina Raimondo visits China to discuss trade and investment, and 3M settles a lawsuit over defective combat earplugs for over $5.5 billion. Additionally, the Biden administration is expected to announce the first ten drugs subject to Medicare price negotiations.