Canada's second-quarter GDP report is expected to show a significant slowdown in economic growth, potentially leading the Bank of Canada to pause its interest rate hikes despite recent inflation data.
Israel has the highest cost of living among all OECD nations, but the comparison to the OECD average is misleading due to the strengthening of the shekel, and next year's numbers are likely to look better due to the shekel's devaluation, which will make prices appear lower in international currencies. The real issue lies in the affordability of consumption baskets relative to median incomes and the neglect of vital infrastructure, such as education and transportation, which contribute to low incomes and high prices. The State Comptroller report highlights the escalating cost of living in crucial sectors like the dairy industry and the real estate market, with significant price increases and housing shortages.
India, the world's biggest exporter of rice, has imposed more restrictions on rice exports in an effort to prevent smuggling and cool local food prices ahead of a general election, further squeezing global supplies of the staple grain.
Türkiye's record-breaking number of tourists in July is expected to help reduce the country's current account deficit, according to a senior government official, due to the surge in tourism revenue and a slowdown in consumer loans.
China Evergrande Group, the world's most-indebted property developer, reported a narrower net loss for the first half of the year due to increased revenue, amid a crisis in China's property sector caused by debt defaults and unfinished homes.
The US economy is expected to slow in the coming months due to the Federal Reserve's efforts to combat inflation, which could lead to softer consumer spending and a decrease in stock market returns. Additionally, the resumption of student loan payments in October and the American consumer's credit card addiction pose further uncertainties for the economy. Meanwhile, Germany's economy is facing a contraction and a prolonged recession, which is a stark contrast to its past economic outperformance.
Security arrangements have been stepped up in Haryana's Nuh as preparations continue for a religious Shobha Yatra called by Sarv Jatiya Hindu Mahapanchayat, despite police denying permission.
Oklahoma Governor Kevin Stitt is advocating for cutting state income and grocery taxes in order to provide relief for residents and make the state more business-friendly.
India's education and skill development minister, Dharmendra Pradhan, highlighted the nation's commitment to global well-being and its role as a laboratory for promoting common good during his address at the B20 Summit, emphasizing the importance of education and India's strengths in democracy, diversity, and critical sectors such as energy and agriculture.
Sinopec's first-half profit drops by 20% due to China's slowing economy impacting fuel demand.
The COVID-19 pandemic has had a significant impact on Butler County's property values, with a projected 37% increase next year, potentially leading to a rise in foreclosures and evictions for vulnerable residents. Additionally, other economic indicators such as new home building permits and property tax collections have been affected. While personal income has increased, inflation remains a concern. However, the county has fared relatively well with sales tax revenue and government funding injections supporting the economy.
Indian Prime Minister Narendra Modi warned that there is a risk of a "new model of colonialism" if nations with critical minerals do not see it as a global responsibility, as the race to secure resources for energy transition goals intensifies. Modi emphasized the need for cooperation in the face of uneven geographical diversification and export restrictions imposed by countries like China.
BRICS is considering making local currencies the only accepted form of payment for oil and gas settlements, which could potentially shift global power from the West to the East.
Israel's high cost of living, which surpassed Switzerland, can be attributed to the balance of payments and influx of foreign currency in the high-tech sector, according to a Hebrew University expert.
The US's grip on the global economy was demonstrated at the Jackson Hole gathering, while the Johannesburg gathering of the Brics countries showed a challenge to America's dominance, highlighting tensions between the US and emerging market countries and the potential shift in the international financial system.
Saudi Arabia's Vision 2030 plan aims to transform the economy, improve citizens' lives, and maintain global prominence through ambitious projects like Neom's $1 trillion megacity known as The Line, but the success of the plan is uncertain and could pose challenges in terms of social tensions and regional competition.
China has halved the stamp duty on stock trading in an effort to boost the struggling market, but analysts predict that the impact will only be short-term.
Emerging markets are facing challenges due to the Federal Reserve's efforts to combat inflation and China's economic slowdown.
The strong U.S. economic growth and potential rate hikes by the Federal Reserve could pose global risks, potentially leading to a significant tightening of global financial conditions and affecting emerging markets and the rest of the world.
Global inflation pressures could intensify in the coming years due to rising trade barriers, aging populations, and the transition to renewable energy, posing challenges for central banks in meeting their inflation targets.
Israel has the highest cost of living among OECD countries, with price levels 38% higher than the average, according to a report from the OECD.
China's stock market is on the verge of a meltdown as major property developers collapse, while Wall Street is booming due to renewed interest in tech stocks, posing a potential threat to the UK as it gets caught in the crossfire.
Israel was named the OECD country with the highest cost of living in 2022, with prices 38 percent higher than the average for OECD countries. However, in a more recent monthly study, Israel fell to fourth place in terms of the cost of living.
Fiona Scott-Morton, an American economist, turned down the role of chief competition economist at the European Commission due to concerns raised by the French government about her nationality, sparking a diplomatic furore surrounding the appointment.
Reduced rainfall and extreme temperatures caused by the El Niño weather event and climate change are predicted to damage Thailand's economy, increase poverty, and impact the country's agricultural competitiveness.
China needs to fully utilize policy space to bolster economic growth and market expectations by making significant adjustments in fiscal and monetary policies, according to a senior economist and political adviser. The economist emphasizes the importance of sending strong signals to the market and considers options such as interest rate cuts, increased deficit-to-GDP ratio, and infrastructural improvements to address economic challenges caused by global demand stagnation and tightened US monetary measures.
A Rajshahi-based exporting organization has successfully sent gourmati and katimon varieties of mangoes to Russian markets, marking the first venture of exporting Rajshahi's mango to Russia.
Consumer prices in Korea are expected to increase to the 3 percent range in the coming months due to a rise in international oil prices, but are projected to fall back to the 2 percent range in October.
Fiona Scott-Morton, the American economist who declined a top job in Brussels following backlash from Emmanuel Macron, criticizes France's "insecure" and xenophobic comments about her appointment, stating that her nationality should not influence her approach to regulating US tech giants. She also warns that political meddling in technical appointments is detrimental to the independence of the European Commission and hampers its ability to promote competition and protect consumers.
Britain's experience with quantitative easing (QE) and monetary policy has had both positive and negative impacts, with the unnecessary prolonged period of cheap money causing damage, the kamikaze printing of money during the pandemic feeding inflation and leaving taxpayers with a large bill, but also some good news as inflation is expected to decelerate and boost spending power as real incomes rise, although second-round effects could ensure inflation's persistence. The UK economy is weak and policy should focus on averting recession and challenging consensus-thinking on future growth, as the country's composite Purchasing Managers Index (PMI) has fallen to a 31-month low, with the services sector slipping into recession and a slump in retail sales in August. Higher interest rates are causing corporate distress, suggesting the need to stop raising rates, while elevated policy rates and selling of gilts by the Bank of England will keep upward pressure on long-term yields and borrowing and mortgage rates. The expectation of positive real interest rates signals the end of cheap money and offers an opportunity in Britain to rethink fiscal and supply-side policy, encouraging investment, innovation, competitiveness, and improved skills. Overall, the outlook is characterized by falling inflation, weak growth, and the opportunity to reset monetary policy and focus on fiscal policy, the supply side, and investment.
Profits at China's industrial firms fell 6.7% in July, marking the seventh consecutive month of decline, as weak demand continues to hinder the country's post-pandemic recovery.
South Korean protesters demand government intervention to prevent potential environmental damage from Japan's release of treated radioactive water from the Fukushima nuclear power plant into the sea.
India's External Affairs Minister, S Jaishankar, highlighted the importance of addressing the concerns of the global south in promoting economic growth and development during the B20 Summit, stating that India recognized the absence of the global south's voice in the G20 and took steps to rectify this by convening the Global South Summit.
India's digital public infrastructure, including Aadhaar and the unified payments interface, has transformed the country's informal sector economies into one integrated mega economy, achieving financial inclusion in just 9 years instead of the traditional 47 years, according to Infosys Chairman Nandan Nilekani.
The Covid-19 pandemic and other factors have led to the closure of many pubs in Ireland, with one in five pubs closing since 2005 and an increasing rate of closure. Rising costs, staff shortages, and the trend of drinking at home have contributed to the decline of the pub trade.
New Zealand's housing agency, Kāinga Ora, is facing criticism for spending $312,025 annually on seven Bloomberg computers, which it claims are necessary for managing its debt and financing its housing build program. Critics argue that the agency's spending is emblematic of a bloated bureaucracy and a misuse of taxpayer funds.
Investors will have a lot to consider this week as they analyze economic indicators such as US nonfarm payrolls, wage growth, and inflation, as well as Eurozone inflation numbers and central bank commentary, all of which could impact policy decisions and market sentiment.
Pakistan's recent financial aid and investment partnerships, including with the IMF, Saudi Arabia, UAE, and China, provide temporary relief from economic challenges, but the country must address issues such as low growth, high inflation, unemployment, and limited foreign exchange reserves through deregulation, investment in education and technology, tax reform, privatization, and political stability to achieve lasting prosperity.
The rupee's decline against the US dollar is being attributed to the powerful influence of the grey market and the International Monetary Fund's involvement in Pakistan's financial system, leading to a loss of control over the exchange rate and economic uncertainties.
China's economic policy is being driven by ideology, with leaders hesitant to provide stimulus to the economy out of fear of "welfarism," according to Western experts.
Dr Gohar Ejaz, the caretaker federal minister for Commerce and Industries in Pakistan, is urging textile exporters to focus on value-added products and is pledging extensive assistance to entrepreneurs, including the establishment of business parks to support global trade and achieve the $80 billion export target.
Consumers in Pakistan experienced a sharp increase in sugar and flour prices, causing further financial strain, as wholesalers raised the prices due to illegal channels of sugar export and hoarding, leading to fears of additional price pressures, while flour millers fluctuated prices based on the open market wheat rate.
The article highlights the economic crisis in India in 1991 and draws parallels to the current state of Pakistan's economy, emphasizing the importance of focusing on economic growth and addressing the needs of the deprived sections of society.
President Bola Tinubu's economic team faces the challenge of stabilizing the Nigerian economy and restoring investor confidence amidst a deep fiscal crisis and high debt burden.
Profits at China's industrial firms fell for a seventh consecutive month in July, declining by 6.7% year-on-year, as weak demand and a faltering post-pandemic recovery continue to squeeze companies in the world's second-largest economy.
Yasra Rizvi, a passionate actor, writer, and director, discusses her struggles and determination to do things differently in the entertainment industry despite facing setbacks and a lack of support.
Australian Treasurer Jim Chalmers expresses concern over China's weakening economy and warns of potential implications for Australia's economy due to the countries' trading relationship and diplomatic tensions.
Bank of Japan Gov. Kazuo Ueda explains that price growth is slower than the target of 2%, leading officials to continue their current monetary-policy strategy of easing.
Protests have erupted across Pakistan due to the recent increase in electricity prices, which are causing financial strain on households already dealing with high inflation and stagnant incomes, and the government's inefficiency in reducing transmission losses and indirect taxes is exacerbating the problem.
The Pakistani rupee is expected to continue its decline against the US dollar, with analysts predicting an interest rate hike by the central bank in an attempt to prevent further depreciation.