Job ads in Australia have dropped by 2.8% from January to February, indicating the potential for a rise in unemployment rates, with the technology sector experiencing the highest losses and healthcare and education fields seeing an increase in job listings due to a shortage of essential workers.
The Pakistan government is prioritizing the China Pakistan Economic Corridor (CPEC) as it seeks to expedite the flagship program aligned with China's 'Belt and Road' vision to diversify and enhance manufacturing, agriculture, and technology for sustainable growth and prosperity, while also working to repair ties and regain trust with China.
The IMF has recommended that Pakistan bring several items under the standard rate of General Sales Tax in order to increase revenue collection, but it has not assessed how this would impact inflation; the rationalization of GST rates could potentially generate Rs1,300 billion in revenue for the country.
The value of State-guaranteed debt, which will be repaid by taxpayers in the event of default, increased by 7.5% in the six months to December 2023, driven by the depreciation of the Kenyan shilling against the US dollar, with the majority of the debt being borrowed by Kenya Airways (KQ).
China has purchased over 20 cargoes of feed grain from international suppliers, taking advantage of low prices, with shipments including corn, sorghum, and barley from Ukraine and the US.
U.S. oil and gas production reached new seasonal records in December 2023 despite falling prices and increased inventories, with crude production increasing by 10% and gas production doubling since 2006 due to streamlined work practices and concentration on promising sites.
The number of people classified as not seeking work due to health issues has increased by one-third since before the Covid-19 pandemic, highlighting underlying trends that have been clear for decades and a need for address in Jeremy Hunt's budget.
Japan's government is considering declaring an end to deflation as rising prices suggest a break from the two-decade-long economic slump.
China's annual growth rate for 2024 is expected to be set at around 5%, a challenging target for a government facing economic challenges.
The Chinese government is facing pressure to address its troubled economy as the National People's Congress begins, with analysts closely watching for any changes in official Party line and potential solutions to the real estate crisis and high unemployment rates in the country.
The government of Thailand is pressuring the Bank of Thailand to cut interest rates due to concerns about slowing economic growth, but the central bank and some economists argue that a rushed rate cut may not have the desired impact and could pose risks to macro-financial stability.
London's economy is expected to continue growing at a faster rate than the rest of the UK, deepening the regional divide, despite government promises of leveling up, according to a report by EY. The report forecasts stronger economic growth for London and the south-east, while other regions, such as the north-east of England, Wales, and Scotland, will see slower growth. The report highlights the geographic inequalities and concentration of high-growth sectors in certain areas that contribute to the regional divide.
Chancellor Jeremy Hunt's budget measures from 2023, which included promises on growth, inflation, childcare, and support for pubs, have had mixed results, with the economy entering a recession, inflation halving but still remaining high, beer prices rising despite relief measures, and concerns about technical glitches and staff shortages affecting the delivery of free childcare. However, business investment has seen a slight increase.
The African share of global trade remains low at less than three percent, with African nations trading more with countries outside the continent than with each other, despite progress in regional integration and the establishment of the African Continental Free Trade Area.
The Bank of Canada is expected to maintain its current interest rates despite falling inflation, as it remains cautious about the timing of future rate cuts to avoid potential economic downturn and fueling the real estate market, but analysts anticipate rate reductions to begin around the middle of the year.
China is expected to announce a 2024 growth target of around 5% at the National People's Congress, with a focus on supporting the slowing economy through fiscal stimulus, new economic drivers, and boosting consumption.
Asian markets are expected to have a strong start to the week due to the resilience of the US economy, cooling inflation, and a frenzy in big tech, while investors' attention will turn to China as the annual National People's Congress opens, where plans for economic growth and targets will be laid out.
Former IMF official, Desmond Lachman, warns that the US Federal Reserve's tight monetary policy and low liquidity are pushing the country towards a banking crisis, with commercial real estate posing a significant risk to small and medium-sized banks.
America's $34 trillion debt could disrupt the global economy next year if the next president pursues expensive policies, warns finance expert Joao Gomes, posing a potential crisis by 2025.
Jeremy Keyton, a musician from Canada, gained attention online for his cover of the Barenaked Ladies song "If I Had $1,000,000," where he changed the lyrics to reflect the current economic climate and adjusted for inflation, highlighting the high cost of living in Canada.
The price of petrol in Cuba has increased by 500% as part of an economic stabilization plan, causing concern for the already struggling Cuban population.
Fed Chairman Jerome Powell will testify before Congress this week, where he may face pressure from Democrats to cut interest rates and Republicans to combat inflation; economists also expect the labor market to cool in February and are raising their forecasts for first-quarter GDP.
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The share of imported coal in India's overall consumption has decreased to 19.3%, leading to significant forex savings and reduced reliance on foreign coal due to increased domestic production and government reforms.
Australian consumers are losing a total of $960.26 million per year in surcharges when paying with cards instead of cash, according to data from the RBA, with businesses passing on payment costs to customers as small businesses struggle to absorb the costs themselves; however, the adoption of an initiative called least-cost routing (LCR), which would lower payment costs for businesses and result in smaller surcharges for consumers, remains disappointingly low at just 64% of business terminals enabled with LCR so far.
Federal Reserve Chair Jerome Powell is expected to emphasize that there is no urgency to cut interest rates, despite persistent inflation pressures.
China's senior economists, trade experts, and business leaders anticipate a strong economic recovery this year, driven by macroeconomic policy adjustments, reform, and opening-up measures, while dismissing Western media claims of worsening economic prospects; they believe that China will remain a key growth engine for the global economy based on its solid long-term economic fundamentals, presenting golden business opportunities for foreign investors.
The Minority in Parliament expresses concern over the potential collapse of Ghana Cocoa Board (COCOBOD) due to heavy debts, while also disputing President Akufo-Addo's claim on rice imports declining in Ghana.
The Chinese People's Political Consultative Conference (CPPCC) is expected to prioritize economic issues such as market confidence, private sector growth, and youth employment at its annual session, as spokesman Liu Jieyi highlighted the country's economic prospects and vowed to support young people in finding work and clearing hurdles to private sector development.
Mauritius, Libya, and Botswana are among Africa's wealthiest countries based on their GDP per capita, according to a recent list by the IMF, while Nigeria is left out.
Jefferson County in Alabama saw nearly 1,000 new jobs added last year, with plans to bring in even more in the near future, according to the county's economic development advisor.
Turkey's annual inflation is expected to reach a 15-month high due to a minimum wage hike and higher food prices, placing pressure on the central bank which has recently ended interest rate hikes.
Indian farmers are planning to march to New Delhi to demand higher crop prices and guarantee state support or a minimum purchase price for their produce.
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Pakistan's new prime minister, Shehbaz Sharif, must address economic instability, rising militancy, political tensions, and water scarcity to tackle the country's numerous challenges.
The Federal Reserve is expected to cut interest rates, though potentially later and less dramatically than initially anticipated, with economic developments this week, including testimony from Fed Chair Jerome Powell and reports on service sector activity and employment growth, providing clarity on the outlook; the service sector, which makes up 80% of the economy, needs to continue expanding without driving up prices sharply, and job openings, hires, and quits should be stable to moderate pay increases and inflation.
Qatar is set to control about a quarter of the world's liquefied natural gas (LNG) supply by the end of the decade, with plans to increase its capacity by 13% and boost its output to 142 million tons by 2030, potentially adding $31 billion to annual revenue. This expansion will significantly increase Qatar's influence and wealth, making it one of the richest nations even richer.
Rent costs, which have been a driving force behind inflation, are actually cooling significantly or even falling according to data from Apartment List, but this trend is not reflected in official inflation reports, causing confusion among economists and policymakers.
Former Chancellor Lord Norman Lamont has defended the UK's exit from the European Union, stating that it has had no damaging effect on the British economy and trade statistics are back on trend, despite negative predictions from Remainers.
Despite experiencing losses for half a decade prior to the Covid-19 pandemic, El Al, Israel's largest airline, saw a significant turnaround and increased profitability during the pandemic due to a decline in competition, resulting in higher fares and a strong fourth quarter financial performance. However, as foreign airlines gradually return to Israel, El Al's dominance is expected to decrease and prices may decrease as competition resumes.
The decline in savings and investment behaviors in Ghana, coupled with economic challenges such as inflation and currency depreciation, highlights the importance of prioritizing financial prudence, embracing frugality, and making informed decisions to secure future financial well-being and contribute to the nation's economic recovery.
British chef and TV presenter Rosemary Shrager, known for her appearances on various cooking shows, discusses her property experiences throughout her life, including downsizing to a modern home that she loves in Wadhurst, East Sussex.
Rahul Gandhi highlights the high unemployment rate in India compared to Pakistan and Bangladesh, attributing it to the economic policies of the Modi government and emphasizing economic inequality and monopoly in various sectors.
Saudi Arabia is preparing to host LEAP 2024, the world's largest tech event, which will feature over 1,000 companies, 1,800 exhibitors, and 1,000 expert speakers discussing topics such as artificial intelligence, fintech, and smart cities.
US billionaire Kyle Bass received criticism after complaining about an $85 breakfast bill in a New York City hotel, citing terrible inflation and tagging US President Joe Biden, Secretary Janet Yellen, and the Federal Reserve System in his tweet.
India is reducing China's dominance in electronics exports in key markets by diversifying supply chains to other parts of Asia.
The US government is projected to spend nearly a trillion dollars this year just on interest payments for its record-level debt, exceeding its budget for national defense and becoming the second-largest government expense.
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India has reportedly eliminated extreme poverty, as per a report by The Brookings Institution, which attributes this achievement to the country's rural growth and government redistribution policies.
The COVID pandemic has resulted in significant changes in Australians' spending habits, including increased spending on food, grooming, and domestic holidays, while reducing spending on clothing, public transport, and international holidays, according to the Australian Bureau of Statistics.
Punjab and Balochistan have the highest gaps between actual market prices and prices set by district administrations for essential food items, indicating issues of governance in price control, while Lahore and Sargodha have the lowest gaps in Punjab, and Quetta has the highest gap in Balochistan, according to the Pakistan Bureau of Statistics.
