Economy News

Global markets were rocked after US President Donald Trump escalated his trade offensive with a sweeping set of new tariffs. The move raised levies on Chinese imports from 20% to a staggering 54%, with Japan and South Korea slapped with 24% ...

As the US-China rivalry intensifies, Malaysia sees a unique opportunity to establish itself as a major hub in artificial intelligence (AI) and semiconductors. Austrian tech firm AT&S recently invested $1.8 billion in its new plant in Kulim, Malaysia. Opened in ...

Europe is gearing up to counter a major wave of tariffs from the United States, promising robust retaliation if necessary. With U.S. President Donald Trump poised to unveil sweeping tariffs on steel, aluminum, and cars on April 2—a day he's ...

The odds of a US recession have jumped as President Trump’s trade war heats up, according to Goldman Sachs. The bank now sees a 35% chance of a downturn within a year—up sharply from its earlier prediction of 20%. Goldman also ...

Germany has responded sharply to the United States’ planned 25% tariff on imported passenger cars and light commercial vehicles, warning that the move could disrupt global trade and damage key economic sectors on both sides of the Atlantic. Set to take ...

The UK government is set to announce fresh spending cuts in Wednesday’s Spring Statement as Chancellor Rachel Reeves grapples with rising borrowing costs, weakening growth, and a shrinking fiscal buffer. Since the Autumn Budget, bond yields have risen by 20–40 basis ...

The Bank of England (BOE) has maintained its benchmark interest rate at 4.5%, a decision widely expected by market observers. However, the central bank issued a cautious warning about intensifying global trade uncertainties, driven largely by ongoing tariff disputes, notably between ...

The Bank of Canada cut its key policy rate by 25 basis points to 2.75%, citing mounting inflationary pressures and weaker growth tied to trade uncertainty and new tariffs from the United States. Governor Tiff Macklem stressed that the bank would ...

Recession concerns deepened as escalating trade tensions between the US, China, and Canada triggered a notable selloff on Wall Street. The Nasdaq plunged 4% on Monday, its largest single-day loss since 2022, erasing $1.1 trillion in market value. The S&P 500 ...

Turkey’s central bank lowered its benchmark interest rate by 2.5 percentage points to 42.5% on Thursday, marking its third consecutive cut. The move follows a decline in annual inflation, which fell to 39.1% in February from 42.1% the previous month, its ...

President Donald Trump’s decision to impose 25% tariffs on imports from Canada and Mexico, alongside doubling duties on Chinese imports from 10% to 20%, has triggered immediate retaliation. China responded with a 15% tariff on key US agricultural products like wheat, ...

US stocks tumbled after Walmart, the world’s biggest retailer, warned that 2025 could be a rough ride. The company expects sales growth to slow as consumers pull back, raising concerns that spending—the backbone of the US economy—may be running out ...

The UK’s inflation rate surged to 3% in January, exceeding analyst forecasts of 2.8%, as reported by the Office for National Statistics. Core inflation, stripping out energy, food, alcohol, and tobacco, climbed to 3.7%, up from 3.2% in December. The increase ...

Malaysia’s economy grew 5.1% in 2024, driven by strong investment and household spending, despite a slowdown in the commodities sector. The country’s central bank reported that GDP expanded by 5% in the fourth quarter, slightly lower than the 5.3% growth ...

The European Commission has wasted no time in responding to the latest trade policy shift from Washington, vowing swift and firm action against the newly announced US reciprocal tariffs. The US move, which the EU executive described as unjustified, marks ...