Economy News

Japanese consumer inflation slowed in December for the second consecutive month, reaching 2.3%. This marked a decrease from the previous month's 2.5% figure, aligning with market expectations. The year-long cooling trend has seen inflation fall significantly from its 4.2% peak in ...

In 2023, China's economy expanded by 5.2%, aligning with the government's target, despite facing many challenges. The growth, mirroring the same rate in the last quarter compared to the previous year, was described by the National Bureau of Statistics as ...

The International Monetary Fund (IMF) chief, Kristalina Georgieva, warned of the potential risks of artificial intelligence (AI) to job security but emphasized the "tremendous opportunity" it offers to boost global productivity.According to the IMF, AI could affect 60% of jobs ...

Amid a challenging global fintech funding environment, the United Arab Emirates (UAE) emerged strongly, registering a remarkable 92% surge in total investment during 2023. This stands in stark contrast to the global downturn, where fintech investments plummeted by 48% year-over-year ...

Asia-Pacific markets mostly rose this week, rebounding from a sell-off in the previous session, with the Nikkei 225 hitting a 33-year high on the back of gains in tech stocks. The index scaled an intraday peak of 33,969.17, its highest ...

The U.S. economy added 216,000 jobs in December 2023, exceeding expectations and bolstering confidence in the economy's path. The figure significantly surpassed market forecasts, which anticipated 170,000 new jobs, as the Bureau of Labor Statistics reported. Moreover, the unemployment rate ...

The stock market's journey in 2024 began with turbulence, wiping away some of the gains achieved during the year-end rally. The S&P 500 index lost 1.4%, while the Nasdaq Composite and the Dow Jones Industrial Average dropped 2.8% and 0.7%, ...

U.S. crude oil shed more than 10% in 2023, marking its first annual decrease since 2020. Brent crude recorded a 10.32% decrease over the same period. Bearish sentiment prevailed as concerns about oversupply emerged, driven by record production outside OPEC. The ...

Heading into the the new year, U.S. stocks and bonds are showing robust momentum. However, there are stillpotential risks. The year 2023 began with challenges for stocks, including rising interest rates and geopolitical tensions. Despite this, major equity averages ended the ...

In the third quarter of 2023, the US economy showed a slightly slower but still vigorous growth, with GDP expanding at an annualized rate of 4.9%, a modest decline from the previously reported 5.2%. This performance, the strongest in nearly two ...

U.S. stocks experienced a robust week fueled by Federal Reserve Chair Jerome Powell's hints of a potential end to the current rate-tightening cycle and positive sentiments from Treasury Secretary Janet Yellen. The S&P 500, Dow Jones, and the Nasdaq all posted ...

In 2023, Spain and Germany marked a significant milestone in renewable energy, with both countries generating over 50% of their electricity from renewable sources. Spain achieved 50% renewable energy generation, a significant increase from 42% in the previous year, while ...

In a remarkable turnaround, Greece has emerged from the depths of a devastating debt crisis to become a symbol of renewed economic vigor. Once plagued by double-digit unemployment, surging treasury bond yields, and plummeting asset prices, the country has resurfaced ...

In a welcome respite for consumers, gasoline prices in the U.S. have plunged to their lowest levels since mid-2022, propelled by record-breaking domestic oil production. Last Wednesday, the national average price for regular unleaded gasoline stood at $3.12 per gallon, ...

As AI becomes mainstream, the Bank of England's (BOE) Financial Policy Committee is heightening its focus on the systemic risks emerging from AI's expanding presence in the financial sector.The central bank has initiated an official investigation into these concerns, specifically ...