Economy News

Spain's Deoleo, the largest producer of olive oil globally, and the owner of renowned brands like Bertolli and Carbonell, is facing a complex operating landscape shaped by climate change, rising prices, higher interest rates, and robust inflation which are affecting ...

In a move to support civil servants amidst economic fluctuations, Malaysian Prime Minister Anwar Ibrahim has introduced a substantial pay raise of over 13%, a historical high, which will be effective from December. This announcement comes as Malaysia faces several economic ...

In a significant development in China's smartphone market, Huawei is rapidly regaining its position and is now close to overtaking Apple in its home market. In Q1, Huawei witnessed an impressive 70% surge in smartphone sales, while Apple faced a decline ...

Christine Lagarde, President of the European Central Bank (ECB), has said that the ECB may reduce interest rates regardless of the US Federal Reserve's actions. She made these comments during a discussion at the International Monetary Fund's spring meetings held ...

China's economy showed a robust performance in Q1 2024, with a year-on-year GDP growth of 5.3%, surpassing the predicted 4.6% growth, and marking an improvement from the previous quarter's 5.2% growth. This early-year surge was primarily fueled by significant advancements in ...

In the first quarter of the year, Singapore's economic growth was 2.7% compared to the same period last year. This was below the initial forecast of 3.0% growth. Although this performance was slightly better than the previous quarter, it was ...

The European Central Bank (ECB) has hinted at easing monetary policy in the near future, signaling a potential reduction in interest rates despite the uncertainty surrounding the Federal Reserve's actions in the United States. Maintaining interest rates at a consistent 4% ...

Copper prices have surged to unprecedented levels, with May delivery prices reaching $4.323 per pound in New York. This surge, which follows a peak in June 2022, is a continuation of a robust upward trend. The momentum was further demonstrated, ...

As part of efforts to retain a leading global position in cutting-edge semiconductor chips, South Korea has announced a comprehensive investment plan amounting to $7 billion dedicated to artificial intelligence technologies by 2027. This ambitious drive is aimed at ensuring the ...

Gold prices have surged to new heights, with spot gold reaching $2,342 per ounce and peaking at $2,353, driven by strong U.S. economic data and ongoing geopolitical tensions. This continued uptrend comes as the precious metal is increasingly seen as ...

Thailand's growth is lagging against its Southeast Asian rivals. The region is showing marked resilience post-pandemic, with countries like Indonesia, the Philippines, and Vietnam posting over 5% economic growth. Malaysia, a key economy in the bloc, has seen a 3.7% ...

Step aside Nvidia, the hottest trade of 2024 is shaping up to be a commodity: cocoa. In an unprecedented surge, cocoa futures have soared, more than doubling since the start of the year and recently surpassing an all-time high of ...

The recent surge in gold prices to an all-time high of $2,203 per ounce, with forecasts suggesting a potential rise to $2,300, underscores a remarkable trend in the global economy. The rally, powered by a combination of strong physical demand, central ...

In a monumental shift in monetary strategy, Japan has bid farewell to its negative interest rate policy, a move signaling the end of an aggressive monetary easing era aimed at combating chronic deflation. This departure from a policy set in place ...

India has set its sights on becoming one of the top five global semiconductor producers within the next five years. The country plans to gatecrash the global semiconductor value and supply chains, amidst increasing efforts to reduce reliance on China ...