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The embattled euro has fallen below $0.99 – a new two-decade low – after Russia stopped gas supplies to Europe, heightening fears of a deep energy crisis across the continent.The euro has lost 20% of its value in the past three months. Europe is desp...

Inflation in Turkey is set to climb to above 80% soon, more than 16 times the central bank’s official target. Analysts believe this will leave price expectations of Turkish consumers entrenched at elevated levels for years to come. For most of the ye...

The Japanese yen has fallen to a 24-year low against the dollar as investors brace for higher US interest rates.One dollar is now worth more than 140 yen for the first time since 1998, as the greenback continues its period of strength against most ma...

India, the third-largest economy in Asia, saw its GDP grow by 13.5% in the April-June quarter from a year earlier. This marks the fastest pace of growth in a year and comes amid concerns of growth slowing due to increased interest rates.The increase...

When Western countries imposed a raft of sanctions on Russia earlier this year, after it invaded Ukraine, it was believed these punitive measures would have a devastating effect on the country’s economy.However, results have thus far been mixed. On o...

Power prices in Europe are breaking records, solidifying the sense of crisis in the region, and spreading fears about possible power shortages as winter looms.Power prices in Germany, which usually represent the benchmark for the remainder of the con...

Economic activity in Europe tumbled for a second consecutive month in August, as high inflation fueled by Russia’s war in Ukraine sours the outlook.The S&P Global Flash Eurozone Purchasing Managers Index (PMI) slumped to its lowest level in 18 mo...

Germans affected by Europe’s gas crisis are scrambling to get solar panels installed in their homes and businesses.So far this year, Germany has seen a 22% jump in the installation of solar systems compared with the same period last year. These syste...

US Carmaker Ford is cutting 3,000 corporate jobs as it prepares to shift from traditional internal combustion engine vehicles to electric vehicles (EV).Announcing the news, Ford CEO Jim Farley said, “Building this future requires changing and reshapi...

Europe’s economy is facing the strain of energy rationing, record inflation, and tighter monetary policy. With a round of purchasing managers’ indexes slated to arrive this week, analysts expect to see a contraction in private-sector output for a sec...

Major US retailer Target reported a significant profit decline of 90% in the second quarter, as inflation-hit consumers pulled back on spending on all but the most essential items. Target's quarterly net income fell to $183 million, down significantl...

China's central bank cut interest rates this week for the first time since January, as the economy lost steam due to renewed COVID-19 lockdowns and a brewing property crisis.The People's Bank of China reduced the main rate at which it lends to banks...

After receiving approval from the US Congress, American President Joe Biden is preparing to sign a bill allocating $369 billion for climate and energy funding into law.Investors have not been slow to climb the bandwagon and have already sunk $425.5 m...

US companies added more than double the number of jobs forecast for July, revealing strong labor demand that tempered recession fears and suggested the Federal Reserve will continue to use steep interest rate hikes to combat out-of-control  infl...

Argentina’s new Economy Minister Sergio Massa has pledged to stop printing money that helps fuel runaway inflation. With the country facing a deepening economic crisis, Massa became the third economic minister in a month.  He inherits t...