Economy

The government of Prime Minister Giorgia Melons predicted that Italy's fiscal gap will rise to 5.3% of its gross domestic product in this year. This is higher than the forecasted 5.3%, because of the ballooning costs associated with a…

According to figures closely monitored, the world trade volume fell at its fastest annual rate in almost three years during July. This indicates that rising interest rates is beginning to affect global demands for goods. Trade Volumes…

US lawmakers warned that a shutdown of the government is becoming more likely as hopes for a last-ditch compromise to end a budgetary standoff in the largest economy in the world wane. Both Democrats and Republicans stated on Sunday that…

Last night, the US Federal Reserve held its benchmark interest rates but indicated support for a second rate increase this year. It also signaled fewer rate cuts for next year than had been previously suggested. The Fed funds rate was…

The Bank of England kept borrowing costs constant for the first since November 2021, and the pound fell to its lowest point in six months. Bond yields also rose. Investors sold the pound, pushing it 0.5 per cent down against the dollar,…

After almost two years of rising rates, the Bank of England held its interest rate at 5.25 percent. Investors reduced their expectations of further rate increases after Thursday's decision. After the decision, mortgage rates will also…

The chief executive of Deutsche Bank - the largest lender in Germany - has warned that Germany could become the sick person of Europe, if it does not reinvent itself. Christian Sewing said to an audience in Frankfurt, Germany that…

House prices in Dubai are rising at the fastest pace in the world following an influx of Russian money. High levels of immigration mean average prices in the Gulf emirate have soared by 15pc between mid-2022 to mid-2023 when adjusted for…

According to a senior banker, European defence spending could be more effective if the EU had a permanent ability to raise its debt and provided common funding for investment within the bloc. Fabio Panetta is a member of the board at the…

Andy Haldane warns about the pressures of long term sickness on middle aged workers Former Bank of England chief economist, David Lewis, said that Britain's "sandwich" generation is forced to pay for the inactivity of older and…

According to the majority of academic economists, the US Federal Reserve will surprise investors and raise interest rates at least by another quarter point. Over 40 percent of respondents said they expect the Fed to increase rates at…

Deloitte will cut hundreds of jobs across the UK due to a slowing in demand for advisory services from clients in an economic climate that is more difficult. According to a source familiar with the plans of the accounting firm, it is…

Amid concerns over the state of the public finances, UK ministers may alter the "triple-lock" rule to increase state pensions by less than a 8.5 percent rise in earnings. Officials have said that the government is looking at adjusting…

According to an investor survey closely followed, the Chinese property sector is the greatest threat to global stability. This has fueled a "dramatic" shift away from emerging markets and towards the US. In the Bank of America monthly…

This week, UK officials will welcome 200 companies to Belfast to promote Northern Ireland as a location for investment. The region offers unique post-Brexit market access to the EU and British markets. Lord Dominic Johnson, UK's…

A City bank warned that the transition towards net zero, and pressures from an ageing population could push up tax burdens. BNP Paribas analysts, a French multinational banking company, stated that the spending demands of several…

Beijing mocks US sanctions by advancing chip technology She was firm when Beijing officials begged her to lift the tech sanctions. Raimondo, who recently visited China, told reporters: "Ofcourse I said no." "We do not…

According to the local authority of London's Financial District, the UK should establish a public-private partnerships to oversee an economic growth strategy for financial and professional services and to help secure up to £225bn in…