Home / World Economy / World Economy News (page 5)

World Economy News

UAE government’s operating surplus doubles thanks to oil price surge

The United Arab Emirates government’s net operating surplus more than doubled in the first quarter to 36.4 billion dirhams ($9.9 billion) as surging oil prices boosted public revenue, finance ministry data showed on Monday. High oil prices and increased production have been a boon for the UAE’s economy this year, along with a continued recovery from the pandemic’s impact. Government spending in the UAE rose to 87.4 billion dirhams from 73.1 billion dirhams in the first quarter of 2021, a nearly 20% rise. Revenue jumped 39% from a year earlier ...

Read More »

What to watch out for as talks on U.S.-China audit deal drag on

The list of Chinese companies facing delisting risks in New York in a long-running dispute over Chinese audits of their accounts continues to expand with the addition of three more on Friday after e-commerce giant Alibaba’s 9988.HK July inclusion. As talks between Beijing and Washington in search of a resolution drag on, U.S. regulators and politicians have been ratcheting up calls for a resolution, hammering out a message to China that time is running out for both sides to strike a deal. Here’s what you need to know about the ...

Read More »

U.S. recession prospects intensify economic pressure on Africa, says expert

The drop in U.S. economic productivity for two consecutive quarters has fueled fears that the superpower will enter a recession, while African countries may face more significant economic challenges due to reduced exports and higher financing costs, according to one expert. The looming recession in the United States means that market demand is shrinking. The exports of developing countries, including African countries, to the U.S. market are expected to be affected, Charles Onunaiju, director of the Abuja-based Center for China Studies in Nigeria, told Xinhua in a recent interview. Meanwhile, ...

Read More »

Euro zone investor morale edges up, recession still likely – Sentix

Investor morale in the euro zone was essentially unchanged in August from the previous month, with a slight rise too little to stave off fears of recession in the 19-country currency bloc, a survey showed on Monday. Sentix’s index for the euro zone inched up to -25.2 points from -26.4 in July. A Reuters poll had pointed to an August reading of -24.7. “The economic situation in the euro zone remains difficult,” Sentix Managing Director Manfred Huebner said in a statement, adding the slight rise did not signal the all-clear. ...

Read More »

QNB expects global economy will avert recession

QNB dedicated its weekly commentary to assess the risk of recession for the global economy, saying that the likelihood of a recession remains unclear despite increasing predictions that the global economy will slowdown. The note focused its analysis on the US, Euro area, and the rest of the world in its bid to assess whether a global recession was likely. It said that, assuming no further increases in energy prices, the global economy can grow at a 3 percent rate, driven by China and the rest of the world. The ...

Read More »

China to help stabilize global supply chain

China will play a key role in underpinning the global supply chain in the second half of the year amid government policy measures to stabilize the economy while tackling the impact of COVID-19 via targeted means, experts said. Although major economies such as Germany, France, South Korea and the United States saw trade deficits in recent months, the surplus of China’s foreign trade topped 2.48 trillion yuan ($367 billion) in the first half, as exports soared after the COVID-19 resurgences were brought under control in the Yangtze River Delta region ...

Read More »

How can our perception of the world impact positive change?

The world is awful. The world is much better. The world can be much better. All three statements are true at the same time. Discussions about the state of the world too often focus on the first statement: The news highlights what is going wrong, rarely mentioning any positive development. A pushback on this narrative takes it to the other extreme, which is equally damaging. Solely communicating the progress that the world has achieved becomes unhelpful, or even repugnant, when it glosses over the problems that are real today. It’s ...

Read More »

How to respond to food and energy shortages – a short guide for policymakers

Ensuring an adequate supply of food at an affordable price has always been a fundamental responsibility of the state and in recent centuries that responsibility has extended to energy as well. A government that cannot ensure the steady supply of food and energy at prices its citizens can afford to pay is likely to face political and social unrest and unlikely to remain in power for long. Because they threaten the stability of the state, famines and fuel shortages have always been a special concern for the ruling class. Corn ...

Read More »

China’s exports gain steam but outlook cloudy as global growth cools

China’s export growth unexpectedly picked up speed in July, offering an encouraging boost to the economy as its struggles to recover from a COVID-induced slump, but weakening global demand could start to drag on shipments in coming months. Exports rose 18.0% in July from a year earlier, the fastest pace this year, official customs data showed on Sunday, compared with a 17.9% increase in June and beating analysts’ expectations for a 15.0% gain. Outbound shipments have been one of the few bright spots for the Chinese economy in 2022, as ...

Read More »

Global current account balances widen amid war, pandemic

The lingering pandemic and Russia’s invasion of Ukraine are dealing a setback to the global economy, impacting current account balances of countries, says an IMF report. The crises are affecting trade, commodity prices, and financial flows, all of which are changing current account deficits and surpluses, said the report. Global current account balances — the overall size of deficits and surpluses across countries — are widening for a second straight year, according to IMF’s latest External Sector Report. After years of narrowing, balances widened to 3 percent of global gross ...

Read More »

The blue economy is a historic opportunity. Here’s how we seize it

When it comes to the Ocean, the 20th century’s “extract and earn” philosophy is finished. Widespread plastic pollution, depleting resources, acidifying waters and expansive dead zones mean we must forge a new path. The only way forward is circular and sustainable. But going sustainable does not have to mean foregoing profits or return on investment (ROI). The sustainable blue economy has enormous untapped economic potential. Already, the world has started taking notice. For example, the United Nations’ Sustainable Blue Economy Investment Forum (SBEIF), hosted by the governments of Portugal and ...

Read More »

If Germany falls into recession, businesses could jump ship

For the fifth month in a row, German factories received fewer orders for their products. In June, orders fell 0.4% compared with May. Though a minor decline at first glance, that adds up to a 5.6% decrease for the second quarter of 2022. Because of the bottlenecks in global supply chains, German industries still have a high order backlog, but not enough to protect them from the upcoming economic hardship, Commerzbank chief economist Jörg Krämer told DW. “The risk of a recession is increasing,” Krämer said. That sentiment is shared. ...

Read More »

PE Secondaries a Growing Liquidity Source Amid Market Dislocation

Private equity (PE) exit activity should slow in 2H22, given the more challenging market backdrop for monetizing assets. Still, amid ongoing volatility and less accommodative public markets, the secondary market is expected to serve as a more meaningful source of liquidity for alternative investment managers (IMs), Fitch Ratings says. Secondary transactions, within the same general partner (GP) or between GPs, may allow alternative IMs to provide increased liquidity to limited partners (LPs), maximize the value of underlying investments and extend management fee generation capacity, which can all be incrementally positive ...

Read More »

BoE being goaded into ‘scorched earth’ policy :Mike Dolan

Torn between inflation and recession, the Bank of England is being pushed hard by a UK government-in-flux into a scorched earth monetary policy now and possibly an equally dramatic and unnerving U-turn next year. Foreign Minister Liz Truss, overwhelming favourite to replace Boris Johnson as Prime Minister next month, plans looser fiscal policy via largely unfunded tax cuts in an “emergency budget” – a plan many fear could force the central bank into an overburdened solo effort to rein in raging prices as the economy heads into a long recession. ...

Read More »

Fed Chair Powell had flurry of policymaker meetings a day before June rate decision

U.S. Federal Reserve Chair Jerome Powell had a flurry of activity with his rate-setting colleagues one day before the central bank’s June policy meeting, when it pivoted last-minute to a larger-than-expected interest rate hike. Powell met with two regional Fed bank presidents and three board members on Monday, June 13, his monthly schedule published on Friday shows, including a virtual meeting with a member of the Fed Board of Governors for just 10 minutes that day at 3 p.m. (1900 GMT). The Fed’s policy meeting was held June 14-15, with ...

Read More »

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping