Section
Economy
IMF Downgrades Its Global Outlook
The International Monetary Fund lowered its global growth forecast to 3% for 2026 due to economic disruptions caused by Iran's closure of the Strait of…
‘Oil capital Aberdeen was the place to be – but now it’s a ghost town’
Aberdeen is facing economic decline due to the shrinking North Sea oil and gas industry, compounded by rising unemployment and business closures since the 2014…
The Great Depression: Crisis and Resilience in America
The Great Depression, triggered by the 1929 stock market crash, led to widespread bank failures, massive unemployment, and severe social hardship across the United States.…
UK families hit by biggest global drop in wealth
British households have seen their wealth decline by over 20% since the pandemic, the largest drop among 37 advanced economies, driven by high inflation and…
Sri Lanka cuts fuel prices, inflation rises
Sri Lanka’s state-owned Petroleum Corporation reduced petrol and diesel prices by up to six percent on July 1, the first cut since fuel costs surged…
China retail sales sink for first time in three years
China's retail sales fell 0.6 percent year-on-year in May, marking the first decline in over three years amid ongoing investment slumps and economic challenges. This…
Strait peace pours oil on RBA’s troubled waters
The US and Iran have agreed to reopen the Strait of Hormuz, a vital oil shipping route, which has led to lower oil prices and…
Producer Prices Spike, Fueled by Rise in Oil Costs
U.S. producer prices rose sharply in May, with a 6.5 percent increase driven mainly by a nearly 70 percent surge in wholesale gasoline costs amid…
Trump piles pressure on Warsh to cut rates
President Donald Trump urged newly confirmed Federal Reserve Chair Kevin Warsh to lower interest rates ahead of the June FOMC meeting, opposing anticipated rate hikes…
Even if Oil Prices Peak Soon, the Global Economy Will Slow This Year
The OECD reported that the Middle East conflict is forecast to slow global economic growth to 2.8 percent in 2026 and keep inflation elevated through…
Unsurprising drop in Irish GDP
Ireland's GDP dropped by 12.1 percent in the first quarter of 2026, largely due to fluctuations caused by multinational corporations, according to the Central Statistics…
Tax discounts set to curb inflation
The UK government introduced a £300 million tax relief package, including postponed fuel duty increases, reduced VAT on summer attractions and children’s meals, and free…
US households struggle as stubborn inflation still outpaces incomes
The U.S. GDP growth for Q1 2024 was revised down to 1.6 percent due to ongoing inflation and geopolitical tensions, with consumer spending growth also…
Why conventional policy is struggling against global headwinds
Egypt’s inflation remains nearly double the central bank’s target despite slight recent declines, prompting the Central Bank of Egypt to maintain high interest rates to…
New investment zones to drive economic growth
Egypt has launched a plan to develop seven major investment zones, aiming to attract $77.5 billion in capital over the next 10 to 20 years,…
Inflation is main concern for families
The latest consumer confidence survey by S&P Global reveals that UK households' sentiment declined to its lowest point since July 2023, driven primarily by rising…
Excessive reliance on indirect taxes pushing up inflation: Speakers
Experts highlighted that Bangladesh’s heavy dependence on indirect taxes, especially VAT which accounts for nearly 80% of tax revenue, is driving inflation and straining household…
Wholesale Prices Jump in April, Signaling Impact of War on US Economy
U.S. wholesale prices rose 1.4 percent in April, marking the largest monthly increase in over four years, driven primarily by higher energy costs linked to…
Price Index Rose in April Amid War
Wholesale prices in the U.S. rose 1.4 percent in April—the largest monthly increase since March 2022—driven by energy costs and supply chain disruptions linked to…
Middle East war poses risks
Pakistan’s economy grew by 3.8% in the first half of fiscal year 2026, driven by stronger industrial activity, fiscal surplus, and improved external buffers despite…
Long war may leave us scarred
Australia's Treasury warns that a prolonged Middle East conflict could push global oil prices to US$200 per barrel by late 2026, causing inflation to surge…
German Inflation Hits Two-Year High Due to Energy Price Shock
Germany's inflation rate climbed to 2.9 percent in April, driven largely by a 10.1 percent surge in energy prices linked to geopolitical tensions in the…
US Consumer Prices Rise Sharply as Iran War Drives Energy Costs Higher
U.S. consumer prices rose 0.6% in April 2026, driven mainly by a 5.4% increase in gasoline costs linked to the conflict involving the U.S., Israel,…
War with Iran drains US economy, hits ordinary citizens hardest
Military tensions between the United States and Iran have driven gasoline prices up by more than 50 percent and caused significant job losses in key…
Food security of country ensured through agricultural production continuity: minister
Tehran’s Minister of Agriculture, Gholamreza Nouri, emphasized that nearly 99 percent of Iran’s agricultural production comes from the private sector, highlighting its role in sustaining…
Downturn to bring about ‘new cost of living crisis and 163,000 job losses’
The UK is facing a potential loss of up to 163,000 jobs this year amid a sharp decline in consumer confidence caused by rising living…
War with Iran drains US economy, hits ordinary citizens hardest
The escalating conflict between the United States and Iran has triggered a sharp rise in gasoline prices and widespread job losses across key U.S. industries,…
Costly Gas Is Stinging Low Earners the Most
The Federal Reserve Bank of New York found that rising gasoline prices, now over $4.50 per gallon, are forcing lower-income U.S. households to cut back…
Pay rises getting harder to come by
Only 50% of New Zealand workers received a pay increase in the past year, with higher rates in industrial, professional services, and technology sectors, while…
'Different world' if fuel crisis worsens: central bank chief
Reserve Bank of Australia Governor Michele Bullock warned that potential fuel shortages amid Middle East tensions could severely disrupt Australia’s economy, leading to slower growth…