Israel's conflict with Lebanon-based Hezbollah has affected its own economy, according to its finance ministry. Since the fighting escalated last month, the ministry said Israel's economy has lost about £2.9bn, while its economists estimate a growth of 0.4% in 2024 - down from a prior forecast of 1.9% in May. In a report, the ministry … Continue reading Israel’s economy has lost billions since Hezbollah conflict escalated
Public investment in new technologies and the energy transition is "badly needed" to drive growth in the UK and prevent the national debt rising to risky levels, the International Monetary Fund (IMF) has warned. Speaking as Rachel Reeves travelled to Washington to attend her first IMF annual meeting as chancellor, the body identified the UK … Continue reading Public investment ‘badly needed’ to prevent UK’s national debt rising to risky levels, IMF warns
As Donald Trump campaigns for a second term in the White House, he’s made a series of promises about revitalizing the U.S. economy. His message centers on a radical shift in trade policy, plans to eliminate taxes on tips and Social Security benefits, and a proposal to significantly reduce the corporate tax rate. Trump asserts … Continue reading How Trump’s victory can impact the American economy
Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, pays a visit to the Gu Wenchang memorial hall in Dongshan County in the city of Zhangzhou, southeast China's Fujian Province, Oct. 15, 2024. Xi made an inspection tour in the coastal province … Continue reading Xi visits Fujian province, encourages citizens to play pioneering role in China’s modernization effort
China is confident to maintain steady and healthy economic growth and achieve the full-year growth target, the country's top economic planner said Tuesday. The market sentiment has improved recently with a pick-up of the purchasing managers' index in the manufacturing sector, a warming stock market and a vital consumption market during the National Day holiday … Continue reading Economic planner confident China confident can achieve full-year growth target
Chinese Vice Premier He Lifeng on Monday urged efforts to bolster Xinjiang Production and Construction Corps (XPCC) to boost Xinjiang's development. He, also a member of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks at a meeting celebrating the XPCC's 70th founding anniversary in Urumqi, capital of Xinjiang … Continue reading Chinese vice premier urges implementation of policies to bolster Xinjiang’s development
Four Nigerian professionals based in the United States have made a case for diaspora voting, saying Nigerians overseas contribute more than $20bn annually to the economy and that they deserve to have a say in who becomes the President of the country. The four professionals were guests on the Sunday edition of Inside Sources with Laolu … Continue reading Why Nigerians in diaspora should vote during elections
It's been a busy week on the economic front. There was no major shift in the overall outlook - since Monday we've had it confirmed that the UK economy has lower inflation and more growth than the last two years, while wages have grown faster than the overall pace of price rises. On the back … Continue reading Pound up against dollar after busy week on economic front
Nigeria's headline inflation rate declined to 33.40 percent in July after a persistent rise in almost two years, the latest report released Thursday by the country's statistics bureau showed. The consumer price index, a main gauge of inflation, declined by 0.8 percent compared to the 34.19 percent recorded in June, according to the National Bureau … Continue reading Nigeria’s record inflation rate falls for first time in almost 2 years
Hong Kong's gross domestic product (GDP) expanded 3.3 percent year-on-year in real terms in the second quarter, official data showed Friday. The pace quickened from a 2.8-percent growth in the preceding quarter. The growth was driven mainly by exports, with total exports of goods jumping 7.5 percent year-on-year in real terms in the second quarter, … Continue reading Hong Kong’s GDP increases by 3.3% in Q2
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