World Economy

British banks approved the fewest mortgages for house purchases in over a year last month, while existing home-owners rushed to refinance loans ahead of a widely expected Bank of England rate…

Mexico’s economy contracted more than previously thought in the third quarter due to the impact from storms and quakes on the oil and tourism industries, the government said, adding to concerns…

South Africa will use its annual budget next year to outline “decisive” policy to strengthen its fiscal framework, the finance ministry said on Saturday after S&P Global Ratings cut its…

The State Bank of Pakistan decided to keep the interest rate unchanged at 5.75%, according to a press release, APP reported. It said, prospects of achieving the 6% target of real GDP growth…

World economy is likely to see sustained solid growth with the global GDP growth accelerating slightly to a pace of 3.8%, even as monetary policy becomes less accommodative, said Credit Suisse…

Taiwan’s economy grew 3.1% in the July-September period to a ten-quarter high thanks to robust overseas demand for consumer electronics products, the government said Friday.

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Venezuela moved closer to a possible all-out default, with ratings agency S&P Global saying the country had failed to make repayments on two more loans.

The oil-rich, cash-poor South…

Asian markets closed mixed on Friday, following a quiet overnight trading session with US markets closed for the Thanksgiving holiday. Chinese stocks ended the week more than 1% lower after a…

Close on the heels of Moody’s upgrading India’s sovereign credit rating, another global agency, Standard & Poor’s, Friday kept its rating unchanged at ‘BBB-’ while also keeping the outlook ‘…

The OPEC/non-OPEC production cuts hurt Russia’s economic growth in October, Economy Minister Maxim Oreshkin said Thursday, in the 1st negative comment about the pact from a high-ranking Russian…

Italy’s industrial orders decreased in September, after rebounding strongly in the previous month, figures from the statistical office Istat showed Friday. RTTNews reported. Industrial orders…

Switzerland’s industrial production and turnover increased notably in the third quarter, the federal statistical office reported Friday, RTTNews reported. Industrial production grew 8.6% year-on…

French business confidence hit a near 10-year-high in November, French statistics agency INSEE said on Thursday, providing a boost for President Emmanuel Macron, AFP reported. The confidence…

German business confidence hit a record high in November putting Europe’s largest economy on track for a boom, the Ifo economic institute said on Friday, allaying some concerns about political…

China announced tariff cuts Friday on consumer goods including avocados, mineral water and baby carriages in a new effort to spur economic growth driven by domestic consumption and reduce…

Household debt levels in Canada are higher than those in any country included in a new OECD report, and the organization says it's a major risk to the country's economy.

Singapore’s industrial production rose for a fifteenth straight month in October driven largely by growth in electronics output, data showed on Friday, raising concerns about an uneven recovery…

German heavy industry giant ThyssenKrupp on Thursday defended its disputed merger with India’s Tata Steel, saying its restructuring plan and the tie-up would help to secure tens of thousands of…

Brits are increasingly pessimistic about the state of the country and getting less likely to splash their cash, according to new data.

Britain's consumer confidence sank 106.6 in…

No meaningful progress is being made in NAFTA trade talks between the United States, Canada and Mexico, increasing the odds that President Trump could withdraw from a critical 23-year old…

Britain slashed its official projections for economic growth Wednesday and anticipates it will need to borrow sharply over the coming years.

Finance Minister Philip Hammond delivered the…

National budgets of six eurozone countries may break the European Union’s budget deficit rules next year, the European Commission said on Wednesday, with Italy, France and Belgium also failing…

Cambodia’s economy is forecast to grow 6.9% next year, compared with a projected 6.8% pace in 2017, despite risks including uncertainties over next year’s election, the World Bank said on…

The UN Security Council’s compensation agency has announced Baghdad’s desire to settle war reparations by 2021. Iraq had suspended compensation payments following the rise of the “Islamic State…

The bittersweet news for Mexico’s poorest workers: the government is raising the minimum wage. But the 10.4% increase–to 88.36 from 80.04 pesos per day ($4.70 from $4.20)–falls far short of the…