World Economy

Leaders of Asian and African nations called on Wednesday for a new global order that is open to emerging economic powers and leaves the “obsolete ideas” of Bretton Woods institutions in the past…

Three-quarters of known fossil fuel reserves must be kept in the ground if humanity is to avoid the worst effects of climate change, a group of leading scientists and economists have said in a…

Strong exports to the US, low energy prices and a weak yen have led to the first trade surplus in three years in Japan. The Nikkei closed above 20,000 on the news, also helped by expectations of…

Eurostat shows that Romania’s budget deficit stood at 1.5% of GDP last year, NineOclock reported. In 2013 the budget deficit stood at 2.2% of GDP, and in 2012 at 2.9%. In 2014 Romania’s deficit…

Chinese President Xi Jinping described Pakistan as China's "dependable" friend and firmly backed its territorial integrity, as he announced long-term support for the cash-strapped country's…

The City watchdog has imposed a fine of almost £13.3 million ($20m) on Bank of America's Merrill Lynch International (MLI) for incorrectly reporting millions of financial transactions.

The…

European shares turned lower in morning trade on Wednesday, as investors digested a slew of earnings from European companies.

The pan-European Euro Stoxx 600 Index was higher…

Thailand on Wednesday warned it risked losing nearly $1 billion a year if the European Union makes good on a threat to ban fish imports from the kingdom unless it does more to halt illegal fishing…

If the Tories win the UK election, Britons will be offered an in-out referendum on EU membership. But businesses say leaving – and even a vote on the option – would be bad for Britain.

For the past three decades, regional trade agreements (RTAs) have had quite a growth spurt. As of January, the World Trade Organization (WTO) had received 446 notifications of RTAs regarding goods…

UK retailer Tesco has said it's booked tremendous losses in the financial year to the end of February. The supermarket chain is in the process of overhauling its business amid fierce competition…

Spain's exports rose by 2.8% in February compared with the same month a year earlier, according to data available, NewsNow reported. Citing sources from the Secretary of State for Trade, exports…

China’s Finance Minister Lou Jiwei criticized the US proposal for sectors to be closed to foreign investment under a Bilateral Investment Treaty (BIT) that is currently being negotiated between…

The new Asian Infrastructure Investment Bank is attracting the world’s attention. In its efforts to gain more economic clout, China has attracted 57 countries to join in…

Portuguese Prime Minister Pedro Passos Coelho has announced the creation of an “Observatory for Investment” between Portugal and Morocco aimed at deepening the two countries commercial and…

Strong rumors continue to abound that Greece will default on its loan repayments and leave the single currency zone.

The cash-strapped country has suggested Russia could provide “a…

US and Japanese officials failed to reach agreement in marathon trade talks in Tokyo, a setback for Prime Minister Shinzo Abe’s hopes of arriving for a summit in Washington next week with a pact…

Qatar will invest around QR1.27 trillion ($350b) in sustainable development over the next 15 years, said the organizers of the upcoming Project Qatar 2015, an international construction and…

A Japanese maglev that is the fastest passenger train in the world has broken its own speed record.

Operator JR Central said the train reached 603 kilometers per hour (375 miles per hour)…

Wholesale prices for goods and services supplied by producers declined to the lowest in more than four years, indicating lower consumer price inflation, central bank data showed, Xinhua reported.…

Russia and China are preparing a new plan of large-scale partnership, planning to approve it in May when Chinese President Xi Jinping will visit Moscow for celebrations marking the 70th…

The yield on the Greek 3-year bond passed back above 28% Tuesday (it had briefly gone above 28% on an intraday basis last Thursday), Bloomberg reported. Seemingly endless delays in…

Thailand’s economy likely contracted in the first quarter from the previous three months but looks set to return to growth in April-June, a central bank official said on Tuesday, Reuters reported…

Investors in Germany are less confident than a month ago, the widely watched ZEW index for April shows. It is the first drop in six months and comes despite solid growth in Europe’s largest…

Chairpersons of the 24th World Economic Forum on East Asia ended the three-day event on Tuesday with a fresh sense of optimism and trust on Indonesia and the Association of Southeast Asian Nations…