Minister Amin Salam addresses Lebanon’s economic crises | Business and Economy News

Lebanon is grappling with a deep financial crisis. The United Nations estimates nearly 80 percent of its people live below the poverty line, while the World Bank has warned the economic calamity ranks as one of the three most severe the world has seen since the mid-19th century. On Thursday, an armed man took hosting … Read more

Spain, Portugal hail Berlin call for Europe gas link | Oil and Gas News

Pipeline would be similar to the defunct MidCat project that sought to link Portugal, Spain to France, but which opposition drew from environmental groups and was halted in 2019 when financing fell through. Spain and Portugal backed Germany’s call for a gas pipeline linking the Iberian Peninsula to central Europe on Friday, and Madrid said … Read more

Putin’s war sets Russian economy back 4 years in single quarter | Russia-Ukraine war News

A wave of international sanctions after Moscow’s invasion of Ukraine disrupted Russia’s trade and threw various of its industries into paralysis. by Bloomberg NewsBloomberg Published On 12 Aug 202212 Aug 2022 President Vladimir Putin’s invasion of Ukraine set Russia’s economy back four years in the first full quarter after the attack, putting it on track … Read more

What inflation? US import prices drop, consumer sentiment rises | Business and Economy News

Import prices, which exclude tariffs, fell 1.4 percent in July – the largest monthly drop since April 2020. United States import prices fell for the first time in seven months in July, helped by a strong dollar and lower fuel and non-fuel costs, while consumers’ one-year inflation outlook ebbed in August, the latest signs that … Read more

China state-owned giants to delist from US stock exchange | Financial Markets News

The delisting adds to a growing financial rift and growing tensions between the two biggest economies. Three state-owned Chinese corporate giants announced plans Friday to remove their shares from the New York Stock Exchange, adding to a growing financial separation between the biggest global economies in the middle of a dispute about scrutiny of company … Read more

Malaysian economy smashes forecasts, growing 8.9 percent in Q2 | Business and Economy

Southeast Asian country continues strong pandemic recovery after reopening its borders in April. Malaysia’s economy grew at its fastest annual pace in a year in the second quarter, boosted by an expansion in domestic demand and resilient exports, but a slowdown in global growth is expected to pose a risk to the outlook for the … Read more

Samsung pardon exposes Koreans’ love-hate feelings for tycoons | Business and Economy

Seoul, South Korea – When US President Joe Biden visited South Korea in May, his first stop was a massive Samsung Electronics semiconductor plant south of Seoul. Acting as Biden’s tour guide was Lee Jae-yong, the de facto leader of Samsung, South Korea’s largest conglomerate, which has ramped up production of the chips in recent … Read more

Argentina hikes rate to 69.5% as inflation surges to 30-year high | Business and Economy News

Argentina’s inflation woes and political upheaval got only worse in July, when then-Economy Minister Martin Guzman abruptly resigned. by Patrick GillespieBloomberg Published On 11 Aug 202211 Aug 2022 Argentina’s annual inflation surged past 70% last month, one of the fastest rates in the world, after renewed political turmoil fueled price spikes and a currency rout. … Read more

Big Mac’s comeback: McDonald’s to reopen in Ukraine | Business and Economy News

The burger giant has pulled its business out of Russia after Moscow sent troops into Ukraine last February. McDonald’s will start reopening some of its restaurants in Ukraine in the coming months, a symbol of the war-torn country’s return to some sense of normalcy and a show of support after the American fast-food chain and … Read more

US jobless claims increase for second straight week | Unemployment News

As more businesses – particularly in the tech industry – announce layoffs as a result of economic uncertainty, unemployment claims have increased. The number of US unemployment insurance applications increased for a second week and remained close to the highest level seen since November, signaling a further easing of the labor market despite the fact … Read more