Business and Economy

With an economy so reliant on oil, Iraq has long faced a tough balancing act between the short-term gains that can come from ramping up production and the long-term problems that can arise from overproduction. Last week, the Iraqi oil…

Taipei, Taiwan – Chinese President Xi Jinping is set to meet with American business leaders in Beijing, media outlets have reported, as he tries to woo foreign investment back to China after a challenging few years for the world’s…

Merchants have long accused the payment network of charging inflated ‘swipe fees’ when shoppers use their cards.Visa and Mastercard have reached an estimated $30bn antitrust settlement to limit credit and debit card fees for merchants in…

Revenues from Qatar’s LNG fields will provide budget surpluses until the 2030s, Fitch said.Fitch Ratings has upgraded Qatar to AA, its third-highest rating, on the back of revenues expected from its expanded gas fields, the agency has…

US president’s remarks come as he is seeking to shore up support in key swing state of Pennsylvania.United States President Joe Biden has opposed the proposed sale of a Pittsburgh-based steel manufacturer to Japan’s largest steel…

Amid concerns over user privacy and national security, Mnuchin told US media that TikTok ‘should be owned by US businesses’.Former United States Treasury Secretary Steve Mnuchin has announced plans to rally investors in the hopes of…

The world’s second-largest economy is facing challenges, including an ailing housing market and weak domestic demand.China’s leaders are wrapping up a weeklong key conclave at which they admitted more was needed to revive a sluggish…

Bengaluru, India — After years of working at a salon in Bengaluru, Shakeela Banu made a major life change in 2018 and joined Urban Company (UC), an app-based home services platform that has more than 52,000 workers across Indian cities,…

Company to try raising and lowering prices throughout the day based on demand, prompting backlash.Wendy’s, a United States fast food chain, is looking to test having the prices of its menu items fluctuate throughout the day based on…

Necocli, Colombia – Shortly after 8am, about a dozen Chinese migrants rush out the doors of Mansion del Darien, a rundown hotel a few blocks from Colombia’s Caribbean coast, and pile into three tuk-tuks waiting on the street. “We’re full…

Before Elon Musk announced that he would pour billions into building his largest Tesla plant in the industrial outpost of Monterrey, Mexico, United States trade winds were already shifting south. In late 2022, Mexico’s Economy Minister…

World’s first AI Act will aim to set guardrails on the technology and protect ‘fundamental rights’.European politicians in two key committees have approved new rules to regulate artificial intelligence (AI) ahead of a landmark vote that…

Such a major agreement could boost the Egyptian economy, which is facing a dire foreign exchange crisis.The United Arab Emirates is in advanced talks to purchase and develop a large piece of land on Egypt’s Mediterranean coast in a deal…

India’s Finance Minister Nirmala Sitharaman’s interim budget last week marked nearly 10 years of Prime Minister Narendra Modi’s government. Sitharaman showcased the government’s achievements over the past decade, rather than shower…

When an Alaska Airlines Boeing 737-9 made an emergency landing in Portland on January 5 following a door plug blowing out shortly after departure, alarm bells began to ring. For Boeing, this was another incident on its 737 MAX series and…

Kuala Lumpur, Malaysia – From Malaysia to Singapore and the Philippines, second- and third-generation family businesses in Asia are charting a different path from their forefathers as they seek out greener and more sustainable…

The move is the latest shift in economic and foreign policy by newly elected hard-right President Javier Milei.Argentina has announced that it will not join the BRICS bloc of developing economies, fulfilling a campaign promise by newly…

The world economy has proved more resilient than most analysts anticipated at the start of 2023. In particular, global inflation has fallen without big surges in unemployment. But policymakers, desperate to engineer a “soft landing“, are…

Italy PM Giorgia Meloni opposed participating in plan viewed by many as Beijing’s attempt to buy political influence.Italy has withdrawn from China’s Belt and Road Initiative (BRI), more than four years after becoming the only Group of…

Joseph Stiglitz received the Nobel Prize in Economics in 2001. The American economist was among the voices that questioned the nature of the US response to the 2008 financial crisis, arguing that the design of bailouts would…

When Sri Lankan officials arrive in Washington this week to meet with the International Monetary Fund amid an economic and political crisis, the main question they’ll need to answer is how the country plans to manage its billions in…

Report accuses illegal miners of committing rape, other acts of violence in Indigenous communities in Brazilian Amazon.Illegal gold mining surged by a record amount last year on Brazil’s biggest Indigenous reservation, according to a new…

The world’s largest memory chip and smartphone maker estimates first-quarter profit reached $11.6bn.Samsung Electronics Co Ltd on Thursday reported a 50 percent jump in quarterly operating earnings to post its highest first-quarter…