Economy

The World Bank on Thursday announced a $2 billion package to support Ukraine’s private sector, in a bid to help pave the way for reconstruction amid the devastation resulting from Russia’s invasion. The latest package by...

The Bank of England on Thursday hiked its interest rate by half a point to 3.5 percent, the highest level in 14 years, in a bid to cool sky-high inflation. The increase was the BoE’s ninth...

The Executive Board of the International Monetary Fund on Friday approved a $3 billion loan to Egypt, with an immediate disbursement of $347 million, the IMF said in a statement. Egypt will benefit from the loan...

The US Energy Department announced Friday a plan to add oil back to the Strategic Petroleum Reserve (SPR) after a historically large release undertaken by the Biden administration. The policy marks a significant shift after President...

Inflation has continued to slow in Russia, standing at less than 12 percent in November year on year, after soaring to a 20-year high after the start of Moscow’s assault on Ukraine, statistics showed Friday. Last...

Oil giants have “greenwashed” their public image while locking in fossil fuel production for years to come, potentially foiling moves to prevent climate change, said a US House committee memo released on Friday. The document follows...

South Korea on Thursday ordered striking truck drivers in the fuel and steel sectors back to work as a walkout that has caused havoc in Asia’s fourth-largest economy prepares to enter its third week. The strike,...

Saudi Arabia said Wednesday it recorded its first annual budget surplus in nearly a decade, beating its own projections in a year of elevated oil prices. The surplus for 2022 amounted to 102 billion Saudi riyals...

Ghana will launch a domestic debt exchange on Monday, its Finance Minister Ken Ofori-Atta said, expressing confidence that the move would help restore macroeconomic stability and end the West African country’s worst economic crisis in a...

Japan’s core consumer prices rose 3.6 percent year-on-year in October, the government said Friday, the highest level in four decades due largely to rising energy costs and a weak yen. The data, which excludes volatile fresh...