Economy

US president Joe Biden signed a deal boosting the country’s borrowing ability into law on Thursday, averting the country’s first-ever debt default — but only for a few weeks. The Democratic-controlled House of Representatives voted along...

The change comes as advanced economies, such as the United States and Germany, struggle to recover from the pandemic. The IMF has maintained its growth prediction for 2022, but has issued a warning about “dangerous” uneven...

Three academics from the United States were awarded the Nobel Prize in Economics on Monday for work on the labour market that used “natural experiments,” or observational studies, to revolutionize empirical research in the field, according...

The US added 194,000 jobs in September while the unemployment rate fell to 4.2%, official figures show. However, the growth was much less than expected as the Delta variant of Covid continued to drag on the...

New Zealand’s central bank has raised interest rates for the first time in seven years as it tries to rein in property prices and inflation. The Reserve Bank of New Zealand (RBNZ) increased its cash rate...

The Asian Development Bank (ADB) granted a $250 million policy-based loan Thursday to help Bangladesh recover from the COVID-19 pandemic. This is the first sub-program of the Sustainable Economic Recovery Program, which has a budget of...

The Asian Development Bank (ADB) decreased its forecast for developing Asia’s economic growth in 2021, citing ongoing concerns about the coronavirus illness (COVID-19) pandemic. According to an update to its main economic book, Asian Development Outlook...

New Zealand’s economy surged 2.8 percent in the second quarter, official data showed on Thursday, although analysts said the country’s latest Covid-19 lockdown had likely stalled momentum. The growth figure for the April-June period was more...

Cryptocurrency Litecoin saw a sudden surge in price on Monday over a press release about Walmart accepting it for payment – which turned out to be fake. The release, published through a legitimate press channel, claimed...

The UK inflation rate hit 3.2% in the year to August, the biggest increase since records began in 1997, as the economy continued to reopen. The Consumer Prices Index measure of inflation rose from 2% in...