Economy

Russia on Thursday raided its main sovereign wealth fund to the tune of $16.2 billion to cover its budget deficit as its military offensive in Ukraine weighs on public finances. The finance ministry said the government...

The IMF said Friday that it reached a staff-level agreement with Malawi for up to $88.3 million in emergency funding to tackle food crisis needs, making this the first low-income country to reach such a deal....

The pound rose against the dollar on the news of Prime Minister Liz Truss’s resignation, before shedding some of the gains. Sterling touched $1.13 at one point before slipping back. UK government borrowing costs had been...

The war in Ukraine and rising inflation have driven an additional four million children across eastern Europe and Central Asia into poverty, a 19 per cent increase since 2021, according to a new UNICEF study published....

Consumer prices in the US rose more than expected last month in a sign that the inflation fight in the world’s largest economy is far from over. Inflation, the rate at which prices rise, was 8.2%...

Russia’s economy may face multiple long-term challenges, but for now energy exports appear to be helping it ride out Western sanctions imposed over the offensive against Ukraine. Moscow says inflation is easing and employment is virtually...

South Korea’s central bank on Wednesday hikes its key interest rate by half a percentage point to a decade high as it tries to tackle surging inflation and support the plunging won. The Bank of Korea...

Equities fell in Asia and the dollar maintained its strength Thursday ahead of the release of crucial US inflation data that could determine the pace of Federal Reserve interest rate hikes. The release of the September...

A slowdown of economic growth and the US job market will be “required” to bring down inflation, the Federal Reserve said in notes released Wednesday, adding that prices remain “unacceptably high.” Fed officials also said inflation...

France’s economy minister urged the United States on Wednesday to offer cheaper prices for liquefied natural gas as Europe faces an energy crisis following Russia’s war in Ukraine. Bruno Le Maire made the plea at a...