South Korea’s tech behemoth Samsung Electronics logged a double-digit fall in the third-quarter operating profit due mainly to sluggish demand for memory chips, the company said Friday. Preliminary operating profit stood at 10.8 trillion won [Read More]
Rating agency Fitch has lowered the outlook for its credit rating for the United Kingdom (UK) government debt from “stable” to “negative”, citing risks from the country’s “large and unfunded fiscal package.” The fiscal package [Read More]
The International Monetary Fund (IMF) chief said Thursday there is a “fundamental shift” in the global economy, urging countries to bring down inflation, put in place responsible fiscal policy, and jointly support emerging market and [Read More]
Inflation in Belarus amounted to 13.8 percent for the first eight months this year and will soar to 19 percent by the end of the year, President Alexander Lukashenko said at a government meeting Thursday. [Read More]
The Portuguese economy is expected to grow 6.7 percent in 2022, recovering its pre-pandemic performance, the Portuguese Central Bank, Bank of Portugal (BdP), announced Thursday. According to the October Economic Bulletin, there was an increase [Read More]
Monetary policy moves in advanced economies risk pushing the world towards global recession and prolonged stagnation, inflicting worse damage than the 2008 financial crisis and the COVID-19 shock, the UN Conference on Trade and Development [Read More]
A stronger U.S. dollar arising from the Federal Reserve’s aggressive interest rate hikes has intensified pressure on the European economy, leading to higher inflation and energy costs, European economists have said. “The Fed has increased [Read More]
The U.S. S&P 500 closed at its lowest point this year on Tuesday, as U.S. Federal Reserve officials indicated they might continue to raise interest rates — even to the point of triggering a downturn. [Read More]
The European Central Bank (ECB) expects economic activity in Europe to slow down substantially in the coming months, due to skyrocketing prices, decreased spending power and overall uncertainty, ECB President Christine Lagarde said on Monday. [Read More]
Aggressive rate hikes by the U.S. Federal Reserve have a drastic effect on emerging markets, particularly import-reliant Turkey floundering with a weak currency and runaway inflation, experts said. On Sep. 22, the Fed decided on [Read More]
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