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Economy
Only around half of firms in Japan expect economic growth in 2023
Only around half of major companies in Japan expect the country's economy to grow in 2023 given soaring prices of natural resources and raw materials triggered by Russia's war on Ukraine and the weak yen, a survey showed Monday.
In the…
Outrage in Tunisia after raising interest rates in banks
The Central Bank's decision to raise the main interest rate to 8% angered the Tunisian people amid the deteriorating economic situation in the country.
Citizens have expressed their fears that their bank loans will rise to more than 60%…
2023 to be tougher for global economy than 2022, IMF chief says
This year will be tougher than 2022 for most of the global economy as the United States, European Union, and China see slowing growth, the head of the International Monetary Fund (IMF) has warned.
IMF Managing Director Kristalina…
UK’s problems won’t go away in new year, PM Sunak tells Britons
British Prime Minister Rishi Sunak told Britons that the problems bedeviling the country won’t disappear in 2023, a warning that prompted the Labor Party to accuse the government of wrecking the economy.
In his first New Year’s address…
ECB chief: Limiting fast wage growth is needed to rein in inflation
Wages in the eurozone are increasing faster than previously estimated, and the European Central Bank must prevent this from adding to already high inflation in the currency bloc, ECB President Christine Lagarde said.
"We know wages are…
Sri Lanka cash-strapped state plans 14,000-acre land grab in currency crisis: report
Sri Lanka’s agriculture authorities are planning to grab 14,000 acres of paddy, violating the property rights of the owners claiming that there are ‘fallow’ and give them ‘young persons’ to cultivate them, a report said, recalling…
Elon Musk becomes first person ever to lose $200b
Elon Musk was the second person ever to amass a personal fortune of more than US$200 billion, breaching that threshold in January 2021, months after Amazon.com’s Jeff Bezos.
The Tesla chief executive has now achieved a first of his own:…
South Korea plans record power price hike in hit to consumers
South Korea plans a steep increase to electricity rates next year as the nation’s state-run utility faces a record loss from sky-high fuel costs.
Electricity prices for households and businesses will be increased by 13.1 won (US$0.01)…
Poland, Germany’s plans for Russia oil pivot start to take shape
Germany and Poland pledged to stop buying Russian oil by the end of this year. Their plans to do so are starting to take shape.
Germany, Europe’s top buyer of Russian crude until the invasion of Ukraine, is seeking replacement of some…
Japan’s Nov. industrial output falls for 3rd straight month
Japan's industrial output in November fell 0.1 percent from the previous month, declining for the third straight month, due to weak overseas and domestic demand, government data showed Wednesday.
The basic assessment was downgraded for…