In a chilly auditorium in Afghanistan, heaps of freshly mined green emeralds glowed under bright table lamps as bearded gemstone dealers inspected them for purity and quality. An auctioneer asked for bids on the first lot, which weighed 256 carats. With that, the Taliban’s weekly gemstone auction was underway. These sales, in the emerald-rich Panjshir … Read more
Singapore Prime Minister Lawrence Wong says most workers have seen wages outpace inflation. Singapore’s economy grew 4 percent in 2024, comfortably beating forecasts, according to preliminary government figures. Gross domestic product (GDP) expanded 4.3 percent in the October-December period, Singapore’s Ministry of Trade and Industry said on Thursday, lifting full-year growth to its strongest performance … Read more
Paris and Berlin that make up almost half of the eurozone economy face political and economic woes. France and Germany have long been deemed the main axis of power in the European Union. But, both are now facing serious political and economic turmoil. The uncertainty has come at a critical moment, with US President-elect Donald … Read more
Spain’s devastating floods have raised concerns about EU preparedness for climate change. It is Spain’s worst natural disaster in recent history and some scientists are linking it to global warming. Devastating floods across the eastern region of Valencia have destroyed roads, railways, other infrastructure and businesses. Recovery efforts are still under way, but the total … Read more
As Britain’s Labour Party government prepares to deliver its first budget this week, the message to Britons for the past few months has been a dispiriting warning that they may not like what they hear. The budget, which will be announced in Parliament on Wednesday, will be “painful,” Prime Minister Keir Starmer said. The Treasury, … Read more
Damage caused by Hurricanes Helene and Milton is estimated to be more than $100bn. Two powerful hurricanes have devastated properties and businesses across the southeastern United States. Climate-linked weather events are becoming more frequent and costly in the nation, draining the federal government’s aid funds rapidly. That is why many Americans lack flood insurance or … Read more
Geopolitical tensions in the Middle East are escalating after Iran’s major missile attack on Israel. Middle East tensions are ratcheting up, bringing the region closer towards an all-out war. The geopolitical risk rose after Iran launched a major ballistic missile attack targeting sites across Israel. The escalation comes almost a year after Israel started its … Read more
Israel’s war on Gaza has ground its vital economic sectors to a halt. Almost a year into the war on Gaza, Israel’s economy is facing its deepest decline in years. Military spending is ballooning, borrowing is rocketing and revenues are drying up. International trust in its economy is waning. Thousands of highly educated and skilled … Read more
The United States Federal Reserve has cut interest rates for the first time since 2020. It was seen as the clearest signal yet that central banks are winning the fight against inflation. The US Federal Reserve – usually seen as a global leader – has joined other banks around the world in lowering the cost … Read more
With two months to go before the US presidential election, the candidates are outlining their vision for the world’s biggest economy. Democratic candidate Kamala Harris says she plans to raise taxes on corporations and the wealthy while the Republican hopeful Donald Trump says he’ll slash what he says is unnecessary federal spending. The economy and … Read more